Peripheral vascular disease (PVD) is narrowing of arteries outside the brain and heart. Risk factors for the growth of PVD include hypertension, obesity, diabetes and smoking. More than 5% of the population above the age of 50 years suffers from PVD. Insufficient blood flow and narrowing of arteries are the most common peripheral diseases caused due to plaque buildup. The global market for peripheral vascular devices was valued at USD 4,802.6 million in 2011, with an expected CAGR of 7.1% from 2012 to 2018. The North American region accounts for the largest market share. Asia-Pacific is the fastest growing market, on account of favorable demographic and economic conditions.
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The major segments in the market include peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, embolic protection devices and inferior vena cava filters. Embolic protection devices are the fastest growing segment in the total peripheral vascular devices market.
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Growth of the global peripheral vascular devices market is fuelled by the rate of population growth globally and the high incidence of peripheral vascular diseases due to increasing aging population. Rising healthcare awareness and increasing disposable incomes are other important factors driving the growth of the market.
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Key players such as Abbott Laboratories, Cordis Corporation and Boston Scientific Corporation dominate the market with their global presence. With the increasing aging population in developed economies such as North America and Europe, the demand for peripheral vascular devices would also increase. Asia-Pacific will record a high CAGR, due to the continuous increase in population as well as disposable incomes. Economic growth and technological advancements are primary factors stimulating the growth of peripheral vascular devices market in Asia-Pacific region. Global Peripheral Vascular Devices Market, by Product Types, 2011 (USD Million)
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