Global "Peripheral
Vascular Device Market" 2020 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Peripheral vascular device
so that market participants can improve their business strategy and ensure
long-term success. This report provides players with useful information and
suggests result-based ideas to give them a competitive advantage in the global Peripheral
vascular device industry. It will show how other players compete in the global Peripheral
vascular device Market and explain the strategies you use to differentiate
yourself from other participants.
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Industry Insights
The global peripheral
vascular device market size was estimated at USD 5,888.5 million in 2014 and is
expected to grow at a CAGR of 7.2% over the forecast period. Rising demand for
minimally invasive procedures and growing aging population coupled with
changing lifestyles are some of the key factors driving the growth of
peripheral vascular device market. Increase in peripheral vascular diseases and
technological advancements in the devices is also anticipated to further boost
up the demand for these devices in the market. According to an estimate of
Central Disease for Control and Prevention, about 8.5 million people in the U.S
have peripheral artery disease including 12-20% of individuals ageing 60 years
and above.
Furthermore, rising number
of specialists treating peripheral vascular disease also propel the market
growth of these devices. Introduction of technologically advanced products like
drug eluting balloons further drive the future adoption of such devices. Rising
chronic conditions including diabetes, obesity and end-stage renal disease is
one of the crucial factors anticipated to boost demand for these devices. Some
of the key advantages associated with these devices are minimal scarring and
post-surgery infection that improves the adoption level of these devices among
the patients. However, the market growth is expected to negatively impact the
market owing to factors such as reimbursement issues in developing countries,
stringent regulatory policies, and presence of highly fragmented market.
Regional Insight
North America dominated the
market with the maximum share of 39% in 2014 owing to rising healthcare
expenditure, high R&D activities, favorable reimbursement policies,
increasing awareness, and growing stent surgeries in the region. Asia pacific
region is expected to be the fastest growing segment with a CAGR of 10% over
the forecast period. The growth in the region is driven by the factors such
rising incidence of cardiovascular disease, improving healthcare
infrastructure, large population base unmet medical needs, and rising disposable
income level in emerging countries like India and China. In addition, cost of
surgery is less in this region as compared to developed nations that is
expected to boost medical tourisms, which in turn anticipated to surge demand
for such devices.
Competitive Insights
Few of the key participants
of peripheral vascular devices market include, Edward Lifesciences Corporation;
Abbott Laboratories; Angiocare, Inc.; Boston Scientific Corporation; Medtronic,
Inc.; Teleflex Medical; St.Jude Medical; Volcano Corporation; Bayer; Terumo
International System, Inc. ;B Braun, Inc.; Endologix; Volcano Corporation; W.L.
Gore and Associates Ltd.; Angioscore Ltd, and Cordis Corporation.
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