Peripheral Interventions Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI2915
Peripheral Interventions Market size is projected to experience significant growth from 2018 to 2024.
Increasing prevalence of peripheral artery disease (PAD) worldwide will primarily drive peripheral interventions market growth in the forthcoming years. According to study by Springer Nature, prevalence of PAD increases with age by approximately 18% at 85-89 years as compared to 5% at 45-49 years of age. A huge global population suffers from diabetes mellitus, cerebrovascular disease coupled with habits such as smoking, largely contributing to the risk of PAD. With increasing number of geriatric people across the world along with increasing risk for PAD, peripheral interventions market will witness growing demand in upcoming period.
Growing technological advancements in peripheral interventions devices should offer lucrative business growth opportunities. Technological advances including drug eluting stent and drug-coated balloons along with tibiopedal retrograde approach have increased the success rate of disease treatment. With accelerating demand for minimally invasive procedures and advancements, that significantly increases treatment efficiency, there will be remarkable peripheral interventions industry growth in the foreseeable future.
High cost of intervention devices, that may not be affordable for customers in developing economies can potentially hinder business growth over the coming years.
Stents product segment will witness lucrative growth owing to rising prevalence of PAD, critical limb ischemia and other diseases. Rapid innovations in stents for peripheral applications will drive customer preference for stents. With enhanced procedural success and wide range of benefits, demand for stents is forecasted to increase significantly over the projected years.
Oncology application segment is estimated to grow at robust rate over the forecast period. Escalating incidence of new cancer cases throughout the world will positively impact peripheral interventions business growth. According to a study by National Cancer Institute (2011-2015), there are 439.2 new cancer cases per 100,000 men & women each year. Such high prevalence of cancer will drive the demand for peripheral intervention devices in recent years.
Hospitals end-use segment should grow at momentous pace over the projected period due to rising patient pool suffering from chronic diseases. Availability of technologically advanced devices along with favorable reimbursement policies in hospitals should favor segmental growth. Furthermore, emerging healthcare infrastructure in developing nations will augment hospitals segmental growth in upcoming years.
U.S. peripheral interventions market will account for considerable regional share throughout the forecast timeframe. Growing elderly population prone to peripheral diseases, sophisticated infrastructure as well as reimbursement codes will stimulate regional growth. The Centers for Medicare & Medicaid Services (CMS) has given revised rates and policies for numerous acute care hospitals thus, highly impacting adoption rate, that will in turn impel U.S. peripheral interventions industry growth.
Prominent industry players operating in global peripheral interventions market include Abbott Vascular Devices, Angioscore, B. BraunBoston Scientific, C.R.Bard (Becton Dickinson and Company), Cook Group, Maquet, Medtronic, Merit Medical Systems, Teleflex, Terumo Interventional Systems, and W.L.Gore & Associates. Companies are adopting strategies such as mergers, acquisitions and new product launch. For instance, in October 2017, Boston Scientific announced an agreement for acquisition of Apama Medical Inc., that will help the company in expansion of its product portfolio.
Peripheral Interventions Market By Product, 2013-2024 (USD Million)
- Inflation devices
- Guide wires
- Embolic protection devices
- Atherectomy devices
- Occlusion devices
- Inferior vena cava filters
- Ablation devices
- Thrombectomy devices
Peripheral Interventions Market By Application, 2013-2024 (USD Million)
Peripheral Interventions Market By End-Use, 2013-2024 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Abbott Vascular Devices
- B. Braun
- Boston Scientific Corporation
- C.R.Bard (Becton Dickinson and Company)
- Cook Group
- Maquet Holding
- Merit Medical Systems
- Terumo Interventional Systems
- W.L.Gore & Associates
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