Peripheral artery disease (PAD) is a blood circulation disorder due to buildup of plaque in the arteries that supply blood to the peripheral organs such as legs, arms, and others organs apart from brain and heart. Patients with PAD are at the higher risk for major atherothrombotic events such as stroke and myocardial infarction. Peripheral artery revascularization is minimally invasive treatment to improve blood circulation with less pain and scarring, and faster recovery time. Increasing prevalence of lifestyle diseases such as obesity and diabetes associated with high cholesterol level has led to peripheral artery disease which in turn influences the development of peripheral artery revascularization market.
The peripheral artery revascularization market is expected to witness a steady growth in the coming years with rising number of geriatric population across the globe. More instances of smoking, high blood pressure, and high cholesterol level on the coattails of unhealthy lifestyle habits are likely drive the peripheral artery revascularization market. Government initiatives in the development of healthcare sector along with growing awareness of new treatment methods are the major factors fuelling peripheral artery revascularization market. Adoption of innovative vascularization techniques and new technologies will possibly create potential growth prospects of peripheral artery revascularization market.
Peripheral arteries are blood vessels which carry blood from heart to arms and legs or organs apart from brain and heart. Peripheral artery disease is most common form of peripheral vessels disease. Peripheral artery revascularization is required when blood is not supplied efficiently to peripheral organs. Peripheral arteries often get blocked to plaque formation (formed of extra cholesterol, calcium and other materials) or narrowing of peripheral arteries. Peripheral artery revascularization is one of the effective way to restore blood flow to peripheral organs. Changing lifestyle, high cholesterol, high blood pressure and smoking leads to plaque clog buildup in peripheral arteries adversely affecting blood flow to distant organs. Claudication, critical limb ischemia, and acute limb ischemia are three major conditions in which peripheral artery revascularization is done. Peripheral artery revascularization is more common in critical limb ischemia and acute limb ischemia.
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Peripheral Artery Revascularization Market: Drivers and Restraints
Increasing worldwide prevalence of peripheral artery disease is attributed to significant growth of peripheral artery revascularization market. More than 10% of U.S. citizens over the age of 65 years have peripheral artery disease leading to increasing peripheral artery revascularization market. Peripheral artery disease prevalence is further on the rise due to increasing prevalence of risk factors such as diabetes, obesity, hypertension and use of tobacco driving peripheral artery revascularization market. Increasing obesity and tobacco use are the major driving factors of peripheral artery revascularization market. World’s aging population is expected to increase in coming years, increasing peripheral artery disease cases and attributing to peripheral artery revascularization market growth. More than 200 million people worldwide have peripheral artery disease which in turn is driving the peripheral artery revascularization market. Peripheral artery revascularization market is further expected to grow due to increasing procedures in developing countries. Higher cost of procedure appears to be the only restraint in peripheral artery revascularization market growth.
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Peripheral Artery Revascularization Market: Segmentation
Tentatively, the global peripheral artery revascularization market can be segmented on the basis of product type, procedure type, indication type, end use, and geography.
Based on Product type, the global peripheral artery revascularization market is segmented as:
Stents
Grafts
Percutaneous trans-luminal angioplasty (PTA) balloons
PTA drug-eluting balloons
Based on Procedure type, the global peripheral artery revascularization market is segmented as:
Vascular bypass
Angioplasty
Based on Indication type, the global peripheral artery revascularization market is segmented as:
Lower Extremity Revascularization
Renal Arterial Revascularization
Mesenteric Arterial Revascularization
Abdominal Aortic Revascularization
Based on end user, the global peripheral artery revascularization market is segmented as
Hospitals
Ambulatory surgical centers
Specialized clinics
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Peripheral artery revascularization Market: Overview
Global peripheral artery revascularization market is expected to grow significantly over the forecast period attributing to increasing prevalence of peripheral artery disease. Increasing global geriatric population is expected to contribute significantly to peripheral artery revascularization market growth. Worldwide prevalence of peripheral artery disease is around 200 million, driving peripheral artery revascularization market growth. New technologies like stent are expected to dominate product type segment of peripheral artery revascularization market. By indication type, lower extremity revascularization is the most dominating segment of peripheral artery revascularization market attributing to high prevalence. By end user type, hospitals are the dominating segment due to wide range of acceptance and convenience. Peripheral artery revascularization market is witnessing innovative techniques of vascularization along with mergers and acquisitions.
Peripheral artery revascularization Market: Regional Outlook
Approximately, more than 10% people with peripheral artery disease live in the U.S. Nearly, 70% of total population affected with peripheral artery disease live in low to middle income regions. Hence, Asia-Pacific and Middle East peripheral artery revascularization market is expected to grow significantly. Regions like North America and Europe are witnessing steady growth in prevalence of peripheral artery disease which in turn leads to growth of the peripheral artery revascularization market.
Peripheral artery revascularization Market: Key Players
Some of the global key players operating in peripheral artery revascularization market are Boston Scientific Corporation, Abbott Laboratories, AngioDynamics, Inc., Cook Medical, Cardinal Health, Inc., C. R. Bard, Inc., The Spectranetics Corporation, Medtronic plc, Terumo Corporation.
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