Peripheral Vascular Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices, Peripheral Accessories, Inferior Vena Cava Filters, Hemodynamic Flow Alteration Devices), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), By Region and Competition, 2020-2030F

Market Overview

Global Peripheral Vascular Devices Market was valued at USD 10.58 billion in 2024 and is expected to reach USD 15.74 billion by 2030 with a CAGR of 6.84% during the forecast period. This can be ascribed to growing geriatric population along with a subsequent increase in the prevalence of peripheral vascular diseases across the globe. Also, the favorable reimbursement scenario for peripheral vascular procedures is expected to create lucrative growth during the forecast period. Similarly, increasing number of product approvals along with the growing prevalence of diabetes are major factors driving the growth of the market over the years. Additionally, rising the rate of tobacco consumption is anticipated to boost the growth of the market over the years. In March 2022, Siemens Healthineers launched next-generation ACUSON AcuNav Volume 4D ICE Catheter in the United States. As per the company, AcuNav Volume ICE catheter transforms care delivery by enabling the treatment of patients who were previously not able to undergo structural heart procedures.

Key Market Drivers

Rising Prevalence of Peripheral Artery Disease (PAD) and Diabetes

The global increase in Peripheral Artery Disease (PAD) and diabetes cases is a significant driver for the peripheral vascular devices market. PAD affects over 15% of individuals aged 60 and above, and more than 35% of diabetic patients develop PAD, necessitating effective vascular treatment solutions. The World Health Organization (WHO) reports that cardiovascular diseases, including PAD, are the leading cause of death globally. ​

Diabetes contributes to vascular complications by promoting atherosclerosis, leading to narrowed arteries and reduced blood flow. This condition increases the demand for peripheral vascular devices such as stents, angioplasty balloons, and catheters to restore adequate circulation. Governments worldwide are implementing public health initiatives to manage diabetes and its complications, indirectly supporting the growth of the peripheral vascular devices market.

Government Investment in Healthcare Infrastructure

Government investments in healthcare infrastructure significantly propel the peripheral vascular devices market. For instance, in 2023, the Government of Canada committed nearly CAD 200 billion over ten years to enhance healthcare services, including CAD 25 billion allocated for improving medical technologies and infrastructure. Such investments facilitate the adoption of advanced medical devices, including peripheral vascular devices, by improving healthcare facilities and access to cutting-edge treatments. Additionally, favorable reimbursement policies and insurance coverage in regions like North America and Europe encourage healthcare providers to adopt innovative vascular devices, further driving market growth.

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Key Market Challenges

Stringent Regulatory Requirements

Navigating the complex regulatory landscape poses a significant challenge for peripheral vascular device manufacturers. Regulatory bodies like the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) require extensive clinical trials and safety evaluations before approving new devices. These rigorous processes can lead to delays in product launches and increased development costs.​

Additionally, variations in regulatory standards across different countries complicate global market entry strategies. Manufacturers must invest substantial resources to comply with diverse regulatory requirements, which can hinder innovation and limit the availability of advanced devices in certain regions. Efforts to harmonize international regulatory standards are ongoing but remain a barrier to market growth.

Economic Constraints and Reimbursement Issues

Economic factors and reimbursement challenges can impede the adoption of peripheral vascular devices. High costs associated with advanced devices may limit their accessibility, especially in developing countries with constrained healthcare budgets. Reimbursement policies vary widely, and in some cases, may not fully cover the expenses of new technologies, discouraging healthcare providers from adopting them. ​

Economic downturns can further strain healthcare funding, leading to reduced investments in medical technologies and infrastructure. To address these challenges, governments and healthcare systems need to implement supportive reimbursement frameworks and allocate resources to ensure equitable access to innovative vascular treatments.

Key Market Trends

Technological Advancements in Peripheral Vascular Devices

Technological innovations are transforming the peripheral vascular devices market. The development of drug-eluting stents, which release medication to prevent artery re-narrowing, has improved patient outcomes and reduced the need for repeat procedures. Bioresorbable scaffolds, accounting for nearly 20% of newly developed vascular intervention devices, offer temporary support to blood vessels and dissolve over time, minimizing long-term complications. ​

Moreover, the integration of artificial intelligence (AI) and machine learning in device development enhances diagnostic accuracy and personalized treatment planning. These advancements lead to more effective and less invasive procedures, aligning with the global healthcare trend towards minimally invasive interventions. Governments and regulatory bodies are supporting these innovations by streamlining approval processes and providing funding for research and development in medical technologies.​

Shift Towards Minimally Invasive Procedures

There is a growing preference for minimally invasive procedures in vascular interventions. Techniques such as catheter-directed thrombolysis and the use of angioplasty balloons allow for effective treatment with reduced patient recovery times and lower risk of complications. In North America and Europe, over 70% of vascular interventions are now performed using minimally invasive techniques. ​

This trend is driven by patient demand for procedures with shorter hospital stays and quicker return to daily activities. Healthcare providers are adopting these methods to improve patient satisfaction and optimize resource utilization. Government healthcare policies that support minimally invasive techniques through reimbursement and training programs further facilitate this shift, contributing to the expansion of the peripheral vascular devices market.

