Market Size (2016)
2016
$15.29B
Vertical: HealthcareBase Year: 201811 Sections
Market Size (2016)
2016
$15.29B
Projected (2025)
2025
$23.62B
CAGR (2016–2025)
5.0%
5.0%Key Players
107+
Peripheral artery diseases (PAD) are the diseases of the blood vessels located outside the brain and heart. PAD occurs when plaque builds up in the arteries that carry blood to the head, organs, and limbs. Plaque is made of fat, cholesterol, calcium, fibrous tissue, and other substances in the blood. PAD usually affects the arteries in the legs, but it also can affect the arteries that carry blood from the heart to the head, arms, kidneys, and stomach.
Factors such as rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral artery diseases, along with increasing product approvals, are driving the growth of the peripheral artery disease market. Additionally, rising cases of diabetes are also driving the growth of the peripheral artery disease market. However, product recalls, and failures are hampering the market growth.
The Peripheral Artery Disease Market market is projected to grow at a CAGR of 5.0% from 2016 to 2025.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansMarket Size (USD Mn)
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View Subscription PlansScope of the Study
The scope of the global peripheral artery disease market study includes market size analysis and a detailed analysis of the manufacturer’s products and strategies. The market has been segmented based on treatment type, end user, and region.
Research Objective
To provide a comprehensive analysis of the global peripheral artery disease market and its sub-segments, thereby providing a detailed structure of the industry To provide detailed insights into factors driving and restraining the growth of the global peripheral artery disease marketTo estimate the market size of the global peripheral artery disease market where 2016 to 2017 would be the historic period, 2018 shall be the base year, and 2019 to 2025 will be the forecast period for the studyTo provide region-wise market value analysis for various segments of the global peripheral artery disease marketTo provide strategic profiling of key companies (manufacturers and distributors) present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market To provide a distribution chain analysis/value chain for the global peripheral artery disease market
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2016 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Historical data (2016–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThreat of New Entrants
There are some mandatory regulatory standards to enter into the drugs and devices market. The threat of new entrants is medium in the peripheral artery disease market. The brand loyalty is medium in the peripheral artery disease market and there many established players in the market, which creates difficulties for newcomers to enter this market.
Bargaining Power of Suppliers
In the global peripheral artery disease market, suppliers are raw materials manufacturers for drug manufacturing companies. The bargaining power of suppliers is low as there is a high number of suppliers in the peripheral artery disease market. Additionally, the switching cost is low as no supplier can influence the prices and exercise control in the industry, which makes the bargaining power low.
Threat of Substitutes
The threat of substitutes in the global peripheral artery disease market is low because of the advantages that peripheral artery disease devices offer. Additionally, quality and trust issues and excellent service provided by the existing players restrict the threat by the substitutes. Also, the low-medium degree of switching costs may minimize the threat of substitutes.
Bargaining Power of Buyers
The bargaining power of buyers is moderate in the global peripheral artery disease market. The presence of buyers in the market is growing due to the increasing awareness about the different products, along with the rising prevalence of peripheral artery diseases. Additionally, the presence of providers is also increasing, which makes the bargaining power of buyers moderate due to the low switching costs.
Intensity of Rivalry
The degree of competition in the global peripheral artery disease market is considered to be medium to high. Differentiation among existing players and the introduction of the newer products is increasing the intensity of rivalry in the market. Peripheral artery disease drugs and device manufacturing companies are trying to develop products with high quality, services, and enhanced safety to increase the demand for these products in developed countries and developing regions. Players are engaged in partnering with established organizations and welcoming tie-ups to overcome the competition. Moreover, the players are also developing advanced products for differentiating their brand from competitors.
Market estimates by geography (2025)
InsightNorth America leads with $7.81B by 2025, while Asia Pacific is projected to grow fastest at a 5.6% CAGR.
