Peripheral Vascular Devices Market By Product Type (Stents, Angioplasty Balloons, Catheters, Vascular Grafts, Inferior Vena Cava (IVC) Filters, Hemodynamic Flow Alteration Devices, Other Devices); By End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics); By Geography, Segment Revenue Estimation, Forecast, 2024–2032.

The global peripheral vascular devices market was valued at $11.8 billion in 2023 and is forecasted to reach $18.5 billion by 2030 at a compound annual growth rate of 6.5%. The market drivers include the rising peripheral vascular diseases, innovative minimally invasive techniques, and an enhanced focus on vascular disorders worldwide.

 

The peripheral Vascular Devices (PVD) market involves devices used in the diagnosis and management of peripheral vascular diseases, which are diseases affecting vessels other than those of the heart and the brain. These devices are essential, especially in treating diseases like peripheral artery disease, PAD, deep vein thrombosis, and varicose veins. The products are stents, angioplasty balloons, catheters, and endovascular grafts, and these are used to offer less-invasive interventions for addressing blood flow restoration and avoiding further issues.

 

Peripheral Vascular Devices Market: Rising Prevalence of Vascular Disorders Fueling Growth

Rising Prevalence of Peripheral Vascular Diseases: The rise in the prevalence rate of PAD, DVT, and other vascular diseases is an important reason for the PVD market growth. The increasing incidences of vascular disorders are attributed to ageing populations, diabetes and other lifestyle diseases. The American Heart Association has estimated that PAD currently impacts approximately 200 million below the knee, involving majorly North America and Europe.

 

Advancements in Minimally Invasive Technologies: Technological advancements associated with drug-coated balloons, bioabsorbable stents, and atherectomy devices have improved procedural performance and shortened recovery period. These advancements are specifically appealing among high-risk patients. In 2023, Medtronic finally released its IN.PACT™ Admiral drug-coated balloon for treatment of PAD that presents better long term data.

 

Increasing Awareness and Screening Programs: Rising awareness of diagnosing and treating vascular diseases has boosted the need for diagnostic equipment and therapeutic devices. For example, in the United States, the CDC initiated community screening programmes in 2023 to identify people with PAD with limited healthcare access.

 

Peripheral Vascular Devices Market: Tapping Growth Potential in Emerging Markets

Growing Demand in Emerging Markets: The Asia-Pacific and Latin American markets represent the most promising due to the developing healthcare system, growing per capita income, and the broad application of innovative technologies. Asia-Pacific is forecasted to have the highest growth rate of 7.8%, while China and Brazil are identified as potential markets for cloud computing.

 

Development of Smart and Connected Devices: The convergence of IoT and AI in the use of devices associated with vascular system diseases is therefore opening up opportunities for remote monitoring, treatment and enhanced outcomes for patients. Abbott launched a connected peripheral stent system in 2023, and this allows physicians to monitor procedural outcomes with the help of mobile applications.

 

Peripheral Vascular Devices Market: High Costs and Accessibility Challenges

High Costs and Limited Accessibility: The expensive nature of vascular procedures and devices also impacts them, mainly due to low coverage in some regions. This is especially the case in low—and middle-income countries, which have limited capacities to absorb and read information in the traditional ways. Current costs of PAD treatment in the United States are estimated to be between $8,000 and $15,000 per procedure.

 

Risk of Post-Operative Complications: Despite the increasingly diverse patient population and advances in interventional cardiology, risks associated with the device can prevent patients from pursuing procedures and hamper the development of the market. A 2023 study revealed that only 15-20 % of PAD patients who underwent stent implantation remained free from restenosis at the end of the three years, demonstrating the need for a better stent paradigm.

 

Peripheral Vascular Devices Market Segmentation

By Product Type

• Stents

• Angioplasty Balloons

• Catheters

• Vascular Grafts

• Inferior Vena Cava (IVC) Filters

• Hemodynamic Flow Alteration Devices

• Other Devices

 

By End-User

• Hospitals

• Ambulatory Surgical Centers

• Specialty Clinics

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

 

Segment Analysis

By Product Type

The stents segment holds the largest market share and is expected to grow at a CAGR of 5.8% from 2023 to 2027, with a revenue of 35%. Stents are commonly employed in revascularisation interventions to recanalize occluded vessels. Example: Regarding the choice of stents, drug-eluting stents are chosen because they are less likely to cause restenosis than bare metal stents.

 

The angioplasty balloons segment will be the fastest-growing, led by the prevalence of drug-coated balloons in the treatment of PAD individuals. DCBs are projected to constitute 25% of the global angioplasty balloon market in 2023 due to their growing utility in Europe and North America.

 

By End-User

The hospital segment owns the highest market share of more than 60% in 2023 because hospitals remain the primary crucible of vascular interventions. Example: A majority of PAD related procedures are conducted in large hospitals in the developed countries due to well-developed infrastructure and personnel.

 

Peripheral Vascular Devices Market: North America’s Leadership in Vascular Care

North America dominated the global market with a maximum revenue share of 40% in 2023 due to increased rates of vascular diseases, well-developed infrastructure of medical care systems, and increased utilization of technological gadgets. The United States alone makes up 75% of the North American PVD market due to the advancement in PAD screening programmes and high procedure volume. In 2023, the FDA approved a new atherectomy device to be used in longer, more severe PAD cases, improving PAD treatment in the region.

 

Europe is the second-largest market due to well-developed healthcare infrastructure, a rising trend of drug coated balloons and awareness of PAD. Example: Germany and UK demonstrate high number of procedures and reforms in reimbursement policies. Europe accounted for 30% of global vascular procedures in 2023, with angioplasty segment growing at a faster rate.

 

The Asia-Pacific market is the most promising, with a forecasted 7.8% CAGR in the forecast period. A change in disease trends, an increase in the cost of health, a rise in the occurrence of lifestyle diseases, and enhanced access to better medical equipment are some of the factors. Example: China and Japan are the key markets that are experiencing additional growth due to the increasing government demand for improving vascular health. Hence, the 2023 Asia-Pacific demand for PVD is expected to constitute 25 % of total global demand due to increased urbanization and aging populations in the continent.

 

Peripheral Vascular Devices Market: Competitive Landscape and Key Insights

• Medtronic plc

• Boston Scientific Corporation

• Abbott Laboratories

• Cook Medical

• Becton, Dickinson and Company (BD)

• Terumo Corporation

• Cardinal Health

• Biotronik SE & Co. KG

 

Strategies:

Product Diversification: Manufacturers are enhancing their arrays with sophisticated equipment designed for particular forms of vascular diseases.

 

Global Expansion: Expanding the manufacturing sites as well as distribution channels in new economies for tapping opportunities.

 

R&D Investments: Concentrating on both the bioresorption of the constructed devices and the implementation of diagnostic technology, based on artificial intelligence.

 

Future Outlook

The market for peripheral vascular devices is expected to be active in the future by the constant improvisation of technology, the rising rate of vascular diseases, and growing healthcare in developing nations. The future developments will be based on bioresorbable stents, connectivity and artificial intelligence for improving procedural accuracy and patients’ results.

 

The market is expected to have widespread embrace of smart vascular devices including real time monitoring and personalized management by the year 2030. Market newcomers emphasizing cost and novelty will remain central to the constantly evolving market situation.

 

Therefore, the peripheral vascular devices market can be described as a growing and developing segment of healthcare with great opportunities for development. Investors targeting research, geographic diversification, and education campaigns are favorably set up to benefit from this strategic market.