Peripheral Artery Disease Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.12 Billion |
| Market Size (2029) | USD 7.5 Billion |
| CAGR (2024 - 2029) | 7.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Peripheral Artery Disease Market Analysis
The Peripheral Artery Disease Market size is estimated at USD 5.12 billion in 2024, and is expected to reach USD 7.5 billion by 2029, growing at a CAGR of 7.91% during the forecast period (2024-2029).
Factors such as the rising burden of peripheral artery disease (PAD), technological advancements in peripheral devices, and increasing prevalence of risk factors such as diabetes and hypertension, coupled with the growing geriatric population, are expected to boost the growth of the peripheral artery disease market over the forecast period. Also, new product launches and regulatory approvals are expected to drive market growth.
The peripheral artery disease (PAD) market is witnessing significant growth, primarily fueled by the rising prevalence of the condition. The rise of unhealthy lifestyle habits like smoking, diabetes, and obesity also contributes to the rising burden of PAD. For instance, the American Heart Association reported in June 2023 that over 200 million individuals globally are affected by PAD, a trend propelled by an aging demographic and detrimental lifestyle habits.
Similarly, according to a study published by StatPearls Publishing LLC in May 2023, peripheral arterial disease (PAD) stands as the third leading cause of atherosclerotic morbidity, following coronary heart disease and stroke. Given the significant burden of PAD, there is an expected surge in demand for both effective medication and advanced treatment devices. This rising demand is projected to drive market growth during the forecast period.
Furthermore, as diabetes prevalence rises, the risk of developing peripheral artery disease increases, primarily due to the detrimental effects of high blood sugar on blood vessels. This link amplifies the demand for medical solutions, including medications and interventional technologies tailored for managing PAD in diabetic patients. For instance, according to data updated in 2024 and published by the International Diabetes Federation, about 643 million people are expected to be diagnosed with diabetes globally in 2030, and this number is projected to reach 784 million by 2045. Consequently, this anticipated surge in the diabetic population is set to drive demand for PAD-related drugs and devices, thereby propelling market growth.
Companies are increasingly focusing on developing advanced devices to treat patients with peripheral arterial disease (PAD), a trend expected to drive market growth in the coming years. For instance, in March 2024, Becton, Dickinson, and Company began clinical trials for PAD treatment using vascular-covered stents. These stents are being assessed in a global clinical trial named AGILITY, a single-arm study evaluating their safety and effectiveness on 315 patients at 40 locations worldwide. Such studies assessing stents for PAD treatment are expected to fuel the availability of novel stents in the market, which, in turn, is anticipated to spur market growth over the forecast period.
Furthermore, new product launches and regulatory approvals are set to enhance the market's product offerings, leading to increased adoption. For instance, in June 2023, Surmodics Inc. secured the US Food and Drug Administration's approval for its SurVeil drug-coated balloon (DCB), which is a drug transfer balloon and is designed to restore patency to peripheral artery disease through mechanical dilatation and ancillary delivery of a uniform dose of microcrystalline paclitaxel intended to reduce restenosis of the treated peripheral arteries. This milestone underscores the company's commitment to developing next-generation solutions for the millions affected by peripheral artery disease.
Therefore, owing to the rising burden of peripheral artery disease and diabetes among the population and product development activities by key players, the market studied is expected to grow over the forecast period. However, the high cost of devices, stringent regulatory guidelines, and rising product recalls are likely to hinder market growth over the forecast period.
Peripheral Artery Disease Market Trends
The Balloon Catheters Segment Expected to Witness Significant Growth Over the Forecast Period
Balloon catheters, pivotal in treating peripheral artery disease (PAD), work by dilating narrow or blocked arteries to boost blood flow. These devices, featuring a thin, flexible tube with a balloon tip, offer a less invasive alternative to traditional surgeries, forming a crucial part of the broader PAD management spectrum.
The rising prevalence of PAD, coupled with ongoing advancements in balloon catheter technology like enhanced balloon materials, innovative designs, biocompatible coatings, and advanced drug delivery systems, bolsters the procedures' safety and effectiveness, which is anticipated to drive the segment’s growth over the forecast period.
Innovations in balloon catheters, including novel materials and coatings, aim to enhance procedural efficacy and minimize complications and are expected to spur market growth over the forecast period. For instance, in September 2023, Endovaste introduced a Reewarm PTX Drug-Coated Balloon (DCB) Catheter in Brazil, with its inaugural use at Paulo Sacramento Hospital in Sao Paulo. Looking ahead, Endovastec is committed to expanding its innovative product reach globally, aiming to benefit patients with peripheral vascular diseases.