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View Subscription Plans| REGION | 2016 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $946.26M | $1.21B | $1.34B | 3.9% | 6% |
| North America | $5.05B | $6.56B | $7.81B | 5.0% | 33% |
| Asia Pacific | $3.14B | $3.92B | $5.14B | 5.6% | 22% |
| Europe | $4.84B | $6.24B | $7.35B | 4.7% | 31% |
| South America | $1.31B | $1.71B | $1.99B | 4.7% | 8% |
| Total | $15.29B | $19.64B | $23.62B | 5.0% | 100% |
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View Subscription PlansTotal Market Size
$23.62B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Hospitals and Clinics | $11.21B | 5.0% | 81% |
| Ambulatory Surgery Centers | $8.77B | 5.0% | 78% |
| End User_Others | $3.64B | 5.0% | 72% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Peripheral Artery Disease Market covering market dynamics, competitive landscape, and strategic outlook.
The Peripheral Artery Disease Market market is projected to reach $23.62B by 2025, growing at 5.0% CAGR. The Hospitals and Clinics segment holds the largest share.
Peripheral artery diseases (PAD) are the diseases of the blood vessels located outside the brain and heart. PAD occurs when plaque builds up in the arteries that carry blood to the head, organs, and limbs. Plaque is made of fat, cholesterol, calcium, fibrous tissue, and other substances in the blood. PAD usually affects the arteries in the legs, but it also can affect the arteries that carry blood from your heart to your head, arms, kidneys, and stomach.
Factors such as rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral artery diseases, along with increasing product approvals, are driving the growth of the peripheral artery disease market. Additionally, rising cases of diabetes are also driving the growth of the peripheral artery disease market. However, product recalls and failures are hampering the market growth.
Likewise, growth in emerging markets would serve as an opportunity for market growth.
The aging population is highly prone to degenerative diseases and chronic illnesses which eventually leads to a rise in diagnosis and treatment. PAD is caused due to buildup of plaque that causes arteries to narrow which eventually limits the flow of oxygen-rich blood to organs and other parts of the body. According to a study by the American Heart Association in 2016, the prevalence of PAD was 6.6% in patients aged 55 to 59 and was about 59.6% in patients aged 85 years or older in the US. The prevalence of PAD affects approximately 5 to 10 million Americans and is a leading cause of disability among people more than 50 years and those with diabetes in the US. According to the National Center for Biotechnology Information, the prevalence of PAD increases with age; it occurs in 3% of people less than 60 years, but its prevalence increased to 15% to 20% among individuals greater than 70 years in 2017 globally. According to the World Health Organization, by 2050, the world’s population aged 60 years and older is expected to be 2 billion, up from 900 million in 2015. Furthermore, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above in 2018.
This rise in the aging population will lead to a rise in PAD cases which will eventually lead to growth in the peripheral artery disease market.
Developing economies pose an opportunity for various markets as they have undeveloped research & development sector owing to which they are unable to address upcoming health challenges. In spite of huge demand, the African region is dependent on imported medicines and other health technologies. Although there is a high requirement of treatment, poor economic conditions lead to the slow growth of the healthcare industry within the African region. The National Center for Biotechnology Information stated that Peripheral artery disease (PAD), affected approximately 202 million people worldwide in 2019, among which more than two-thirds reside in low- and middle-income countries (LMIC). Moreover, The Lancet stated that peripheral artery disease remains largely undiagnosed and untreated worldwide because a large proportion of patients have the asymptomatic disease.
Hence the rising need for the treatment of peripheral artery disease in developing economies act as an opportunity for the growth of the market.
A product recall is a request to return a product after the discovery of safety issues or product defects that might endanger the consumer or put the maker/seller at risk of legal action. Product recalls of devices meant for peripheral artery disease by the FDA has led to a dip in the growth of the peripheral artery disease market. For instance, the Food and Drug Administration (FDA) has issued a safety alert regarding the increased risk of death associated with the use of paclitaxel-coated balloons and paclitaxel-eluting stents for the treatment of peripheral arterial disease (PAD).
Additionally, Bard Peripheral Vascular sent an urgent Class I medical device recall notification for its LifeStent Solo vascular stent. This stent caused serious health consequences, including possible complications of bleeding, loss of limb, heart attack, stroke, vascular surgery and/or death. Similar product recalls during the forecast period are likely to hamper market growth.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 107 companies operating in the Peripheral Artery Disease Market market, including revenue, employee count, and market positioning where available.
