Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The Global Peripheral Vascular Devices And Equipment Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The global peripheral vascular devices and equipment market was valued at about $5.34 billion in 2018 and is expected to grow to $6.22 billion at a CAGR of 3.9% through 2022.
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Market Segmentation
Top leading Companies of Global Peripheral Vascular Devices And Equipment Market are – Medtronic, Boston Scientific Corporation, Abbott, Cook group, Angiomed GmbH & Co. and Medizintechnik KG
Markets Covered: 1) By Type: Peripheral vascular stents, Percutaneous transluminal angioplasty balloons, Catheters, PTA guide wires, Atherectomy devices, Chronic total acclusion devices, Aortic stents, Synthetic surgical grafts, Embolic protection devices, Inferior vena cava filters 2) By End User: Hospital applications, Clinic applications, 3) By Application: Treatment of Peripheral Blood Vessels Damaged, Treatment of Peripheral Blood Vessels Blockage
The peripheral vascular devices and equipment market is driven by the rising number of people with peripheral artery diseases. Peripheral artery diseases are caused when arteries in the human body are blocked by plaque consisting of fats, cholestrol and other substances restricting their blood flow to important organs. The number of peripheral artery disease cases has increased from 395 million in women and 265 million in men in 1990, to 695 million in women and 506 million in men in 2016. According to Center for Disease Control and Prevention (CDC), approximately 8.5 million people in the USA are suffering from peripheral artery diseases, of which 12-20% are aged above 60 years.
Stringent approval processes, product recalls and failures acts as a restraint to the peripheral vascular devices and equipment market. Product recalls and failures potentially affect the brand image of the companies within this market. According to the US Food and Drug Administration (FDA), a product recall is made to perform corrective actions or prevent hazardous effects to patients. For instance, in March 2019, Medtronic recalled its pulmonary vein ablation catheter to update its instructions for reducing the potential for phrenic nerve injury. To reduce incidences associated with the peripheral devices and ensure that the devices are safe and have least adverse reactions, FDA is restricting devices for use, sending field safety notices and making product recalls to correct the devices. These stringent approval processes and regulatory policies may impact the peripheral devices and equipment market.
Bio-absorbable stents are gaining popularity in the peripheral vascular devices and equipment market in order to eliminate thrombogenic risk factors and enhance clinical applicability. Bio-absorbable stents are made of natural soluble materials that disappear after insertion and eliminate the risk of late-stent thrombosis. They help in protecting the body from inflammation or reduced blood flow due to late-stent thrombosis (a condition where the stent used for treatment stays inside the body for prolonged period of time). Companies in this market are increasing their focus on developing and commercializing bio-absorbable stents. For instance, in 2017, companies such as Kyoto medical and Abbott developed remedial bio-absorbable stents and bioresorbable vascular scaffold (BVS) for treating peripheral vascular diseases. The market for global bioresorbable stents is expected to grow from $242.4 million in 2017 to $417.2 million by 2022 at an annual growth rate of 11.5%.
In May 2019, Medicines and Healthcare products Regulatory Agency (MRHA), a regulatory body for medical devices of the UK, sent an urgent field safety notice to Medtronic, a medical device manufacturer, on its MAHURKAR* and Argyle* Acute Hemodialysis Catheters, as the priming volume values and instructions printed on the MAHURKAR* and Argyle* acute catheters are higher than required to fill each lumen. These devices impacted patients health and aided to hematoma following heparin flush. To reduce incidences associated with these devices, MRHA is sending field safety notices and medical device alerts in order to correct the peripheral vascular devices.
In November 2018, Boston Scientific acquired BTG plc, a UK-based healthcare company for $4.2 billion. This acquisition would strengthen Boston Scientific to expand its products in the treatment of peripheral vascular diseases such as pulmonary embolism and expand its peripheral interventions portfolio with minimally-invasive treatments for cancers and vascular conditions. BTG plc, manufactures, develops and commercializes products related to pharmaceuticals for minimally-invasive procedures for treating cancer, vascular diseases and other disorders. It was founded in 1991 and is headquartered in London.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Peripheral Vascular Devices And Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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