Global Peripheral Vascular Devices Market is Growing Rapidly with Terumo Medical Corporation Launching R2P MISAGO RX Self-expanding peripheral stent at 31st TCT Conference

 

Peripheral vascular disease (PVD), also known as peripheral arterial disease, is a progressive, slow, and sometimes unconscious circulation disease. Narrowing, clogging, or blockages in a blood vessel in the body can result in PVD. Peripheral vascular disease is also known as peripheral arterial nephropathy.

Growing geriatric population and prevalence of peripheral artery diseases (PAD) is expected to drive growth of the global peripheral vascular devices market. According to the World Health Organization, between 2015 and 2020, people aged 60 years and above is expected to double from 12% to 22%. According to the World Bank, in 2019, around 9.09% of the population was aged 65 years and above, increasing from 7.49% in 2009. Furthermore, according to the Centers for Disease Control and Prevention (CDC), around 6.5 million people aged 40 years and above in the U.S. suffer from PAD every year. Peripheral vascular devices such as peripherally inserted central lines are relatively easy to insert and do not require a procedure to be performed in the operation theater. This makes it potentially more cost-effective than other options. Hence, such factors are expected to drive growth of the global peripheral vascular devices market. Furthermore, increasing demand for minimally-invasive procedures is expected to propel the global peripheral vascular devices market growth.

However, stringent regulations regarding the use of these devices and product recalls are expected to restrain growth of the global peripheral vascular devices market. Besides, rising demand from emerging markets such as Asia Pacific can present lucrative growth opportunities in the near future. Among regions, North America is expected to witness significant growth in the global peripheral vascular devices market. This is owing to high adoption of minimally invasive surgeries combined with high patient awareness across the region. High expenditure on healthcare is expected to boost the regional market growth. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to the presence of a large pool of patients and rapid development of healthcare infrastructure.

Key companies operating in the global peripheral vascular devices market are Abbott Laboratories, Volcano Corporation, B Braun Inc., Edwards Lifesciences Corporation, Endologix, Medtronic Inc., Terumo Interventional Systems Inc., St. Jude Medical, St. Jude Medical, Teleflex Medical, Bayer, Boston Scientific Corporation, Covidien, Cook Group Inc., and Angioscore Ltd.

For instance, in September 2019, Terumo Medical Corporation launched R2P MISAGO RX Self-expanding peripheral stent 31st Transcatheter Cardiovascular Therapeutics (TCT) Conference