Peripheral Vascular Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Angioplasty Balloons, Angioplasty Stents, Catheters, Endovascular Aneurysm Repair Stent Grafts, Inferior Vena Cava Filters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Others), By Indication (Target Artery Instability(TAI), Access Artery Injury(AAI), Peripheral Arterial Disease, Arteriovenous Fistulas, Peripheral Aneurysms, and Others), By Artery Type (Carotid Artery, Fem-Pop Artery, Iliac Artery, and Infrapop Artery), By End-Users(Hospitals, Ambulatory Surgical Centres, and Cardiac Catheterization Labs), and Region  

Peripheral Vascular Devices Market was valued at US$ 14,291.9 million in 2023 and growing at a CAGR of 4.9%. The market is driven by the increasing prevalence of peripheral arterial disease (PAD), technological advancements, growing demand for minimally invasive procedures, and increasing awareness of peripheral arterial disease. It is estimated that over 200 million people worldwide have PAD. The prevalence of PAD increases with age, affecting a substantial proportion of the elderly population, with rates exceeding 20% in individuals over 80 years old. PAD is a major risk factor for heart attack, stroke, and amputation. The rising incidence of PAD is due to factors such as the aging population, diabetes, and smoking.

Peripheral vascular devices are used in minimally invasive procedures, which offer several advantages over traditional surgery, such as shorter hospital stays and faster recovery times. Advancements in technology are leading to the development of new and improved peripheral vascular devices. For instance, bioresorbable stents, which dissolve in the body over time, are reducing the need for repeat procedures. There is a growing public awareness of PAD, which is leading to more people being diagnosed and treated for the condition. however, the restraining factors hinder the growth of the market. high cost of devices, reimbursement challenges, and stringent regulatory approvals.  Peripheral vascular devices can be expensive, which can limit access to care for some patients. Reimbursement rates from Medicare and other insurers can be low, which can discourage hospitals from investing in new peripheral vascular devices. The regulatory approval process for new peripheral vascular devices can be lengthy and expensive.

Peripheral Vascular Devices Market Key Developments:

• In Dec 2021, Philips a global leader in health technology, announced that it has signed an agreement to acquire Vesper Medical Inc., a US-based medical technology company that develops minimally-invasive peripheral vascular devices.
• In June 2023, Merit Medical Systems, Inc. made an important move by acquiring the Surfacer Inside-Out access catheter system from Bluegrass Vascular Technologies, Inc. The acquisition was completed for a total cash of $32.5 million.