Market Overview:
The global peripheral artery disease market size reached USD 4.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 7.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032. The rising number of geriatric populations, various technological innovations in the diagnosis and treatment, increasing adoption of home care settings, improvement in healthcare infrastructure, and changing living standards of individuals are propelling the market growth.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
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2024-2032
|
Historical Years
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2018-2023
|
Market Size in 2023
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USD 4.6 Billion |
Market Forecast in 2032
|
USD 7.4 Billion |
Market Growth Rate (2024-2032) |
5.2% |
Peripheral artery disease (PAD) is a cardiovascular disorder wherein constricted arteries restrict blood flow to the limbs. It results in hair loss, leg numbness, feet or toe sores, painful cramps in hips and thighs, coldness and weak pulse in legs, and erectile dysfunction among men. It is caused when a plaque, also known as atherosclerosis, develops in leg arteries that carry oxygen and nutrient-rich blood from the heart to the arms and legs. It is diagnosed using the ankle-brachial index, ultrasound scan, angiography, blood tests, doppler and ultrasound (duplex) imaging, computed tomographic angiography (CT), and magnetic resonance angiography (MRA).
Peripheral Artery Disease Market Trends:
Changing Living Standards of Individuals
People are increasingly suffering from peripheral artery disease (PAD) due to lifestyle-related factors, such as diabetes, obesity, hypertension, and smoking. As global rates of these conditions increase, particularly in regions with aging populations, more individuals are at risk of PAD. Diabetes contributes to atherosclerosis, which narrows arteries and restricts blood flow, leading to PAD. As a result, the demand for diagnostic tools and treatments, such as angioplasty, stenting, and bypass surgery, is rising. Additionally, the global burden of cardiovascular diseases (CVDs) is pushing healthcare systems to focus on early detection and management of PAD.
Aging Population
The global aging population across the globe is contributing to peripheral artery disease market growth. Older adults face a higher risk of developing PAD owing to age-related vascular changes and atherosclerosis. As people age, their arteries naturally lose elasticity, which can result in narrowed or blocked arteries, a hallmark of PAD. This demographic shift drives demand for healthcare services including diagnostics, preventive treatments, and minimally invasive (MI) interventions like angioplasty and stent placement. In line with this, healthcare providers are increasingly focusing on addressing the needs of elderly patients, who often have complex health profiles, which is thereby increasing the peripheral artery disease market share.
Technological Advancements
Technological innovations in the diagnosis and treatment of peripheral artery disease (PAD) are significantly driving market growth. MI techniques such as endovascular therapies are revolutionizing PAD treatment by reducing recovery times and improving patient outcomes. Devices like drug-coated balloons, atherectomy systems, and advanced stents benefit in improving patient outcome without the need for open surgery. These technologies not only improve the efficacy of treatment but also make it accessible to a broader range of patients, including those who might not tolerate invasive procedures, thereby increasing peripheral artery disease market share. Additionally, improvements in diagnostic imaging are allowing for more accurate and earlier detection of PAD, which is critical in preventing complications such as limb amputation.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global peripheral artery disease market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and end user.
Breakup by Type:
- Peripheral Angioplasty Balloons
- Peripheral Stents
- Peripheral Catheters
- Inferior Vena Cava (IVC) Filters
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
- Peripheral Accessories
Breakup by End User:
- Hospitals
- Specialty Clinics
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The peripheral artery disease market research report has also provided a comprehensive analysis of the competitive landscape in the global market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- Abbott Laboratories
- AngioDynamics
- B. Braun Melsungen AG
- Becton Dickinson and Company
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Cardinal Health Inc.
- Cook Medical LLC
- Koninklijke Philips N.V.
- Medtronic plc
- Terumo Corporation
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Peripheral Artery Disease Market Recent Developments:
- 8 February 2023: Abbott and Cardiovascular Systems, Inc. (CSI) announced a definitive agreement for Abbott to acquire CSI, a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease. The acquisition of CSI will add new, complementary technologies to Abbott's leading vascular device offerings.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
Billion USD |
Segment Coverage |
Type, End User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
Abbott Laboratories, AngioDynamics, B. Braun Melsungen AG, Becton Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corporation, Cardinal Health Inc., Cook Medical LLC, Koninklijke Philips N.V., Medtronic plc and Terumo Corporation. |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |