The peripheral vascular devices market size was exhibited at USD 10.55 billion in 2024 and is projected to hit around USD 18.72 billion by 2034, growing at a CAGR of 5.9% during the forecast period 2024 to 2034.
| Report Coverage | Details |
| Market Size in 2025 | USD 11.17 Billion |
| Market Size by 2034 | USD 18.72 Billion |
| Growth Rate From 2024 to 2034 | CAGR of 5.9% |
| Base Year | 2024 |
| Forecast Period | 2024-2034 |
| Segments Covered | Type, Application, End-use, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Covered | North America; Europe; Asia Pacific; Latin America; MEA |
| Key Companies Profiled | Abbottt; Koninklijke Philips N.V.; Edward Lifesciences Corporation; Medtronic; Teleflex Incorporated; Cook Group; Cordis; Boston Scientific Corporation; W. L. Gore & Associates, Inc.; Biotronik; BD; Terumo Corporation |
The rising prevalence of Peripheral Arterial Disease (PAD) is significantly driving the growth of the market. PAD has a significantly high prevalence in both developed and emerging economies globally. For instance, according to a study published in American Heart Association Journals in June 2023, more than 12 million Americans had PAD, with global prevalence reaching around 200 million population. Similarly, according to the Australian Institute of Health and Welfare data article published in June 2024, PAD was recorded in around 59,100 hospitalizations in 2020-21. Similarly, PAD was an underlying cause of mortalities in the country, accounting for around 1.1% or 1,900 deaths in 2021.
The growth of the peripheral vascular devices market is significantly influenced by the increasing number of clinical trials and studies focusing on vascular health. Clinical trials allow researchers to evaluate the safety and efficacy of new devices and techniques in treating peripheral vascular diseases (PVD). For instance, in March 2024, BD initiated the AGILITY study, enrolling its first patient to evaluate the safety and effectiveness of the BD Vascular Covered Stent for treating Peripheral Arterial Disease (PAD). This global, multi-center clinical trial will involve 315 patients across 40 U.S., Europe, Australian, and New Zealand sites. The study aims to address significant unmet needs in PAD treatment. It could provide interventionalists with a new solution to improve patient outcomes over the next three years of follow-up. As these trials expand, they can validate existing technologies and pave the way for novel interventions that address unmet medical needs.
Introducing novel products that address the evolving needs of patients and healthcare providers significantly contributes to market growth. The launch of these products includes cutting-edge technologies such as drug-eluting capabilities, bioresorbable materials, and others. For instance, in December 2023, Terumo India launched Ultimaster Nagomi, an advanced drug-eluting coronary stent system designed for complex percutaneous coronary interventions (PCI). The stent features an optimized delivery system, expanded size range, and increased overexpansion capability, allowing it to adapt to challenging anatomies. Ultimate Nagomi aims to improve patient outcomes by enabling customized stent selection for small to large coronary arteries.
Moreover, in May 2024, Abbott introduced the XIENCE Sierra Everolimus Eluting Coronary Stent System in India, designed to enhance treatment for patients with blocked coronary arteries. This next-generation stent features an improved design, a new delivery system, and specialized sizes to address complex cases effectively. XIENCE Sierra aims to provide greater flexibility and precision for interventional cardiologists, making it easier to navigate challenging blockages. This focus on innovation addresses clinical challenges and enhances procedural efficiency, leading to increased adoption of these devices among healthcare professionals.
The peripheral stents segment held a significant share of nearly 21.7% in 2024. The rising government support in the form of funding and approvals is encouraging manufacturers to develop technologically advanced peripheral stents. Peripheral stents are small wire mesh tubes that open a peripheral artery blocked by plaque. For instance, in March 2022, Cordis received the U.S. FDA approval for its S.M.A.R.T. RADIANZ Vascular Stent System. It is a self-expanding stent specifically designed to assist with radial peripheral procedures. This innovative system enables precise & efficient placement of stents in the iliac and superficial femoral arteries. Moreover, the growing prevalence of peripheral arterial disease is anticipated to fuel the market growth over the forecast period.
The PTA balloons segment is expected to grow during the forecast period. The increasing prevalence of cardiovascular diseases worldwide is one of the major factors expected to drive the market. Moreover, the rising government support in the form of approvals is driving manufacturers to develop technologically advanced and cost-effective PTA balloons. Percutaneous Transluminal Angioplasty (PTA) balloons are mainly used during minimally invasive catheterization procedures. These catheters help in enlarging narrow vessel openings. For instance, in July 2022, BrosMed Medical received 510(k) clearance from the U.S. FDA for its Tiche 0.035” PTA Balloon Dilatation Catheter. This device is designed to provide physicians with a reliable and effective tool for treating Peripheral Artery Disease (PAD). With this clearance, BrosMed Medical can now market its PTA Balloon Dilatation Catheter to healthcare facilities and physicians looking for a high-quality, innovative solution to treat PAD. These factors are expected to contribute to market growth during the forecast period.
