(PharmaNewsWire.Com, May 01, 2020 ) The growth of this market is due to the rapid growth in the geriatric population, rising disease prevalence, and the growing preference for minimally invasive products. The demand for these products has also shown significant growth in emerging economies.
Market Growth In 2019, the Global Peripheral Vascular Devices Market was valued at USD 10.3 billion. It is expected to reach USD 14.3 billion by 2024, at a CAGR of 6.8%.
The atherectomy devices segment held the largest share in the plaque modification devices market in 2018
Based on type, the market for plaque modification devices is segmented into atherectomy devices and thrombectomy devices. Atherectomy devices held the leading share of the plaque modification devices market in 2018. This is driven largely by the increasing obesity levels worldwide and the increasing number of approvals for new products in this field.
Drug-eluting balloons will register the highest growth rate in the angioplasty balloons market
Based on type, angioplasty balloons are classified as old/normal, drug-eluting, and cutting and scoring balloons. Of these, drug-eluting balloons are expected to show the highest growth during 2018–2022, mainly due to the increasing demand for angioplasty procedures. This has ensured a greater focus on product availability and thereby stimulated the approval of new products in the market.
Geographical Region
By region, North America formed the largest market segment in 2018
North America, Europe, the Asia Pacific, and the Rest of the World (RoW) are the key regional markets for peripheral vascular devices. Of these, North America held the largest market share in 2018, mainly due to the growing geriatric population, a strong base of industry players in the region, and the increasing prevalence of cardiovascular diseases.
The leading players in the market are Abbott Laboratories (US), Cardinal Health (US), Biosensors International Group (Singapore), Boston Scientific Corporation (US), iVascular (Spain), Becton, Dickinson and Company (US), Medtronic (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), and BIOTRONIK (Germany).
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