The global peripheral arterial diseases (PAD) market is anticipated to grow at a CAGR of 7.9% during the forecast period. Extra cholesterol and other fats accumulate in the walls of the arteries, causing PAD. This extra build-up, which is known as plaque, narrows a patient’s artery and decreases blood flow. The rising prevalence of PAD has been a significant driver of market growth. For instance, according to the American Heart Association, around 8.5 million individuals in the US in 2019 suffering from PAD, which most of them age 65 and older. With the rising geriatric population by 2050, an estimated 19 million people in the US will have PAD.
Furthermore, the other factors that are affecting the growth of the peripheral arterial disease market include the rising habit of smoking, increasing high blood pressure patients, rising diabetes patients, and geriatric population, among others. For instance, according to World Health Organization (WHO), by 2050 the population with 60 years or above is expected to have 2 billion across the globe. As per the Center for Disease Control and Prevention, in 2019 around 34.1 adults in the US smoke cigarettes. Nearly 14 of every 100 US adults with age 18years or older smoked cigarettes, which is accounted for 14%.
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Certain factors, such as the high cost of PAD care and the absence of reimbursement policies in low-income countries, are limiting the global PAD market’s development. In addition, lack of awareness about PAD diagnosis and treatment in underdeveloped countries hinders the market growth. However. increasing healthcare infrastructure in developing economies such as China and India is expected to fuel market growth. Furthermore, a robust pipeline of drugs for these diseases contributes significantly to the global development of the PAD industry.
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Global Peripheral Arterial Diseases Market Segmentation
· By Treatment Device
· Peripheral Vascular Stents
Balloon Catheters
· PTA Guidewires
· Atherectomy Devices
· Chronic Total Occlusion Devices
· Aortic Stents
· Synthetic Surgical Grafts
· Others (Embolic Protection Devices and Inferior Vena Cava Filters)
By Drugs
· Cholesterol-Lowering Drugs
· High Blood Pressure Lowering Drug
· Blood Sugar Regulating Drug
· Blood Clot Preventing Drug
By End-User
· Hospitals and Clinics
· Diagnostic Centres
· Research Institutes
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
