The global peripheral vascular devices market size is projected to reach USD 13.4 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 5.3% from 2021 to 2026. The growth of this market is driven by rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral vascular diseases, favorable reimbursement scenario for peripheral vascular procedures, Increased number of product approvals, increased prevalence of diabetes, and rising rate of tobacco consumption.

 

Key Market Players

 

The peripheral vascular devices market is highly consolidated and is dominated by various players. The major players operating in this market are Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Becton, Dickinson and Company (US), Terumo Corporation (Japan), Cardinal Health (US), B. Braun Melsungen AG (US), Merit Medical Systems (US), Penumbra, Inc.(US), Koninklijke Philips N.V.( Netherlands), iVascular S.L.U (Spain), Biosensors International Group Ltd. (Singapore), BIOTRONIK (Germany), AMG International GmbH (US), ENDOCOR GmbH (Germany).

 

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Medtronic (Ireland) held the leading position in the peripheral vascular devices market in 2020. The company offers an exhaustive product portfolio consisting of various peripheral vascular devices. The company’s strong heritage of technology, leadership, and innovation has provided a solid foundation for the continued development of safe and cost-effective products.

 

Boston Scientific Corporation (US) Boston Scientific Corporation accounted for the second-largest share of the global peripheral vascular devices in 2020. The company provides its robust portfolio of peripheral vascular devices and efforts to develop innovative products by investing in R&D. The company has a wide geographic presence in North America, Europe, and the Asia Pacific. The company has a strong direct and indirect distribution network across the globe, which protects its business from demand fluctuations in various geographies

 

Recent Developments:

 

·         Medtronic received the US FDA approval for its IN. PACT AV drug-coated balloon (DCB) to treat arteriovenous fistula lesions

·         Boston Scientific Corporation received the FDA Approval for its VICI VENOUS STENT System for treating patients with deep venous blockages.

 

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Peripheral Vascular Devices Market Advantages:

 

·         The cost of peripheral vascular devices is comparatively low.

 

·         The devices are minimally invasive.

 

·         The devices have a high degree of accuracy in diagnosis and treatment.

 

·         The devices can be used in a variety of applications in different settings.

 

·         The devices are easy to use and can be operated by a single user.

 

·         The devices provide faster diagnosis and treatment of vascular diseases.

 

·         The devices provide real-time feedback and allow for better monitoring of the patient’s condition.

 

·         The devices are highly durable and require minimal maintenance.

 

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