The Global Peripheral Interventions Market is valued at USD 8459.8 Million in 2022 and is expected to reach USD 14878.6 Million by 2029 with a CAGR of 8.4% over the forecast period.
Global Peripheral Interventions Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Rising geriatric populations, increasing prevalence of lifestyle-related diseases and technological advancements in peripheral interventions are some of major factors driving the market growth of the Global Peripheral Interventions Market.
Peripheral interventions refer to a class of minimally invasive procedures that are designed to treat vascular conditions in the peripheral regions of the body. The procedures are typically performed by medical specialists trained in interventional radiology or vascular surgery. Peripheral interventions are designed to address a range of vascular conditions, including peripheral artery disease, deep vein thrombosis, varicose veins, and venous ulcers. They are performed using catheter-based techniques, which involve the insertion of a thin, flexible tube into the affected blood vessel through a small incision.
Peripheral interventions are used to treat varicose veins, which are swollen and twisted veins that can cause discomfort and pain. Peripheral interventions are commonly used to treat PAD, a condition in which plaque build-up narrows the arteries and reduces blood flow to the legs and feet. Peripheral interventions such as angioplasty, atherectomy, and stenting are used to open up blocked arteries and restore blood flow.
The Covid-19 pandemic has had a significant impact on the peripheral interventions market, both in terms of demand and supply. On the demand side, the pandemic has led to a reduction in elective procedures and non-emergency medical visits, which has resulted in a temporary reduction in the volume of peripheral interventions being performed. Many patients have postponed elective procedures due to concerns about exposure to the virus, and many hospitals and clinics have prioritized Covid-19 patients, leading to delays in non-emergency procedures.
The global peripheral interventions market is segmented on the basis of product, application, end-use, and region & country level. On the basis of the product, the global market is divided into IVC filters, embolic devices, guide wires, sheath, thrombectomy devices, atherectomy devices, stents, catheters, and others. On the basis of application, the global peripheral interventions market is segmented into venous thromboembolism, peripheral artery disease, and others. On the basis of end-user’s segment is into ambulatory surgical centers, catheterization laboratories, hospitals, and others.
The regions covered in global peripheral interventions market report are North America, Europe, Asia-Pacific, Latin America, and Rest of the World. Based on country level, the market of global peripheral interventions market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, Southeast Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some of the key players for global peripheral interventions market report are -
The aging population is one of the key drivers of the peripheral interventions market. As the population ages, the incidence of peripheral artery disease and other conditions affecting the peripheral arteries and veins increases. Peripheral artery disease (PAD) is a common condition in older adults, affecting an estimated 20% of individuals over the age of 60, and approximately 29 million people globally as per the World Health Organization (WHO). Hence, aging population is expected to remain a major driver of the peripheral interventions market within the forecast period, as the number of older adults continues to increase globally.
In addition, the second driver of the peripheral interventions market is the increasing cases of lifestyle-related diseases, such as obesity and diabetes. These conditions can increase the risk of developing peripheral artery disease (PAD) and other vascular conditions, such as deep vein thrombosis (DVT). For example; diabetes can cause damage to the blood vessels, which can also increase the risk of developing PAD and other vascular conditions. And, the International Diabetes Federation estimates that diabetes caused 4.2 million deaths in 2019.
Moreover, technological advancements have been a major driver of the growth of the peripheral interventions market, as new devices and procedures have made it possible to treat peripheral vascular disease with greater precision and effectiveness, and with less invasive techniques. For example, Robotics technology is increasingly being used in peripheral interventions procedures, allowing physicians to perform procedures with greater precision and control.
However, high cost of peripheral interventions devices may hamper the market growth. In spite of that, the development of new technologies, such as minimally invasive procedures, robotics, and advanced imaging systems, can enhance the accuracy and effectiveness of peripheral interventions, which can lead to better patient outcomes and increased market growth and may offer more growth opportunities for the market.
North America is the largest market for peripheral interventions, owing to the high prevalence of peripheral artery disease, high research and development activities, and favorable reimbursement policies in this region. The United States is the largest market in this region. For instance; the Centers for Disease Control and Prevention (CDC) estimates that approximately 8.5 million people in the United States have peripheral artery disease (PAD), which represents about 3.5% of the population.
The market in Asia Pacific is expected to be driven by the rising prevalence of lifestyle-related diseases. The region has a large population and a growing middle class, which is increasingly adopting Western lifestyles and diets. As a result, the incidence of diseases such as diabetes and cardiovascular disease is increasing and driving the demand for peripheral intervention products. In addition, the region has a large and growing healthcare sector, which supports the adoption of new technologies. For example; according to the International Diabetes Federation; it is estimated that the diabetes cases in India will be 124,874.7 by 2045.
New Peripheral Intervention Device Shows Promise in Treating PAD
On February 7th, 2023; A new peripheral intervention device for the treatment of peripheral artery disease (PAD) has shown promising results in a recent study. The device, known as the Pantherids SV, is a catheter-based atherectomy system that is designed to remove plaque from peripheral arteries. In the study, the Pantheris SV was used to treat 20 patients with PAD. The results showed that the device was effective in removing plaque from the arteries, with an average plaque reduction of 65%. The patients also showed significant improvements in blood flow and symptoms.
|Historical data||2016 - 2021|
|Forecast Period||2022 - 2029|
|Market Size in 2022:||USD 8459.8 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2029:||USD 14878.6 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, C. R. Bard, Inc., Cook Medical, Cardinal Health, Inc., Terumo Corporation, B. Braun Melsungen AG, Johnson & Johnson, Koninklijke Philips N.V. and others|
|Segments Covered||By Product, By End Users, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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