Peripheral
vascular disease (PVD), also known as arteriosclerosis obliterans,
arterial insufficiency of the legs, claudication, or intermittent
claudication, is a blood circulation disorder that causes the blood
vessels in the heart or brain to narrow, spasm or block. Peripheral
vascular disease usually causes fatigue and pain in the legs and
particularly during strenuous physical activities, which usually
subsides with rest. The blood vessels supplying oxygenated blood to
the arms, kidneys, intestines, and stomach are usually affected by
the peripheral vascular devices. According to the Center for Disease
Control and Prevention, around 12 to 20 percent of the population in
the age category of 60 years and above, developed PAD, in 2016. The
incidence rate of this disease is steadily increasing.
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North
America held the maximum market share in the global peripheral
vascular devices market in 2016. The dominance of this region is
attributed to the high adoption of minimally invasive surgeries, high
healthcare expenditure as well as patient awareness, among others.
Asia Pacific is likely to grow at maximum rate over the forecast
period. Presence of a large patient pool with unmet medical need is
expected to be a major driver for growth of the market in this
region. Improving healthcare scenario in emerging economies such as
India and China, among others coupled with the growing GDP of these
countries and increasing government initiatives are aiding the growth
of the peripheral vascular devices market in this region.
Growing
geriatric population to drive the market growth
Growing
geriatric population, which is highly susceptible to chronic diseases
is expected to create a conducive environment for growth of the
peripheral vascular devices market. Additionally, presence of
unexploited growth opportunities in the emerging markets such as
China, India, and Brazil coupled with rising health awareness among
the population are also expected to boost growth of the market in the
coming years.
Increasing
adoption of bio-absorbable stents coupled with increasing health
awareness and growing disposable income among the populace create
immense opportunities for the manufacturers in the market.
Nonetheless, the high costs of these procedures, particularly in
emerging economies and product failures are key challenges faced by
vendors.
Top
Key Players
Some
of the major companies operating in the global peripheral vascular
devices market are Abbot Laboratories, Boston Scientific Corporation,
Angioscore, Emboline INC, and Bayer AG.
Peripheral
vascular devices market taxonomy
On
the basis of product type, the global market is segmented into:
-
Angioplasty Balloons
-
Embolic Protection Devices
-
Stents
-
Inferior Vena Cava Filters
-
Synthetic Surgical Grafts
-
Aortic Stent Grafts
-
Peripheral Vascular Accessory Devices
-
Vascular Closure Devices
-
PTA Balloon Catheters
-
Chronic Total Occlusion (CTO) Devices
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