Peripheral Interventions Market Size

Peripheral Interventions Market Size

Peripheral Interventions Market size reached USD 8.7 billion in 2022 and is set to expand significantly at more than 9% CAGR from 2023-2032, driven by the rising prevalence of peripheral artery diseases across the globe.

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The rising risks of developing peripheral artery disease (PAD) with age, combined with other factors, such as smoking cigarettes, sedentary lifestyle, diabetes, and obesity will drive the market growth. The American College of Cardiology reported in 2023 that PAD affects more than 12 million Americans and 200 million individuals globally. Several market players are developing innovative treatment techniques with massive investments in R&D activities to match the rising demand for more effective and less invasive treatment options for patients with complex PADs.
 

To cite an instance, in June 2023, Endologix received FDA approval for its Detour system to treat long, complex superficial femoropopliteal lesions. Moreover, the growing incidence of hypertension coupled with the high prevalence of cardiovascular diseases have surged the adoption of peripheral interventional devices, propelling the market progress.

The higher cost of therapy and diagnostics associated with peripheral therapies is one of the major restrictions to the peripheral interventions market expansion. According to the American Heart Association, a patient in Canada spends around USD 4,600 per year on treatment and diagnosis of peripheral atrial disease. Additionally, the significant expenses of establishing cath laboratories and the rising attempts to reduce costs may limit the market growth. To cite an instance, a few hospitals in India experienced significant declines in return on investment in cath laboratories due to hampered lab operations.