Peripheral Vascular Devices Market

Medtronic (US) and Boston Scientific Corporation (US) are leading players in Peripheral Vascular Devices Market

The peripheral vascular devices market is projected to reach USD 14.4 billion by 2024 from USD 10.3 billion in 2019, at a CAGR of 6.8%. Market growth is largely driven by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, approval of new and advanced products, and the increasing prevalence of diabetes. High growth in emerging economies such as China, India, and Brazil are also driving the demand for peripheral vascular devices. However, the availability of alternative treatments and product failures and recalls are the major factors that are expected to restrain the growth of this market during the forecast period.

The peripheral vascular devices market is highly consolidated in nature, with a few players offering a variety of products. The major players operating in this market are Medtronic (US), Boston Scientific Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain), Becton, Dickinson and Company (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany). The key strategies followed by most companies in the peripheral vascular devices market are product launches & approvals and acquisitions. These two strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018.

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Medtronic accounted for the largest share of the peripheral vascular devices market in 2017. The company mainly focuses on product approvals and launches to strengthen its position in the peripheral vascular devices market. In 2018, the company received the CE Mark approval for its Valiant Navion thoracic stent graft system. Similarly, in 2017, the company received approval from the Japanese Ministry of Health, Labour and Welfare (MHLW) for its IN.PACT Admiral drug-coated balloon. The company also received CE mark approval for the HawkOne 6F Directional Atherectomy System.

Boston Scientific accounted for the second-largest share of the peripheral vascular devices market. The company mainly focuses on product approvals & launches and agreements to strengthen and expand its business operations. For instance, in 2018, the company received FDA approval for Eluvia, a drug-eluting vascular stent system for the treatment of PAD. Similarly, in 2015, the company entered into an agreement with C.R. Bard (US) to distribute the Lutonix 035 Drug-coated Balloon Percutaneous Transluminal Angioplasty Catheter (Lutonix DCB) in the US.

Related Reports:

Peripheral Vascular Devices Market by Type (Angioplasty Balloon, Stent, Catheters (Angiography, IVUS), Plaque Modification (Atherectomy, Thrombectomy), Hemodynamic Flow Alteration (Embolic Protection), IVC Filters, Guidewires) - Global Forecast to 2024

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Report Code
MD 1254
RI Published ON
1/4/2018
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