Peripheral Vascular Devices Market Trends:

The global peripheral vascular devices market size is projected to reach USD  13.4 billion by 2026 from USD  10.3 billion in 2021, at a CAGR of 5.3%  from 2021 to 2026. The growth of this market is driven by rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral vascular diseases, favorable reimbursement scenario for peripheral vascular procedures, Increased number of product approvals, increased prevalence of diabetes, and rising rate of tobacco consumption.

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Key Market Players of Peripheral Vascular Devices Market:

Medtronic (Ireland), Boston Scientific Corporation (US). In 2021, Medtronic (Ireland), held the leading position in the market. The company has a strong geographic presence across North America, Europe, and Asia Pacific. Boston Scientific Corporation (US) held the second position in the peripheral vascular devices market

Medtronic (Ireland) held the leading position in the peripheral vascular devices market in 2020. The company offers an exhaustive product portfolio consisting of various peripheral vascular devices. The company’s strong heritage of technology, leadership, and innovation has provided a solid foundation for the continued development of safe and cost-effective products.

COVID -19 IMPACT ON PERIPHERAL VASCULAR DEVICES MARKET.

Globally, a majority of countries have postponed elective surgeries in order to prevent the spread of COVID-19. Since 70–80% of peripheral vascular interventional procedures are elective, many of these procedures have been postponed. This is another factor negatively impacting the growth of the peripheral vascular devices market. For instance, as per Medtronic’s financial 2021, Aortic, Peripheral Venous, second-quarter revenue of USD 468 million is by decreased 1.3 % and 1.9 %

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Emerging markets, such as China, India, Singapore, and Brazil, are expected to witness high growth in the coming years owing to the presence of less-stringent regulatory policies and low competition. In order to leverage the high-growth opportunities in these markets, manufacturers are strategically focusing on expanding their presence in these countries. Moreover, the increasing competition in mature markets is further compelling manufacturers to focus on emerging markets. Medtronic (Ireland) opened its Asia Pacific regional headquarters in Singapore. This development will support and strengthen the company’s operations in 80 locations across the Asia Pacific region.

Recent Developments:

• Medtronic received the US FDA approval for its IN. PACT AV drug-coated balloon (DCB) to treat arteriovenous fistula lesions
• Boston Scientific Corporation received the FDA Approval for its VICI VENOUS STENT System for treating patients with deep venous blockages.

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