The Global Peripheral Vascular Devices Market is Expected to Grow at a Rate of 6.4% Over the Next 7 Years.The global peripheral vascular devices market is expected to grow at a Compound Annual Growth Rate (CAGR) of around 6.4% over the period 2009-2016.

The global peripheral vascular devices market is expected to grow at a Compound Annual Growth Rate (CAGR) of around 6.4% over the period 2009-2016. The global peripheral vascular devices market was valued at $4.1 billion in 2009 and is forecast to reach $6.4 billion by 2016. The high growth potential of the market and its continuing technological advances are garnering considerable interest from investors and device manufacturers. The peripheral vascular devices market is categorized into 7 segments, among which Peripheral Vascular Stents was the largest, with revenues of $1.2 billion in 2009, closely followed by Percutaneous Transluminal Angioplasty (PTA) balloons, with a market value of $1.1 billion in 2009. Aortic Stent Graft is the fastest growing segment, with a CAGR of 14% over the period 2002-2009, and is expected reach revenues of $1.6 billion by 2016. Peripheral vascular stent is expected to continue holding the largest share in the PV devices market, with forecast revenues of $1.6 billion by 2016.

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The growth of the peripheral vascular devices market can be attributed to several factors, with the most significant being rising incidence rates of both Peripheral Vascular Disease (PVD) and aortic aneurysms, and technological advancements in the treatment options available. Growing rates of high risk factors for these diseases like population aging, excessive smoking, average hypertension and cholesterol levels, and presence of genetic and co-morbid influences are responsible for the rise in incidence rates in the past decade. The asymptomatic nature of both these diseases is a big reason for low treatment-seeking behavior and ineffective treatment procedures, resulting in fatal cases. However, this situation has changed in the past few years, with a rising number of screening initiatives by the healthcare associations of individual countries. Treatment modalities and methods have vastly improved in the past few years and this is expected to continue with new indications of the complex peripheral vasculature. Alongside this, a large number of prospective pipeline products and ongoing clinical studies will ensure the continued growth of this market.

Abbott Vascular, Cordis Corporation and Boston Scientific Corporation are the major players in the peripheral vascular devices market, with company shares of 17%, 16.8% and 15.1% respectively. The increasing complexity of design requirements for the peripheral vasculature can be attributed to the fact that no single company overwhelmingly dominates the market. C.R. Bard Inc. and Medtronic Inc., with market shares of 11.2% and 10.2% respectively, are other significant players in the peripheral vascular devices market. The success of minimally invasive procedures for treatment of PVD is shifting the focus of the manufacturing and research units of major cardiovascular giants to the interventional radiology field. At the same time, the competition for domination in this market is expected to get stiffer with rising demand, product extensions, new technological innovations and market deals.

GlobalData’s new report, “Peripheral Vascular Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global peripheral vascular devices market. The report provides market landscape, competitive landscape and market trends information the peripheral vascular devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

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