The latest report by IMARC Group, titled " Peripheral Artery Disease Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," finds that the global peripheral artery disease market size reached US$ 4.11 Billion in 2021. Peripheral artery disease (PAD) is a cardiovascular disorder wherein constricted arteries restrict blood flow to the limbs. It is caused when plaque, or atherosclerosis, develops in leg arteries that carry oxygen and nutrient-rich blood from the heart to the arms and legs. It can cause hair loss, feet or toe sores, leg numbness, painful cramps in hips and thighs, coldness and weak pulse in legs, and erectile dysfunction in men. At present, PAD is diagnosed through the ankle-brachial index, ultrasound scan, angiography, blood tests, doppler and ultrasound (duplex) imaging, computed tomographic angiography (CT), and magnetic resonance angiography (MRA).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Peripheral Artery Disease Market Trends:
The market is primarily driven by the rising geriatric population across the globe. In addition, changing lifestyles of individuals due to unhealthy dietary patterns, alcoholism, and lack of physical activities represent another major growth-inducing factor. Besides this, individuals are widely opting for minimally invasive (MI) surgeries due to less postoperative pain, shortened hospital stay, fewer operative and major postoperative complications, faster recovery times, and less stress on the immune system. This, coupled with the growing prevalence of cardiac diseases among the masses, is positively influencing market growth. Moreover, the expanding healthcare industry and increasing mergers and acquisitions (M&A) and developmental strategies amongst key players are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 5.91 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
- Based on the type, the market has been classified into peripheral angioplasty balloons, peripheral stents, peripheral catheters, inferior vena cava (IVC) filters, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories.
- On the basis of the end user, the market has been segregated into hospitals, specialty clinics, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Abbott Laboratories, AngioDynamics, B. Braun Melsungen AG, Becton Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corporation, Cardinal Health Inc., Cook Medical LLC, Koninklijke Philips N.V., Medtronic plc, and Terumo Corporation.
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