The peripheral arterial disease (PAD) segment held the largest share of nearly 45.3% in 2024. The rising prevalence of peripheral artery disease and government initiatives drive segment growth. In recent years, there has been a significant increase in research focused on peripheral arterial disease (PAD), driven by the growing prevalence of cardiovascular diseases and advancements in diagnostic technologies. This study surge aims to improve understanding of PAD’s pathophysiology, treatment options, and patient outcomes. In March 2024, BD, a medical technology firm, initiated the "AGILITY" study by enrolling its first participant. This study is part of an investigational device exemption (IDE) trial designed to evaluate the BD Vascular Covered Stent's safety and efficacy in treating Peripheral Arterial Disease (PAD). The tested device is a self-expanding, low-profile stent made of nitinol and encapsulated in polytetrafluoroethylene, introduced through a delivery system that ensures controlled release.
The aneurysms segment is expected to grow during the forecast period. The increasing prevalence of cardiovascular diseases worldwide and technological advancements. Peripheral arterial aneurysms are abnormal dilations of peripheral arteries, most commonly occurring in the popliteal artery. They often result from atherosclerosis and can lead to complications such as thromboembolism, although rupture is relatively rare. A July 2023 Merck Manual article reported that around 70% of peripheral arterial aneurysms are found in the popliteal region and 20% in the iliofemoral area. These aneurysms occur alongside abdominal aortic aneurysms and are bilateral in more than half of the cases. While rare, ruptures can cause thromboembolism, leading to sudden blockage of arteries farther down the limb.
The hospitals segment held the largest share of nearly 65.0% in 2024. Hospitals are crucial in administering advanced medical procedures, including Percutaneous Transmural Arterial Bypass (PTAB). These facilities have specialized surgical units, advanced imaging technologies, and highly trained medical personnel for minimally invasive surgeries. In the context of PTAB, hospitals provide an environment where interventional cardiologists or vascular surgeons can utilize catheters and other specialized tools to navigate the vascular system. This setting is essential for ensuring patient safety, managing anesthesia, and providing immediate post-operative care. In July 2024, Trumbull Regional Medical Center broadened its range of treatments for complex Peripheral Artery Disease (PAD) with the introduction of the Percutaneous Transmural Arterial Bypass (PTAB) procedure, utilizing the DETOUR System. This treatment, designed to tackle long lesions in the superficial femoral artery (SFA), positioned Trumbull Regional as the pioneering facility in the region and the second in the state to offer this specific therapy option.
The ambulatory surgical centers segment is expected to grow during the forecast period. The growth of ambulatory surgery centers (ASCs) is influenced by increased government support and reimbursements. Enhanced reimbursement policies make it financially viable for ASCs to adopt advanced peripheral vascular devices, leading to a rise in outpatient procedures. In a June 2023 CDI Strategies article, a ProPublica analysis based on CMS and Medicare data revealed that from 2017 to 2021, approximately 90 physicians (the top 5% of atherectomy specialists) conducted over a third of all such procedures and received a significant portion of the government payments. The data showed that the number of atherectomies and related physician payments nearly tripled from 2013 to 2021, totaling around USD 503 million in 2021. Among these, one doctor was paid more than USD 30 million by CMS for vascular procedures over the past decade.
North America peripheral vascular devices market dominated the peripheral vascular devices with a share of 38.9% in 2024. The peripheral vascular devices market exhibits consistent growth owing to several factors, including the growing incidence of Peripheral Artery Disease (PAD), rising geriatric population, and rapid advancements in medical technology. According to a CDC article published in May 2024, In the U.S., around 6.5 million individuals aged 40 and older are affected by peripheral artery disease (PAD). The substantial number of PAD cases highlights the increasing demand for advanced stenting solutions to address the challenges associated with this condition, driving market growth.
U.S. Peripheral Vascular Devices Market Trends
The U.S. peripheral vascular devices market has a pivotal role in the peripheral vascular devices market, characterized by a dynamic regional landscape featuring substantial growth and notable technological progress. The demand for peripheral vascular devices is growing due to several factors, such as the rising incidence of cardiovascular diseases and an increasing number of clinical trials exploring stent applications in PAD.
Moreover, advanced healthcare facilities, rising healthcare expenditures, and product launches boost market growth. For instance, in June 2024, MicroVention, a division of Terumo, officially launched its LVIS EVO intraluminal support device in the U.S. This new stent is designed to provide advanced intraluminal support, marking a significant addition to the company’s product lineup. The introduction of LVIS EVO is expected to enhance treatment options for patients requiring support for complex vascular conditions. The U.S. market for peripheral vascular devices exhibits intense competition, characterized by numerous well-established entities and emerging startups such as BD, Medtronic, Abbott Laboratories, Cardinal Health, and Cook Medical striving to gain a competitive edge. Key market players also launch novel products, fueling market growth.
