Peripheral Interventions Market size worth over $11.5bn by 2027

Peripheral Interventions Market size is set to surpass USD 11.5 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

Increasing incidence of vascular diseases coupled with rising number of minimally invasive outpatient procedures are the factors contributing to the market growth. Peripheral interventional procedure is primarily used to treat peripheral arties disease (PAD). Diabetes, hypercholesterolemia, smoking, and hypertension are the major factors contributing to the development of peripheral arteries disease. According to the Centers for Disease Control and Prevention, approximately 6.5 million people aged 40 years and older have peripheral arties disease in U.S.

 

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Product innovations in peripheral intervention devices will create new growth avenues for the market expansion. Advancements including use of nanotechnology, drug eluting stents, and drug-coated balloons have increased the procedure success rate. Advances in catheters and guidewires have allowed doctors and surgeons to visualize and treat lesions in specific vessel. Such breakthroughs are aiding in driving the procedure outcome and hence adoption. In addition, with growing preference for minimally invasive surgeries, the demand for peripheral vascular devices is projected to expand in the foreseeable future.
 

Advancements in stent technology will boost the peripheral interventions market revenue

Stents segment accounted for USD 1.8 billion in 2020 led by the technological transformation of stents and rapid acceptance in emerging nations. In July 2019, Terumo Corporation introduced Misago RX self-expanding peripheral stent for superficial femoral artery in Japan. The hydrophobic coated distal tip and sheath help in providing smooth access to the lesion. Such innovative device design will fuel the segment growth.
 

Browse key industry insights spread across 250 pages with 245 market data tables & 13 figures & charts from the report, Peripheral Interventions Market Size By Product (Catheters, Sheath, Stents {Bare-metal Stents, Drug-eluting Stents}, Guide Wires, Atherectomy Devices, Embolic Devices, Thrombectomy Devices, IVC Filters), By Application (Peripheral Artery Disease, Venous Thromboembolism), By End-use (Hospitals, Catheterization Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends,  Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/peripheral-interventions-market
 

Increasing incidence of vascular disease coupled with continuous technological advancement will augment the market value

Peripheral interventions market for venous thromboembolism segment is predicted to witness 8.9% growth rate till 2027. Incidence of venous disorders including deep vein thrombosis (DVT). Most DVT patients suffer from the condition in legs and the clot formed in these patients may lead to fatal consequences. Thus, such condition needs to be addressed effectively. With growing applications and success rate of peripheral interventions, the segment will showcase robust growth during the forecast timeframe.
 

Growing use of mobile cardiac catheterization laboratories will spur the number of cardiac procedures

Catheterization laboratories in the peripheral interventions market is estimated to attain a CAGR of 9.5% through 2027 due to increasing usage of mobile catheterization laboratories and investment to improve cardiovascular infrastructure. These mobile catheterization laboratories are considerably equipped and provide convenience. Thus, less cost of these lab and increasing expansion strategies for cardiac care will drive the segment expansion.
 

Rising incidence of heart disease and continuous improvement in healthcare facilities will foster the market demand

Europe peripheral interventions market held more than 25% of revenue share in 2020. Increasing number of patients suffering from vascular, liver cancer, and other chronic diseases will propel the demand for peripheral interventional devices. Moreover, growing awareness about cardiac disorders, rise in healthcare expenditure, and supportive government initiatives will enhance the regional growth.
 

Strategic initiatives by prominent players will increase the industry growth potential

Some of the notable companies operating in the market are Abbott Laboratories, Becton Dickinson, Boston Scientific Corporation, Cook Medical, Medtronic, Medtronic Plc, and others. These leaders are continuous innovating their products and are involved in strategic collaboration to capitalize on market opportunities. In March 2019, Cook Medical launched a new 2.6 Fr CXI, a type of support catheter with platinum-iridium marker band. The product is enhanced with a new length of 135 cm that will strengthen firm’s current portfolio.

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