The global peripheral vascular devices market is estimated to account for US$ 8,918.9 Mn in terms of value in 2020 and is expected to reach US$ 14,592.7 Mn by the end of 2027.

PVD refers to the narrowing of arteries outside of the brain and heart. Hypertension, obesity, diabetes, and smoking are all risk factors for the progression of PVD. For the therapy of these obstructed arteries and the removal of plaque buildup, peripheral vascular devices are employed. The most often used devices for the treatment of PVD are peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, and aortic stents.

Drivers of the Global Peripheral Vascular Devices Market

Over the forecast period, the worldwide peripheral vascular devices market is expected to develop due to an increase in the prevalence of peripheral arterial disease. According to data from the National Center for Biotechnology Information from May 2018, around 200 million people globally suffer from peripheral arterial disease.

Furthermore, the rising prevalence of geriatric disorders is predicted to increase demand for peripheral vascular devices. According to the World Health Organization, the global geriatric population will reach 2 billion by 2050, up from 900 million in 2015.

Restraints in the Global Market for Peripheral Vascular Devices

The worldwide Peripheral Vascular Devices Market is projected to be hampered by infection from peripheral vascular implantations. In the realm of medicine, the insertion of a foreign body has become a necessary procedure; nonetheless, medical devices are connected with the danger of bacterial and fungal infection. Because peripheral vascular implants come into close touch with the body, they have a higher risk of infection than other devices.

Furthermore, product recalls are projected to stymie industry expansion. For example, Medtronic plc recalled all models of its 6 French Sherpa NX Active Guide Catheter in October 2019 because to a risk that the exterior material could detach from the device and cause broken parts to enter the patient's bloodstream.

Major players in the global peripheral vascular devices market are focused on adopting M&A strategies to expand their product portfolio. For instance, in June 2020, Becton, Dickinson and Company acquired Straub Medical AG, a privately-held company that develops and sells medical atherectomy and thrombectomy devices that treat peripheral arterial disease (PAD) and venous disease.