In 2023, the global peripheral angioplasty market is expected to be worth USD 3.4 billion. The market is expected to reach USD 7.2 billion by 2033, expanding at a 7.7% CAGR throughout the forecast period. A minimally invasive treatment called peripheral angioplasty is used to treat peripheral arterial disease (PAD), which is marked by the constriction or obstruction of blood vessels in the peripheral arteries, usually in the legs. A catheter with a little balloon at its tip is inserted into the troubled artery during the treatment. Inflation of the balloon widens or unblocks the artery, improving blood flow. The market for peripheral angioplasty has been expanding recently as a result of a number of causes, including an increase in the prevalence of PAD, technological developments, and a growing desire for minimally invasive procedures.
Peripheral artery disease affects a significant portion of the global population, especially elderly individuals and those with risk factors such as smoking, diabetes, and hypertension. The increasing prevalence of PAD is driving the demand for peripheral angioplasty procedures. The development of innovative devices and techniques has significantly improved the outcomes of peripheral angioplasty procedures. Advancements include the introduction of drug-coated balloons and drug-eluting stents, which help prevent restenosis (re-narrowing of the artery) and enhance long-term results.
The peripheral angioplasty market is also competitive, with several established and emerging players offering a range of devices and technologies. Intense competition may influence sales figures as companies strive to gain market share through product differentiation, pricing strategies, and marketing efforts.
Key Takeaways from the Peripheral Angioplasty Market:
- The peripheral angioplasty industry in the United States is predicted to reach USD 2.3 billion by 2033, increasing at a 6.8% CAGR.
- The peripheral angioplasty industry in the United Kingdom is estimated to reach a market share of USD 229.3 million, expanding at a CAGR of 4.2% by 2033.
- During the forecast period, the peripheral angioplasty industry in China is expected to reach a market share of USD 732.1 million, securing an 13.0% CAGR.
- The peripheral angioplasty industry in Japan is predicted to reach USD 448.8 million by 2033, increasing at a 9.0% CAGR.
- South Korea’s peripheral angioplasty industry is predicted to achieve a market share of USD 143.7 million, rising at an 8.7% CAGR during the forecast period.
- With a CAGR of 5.2% from 2023 to 2033, the balloon catheters segment is expected to dominate the peripheral angioplasty industry.
- With a CAGR of 6.3% from 2023 to 2033, the hospital is expected to dominate the peripheral angioplasty industry.
Peripheral Angioplasty in Demand: Check Out Our Full Report for a Complete Overview of the Trends and Insights!
How Does the Competition Look in the Peripheral Angioplasty Market?
The peripheral angioplasty sector is a very competitive one, with many firms fighting for market share. Several significant participants in this industry comprise Boston Scientific Corporation, Medtronic, Abbott Laboratories, Terumo Corporation, Johnson & Johnson, Cook Medical, B. Braun Melsungen AG, Edwards Lifesciences Corporation, Becton, Dickinson and Company, MicroPort Scientific Corporation, Teleflex Incorporated, W. L. Gore & Associates, “Biotronik SE & Co. KG”, AngioDynamics, Inc.
The main corporations are investing extensively in research and development efforts to develop inventive and creative products with improved reliability, efficacy, and cost.
Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence.
Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.
To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.
Key Developments in the Peripheral Angioplasty Market:
In May 2022, Medtronic announced that the IN.PACT™ paclitaxel-coated percutaneous transluminal angioplasty balloon catheter received approval from the U.S. Food and Drug Administration (FDA).
Segmentation Analysis of the Peripheral Angioplasty Market:
By Product:
- Balloon Catheters
- Stents
- Guidewires
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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