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Peripheral Vascular Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and End User

Peripheral Vascular Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and End User

  • January 2022
  • 189 pages
  • ID: 6232586
  • Format: PDF
  • The Insight Partners


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The peripheral vascular devices market is projected to reach US$ 17,679.72 million by 2028 from US$ 11,375.13 million in 2021; it is estimated to grow at a CAGR of 6.5% during 2021-2028. The report highlights trends prevailing in the market and factors driving its growth. The market’s growth is attributed to the growing incidence of hypertension, obesity, smoking, and alcoholism and the rising prevalence of peripheral vascular diseases. However, the high cost of peripheral vascular devices hampers the market growth.

Hypertension, atherosclerosis, smoking, alcoholism, and obesity are the key factors that increase the risk of developing peripheral vascular diseases.Thus, the increasing prevalence of these diseases is likely to fuel the demand for peripheral vascular devices.

As per the World Health Organization (WHO), in 2021, around 1.13 billion people worldwide had hypertension. It has also been mentioned that hypertension is a major cause of premature deaths across the globe. Further, as per the Centers for Disease Control and Prevention (CDC), in 2018, approximately half a million deaths included hypertension as a primary cause in the US.

Additionally, as per the British Heart Foundation, in 2019, about 14.4 million people had high blood pressure. Furthermore, as per the WHO, in 2016, over 1.9 billion people aged 18 years or more were overweight, of which over 650 million adults were obese. As per the CDC, in 2017-2018, obesity prevalence in the US was 42.4%. Similarly, as per the NHS 2019, obesity is a common problem in the UK that’s estimated to affect around one in every four adults and around one in every five children aged 10 to 11. Further, as per the WHO, every year, around six million people die from tobacco use, and 2.5 million die from harmful use of alcohol worldwide.

Based on product, the global peripheral vascular devices market is categorized into peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, and embolization guidewires.The peripheral vascular stents segment is likely to hold the largest share of the market in 2021.

Moreover, the peripheral transluminal angioplasty balloon catheters segment is expected to grow at the fastest CAGR of 7.5% from 2021 to 2028, owing to the rise in the use of peripheral transluminal angioplasty balloon catheters for various medical conditions across the globe. In terms of end user, the market is categorized into hospitals and clinics, specialty clinics, ambulatory care centers, and others. In 2021, the hospitals and clinics segment held the largest share of the market. Moreover, the segment is expected to witness growth at the fastest CAGR of 6.9% from 2021 to 2028, owing to the rise in the number of peripheral vascular diseases globally.

A few of the major primary and secondary sources referred to while preparing the report on the peripheral vascular devices market are the National Center for Health Statistics, Indian Council of Medical Research, Centers for Disease Control and Prevention (CDC), the National Center for Biotechnology Information (NCBI), Industrial Biotechnology Leadership Forum, and World Health Organization.

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