Home > Pressrelease > Peripheral Interventions Market size to exceed $14.2bn by 2028

Peripheral Interventions Market size to exceed $14.2bn by 2028

  • Published Date: February 3, 2022

Peripheral Interventions Market size is set to surpass $14.2 billion by 2028, according to a new research report by Global Market Insights Inc.

Increasing prevalence of peripheral artery disease is a vital factor that will primarily drive the peripheral interventions industry growth. Risk of acquiring peripheral artery disease escalates with age along with some other factors such as tobacco consumption, sedentary lifestyle, diabetes, and excess weight. Peripheral artery disorders (PAD) are treated with angioplasty and stent placement that removes the blockage in the artery, in adjunction with medications and lifestyle changes. Thus, with growing incidence of PAD, hypertension, obesity and other cardiovascular diseases, the adoption of peripheral interventional devices is estimated to grow at rapid rate in the forthcoming years.

Rise in the number of angioplasties, due to increase in CVDs augmented healthcare spending for peripheral interventions devices. Also, growing number of peripheral interventions professionals and catheterization laboratories in government as well as private hospitals helps in advancing peripheral interventions demand. Thus, developing healthcare infrastructure along with increasing ownership of cath labs by growing number of skilled specialists is expected to augment the peripheral interventions market statistics.

Escalating preference towards minimally invasive treatments coupled with technological breakthroughs in peripheral vascular devices is expected to significantly impact the industry growth. Peripheral intervention procedure involves insertion of vascular devices such as stents, atherectomy devices, embolic devices and several others through a small incision. Such minimally invasive procedures result into relatively a smaller number of infections in comparison with invasive procedure as well as avoid surgeries.

High R&D investment coupled with continuous technological advancements will accelerate the market statistics

Based on product, peripheral interventions market is categorized into catheters, stents, sheath, guide wires, embolic devices, atherectomy devices, IVC fillers, thrombectomy devices and others. Stents segment is further segmented into drug-eluting stents, bare metal stents and others. Stents segment exceeded USD 2.3 billion in 2021. Growing adoption of technological advanced stents globally will impel segmental growth.

Browse key industry insights spread across 224 pages with 248 market data tables & 16 figures & charts from the report, “Peripheral Interventions Market Forecasts By Product (Catheters, Sheath, Stents {Bare-metal Stents, Drug-eluting Stents}, Guide Wires, Atherectomy Devices, Embolic Devices, Thrombectomy Devices, IVC Filters), Application (Peripheral Artery Disease, Venous Thromboembolism), End-use (Hospitals, Catheterization Laboratories, Ambulatory Surgical Centers), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends,  Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:

Rising incidence of deep vein thrombosis in numerous countries will accelerate the industry growth

Based on application, peripheral interventions market is segmented into peripheral artery disease, venous thromboembolism and others. Venous thromboembolism segment is anticipated to flourish at 9.3% CAGR during the estimated timeline. Growing disease burden of CVD and cancer cases as patients are highly susceptible for venous thromboembolism (VTE) conditions. Thus, increasing demand for peripheral intervention procedures. Moreover, rising incidence of deep vein thrombosis (DVT) cases worldwide will propel market growth.

High adoption of mobile catheterization laboratories will propel segmental demand  

Peripheral interventions market by end-use is segmented into hospitals, catheterization laboratories, ambulatory surgical centres, and others. Catheterization laboratories segment held nearly USD 630 million revenue in 2021. Segment growth is primarily attributable to high adoption of catheterization laboratories for treatment of CVD in developing countries. Increasing number of cardiovascular procedures in the settings and evolving healthcare infrastructure in several nations will propel the segment growth.

Rising chronic disease burden and sophisticated healthcare infrastructure will fuel European market statistics

Europe peripheral interventions market held more than 27% revenue share in 2021 and will flourish at considerable rate during projected period. Increasing number of patients suffering from cardiovascular disorders, cancer, atherosclerotic disease and several other chronic diseases is anticipated to propel peripheral interventional devices industry expansion in Europe. Additionally, growing emphasis on innovations in peripheral interventions devices along with strong presence of market players will fuel European market outlook.

Strategic collaborations and acquisitions by key business players will stimulate overall market growth potential

Some of the notable players operating in the peripheral interventions market are Abbott Laboratories, AngioDynamics Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, Cook Medical, Teleflex Incorporated, W. L. Gore & Associates Inc, Becton Dickinson, and Company (C.R. Bard), Medtronic, Cardinal Health Inc, B. B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd, Terumo Corporation, and DePuy Synthes (Johnson & Johnson) among others.

These notable players are continuously undertaken numerous growth strategies such as product launch, collaborations, acquisition, and merger to broaden their product offerings. For instance, in December 2021, Becton, Dickinson and Company announced the acquisition of Venclose, Inc., a company engaged in providing chronic venous insufficiency (CVI) treatment solutions. This acquisition will enable the company to provide a comprehensive portfolio to treat full range of venous conditions.

Authors: Sumant Ugalmugle, Rupali Swain