Peripheral Vascular Devices Market Overview:
Transparency Market Research has recently announced the publication of a research study that discusses the trends and dynamics governing the peripheral vascular devices market. The research report, titled “Peripheral Vascular Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,” has been compiled using primary and secondary research methodologies. The research report states that the global peripheral vascular devices market was valued at US$4.8 bn in 2011 and is expected to reach US$7.8 bn by 2018, rising at a CAGR of 7.1% from 2012 and 2018.
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Global Peripheral Vascular Devices Market: Drivers and Restraints
Peripheral vascular devices are used for treating peripheral vascular disease (PVD), which is commonly seen amongst the old people. This condition is caused due to the narrowing of arteries outside the heart and brain due to fatty deposits. The narrowing is generally a result of arteriosclerosis due to plaque building up inside a vessel. The two types of PVDs are functional PVD and organic PVD. Functional PVDs are caused due to smoking, cold temperatures, operating vibrating machinery or tools, and stress. On the other hand, organic PVDs are a result of high blood pressure, diabetes, high cholesterol, and smoking. Statistics show about 5% of the population that has crossed the 50 years of age suffers from PVD.
The rising incidence of peripheral vascular diseases and growing population across the globe are expected to play a pivotal part in the progress of this market. The latter factor is expected to result in growing pool of geriatrics, which is anticipated to drive the global peripheral vascular devices market in the coming years. Furthermore, the growing awareness amongst patients and the ability to spend on healthcare will also fuel this market in the near future.
Global Peripheral Vascular Devices Market: Key Segments
The global peripheral vascular devices market is segmented on the basis of devices and geography. The devices available in this market are peripheral transluminal angioplasty (PTA) balloon catheters, peripheral vascular stents, PTA guidewires, chronic total occlusion (CTO) devices, atherectomy devices, aortic stents, embolic protection devices, synthetic surgical grafts, and inferior vena cava filters. Out of all the types of devices, the embolic protection devices segment is expected to grow at a stupendous pace in the coming few years.
Presently, North America makes the largest contribution to the global peripheral vascular devices market. However, an estimation presented by researchers indicates that the Asia Pacific peripheral vascular devices market will expand at an exceptional pace due to changing demographic situations and stabilizing economies. Furthermore, the exponential rise in the population will also propel this market in the aforementioned region.
Global Peripheral Vascular Devices Market: Key Players
Some of the top companies operating in the overall market areAbbott Laboratories, Boston Scientific Corporation, Angioscore, Inc., Cook Group, Inc., C.R. Bard Inc., Cordis Covidien plc, Medtronic, Edward Lifesciences Corporation, Volcano Corporation, St. Jude Medical, and others. The research report profiles these players in order to explain the competitive landscape present in the global market. Furthermore, the researchers have also explained the ways in which investments and regulatory framework are shaping the growth of this market.
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