Peripheral artery disease are also known as peripheral vascular diseases or peripheral Occlusive diseases narrowing of artery due to deposition of plague or cholesterol on the walls of artery. Global peripheral artery disease market was $ 2.23 billion in 2016 and is expected to reach at $ 3.47 billion at CAGR of 6.5 % during forecasted period of 2017-2023.
Types of devices – Stents (balloon-expandable and self-expandable), angioplasty balloon catheters, Drug-Eluting Balloons, Atherectomy devices (rotational, orbital, laser and directional)
Drugs – Lipid-lowering drugs, blood pressure lowering drug, glucose regulating drug, clot preventing drug and other.
Diseases – Blood Clotting Disorders, Lymphedema, Atherosclerosis and Other
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Key Players for Global Peripheral artery disease Market
Boston Scientific Corporation (U.S), Medtronic (Ireland), Johnson & Johnson (U.S), Abbott Laboratories (U.S), AstraZeneca Plc. (UK), Angioscore, Inc. (U.S), Sanofi S.A. (France), Bristol-Myers Squibb Company (US), Betagenon AB (Sweden), Proteon Therapeutics, Inc. (US), Merck & Co., Inc. (US), Bayer HealthCare Pharmaceuticals (Germany), Symic Bio, Inc. (US), CardioVascular BioTherapeutics, Inc. (US), nGes MG, Inc. (Japan), TheraVasc Inc. (US) and many more.
Key developments and trends
Peripheral Stents such as Cook Medical’s Zilver PTX paclitaxel-coated, self-expanding superficial femoral artery (SFA) stent which is expected to improve stenting outcomes by avoiding restenosis, immediate absorption, avoidance of drug-carrying polymer and others.
Bio absorbable drug-eluting stents such as Boston Scientific’s, Synergy coronary stent.
Bio-resorbable stent such as Abbott’s everolimus-eluting Absorb made of materials such as polylactic acid polymer which completely breaks down into carbon dioxide and water after restoring the vessel’s natural function.
The drug pipeline for the peripheral artery devices is also impressive which include Rivaroxaban (Bayer), clopidogrel (Sonofi), Propionyl-L-Caritine (Sigma-Tau Research, Inc.) and others.
Market dynamics of Peripheral Artery Disease market
The critical drivers for the Peripheral Artery Disease market is the rising Atherosclerosis cases as Atherosclerosis is the main reason for causing peripheral artery diseases. The rise in risk factors such as sedentary lifestyle, increasing number of patient suffering from obesity, diabetes, consumption of fat rich diets and junk foods, development of minimally invasive endovascular procedures, availability of advanced surgery solutions such as femoropopliteal artery revascularization and others. Growth of geriatric population will be positively correlated with the market. According to WHO, the number of world population above 65 years of age is expected to reach 1.5 billion, constituting about 16% of the total world population by 2050 from around 524 million in 2010. However development of stents technology such as drug eluting stents, biocompatible stents, and others are prime drivers of the market.
High cost of treatment, poor penetration of health care insurance, rising stringency of regulation and reimbursement issues in many countries are expected to hamper the market growth.
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Regional Analysis of Peripheral Artery Disease market
On regional basis, Global Peripheral artery market is segmented as North America, Europe, Asia Pacific and Middle East and Africa. More than 10 million people in the U.S. are affected by peripheral arterial disease (PAD), which coupled with highly developed healthcare makes it the largest market. Europe takes the runner up position led by the U.K., Germany and others. Notably although Asia Pacific is the fastest growing market it has some of the lowest rate for peripheral artery diseases, due to its staple diet consisting of rice.
However, the huge unmet needs and growing population in Asia pacific region are major drivers of Peripheral artery market in this region. Middle East and Africa are expected to generate moderate single digit growth due to poor healthcare penetration and low per capita income.
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