Peripheral Vascular Devices Market Growth Accelerated by Adoption of Minimally Invasive Procedures


 Peripheral vascular devices are widely used in angioplasty, endovascular aneurysm repair, thrombectomy, and other similar procedures. Such devices help to perform minimally invasive procedures with reduced risk of complications and faster recovery time. Peripheral vascular stents, balloons, catheters, endovascular aneurysm repair (EVAR) devices, and other accessories help treat various peripheral artery diseases. The growing adoption of minimally invasive surgeries has boosted the demand for these devices. The global Peripheral Vascular Devices Market is estimated to be valued at US$ 10,266.08 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The increasing adoption of minimally invasive surgeries is a major trend in the peripheral vascular devices market. Minimally invasive procedures reduce recovery time, hospital stay duration, and risk of surgical site infections and other complications associated with open surgeries. For example, endovascular aneurysm repair (EVAR) is gaining popularity over conventional open repair surgery for abdominal aortic aneurysms (AAA) as it is less invasive and associated with fewer complications. Moreover, the availability of innovative endovascular tools such as drug-eluting balloons and drug-coated balloons further support the growth of minimally invasive procedures in peripheral artery diseases. This growing adoption of minimally invasive techniques will continue to drive the demand for peripheral vascular devices over the forecast period.

Segment Analysis
The global peripheral vascular devices market is dominated by the peripheral vascular stents sub segment. This is because stents are increasingly being used by physicians to treat atherosclerosis and arterial blockages in legs. Peripheral stents are designed to open up narrowed arteries and restore normal blood flow to major arteries such as the iliac, femoral and popliteal arteries.

Key Takeaways
The global peripheral vascular devices market is expected to witness high growth. The market is driven by rising cases of peripheral artery diseases, growing obese and geriatric population, and technological advancements in vascular devices.

Regional analysis: Europe currently holds the largest share in the peripheral vascular devices market owing to growing elderly population base and rising prevalence of lifestyle diseases. Additionally, favorable reimbursement policies and strong presence of key players in countries like Germany, UK and France are propelling the market growth. Asia Pacific is expected to witness fastest growth during the forecast period due to increasing healthcare investments, growing medical tourism industry and rising disposable incomes in countries like China and India.

Key players operating in the peripheral vascular devices market are Abbott Laboratories, Boston Scientific Corporation, Angioscore, Emboline Inc., Becton Dickinson, and Company, Cook Group Inc., Cordis Corporation, Covidien PLC, Edward Lifesciences Corporation, Medtronic Plc, St. Jude Medical, and Bayer AG. Abbott Laboratories holds the leading position due to its wide peripheral vascular stents and catheters product portfolio. Boston Scientific is another prominent player owing to its strong brand presence worldwide especially in advanced markets like US and Europe.

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