PORTLAND, Ore., May 16, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Peripheral Artery Disease Market by Product Type (Devices and Drugs), and End User (Hospitals and Specialty Clinics): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "peripheral artery disease market" was valued at $4.5 billion in 2023, and is estimated to reach $10.8 billion by 2035, growing at a CAGR of 7.7% from 2024 to 2035.

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Prime determinants of growth

The peripheral artery disease market is expected to grow significantly owing to rise in the prevalence of peripheral artery disease, surge in the geriatric population, and rise in the adoption of minimal invasive procedures.  Furthermore, technological advancement in peripheral artery disease treatment devices is expected to present significant growth opportunities in the peripheral artery disease market.

Report coverage & details

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The drug segment to maintain its leadership status throughout the forecast period

By product type, the drug segment held the highest market share in 2023 and is expected to dominate during the forecast period, accounting for three-fifths of the peripheral artery disease market revenue, owing to the regular need of drugs to control blood cholesterol levels to avoid progression of peripheral artery disease.

The hospitals segment to maintain its leadership status throughout the forecast period

By end user, the hospitals segment held the highest market share in 2023, accounting for more than half of peripheral artery disease market revenue owing to peripheral artery disease often requiring complex diagnostic procedures, medical management, and interventional treatments such as angioplasty, stenting, or bypass surgery. Hospitals are equipped with the necessary infrastructure, including specialized imaging facilities, operating rooms, and skilled medical professionals, to deliver these treatments effectively.

However, the specialty clinics segment is expected to register the highest CAGR during the forecast period, owing to specialty clinics being typically more efficient and cost-effective than hospitals for certain peripheral artery disease related services. With lower overhead costs and streamlined processes, specialty clinics can provide high-quality care at competitive prices, appealing to patients and payers alike.

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North America to maintain its leadership status throughout the forecast period

By region, North America held the highest market share in 2023, accounting for more than one-third of peripheral artery disease market revenue. This is attributed to the strong presence of key players in the region, well-developed healthcare infrastructure, and rise in the prevalence of peripheral artery disease. However, Asia-Pacific is expected to register a noteworthy CAGR during the forecast period, owing to rise in the geriatric population and surge in the prevalence of cardiovascular disease.

Leading Market Players

• Philips N.V.
• Braun Melsungen AG
• Medtronic
• Bayer AG
• Boston Scientific Corporation
• Becton Dickinson and Company
• Terumo Medical Corporation
• Biotronik
• Cardinal Health
• Abbott

The report provides a detailed analysis of these key players in the peripheral artery disease market. These players have adopted different strategies such as product approval, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario

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