The global market for peripheral vascular interventions, including lower extremity stents, percutaneous transluminal angioplasty (PTA) balloons, PTA drug-eluting balloons (DEB), carotid stents, and renal stents, will rise from $2.1 billion in 2015 to $3.4 billion by 2022, says research and consulting firm GlobalData.
According to the company’s latest report*, this expansion, which will occur at a compound annual growth rate of 6.8%, will be driven by an increased demand for minimally invasive endovascular procedures, greater availability of improved solutions for femoropopliteal artery revascularization, and the rising prevalence of peripheral artery disease (PAD).
Premdharan Meyyan, GlobalData’s Analyst covering Medical Devices, explains that the prevalence of PAD is rising worldwide due to an increase in risk factors such as diabetes, hypertension, obesity, and tobacco use, resulting in a greater demand for minimally invasive treatments. An increasing number of physicians trained in endovascular techniques will help to address this.
Meyyan comments: “Drug-eluting devices, including DEB and drug-eluting stents, are expected to significantly impact the treatment paradigm of PAD during the forecast period, particularly for complex femoropopliteal and infrapopliteal artery lesions where bare-metal stents and standard balloon angioplasty have not been as effective as long-term treatments.
“The development of more efficient drug delivery systems that maintain drug concentration in the vessel wall for longer periods of time will be a significant market opportunity moving forward, as this will improve long-term efficacy.”
The current key players within the large and dynamic peripheral interventions market are Abbott Vascular, Boston Scientific, C.R. Bard, Cook Medical, Cordis, Medtronic, and W.L. Gore.
Meyyan continues: “Recent high-profile acquisitions, such as Medtronic’s acquisition of Covidien and Cardinal Health’s acquisition of Cordis, will significantly impact the competitive landscape moving forward.
“Companies such as Biotronik, B. Braun, Maquet, and Eurocor are also strong potential competitors which are poised for growth due to investment in innovative technologies within this space, including DEB and polytetrafluoroethylene (PTFE)-covered stents.”
*MediPoint: Peripheral Vascular Interventions – Global Analysis and Market Forecasts