Report Overview

The global peripheral vascular devices market size stood at around USD 8.5 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period

Growth in this market is majorly driven by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, the approval of new and advanced products, and the rising incidence of diabetes. However, the availability of alternative treatments and product failures and recalls are the major factors that are expected to restrain the growth of this market during the forecast period.



Market Drivers

Driver: Rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral vascular diseases.

The rapid growth in the geriatric population is one of the major factors driving the demand for peripheral vascular devices as this population segment is at a greater risk of developing peripheral vascular diseases such as atherosclerosis and aneurysms. This is because, with age, genetic and lifestyle factors can lead to a build-up of plaque in the arteries. Globally, it is estimated that more than 200 million people are suffering from peripheral vascular diseases. According to the same source, the prevalence of these diseases rises with age and is greater than 20% in the patient population aged above 80 years.

According to an article published in the Lancet Journal in October 2016, the global prevalence of peripheral vascular diseases was 115.1 million in 2005, which rose to 154.6 million in 2015. With the growing geriatric population in all major regions across the globe, the prevalence of peripheral vascular diseases is expected to increase further in the coming years. This, in turn, will increase the demand and uptake of peripheral vascular devices in major markets during the forecast period.