Home > Healthcare & Medical Devices > Peripheral Interventions Market
Peripheral Interventions Market size was valued at USD 7.9 billion in 2021 and is expected to witness over 8.5% CAGR between 2022 and 2028. Expanding prevalence of cardiovascular disorders (CVD) will be a major factor creating high demand for peripheral interventions. Hypertension, diabetes mellitus, excess weight, smoking and increasing consumption of carbohydrate-rich food are the primary factors of development of some form of CVD.
To get more details on this report: Request Free Sample PDF
Rising number of catheterization laboratories coupled with increasing number of healthcare professionals in emerging markets will impel the industry growth. Growing adoption of treatment for CVD in catheterization laboratories (cath labs) is growing robustly, especially in developing countries. Also, emergence of hybrid catheterization labs that are utilized for not only cardiac peripheral interventions, but also vascular, neurological, electrophysiology and other procedures has increased during the past years.
The number of cath labs in India has increased by more than two-fold, with a significant increase in the number of peripheral interventions procedures. Also, rise in the number of angioplasties, due to increase in CVDs augmented healthcare spending throughout the globe. Rise in the number of peripheral interventions professionals and catheterization laboratories are anticipated to drive the industry expansion.
|Market Size in 2021:||7.9 Billion (USD)|
|Forecast Period:||2022 to 2028|
|Forecast Period 2022 to 2028 CAGR:||8.5%|
|2028 Value Projection:||14.2 Billion (USD)|
|Historical Data for:||2017 to 2021|
|No. of Pages:||224|
|Tables, Charts & Figures:||258|
|Segments covered:||Product, Application, End-use|
|Pitfalls & Challenges:|
To get details on how to order this report click here
The COVID-19 pandemic has disrupted the medical services like peripheral intervention practises, as screening programmes and services have been reduced or suspended in several countries. Reduction in the number of patients presenting to the emergency department (ED) with peripheral artery disease is predicted to have a negative impact on peripheral interventional procedures and device acceptance.
Furthermore, guidewires, catheters and stents are essential medical devices, used in critical life-saving procedures. Thus, was estimated that the COVID-19 crisis did not directly impact the manufacturing of such peripheral interventions’ devices market. However, logistical interruptions disrupted the supply of guidewires, stents and catheters and cause temporary shortages. This had potentially increased the price of guidewires.
The government and major companies have significantly increased R&D expenditure due to the high pervasiveness of cardiovascular disease. Governmental support for the launch of novel devices is projected to contribute to strong the market expansion.
To tailor this report to your specific requirements: Customize this Report
The catheters segment in the peripheral interventions market is anticipated to showcase 8.6% growth rate through 2028 led by the benefits associated with it such as technological advancements, easy diagnosis, and better outcomes through use of catheters. A catheter is an important part of a peripheral interventional procedure since it is used to diagnose and treat blockages in blood arteries. Catheter developments have further enabled healthcare practitioners to visualise and operate lesions in vessels, as well as give suitable disease treatment, resulting in future segment growth of peripheral interventions.
The peripheral artery disease segment dominated more than 53% of revenue share in 2021. Rising prevalence of peripheral artery diseases will accelerate the adoption of various peripheral vascular devices. Application of peripheral interventions in treatment of peripheral arterial diseases is used to reduce the blockages in the blood vessels formed owing to rising risk factors such as smoking and consumption of high cholesterol food. Increasing incidence of coronary and peripheral atrial diseases is further fuelling the demand for atherectomy devices.
Hospitals segment accounted for 84% of the peripheral interventions market share in 2021. The sales of peripheral interventions products in hospitals are slated to increase in future owing to rise in number of people opting for treatment in hospitals due to better expertise and accessibility. Hospitals offer sophisticated treatment, easy availability of advanced devices and presence of skilled workforce at one place, are collectively driving the patient preference for hospitals, thereby promoting the industry progression.
North America peripheral interventions market held over 40% of revenue share in 2021. Presence of major players in the region and skilled workforce in the healthcare settings will positively impact the market demand in the region. Major leaders such as Johnson & Johnson, Medtronic, Becton Dickinson and Boston Scientific Corporation have a strong presence in North America, particularly in the U.S. market, and healthcare professionals in the region quickly adopt breakthrough products, resulting in lucrative opportunities for the companies operating in the industry.
A large population suffering from various CVDs places a financial burden on the healthcare system. Every year, Americans spend more than USD 200 billion on CVDs. With growing costs, the need for effective treatment is also increasing, this led to potential innovation in market. Additionally, increasing awareness regarding early diagnosis and treatment of PAD in Canada will further impel the demand for market in the region.
Major participants involved in the market include Abbott Laboratories, AngioDynamics Inc., Biotronik SE & Co. KG, Boston Scientific Corporation, Cook Medical, W. L. Gore & Associates Inc, Teleflex Incorporated, Medtronic, Becton Dickinson and Company (C.R. Bard), Cardinal Health Inc, B. B. Braun Melsungen AG, Terumo Corporation, Meril Life Sciences Pvt. Ltd, and DePuy Synthes (Johnson & Johnson). These market leaders have incorporated certain strategic initiatives such as new product development and launch, collaborations, acquisitions and others that have enhanced their industry hold and helped them evolve as major industry players.
Click here to buy sections of this report
Market, By Product
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: