Peripheral Artery Angioplasty Market Size: Market Outlook and Market Forecast (2024 to 2031)
Executive Summary
The global Peripheral Artery Angioplasty market research reports indicate a steady growth trajectory for the market, which is expected to grow at a CAGR of % during the forecasted period. The market is witnessing a surge in demand due to the rising prevalence of peripheral artery disease and the increasing adoption of minimally invasive procedures for the treatment of vascular disorders.
Key market trends in the Peripheral Artery Angioplasty market include the increasing preference for drug-coated balloons and stents, advancements in technology leading to the development of innovative products, and the rising number of endovascular procedures performed worldwide. Additionally, the growing geriatric population and the rising incidence of lifestyle-related diseases are driving the demand for peripheral artery angioplasty procedures.
Geographically, the market is segmented into North America, Asia Pacific, Europe, the USA, and China. North America holds a significant share in the market due to the high prevalence of peripheral artery disease and the presence of well-established healthcare infrastructure. The Asia Pacific region is anticipated to witness substantial growth during the forecast period, attributed to the increasing healthcare expenditure, rising awareness about minimally invasive procedures, and the growing geriatric population.
Overall, the Peripheral Artery Angioplasty market is experiencing steady growth, driven by factors such as technological advancements, rising prevalence of vascular diseases, and increasing healthcare expenditure. The market is expected to expand further in the coming years, especially in emerging economies like China and India, owing to the growing demand for minimally invasive procedures and the rising healthcare infrastructure.
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Market Segmentation:
This Peripheral Artery Angioplasty Market is further classified into Overview, Deployment, Application, and Region.
In terms of Components, Peripheral Artery Angioplasty Market is segmented into:
- Medtronic, Inc.
- BD
- Boston Scientific Corporation
- Abbott Laboratories
- Cordis
- Acotec
- Biotronik
- Terumo Corporation
- Shanghai MicroPort Endovascular MedTech（Group）Co., Ltd.
- Cook Medical
- Lepu Medical
- Zylox-Tonbridge Medical Technology Co., Ltd.
- LeoMed
- LifeTech Scientific Corporation
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The Peripheral Artery Angioplasty Market Analysis by types is segmented into:
- Balloon Angioplasty
- Stent Implantation
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The Peripheral Artery Angioplasty Market Industry Research by Application is segmented into:
- Lower Limbs
- Renal Artery
- Carotid Artery
In terms of Region, the Peripheral Artery Angioplasty Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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Key Drivers and Barriers in the Peripheral Artery Angioplasty Market
Key drivers in the Peripheral Artery Angioplasty market include technological advancements in minimally invasive procedures, increasing prevalence of peripheral arterial disease, growing elderly population, and rising demand for effective treatment options. However, barriers such as stringent regulatory approvals, high costs associated with devices and procedures, and lack of awareness among patients are limiting market growth.
Challenges faced in the market include limited healthcare infrastructure in developing countries, shortage of skilled healthcare professionals, and the risk of complications associated with angioplasty procedures. Additionally, reimbursement issues and increasing competition from alternative treatment options pose significant challenges for market players.
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Competitive Landscape
Medtronic, Inc. is a global leader in medical technology, services, and solutions. The company is known for its extensive portfolio of products used in the treatment of cardiovascular diseases, including peripheral artery disease. Medtronic has a strong track record of innovation and has shown consistent market growth over the years. The company's sales revenue in 2020 was $ billion.
Boston Scientific Corporation is another key player in the peripheral artery angioplasty market. The company develops and manufactures a wide range of medical devices, with a focus on interventional cardiology and peripheral interventions. Boston Scientific has a strong presence in the market and has shown steady growth in recent years. In 2020, the company reported sales revenue of $10.7 billion.
Abbott Laboratories is a multinational medical devices and healthcare company that also has a significant presence in the peripheral artery angioplasty market. The company's portfolio includes a range of products used in the treatment of cardiovascular diseases, including drug-eluting stents and balloon catheters. Abbott Laboratories has a history of successful acquisitions and partnerships that have contributed to its market growth. In 2020, the company reported sales revenue of $34.6 billion.
Overall, these companies are key players in the competitive peripheral artery angioplasty market, each with a strong presence and a history of innovation and growth. Their commitment to developing cutting-edge technologies and delivering high-quality healthcare solutions has positioned them as leaders in the industry.
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