The global peripheral arterial disease (PAD) market is anticipated to grow at a CAGR of 7.9% during the forecast period (2021-2027). The rising change in lifestyle of people such as lack of physical activity, rise in smoking, and consumption of tobacco, and increasing diabetes contributes towards an increase in the incidence rate of PAD which would stimulate the growth of peripheral arterial disease market globally. The rising prevalence of PAD disease, increasing awareness for the treatment, rising FDA approvals, and increasing geriatric population is driving the peripheral arterial disease market during the forecast period. For instance, as per the United Nations, in 2019 the population with an age of 65 years or above was 9% across the globe. Besides, as per the National Institute of Health, the PAD prevalence across the globe is around 202 million.
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In September 2020, AngioDynamics, Inc. a provider of minimally invasive medical devices for vascular access, peripheral vascular disease, and oncology, has announced the launch of Auryon Atherectomy System, an FDA approved innovative technology for the treatment of PAD including Critical Limb Ischemia (CLI) and In-Stent Restenosis (ISR). Besides, in October 2020, Johnson & Johnson Services, Inc. has announced the submission of a New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a new indication to expand the use of XARELTO (rivaroxaban) in patients with PAD. This advancement in XARELTO vascular dose (2.5 mg twice daily plus aspirin 75-100 mg once daily) would benefit in reducing the risk of major thrombotic vascular diseases such as heart attack, stroke, and amputation in patients after recent lower-extremity revascularization, a common procedure in which blood flow is restored to the legs and feet due to symptomatic PAD.
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Besides, the Shockwave M5 IVL catheter (“M5 catheter”) of Shockwave Medical, Inc. got approved by FDA. This is a five-emitter catheter for use in our IVL System in “medium” vessels for the treatment of above-the-knee PAD. The M5 catheter was CE-Marked in April 2018 and cleared by the U.S. Food and Drug Administration (“FDA”) in July 2018. Apart from it, the Shockwave S4 IVL catheter (the “S4 catheter”) is a four-emitter catheter for use of small arteries in our IVL System for the treatment of below-the-knee (BTK) PAD. The FDA approved the second variant of our S4 catheter in August 2019, and the S4 catheter is CE-marked. Thus, the various FDA approvals for drugs and devices developed by the key players for the treatment of PAD are to drive the growth of the global PAD market.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global PAD Market Report Segment
By Treatment Device
- Peripheral Vascular Stents
- Peripheral Transluminal Angioplasty 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 Global Market Post. Global Market Post is not responsible for any content included in this release.)
