Peripheral Interventions Market Revenue to Cross USD 11.5 Bn by 2027: Global Market Insights Inc.
APAC peripheral interventions market is estimated to attain a CAGR of 16.9% till 2027 owing to significantly increasing elderly population pool contributing to the disease burden.
SELBYVILLE, Del., March 9, 2021 /PRNewswire/ -- According to the latest report "Peripheral Interventions Market by Product (Catheters, Sheath, Stents, Guide Wires, Atherectomy Devices, Embolic Devices, Thrombectomy Devices, IVC Filters), Application (Peripheral Artery Disease, Venous Thromboembolism), End-use (Hospitals, Catheterization Laboratories, Ambulatory Surgical Centres), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of peripheral interventions will cross $11.5 billion by 2027. Technological developments in interventional devices with increasing preference for non-invasive procedures will foster market growth.
During the initial phase of COVID-19 pandemic, operating facilities including catheterization laboratories and ambulatory surgical centers have witnessed a decline in procedural volume. A significant decrease in the number of patients visiting emergency departments was observed in highly affected areas. Thus, the industry experienced moderate impact initially; however, with the relaxation of restrictions with a decrease in cases, the market continued to grow momentously in the latter phase of 2020. An increasing multitude of disorders including peripheral artery diseases and cancer has further contributed to the market expansion. Thus, with the rising geriatric pool and incidence of atherosclerosis, the market will showcase substantial growth during the forecast years.
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Technological advancements to offer enhanced care and improved treatment outcomes will offer unprecedented opportunities for the peripheral interventions market value in the coming years. The efficiency of advanced devices during non-invasive interventional procedures has boosted their adoption. To augment the product demand and expand the customer base, major industry players are extensively focusing on advancing product technologies that will further increase the procedural volume.
Guidewires segment in the peripheral interventions market accounted for USD 400 million in 2020 led by the increasing use of guidewire technology in complex lesions during interventional procedures. Expanding applications of peripheral vascular guidewires in carotid, abnormal aortic aneurysm (AAA), renal, and lower limb interventions will influence the product demand. In addition, the development of guidewires to provide optimal devices with durability, crossability and maneuverability for target lesions will impel the segment revenue.
The peripheral artery disease (PAD) segment is projected to progress at a 7.8% growth rate until 2027. PAD including atherosclerosis is one of the major diseases wherein blockages are formed in the peripheral arteries. Such blockages can lead to life-threatening conditions and reduce the quality of life. Thus, timely address of it is necessary. The interventional approach has gained substantial popularity in recent years to treat PADs. Thus, with the growing risk of plaque build-up in arteries owing to consumption of high-carbohydrate and fat-rich food, the segment will experience robust growth over the coming years.
The peripheral interventions market for ambulatory surgical centers (ASCs) segment is estimated to attain a CAGR of 7.5% through 2027 impelled by increasing patient population undergoing interventional procedures in ASCs. Improving reimbursement scenarios in ambulatory surgical centers in developed countries will further fuel the segment growth. The growing acceptance of newer technologies to continue patient preference for facilities along with expanding facility networks in emerging economies will also offer immense growth opportunities to the segment expansion. Moreover, reduced stay, lower cost, convenient environment and availability of highly skilled professionals will propel the segment value.
Asia Pacific peripheral interventions market is poised to register 16.9% CAGR during 2021 to 2027 on account of the significantly increasing elderly population pool contributing to the disease burden. Growing healthcare expenditure leading to the development of highly sophisticated healthcare facilities in the region will boost the procedural volume. Along with growing disease prevalence, awareness regarding non-invasive treatments and the adoption of high-end technologies will spur product demand. Additionally, leading market players continuously focusing on product development and entry in the regional market play a vital role in uplifting growth for the APAC region.
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Major companies operating in the market include Cardinal Health, Johnson & Johnson, Abbott Laboratories, Medtronic, Boston Scientific Corporation and Becton Dickinson & Company among others. Industry leaders are implementing various strategies such as product innovations and collaborations to gain a competitive advantage for business expansion.
Table of Contents (ToC) of the report:
Chapter 3 Peripheral Interventions Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Reimbursement scenario
3.8 Patent landscape
3.9 Technology landscape
3.10 Pipeline analysis
3.11 Porter's analysis
3.12 Competitive landscape, 2020
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Peripheral Interventions Market Growth Predicted at 8% Through 2027: GMI
Major peripheral interventions market players include Cardinal Health, Johnson & Johnson, Abbott Laboratories, Medtronic, Boston Scientific Corporation and Becton Dickinson & Company.
Related Links
Interventional Cardiology & Peripheral Vascular Devices Market
SOURCE Global Market Insights Inc.
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