Peripheral Interventions Market Analysis

Peripheral Interventions Market Analysis

Peripheral interventions market from the catheters segment is expected to exhibit 9.3% CAGR from 2023-2032. The growth is owing to the extensive usage of peripheral intravenous catheters (PIVC) for treatment procedures in hospitalized patients. Moreover, the growing emphasis by market participants on discovering and commercializing medical products to revolutionize the treatment of calcified cardiovascular disease is expected to fuel segment trends. For instance, in March 2023, Shockwave Medical, Inc., a leading developer of Intravascular Lithotripsy, received the FDA approval for the commercial launch of the Shockwave L6 Peripheral IVL Catheter.
 

Peripheral interventions market from the peripheral artery disease application segment is foreseen to depict considerable growth at 8.9% CAGR from 2023 to 2032. The growth is attributed to the increasing prevalence of peripheral artery disease (PAD) due to the rapidly aging population and lifestyle factors. Technological advancements in interventional devices and procedures, such as angioplasty and stenting, have led to enhanced treatment outcomes. In July 2023, according to a report by the FDA, stents and paclitaxel-coated balloons have demonstrated to improve blood flow to the legs and lessen the need for further treatments to unblock clogged blood arteries.  Additionally, the rising awareness of the serious complications, including amputation caused by PADs is driving the demand for early diagnosis and intervention, contributing to the segment development.
 

North America peripheral interventions market is poised to amass more than USD 8.1 billion by 2032.  The rising number of geriatric patients vulnerable to several cardiac disorders is expected to surge the demand for several advanced healthcare devices. According to the CDC, in 2021, around 695,000 Americans died from heart diseases.  Moreover, the increasing acceptance of minimally invasive processes in the region is driving the adoption of peripheral interventional solutions. Furthermore, the rising focus of leading manufacturers on strategic efforts to expand their presence in America will augment the market outlook. For instance, in February 2023, Abbott completed the acquisition of Cardiovascular Systems, Inc. (CSI), a U.S.-based medical device firm for offering new solutions for treating complicated artery conditions.