Furthermore, the development of these advanced devices facilitates access to and dilation of arterial stenoses, which is anticipated to boost the segment’s growth. For instance, in June 2023, BIOTRONIK launched the Oscar Multifunctional Peripheral Catheter during a limited release, initiating promotional efforts at the Leipzig Interventional Course (LINC) in Leipzig, Germany. In the coming months, BIOTRONIK aims to broaden Oscar Catheter's commercial presence in the United States and other CE mark-accepting regions.
Moreover, an increase in product approvals from regulatory bodies is set to enhance market availability, potentially driving segment growth during the forecast period. For instance, in May 2024, BrosMed secured European Medical Device Regulation (MDR) certification for its New Generation PTA SC Balloon Dilatation Catheters, tailored for treating symptomatic peripheral artery disease.
Therefore, owing to the advancements in balloon catheters and the launches and approvals of balloon catheters by key players, the segment studied is expected to grow over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
North America is poised for substantial market growth during the forecast period, driven by a heightened prevalence of peripheral arterial diseases (PAD). This surge in PAD cases amplifies the demand for diagnostic and treatment devices, as well as medications.
The rising incidence of peripheral artery diseases is fueling the demand for interventional procedures aimed at alleviating blockages in the lower limb arteries. For instance, a study published in April 2023 by the Vascular Disease Management Journal projected the prevalence of peripheral artery disease in the United States to reach 22.4 million by 2025 and 23.8 million by 2030. This increase in PAD cases is largely attributed to the aging US population. Consequently, as PAD prevalence rises, the demand for related devices and medications increases, driving the market's expansion.
Various studies are being conducted to assess the use of pharmacology drugs in treating PAD patients. For instance, according to an article published in Medicina Clinica in October 2023, the Canadian Cardiovascular Society 2022 Guidelines recommend treatment with rivaroxaban 2.5 mg twice daily in combination with aspirin (80–100 mg daily) in patients with symptomatic lower-extremity PAD who are at high risk for ischaemic events. Such guidelines propel the use of rivaroxaban in combination with aspirin for treating PAD patients, which is expected to bolster the demand for such drugs in the market, thereby driving market growth over the forecast period.
Furthermore, new product launches and approvals are expected to fuel the availability of peripheral artery disease drugs and devices in the market. This, in turn, is anticipated to propel the market’s growth over the forecast period. For instance, in July 2023, Endologix received FDA approval for its Detour system to treat long, complex superficial femoropopliteal lesions. The detour system offers a new approach called percutaneous transmural arterial bypass (PTAB). It treats complex peripheral artery disease by allowing physicians to bypass lesions in the superficial femoral artery by using stents routed through the femoral vein to restore blood flow to the leg.
Moreover, in April 2024, Abbott received the US Food and Drug Administration’s approval for Esprit™BTK Everolimus Eluting Resorbable Scaffold System (Esprit BTK System), a breakthrough innovation for people with chronic limb-threatening ischemia (CLTI) below-the-knee (BTK). Such product launches and approvals are likely to propel the growth of the regional market during the forecast period.
Therefore, owing to the high burden of peripheral artery diseases and new product approvals, the market studied is expected to grow over the forecast period.
Peripheral Artery Disease Industry Overview
The peripheral artery disease market is characterized by consolidation, with major companies holding significant shares. Their dominance stems from expansive product portfolios, robust research and development capabilities, and far-reaching global distribution networks. Some of the key players in the market are Medtronic, Boston Scientific Corporation, Becton, Dickinson and Company, Abbott, and Edward Lifesciences.
Peripheral Artery Disease Market Leaders
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Medtronic
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Boston Scientific Corporation
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Abbott
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Edward Lifesciences
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Becton, Dickinson and Company,
*Disclaimer: Major Players sorted in no particular order
Peripheral Artery Disease Market News
- September 2024: Shockwave Medical Inc. introduced the Shockwave E8 Peripheral IVL Catheter in the United States following its clearance by the Food and Drug Administration. The Shockwave E8 catheter aims to enhance the treatment of patients suffering from calcified femoropopliteal and below-the-knee peripheral artery disease (PAD). This includes those grappling with complex chronic limb-threatening ischemia (CLTI). With its latest peripheral catheter, Shockwave provides notable advancements, enabling physicians to fine-tune their treatment strategies and more effectively assist patients with severe calcified conditions.
- January 2024: Summa Therapeutics LLC employed its Finesse Injectable balloon catheter platform in human angioplasty procedures for patients suffering from below-the-knee (BTK) peripheral artery disease (PAD). The Summa Finesse Injectable balloon catheter is a dual-purpose device, both diagnostic and therapeutic, designed to aid patients at risk of limb loss due to BTK PAD. This multifunctional catheter acts as a crossing catheter, a diagnostic angiography tool, and an angioplasty instrument, streamlining the process by minimizing the need for additional equipment and contrast agents.
