Global Peripheral vascular device Market Size By Type (Peripheral stents grafts, Angioplasty catheters), By Application (Male Patient, Female Patient), By Region, And Segment Forecasts, 2023 to 2032

lobal Peripheral Vascular Device Market Report Description

The Global Peripheral Vascular Device Market was valued at USD 10.1 billion in 2023 and is expected to reach USD 17.9 billion by 2031, growing at a CAGR of 7.2% during the forecast period from 2023 to 2031. The growth is fueled by the increasing prevalence of peripheral artery disease (PAD), advancements in minimally invasive procedures, rising geriatric population, and the growing demand for effective vascular access and intervention devices. The increasing awareness about early diagnosis and treatment, coupled with expanding healthcare infrastructure in emerging economies, is further boosting market expansion.

Drivers:

Rising Prevalence of Peripheral Artery Disease:

Globally, millions are affected by PAD, a condition associated with atherosclerosis that narrows arteries and restricts blood flow. The rising incidence, particularly among elderly and diabetic populations, is driving demand for peripheral vascular interventions.

Advancements in Minimally Invasive Technologies:

Continuous innovation in catheter-based procedures, balloon angioplasty, and stenting technology is leading to safer and more effective treatment options. These innovations reduce hospital stay and recovery time, increasing their adoption across the globe.

Expanding Geriatric Population:

The elderly are more susceptible to vascular diseases. As this demographic grows worldwide, the demand for peripheral vascular devices increases, especially in developed and aging societies.

Restraints:

High Cost of Advanced Devices and Procedures:

While peripheral vascular interventions have become more effective, the associated devices and surgeries are often expensive. This poses a challenge, particularly in low-income and underinsured populations.

Stringent Regulatory Approvals:

The approval process for peripheral vascular devices is complex and time-consuming. Regulatory constraints can delay market entry and affect the pace of innovation and adoption.

Opportunity:

Expansion in Emerging Markets:

Developing regions like Asia-Pacific and Latin America are witnessing a surge in vascular disorders, coupled with better access to healthcare and rising disposable incomes. This provides untapped potential for device manufacturers.

Focus on Drug-Coated and Bioabsorbable Technologies:

The emergence of drug-coated balloons, drug-eluting stents, and bioresorbable vascular scaffolds is expected to revolutionize peripheral vascular interventions. These innovations are driving clinical interest and market opportunity.

Market by System Type Insights:

Based on system type, the stents segment accounted for the largest revenue share in 2023. Stents are extensively used in the treatment of arterial blockages and offer long-term patency. Drug-eluting and self-expanding stents are particularly favored for their enhanced efficacy and reduced restenosis rates.

The angioplasty balloons segment is projected to witness the fastest growth, driven by increased preference for balloon angioplasty as a primary or adjunctive procedure in peripheral vascular interventions.

Market by End-use Insights:

In terms of end-use, hospitals and surgical centers dominated the market in 2023, owing to the availability of advanced infrastructure, skilled professionals, and high patient footfall for vascular interventions. This segment is expected to maintain its dominance through 2031.

Meanwhile, ambulatory surgical centers (ASCs) are projected to grow at a significant CAGR, due to their cost-effectiveness, shorter wait times, and adoption of outpatient-based vascular procedures.

Market by Regional Insights:

Geographically, North America held the largest share of the peripheral vascular device market in 2023, supported by a high burden of PAD, well-established reimbursement systems, and the presence of major industry players.

Asia-Pacific is expected to register the highest growth rate during the forecast period, driven by growing awareness, improved healthcare access, and rising investments in medical technologies in countries like China, India, and Japan.

Competitive Scenario:

Key players in the global peripheral vascular device market include:

Medtronic plc

Abbott Laboratories

Boston Scientific Corporation

Terumo Corporation

Cook Medical

Cardinal Health

BD (Becton, Dickinson and Company)

Cordis (a Cardinal Health company)

B. Braun Melsungen AG

BIOTRONIK

These companies are actively investing in R&D, launching next-generation vascular technologies, and expanding their geographic footprint through mergers, acquisitions, and strategic collaborations.

Scope of Work – Global Peripheral Vascular Device Market

Report Metric Details

Market Size (2023) USD 10.1 billion

Projected Market Size (2031) USD 17.9 billion

CAGR (2023–2031) 7.2%

Market Segments By System Type (Stents, Balloons, Catheters), By End-use (Hospitals, ASCs, Specialty Clinics), By Region

Growth Drivers Rising PAD prevalence, Geriatric population