Peripheral Artery Disease Market Research Report: By Disease Type (Organic and Functional), Treatment Type (Medications, Angioplasty, Bypass Grafting, Atherectomy, Thrombolytic Therapy and others), End User (Hospitals & Clinics, Research & Academic Institutes and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2025.
Increased global prevalence of artery diseases has fuelled the demand for peripheral artery disease market. Market Research Future (MRFR) in its latest report reveals that the global peripheral artery diseases market will exhibit a healthy CAGR during between 2017 and 2023. Peripheral Artery Disease Market is expected to exhibit significant growth over the forecast period. The market was valued at approximately USD 2.96 Billion in 2018 and is projected to register a 6.92% CAGR over the forecast period.
Atherosclerosis in the peripheral arteries remain the leading cause of peripheral artery disease. Atherosclerosis in associated with hardening of plaque that trigger clot formation in arteries, leading to their blockage.
Global demand for peripheral artery disease treatment has grown substantially in recent years. Availability of superior treatment and therapeutics for peripheral artery disease has reflected favourably on the market. Many market players have ramped up investment in R&D program to develop innovative treatment solution. The market is reaping benefits for increased R&D in healthcare. Data released by European Federation of Pharmaceutical Industries and Association reveals that in 2016 R&D investments in the Pharmaceutical Industry reached EUR 35000 Mn. The Centres for Disease Control and Prevention noted that in the U.S. per capita national health spending stood at USD 9,990 and the overall national health spending surpassed USD 3 trillion. High healthcare spending in advanced countries is viewed as key market driver.
The global peripheral artery disease market is also being influenced by factors such as increased occurrence of arterial diseases and associated complications, increase healthcare penetration, rising level of awareness, improve reimbursement policies and increasing geriatric population. However, formidable challenges lie ahead. Factors such as influx of fake drug, high risk oh infection and severe side-effects associated with treatment options somewhat derail the market growth.
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Global Peripheral Artery Disease Market: Segmental Analysis
The segment analysis of the market has been conducted based on devices, drugs, and types of diseases.
On the basis of devices, the market has been segmented into atherectomy devices, angioplasty balloon catheters, stents and others. The stents segment is further sub-segmented into self-expandable and balloon-expandable. The atherectomy devices segment is further sub-segmented into orbital, directional, rotational and laser.
On the basis drugs, the market has been segmented into glucose regulating drug, lipid-lowering drugs and other. Based of types of diseases, the market has been segmented into lymphedema, blood clotting disorders, atherosclerosis and other.
Global Peripheral Artery Disease Market: Regional Analysis
Regions covered in the report include Europe, the Middle East & Africa (MEA), Asia Pacific (APAC), and North America. A vast and robust healthcare sector in the U.S. makes North America a major market for peripheral artery disease treatment. Extensive healthcare penetration coupled with sound medical expertise and high medical healthcare expenditure. Additionally, rising patient pool is a key driver of the market in North America. Development of peripheral artery diseases is also linked with obesity and diabetes. The APAC peripheral artery disease market is also anticipated to witness a healthy growth over the next several years. Increased focus on improving the care quality propelling the market growth in the region. During the forecast period, the market in the region is expected to exhibit the highest growth.
Global Peripheral Artery Disease Market: Competition Analysis
- Braun Melsungen AG, Boston Scientific Corporation, TERUMO CORPORATION, Sanofi S.A., AstraZeneca Plc., Bristol-Myers Squibb Company, Merck & Co., Inc., Symic Bio, Inc., CardioVascular BioTherapeutics, Inc., Medtronic., KONINKLIJKE PHILIPS N.V, Proteon Therapeutics, Inc., Smith & Nephew plc, Bayer HealthCare Pharmaceuticals, Zimmer Biomet Holdings, Inc., Abbott, Dickinson and Company (BD), Cook Medical, Becton, Johnson & Johnson Services, Inc., Alcon Laboratories, Inc., Angioscore, Inc., Betagenon AB, TheraVasc Inc., Aspen Surgical Products, Inc., Stryker Corporation, AnGes, Inc. and Cordis are among the top-notch companies operating in the market.