Europe Peripheral Vascular Devices Market Trends
The European peripheral vascular devices market is projected to experience growth during the forecast period, driven by an increasing prevalence of vascular diseases. This rise in vascular conditions is primarily linked to demographic changes and lifestyle factors, particularly among the aging population. As the geriatric demographic expands, so does the demand for peripheral vascular devices used in diagnosis and treatment. Additionally, ongoing advancements in medical technology are leading to the development of innovative, minimally invasive devices for vascular interventions, which often contribute to better patient outcomes and reduced recovery times.
The peripheral vascular devices market in the UK has been growing in recent years due to the increasing cases of PAD in this region. According to the British Heart Foundation article published in August 2024, about one in five individuals over the age of 60 in the UK experience some form of peripheral artery disease (PAD). The key risk factors contributing to PAD, such as smoking, diabetes, obesity, and high blood pressure, mirror those associated with heart disease and stroke. Notably, the rising prevalence of diabetes is driving an increase in PAD cases. This growing burden of PAD is expected to increase demand within the UK peripheral vascular devices market as healthcare providers seek advanced treatment options to address the condition and manage its complications effectively.
France peripheral vascular devices market is anticipated to witness significant growth during the forecast period. The rising prevalence of peripheral artery disease fuels market growth. According to the Elsevier B.V. article published in June 2024, In France, Peripheral Artery Disease (PAD) affects up to 20% of the population. Previous estimates revealed that 12.2% of individuals with one or more cardiovascular risk factors were found to have asymptomatic PAD, as identified through ankle-brachial index assessments. This significant prevalence signals a growing demand for advanced treatment solutions, including peripheral vascular devices, to better address and manage PAD nationwide.
Germany's peripheral vascular devices market has grown over the forecast period. The rising number of vascular diseases and technological advancements in peripheral vascular devices fuel the market's growth. Effective monitoring is essential for ensuring patient safety, optimizing surgical outcomes, and managing postoperative recovery. As the volume of surgeries increases, healthcare systems in Germany face challenges related to enhancing surveillance, integrating advanced technologies, and managing extensive data. According to a Hogrefe article published in October 2023, peripheral artery disease (PAD) affects approximately 15-20% of the population in Germany, and this prevalence has been rising over time. With the growing number of individuals diagnosed with PAD, there is an increasing demand for advanced treatment options, including stents.
Asia Pacific Peripheral Vascular Devices Market Trends
Asia Pacific peripheral vascular devices market is expected to witness the fastest growth over the forecast period owing to the rising incidence of diabetes, which leads to the increasing incidence of peripheral vascular disorders. Moreover, the growing demand for minimally invasive treatments, technologically advanced treatments, and improving healthcare infrastructure are some of the factors projected to lead the market in the upcoming years.
China's peripheral vascular devices market has grown significantly over the forecast period. China's growing peripheral artery disease burden fuels the demand for covered stent solutions. According to the NCBI article published in August 2023, over the past three decades, China has made significant strides in improving the accessibility and quality of medical care, now leading among middle-income countries. The nation's cardiovascular technologies are among the most advanced globally, and substantial progress has been made in addressing the "treatment difficulty" associated with cardiovascular diseases (CVD). China in China, about 45.3 million individuals are affected by peripheral artery disease (PAD), highlighting an ongoing need for effective treatment solutions, including covered stents.
Japan's peripheral vascular devices market is expected to witness intense competition, characterized by the active participation of multinational enterprises and specialized entities striving for market dominance. Some key players are involved in mergers & acquisitions, partnerships, and collaborations for product portfolio expansion, which is expected to contribute to market growth. For instance, in November 2023, Penumbra Inc. and Asahi Intecc Group entered a definitive distribution agreement. This follows the initial basic agreement granting exclusive sales rights for a device for peripheral vascular thrombus aspiration, namely Indigo and Lightning system, in the market by Asahi Intecc J-sales, Inc. It is noteworthy that Penumbra’s Peripheral Vascular Thrombus Aspiration system, specifically the Indigo system, received approval under the Japanese Pharmaceutical & Medical Device Act in April 2023.
The Saudi Arabia peripheral vascular devices market growth is propelled due Increasing PAD prevalence. According to a BioMed Central Ltd article published in March 2024, a recent study conducted in Saudi Arabia reported a prevalence of peripheral artery disease (PAD) at 11.7% among a cohort of 471 patients aged 45 years and older. The higher prevalence observed in this study may be attributed to the limited sample size and the specific age demographic, which tends to be more vulnerable to vascular conditions. As the population ages and the incidence of risk factors such as diabetes and hypertension continue to rise, the implications for PAD management become increasingly significant.
Kuwait peripheral vascular devices market is witnessing a surge. The principal factor propelling the growth of the market in Kuwait is the high due to rising rate of cardiovascular disease mortality. According to an NCBI article published in October 2023, In Kuwait, cardiovascular diseases (CVDs) account for 46% of mortality rates, highlighting a significant public health concern. This high mortality rate underscores the urgent need for effective management and treatment options for CVD, including peripheral artery disease (PAD). As a result, there is likely to be an increased demand for peripheral vascular devices in Kuwait as healthcare providers seek advanced solutions to address the growing burden of cardiovascular-related health issues.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the peripheral vascular devices market
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