Segmental Insights

Type Insights

Based on the Type, Peripheral Stents have emerged as the leading product segment within the global peripheral vascular devices market. This dominance is attributed to their critical role in treating peripheral artery disease (PAD), a condition characterized by narrowed arteries reducing blood flow to the limbs. The increasing prevalence of PAD, driven by factors such as aging populations, diabetes, and lifestyle-related conditions, has heightened the demand for effective treatment options like peripheral stents.​ Technological advancements have significantly enhanced the efficacy and safety of peripheral stents. Innovations such as drug-eluting stents (DES) have been pivotal, as they release medication that prevents artery re-narrowing, thereby reducing the need for repeat procedures. Additionally, the development of bioresorbable stents, which gradually dissolve after restoring blood flow, offers promising outcomes with fewer long-term complications.​

The shift towards minimally invasive procedures has further propelled the adoption of peripheral stents. These procedures often performed using catheter-based techniques, result in shorter hospital stays, quicker recoveries, and reduced healthcare costs. Healthcare systems worldwide are increasingly favoring such interventions, aligning with patient preferences and economic considerations.

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Regional Insights

Based on the region, North America holds the largest share in the global peripheral vascular devices market, primarily driven by a combination of advanced healthcare infrastructure, high disease prevalence, and strong support systems. The region, particularly the United States and Canada, has seen a notable rise in peripheral artery disease (PAD) cases, especially among the aging population. This growing patient base naturally drives the demand for effective diagnostic and treatment devices. Additionally, North America’s robust network of hospitals, clinics, and specialized care centers are well-equipped to adopt cutting-edge technologies, further supporting market growth.

Another key contributor to North America's dominance is the presence of globally recognized medical device manufacturers headquartered in the region. These companies continuously invest in research and innovation, bringing new and more effective devices to market. Moreover, favorable reimbursement policies and insurance coverage in countries like the U.S. encourage wider patient access to vascular procedures and treatments. Government initiatives aimed at improving cardiovascular health and increasing awareness around peripheral vascular diseases also play a significant role. Together, these factors create a well-rounded ecosystem that supports innovation, access, and sustained growth in the peripheral vascular devices market across North America.

Recent Developments

• In June 2024, Philips launched its Duo Venous Stent System in the United States, targeting individuals experiencing venous obstructions. Approved in December 2023, this advanced device is designed to address chronic deep venous disease by offering two distinct stent models tailored to various venous complications.
• In April 2024, the U.S. FDA approved Abbott’s Esprit BTK System, an innovative solution for treating chronic limb-threatening ischemia (CLTI) below the knee. This system employs an Enviroximes Eluting Resorbable Scaffold, representing a novel approach to managing complex vascular conditions in lower extremities.
• In January 2024, Cook Group introduced the Slip-Cath Beacon Tip Hydrophilic Selective Catheter across the U.S. and Canadian markets. The catheter is built for versatility, supporting both vascular and nonvascular procedures, thereby enhancing flexibility for medical professionals across a range of specialties.
• In June 2023, Cook Medical expanded its line of Advance Serenity hydrophilic PTA balloon catheters with additional size variants and extended availability. These devices are commonly used in above- and below-the-knee procedures to treat Peripheral Artery Disease (PAD). Initially launched in the U.S. and Canada, the product line is also expected to reach the European market in the near future.

Key Market Players

• Abbott Laboratories
• AngioScore Inc.
• Edward Lifesciences Corporation
• Medtronic Inc
• St. Jude Medical
• Teleflex Medical
• Volcano Corporation
• Boston Scientific Corporation
• Teleflex Medical
• Cook Group Inc.

Report Scope:

In this report, Global Peripheral Vascular Devices market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

        ·         Peripheral Vascular Devices Market, By Type:

o    Peripheral Stents

o    PTA Balloons

o    Catheters

o    Endovascular Aneurysm Repair Stent Grafts

o    Plaque Modification Devices

o    Peripheral Accessories

o    Inferior Vena Cava Filters

o    Hemodynamic Flow Alteration Devices

        ·         Peripheral Vascular Devices Market, By End User:

o   Hospitals

o   Clinics

o   Ambulatory Surgical Centers

        ·         Peripheral Vascular Devices Market, By Region:

o    North America

§  United States

§  Canada

§  Mexico

o    Europe

§  France

§  Germany

§  United Kingdom

§  Italy

§  Spain

o    Asia Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o    South America

§  Brazil

§  Argentina

§  Colombia

o    Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Peripheral Vascular Devices Market.

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Global Peripheral Vascular Devices Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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