Peripheral Artery Disease Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Burden of Peripheral Artery Diseases
- 4.2.2 Technological Advancements
- 4.2.3 Increasing Prevalence of Risk Factors such as Diabetes and Hypertension, Coupled with a Growing Geriatric Population
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4.3 Market Restraints
- 4.3.1 High Cost of Devices and Stringent Regulatory Guidelines
- 4.3.2 Rising Product Recalls
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Treatment Type
- 5.1.1 Devices
- 5.1.1.1 Balloon Catheters
- 5.1.1.2 Plaque Modification Devices
- 5.1.1.3 Stents
- 5.1.1.4 Atherectomy Devices
- 5.1.1.5 Guidewires and Sheaths
- 5.1.1.6 Other Devices (Bypass Grafts, Hemodynamic Flow Alteration Devices)
- 5.1.2 Drugs
- 5.1.2.1 Lipid-lowering Drugs
- 5.1.2.2 Antiplatelet Drugs
- 5.1.2.3 Thrombolytic Agents
- 5.1.2.4 Triple-H Therapy
- 5.1.2.5 Other Drugs (Glucose Regulating Drugs, Inotropes, Anti-inflammatory Agents)
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5.2 By End User
- 5.2.1 Hospitals
- 5.2.2 Specialty Clinics
- 5.2.3 Ambulatory Surgical Centers
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Konniklije Philips NV
- 6.1.2 B. Braun SE
- 6.1.3 Cook Medical
- 6.1.4 Bayer
- 6.1.5 Medtronic
- 6.1.6 Becton, Dickinson and Company
- 6.1.7 Terumo Medical Corporation
- 6.1.8 BIOTRONIK
- 6.1.9 Abbott
- 6.1.10 Cardinal Health
- 6.1.11 AngioDynamics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityPeripheral Artery Disease Industry Segmentation
As per the scope of the report, peripheral artery disease (PAD) narrows arteries in the legs or arms, diminishing blood flow to these limbs. Often stemming from atherosclerosis, PAD involves the accumulation of fatty deposits in the arteries. Symptoms range from leg pain or cramping during activity to numbness; in severe instances, ulcers or non-healing wounds may occur. PAD is closely associated with other cardiovascular diseases and risk factors, including diabetes, high blood pressure, high cholesterol, and smoking.
The peripheral artery disease market is segmented by treatment type, end user, and geography. By treatment type, the market is divided into devices and drugs. By devices, the market is segmented into balloon catheters, plaque modification devices, stents, atherectomy devices, guidewires and sheaths, and other devices. The other devices segment includes bypass graft devices and hemodynamic flow alteration devices. By drugs, the market is segmented into lipid-lowering drugs, antiplatelet drugs, thrombolytic agents, triple-H therapy, and other drugs. The other drugs segment includes glucose-regulating drugs, inotropes, and anti-inflammatory agents. By end user, the market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. For each segment, the market sizing and forecasts have been done based on value (in USD).
| By Treatment Type | Devices | Balloon Catheters |
| Plaque Modification Devices | ||
| Stents | ||
| Atherectomy Devices | ||
| Guidewires and Sheaths | ||
| Other Devices (Bypass Grafts, Hemodynamic Flow Alteration Devices) | ||
| By Treatment Type | Drugs | Lipid-lowering Drugs |
| Antiplatelet Drugs | ||
| Thrombolytic Agents | ||
| Triple-H Therapy | ||
| Other Drugs (Glucose Regulating Drugs, Inotropes, Anti-inflammatory Agents) | ||
| By End User | Hospitals | |
| Specialty Clinics | ||
| Ambulatory Surgical Centers | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Peripheral Artery Disease Market Research FAQs
How big is the Peripheral Artery Disease Market?
The Peripheral Artery Disease Market size is expected to reach USD 5.12 billion in 2024 and grow at a CAGR of 7.91% to reach USD 7.5 billion by 2029.
What is the current Peripheral Artery Disease Market size?
In 2024, the Peripheral Artery Disease Market size is expected to reach USD 5.12 billion.
Who are the key players in Peripheral Artery Disease Market?
Medtronic, Boston Scientific Corporation, Abbott, Edward Lifesciences and Becton, Dickinson and Company, are the major companies operating in the Peripheral Artery Disease Market.
Which is the fastest growing region in Peripheral Artery Disease Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Peripheral Artery Disease Market?
In 2024, the North America accounts for the largest market share in Peripheral Artery Disease Market.
What years does this Peripheral Artery Disease Market cover, and what was the market size in 2023?
In 2023, the Peripheral Artery Disease Market size was estimated at USD 4.72 billion. The report covers the Peripheral Artery Disease Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Peripheral Artery Disease Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Peripheral Artery Disease Industry Report
Statistics for the 2024 Peripheral Artery Disease market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Peripheral Artery Disease analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
