The global peripheral interventions market size reached USD 9.51 billion in 2023 and is predicted to surpass around USD 22.57 billion by 2033. The market is expanding at a solid CAGR of 9.03% over the forecast period 2024 to 2033.
Key Points
- The North America peripheral interventions market size is exhibited at USD 3.42 billion in 2023 and is expected to attain around USD 8.24 billion by 2033, poised to grow at a CAGR of 9.19% between 2024 and 2033.
- North America dominated the market with the largest revenue share of 36% in 2023.
- Asia- Pacific is the fastest growing in the peripheral interventions market during the forecast period.
- By type, the catheters segment dominated the market in 2023.
- By type, the stents segment shows a notable growth in the peripheral interventions market during the forecast period.
- By application, the peripheral artery disease segment dominated the market in 2023.
- By application, the venous thromboembolism segment is the fastest growing in the peripheral interventions market during the forecast period.
- By end- user, the hospitals segment dominated the peripheral interventions market.
- By end- user, the ambulatory surgical centers segment shows a significant growth in the peripheral interventions market during the forecast period.
The peripheral interventions market encompasses a wide array of medical devices and procedures aimed at treating diseases and conditions affecting the peripheral vascular system. This includes arteries, veins, and lymphatic vessels outside the heart and brain. The market is driven by the increasing prevalence of peripheral vascular diseases (PVDs) such as peripheral artery disease (PAD), deep vein thrombosis (DVT), and varicose veins. These conditions are becoming more prevalent globally due to aging populations, sedentary lifestyles, and rising rates of obesity and diabetes. Peripheral interventions play a crucial role in managing these conditions, offering both minimally invasive and surgical solutions to improve blood flow, reduce symptoms, and prevent severe complications like amputations.
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Growth Factors
Several factors contribute to the growth of the peripheral interventions market. Technological advancements in imaging modalities, such as ultrasound and angiography, have enhanced the accuracy of diagnosis and treatment planning. Minimally invasive techniques, such as angioplasty, stenting, and atherectomy, have gained popularity due to their reduced recovery times, lower risk of complications, and shorter hospital stays compared to traditional open surgeries. Moreover, the increasing adoption of endovascular procedures by healthcare providers and patients seeking less invasive treatment options further fuels market growth. Additionally, the expanding elderly population worldwide, particularly in developed countries, is a significant demographic driver as aging is closely associated with a higher incidence of peripheral vascular diseases.
Trends in Peripheral Interventions
The peripheral interventions market is witnessing several notable trends. One prominent trend is the shift towards outpatient and ambulatory care settings for peripheral procedures, driven by advancements in technology that allow for quicker recovery times and reduced hospital admissions. There is also a growing emphasis on the development of specialized devices and technologies tailored to specific anatomical challenges and patient populations, such as drug-eluting stents for long lesions or chronic total occlusions. Furthermore, there is increasing research and development focused on bioresorbable devices and personalized medicine approaches to enhance treatment outcomes and patient compliance.
Region Insights
Geographically, North America and Europe dominate the peripheral interventions market due to advanced healthcare infrastructure, higher healthcare expenditure, and greater awareness of minimally invasive treatments. These regions also have a significant prevalence of peripheral vascular diseases attributed to lifestyle factors. In contrast, Asia-Pacific is experiencing rapid market growth due to improving healthcare access, increasing disposable incomes, and a rising prevalence of risk factors such as diabetes and hypertension. Emerging economies in Latin America and the Middle East are also expected to contribute to market growth as healthcare infrastructure and awareness continue to improve.
Peripheral Interventions Market Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 9.51 Billion |
| Market Size in 2024 | USD 10.37 Billion |
| Market Size by 2033 | USD 22.57 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 9.03% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product, Application, End-use, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Peripheral Interventions Market Dynamics
Drivers of Market Growth
Key drivers of growth in the peripheral interventions market include the increasing incidence of peripheral vascular diseases globally, advancements in technology enabling minimally invasive procedures, and growing patient preference for less invasive treatment options. Furthermore, the expanding elderly population, coupled with rising healthcare expenditure in developing regions, is expected to drive market expansion. Additionally, government initiatives aimed at improving healthcare infrastructure and reducing the burden of chronic diseases are likely to support market growth in both developed and developing economies.
Opportunities
The peripheral interventions market presents several opportunities for growth and innovation. There is potential for further development of next-generation devices that improve procedural outcomes, reduce complications, and enhance patient comfort. Expansion into emerging markets offers opportunities for market players to address unmet medical needs and tap into growing patient populations. Moreover, collaborations between industry stakeholders, including healthcare providers, manufacturers, and research institutions, can accelerate the pace of innovation and adoption of new technologies in peripheral interventions.
Challenges
Despite the promising growth prospects, the peripheral interventions market faces several challenges. These include stringent regulatory requirements for device approval, which can delay market entry and increase development costs. Economic pressures on healthcare systems, particularly in developing regions, may limit patient access to advanced treatments. Moreover, variations in reimbursement policies and healthcare infrastructure across different countries pose challenges for market penetration and adoption of new technologies. Addressing these challenges requires strategic partnerships, regulatory compliance, and targeted market expansion initiatives by industry stakeholders.
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Peripheral Interventions Market Companies
- Biotronik SE & Co. KG
- Teleflex Incorporated
- Abbott Laboratories
- Boston Scientific Corporation
- Cook Medical
- W. L. Gore & Associates Inc
- Cardinal Health Inc
- Angio Dynamics Inc
- Medtronic
- B. Braun Melsungen AG
- Terumo Corporation
- Becton Dickinson and Company
Recent Developments
- In February 2024, the next-generation intermediate catheter with TruCourse, CEREGLIDE 71 Intermediate Catheter, has been launched by CERENOVUS, Inc., a Johnson & Johnson MedTech division. It is intended for the revascularization of individuals experiencing acute ischemic stroke.
- In June 2023, Blue Medical Devices, a Wellinq group company headquartered in Helmond, the Netherlands, has been acquired by Translumina, a leader in the global market for interventional cardiovascular medical devices with manufacturing facilities in Germany and India. The company was founded in 2013 and manufactures a cutting-edge assortment of balloon catheters, such as Drug-Coated Balloons (DCB) and other specialty balloons for intricate cardiac procedures.
Segments Covered in the Report
By Product
- Catheters
- Sheath
- Stents
- Bare Metal Stents
- Drug-eluting Stents
- Guide Wires
- Atherectomy Devices
- Embolic Devices
- IVC Filters
By Application
- Peripheral Artery Disease
- Venous Thromboembolism
- Others
By End-use
- Hospitals
- Catheterization Laboratories
- Ambulatory Surgical Centers
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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