Description

The Peripheral Vascular Devices Market was valued at USD 8307 million in 2020 and is anticipated to grow at USD 11761 million by 2027 recording a CAGR of 7.3% during the forecast period 2021-2027. medical devices that are used in the treatment of various types of vascular diseases that include atherosclerosis, aneurysm, and deep vein thrombosis are called as Peripheral vascular devices. Devices such as Angioplasty balloons, angioplasty stents, endovascular aneurysm repair stent grafts, catheters, and other devices are used in treatment of Peripheral vascular devices. The growing number of persons with peripheral arterial diseases is driving the market for peripheral vascular devices and equipment. Peripheral artery illnesses occur when plaque made up of lipids, cholesterol, and other chemicals clogs arteries in the human body, reducing blood flow to vital organs. Peripheral vascular disease affects around 200 million individuals worldwide, including 40 to 45 million Americans, according to a paper published by Elsevier in 2018. The disease manifests differently in younger groups, but the incidence climbs significantly with age, with PAD affecting over 20% of those over the age of 80. According to the Centers for Disease Control and Prevention (CDC), 8.5 million persons in the United States have peripheral artery disease, with 12-20% of those over 60 years old. The peripheral vascular devices and equipment industry is constrained by strict regulatory processes, product recalls, and failures. Product recalls and failures may have an impact on the companies’ brand image in this market. A product recall is issued by the US Food and Drug Administration (FDA) to carry out corrective activities or prevent harmful effects on patients. Medtronic, for example, recalled their pulmonary vein ablation catheter in March 2019 to update its instructions for lowering the risk of phrenic nerve injury. In September 2017, Cook Group has received FDA approval for the two year shelf life for Zilver PTX, the world’s first drug-eluting stent for the treatment vascular disease in the superficial femoral artery (SFA).

 

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