(PharmaNewsWire.Com, February 26, 2021 ) The report "Peripheral Vascular Devices Market by Type (Angioplasty Balloon, Stent, Catheters (Angiography, IVUS), Plaque Modification (Atherectomy, Thrombectomy), Hemodynamic Flow Alteration, IVC Filters, Guidewires), and Region - Global Forecast to 2025", The global Peripheral Vascular Devices Market size is projected to reach USD 12.6 billion by 2025 from USD 9.2 billion in 2020, at a CAGR of 6.5%. Growth in this market is driven mainly by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, approval of new and advanced products, and the growing preference for minimally invasive surgeries.
COVID -19 Impact on the Peripheral Vascular Devices Market
In the last few months, the number of patient visits to hospitals has reduced significantly, despite emergency and OPD services being available in hospitals. Before commencing any interventional procedure, surgeons run through a series of clinical tests to decide the best treatment for patients. However, due to the lockdown in many countries, patient visits to hospitals have reduced significantly. As a result, the number of diagnostic tests has reduced. This has further reduced the sales of peripheral vascular devices.
Globally, a majority of countries have postponed elective surgeries to prevent the spread of COVID-19. Since 70–80% of peripheral vascular interventional procedures are elective, many of these procedures have been delayed. This is another factor negatively impacting the growth of the peripheral vascular devices market.
The old/normal balloons segment accounted for the largest share of the angioplasty balloons market in 2019.
Based on type, the angioplasty balloons market is segmented into old/normal balloons, cutting and scoring balloons, and drug-eluting balloons. In 2019, the old/normal balloons segment accounted for the largest share of the angioplasty balloons market. The large share of this segment can be attributed to a large number of plain old balloon angioplasty (POBA) procedures carried out across the globe.
Atherectomy devices segment accounted for the largest share of the plaque modification devices market in 2019.
Based on type, the plaque modification devices market is segmented into atherectomy devices and thrombectomy devices. In 2019, the atherectomy devices segment accounted for the largest share of the plaque modification devices market, mainly due to the increasing incidence of atherosclerosis as a result of the rising global prevalence of obesity.
North America accounted for the largest share of the peripheral vascular devices market in 2019.
North America accounted for the largest share of the peripheral vascular market in 2019. The large share of this segment can primarily be attributed to the rising incidence of cardiovascular diseases, the growing geriatric population, and the strong presence of industry players in the region.
Some of the major players in the peripheral vascular devices market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain), Becton, Dickinson and Company (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