Showing 107 of 107 companies
Biotronik
Company Headquarters: Berlin, Germany Founded: 1963 Workforce: ~9,000 Company Working: Biotronik is a leading global medical device company with products and services that improve and save the lives of patients suffering from endovascular and cardiovascular diseases. The company’s technologies enable physicians around the world to provide patients the highest standard of care. Its medical devices are created by engineers and designers in Germany, the US, Switzerland, and Singapore. The company is a Golden Goose in the US because of its medium to strong market share, strong profit margins, and slower revenue growth than some of its competitors in the Medical Device Manufacturing industry, where it accounts for an estimated 0.5% of total industry revenue. The company research, develops, and manufactures in technologically advanced countries, including Germany, Switzerland, the US, and Singapore.
Cardinal Health
Company Headquarters: Ohio, US Founded: 1971 Workforce: ~50,000 Company Working: Cardinal Health is a global, integrated healthcare services and products company. The firm provides customized solutions for hospitals, health systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physicians’ offices worldwide. It operates through two business segments, namely, medical products and pharmaceuticals. Through these segments, it offers cost-effective solutions that enhance the supply chain efficiency from hospital to home. It connects patients, providers, payers, pharmacists, and manufacturers for integrated care coordination and better patient management. Through its services and products, it serves nearly 85% of hospitals, more than 26,000 pharmacies, and more than 10,000 specialty physician offices and clinics across the US. In the fiscal year 2018, nearly 50,000 global employees operated in more than 46 countries.
Cook Group
Cook Group, a privately held company, operates in the global nephrectomy market through its sub-subsidiary Cook Medical Incorporated (Cook). It is involved in the development of surgical technologies. The company has multiple categories of a wide range of surgical products and services. The company is focused on developing products minimally invasive surgical procedures. The company mainly operates through the vascular and MedSurg divisions. The MedSurg division comprises of surgery, critical care, urology, and others. The company has a strong presence in the Americas, Europe, Asia, and other regions.
Terumo Medical Corporation
Company Headquarters: Tokyo, Japan Founded: 1921 Workforce: 25,000 Company Working: Terumo Medical Corporation delivers innovative health solutions and provides breakthrough solutions and technologies. The company is involved in manufacturing and sales of medical products and equipment, such as pharmaceuticals, nutritional food supplements, disposable medical devices, vascular grafts, and blood glucose monitoring systems, among others. It has a market presence in over 160 countries in the world. It operates its business through three segments, namely, cardiac and vascular company, blood management company, and general hospital company. Terumo Interventional Systems (TIS), a division of Terumo Medical Corporation, is a market leader in minimally invasive entry site management, lesion access, and interventional technologies. TIS offers a complete, solution-based product portfolio used in advanced coronary, peripheral endovascular and urological treatments with strategic initiatives in Transradial Access, Complex Coronary Intervention, Peripheral Artery Disease and Embolotherapy.
Koninklijke Philips NV
Company Headquarters: Amsterdam, Netherlands Founded: 1891 Workforce: 77,000 (2018) Company Working: Koninklijke Philips NV (Philips) is a market leader in healthcare technology. The company has a strong sales and distribution network worldwide and operates in more than 100 countries. Philips offers products through segments, including medical devices, health systems, cardiology, health tech, oncology, respiratory, fertility, and pregnancy. The company deals in maternity care, child care, and oral healthcare products; male grooming and beauty products; food preparation and home care products; and sleep and respiratory care products. It delivers diagnostic X-ray, integrated clinical, magnetic resonance imaging, computed tomography, and molecular imaging solutions. Moreover, the company also offers healthcare information technology, clinical, and visualization and quantification informatics solutions for radiology, cardiology, and oncology; universal data management solutions, picture archiving and communication systems, and integrated electronic medical record systems; clinical and hospital IT platforms; technology-enabled monitoring and intervention, actionable program, cloud-based, and population health management software solutions. The company was formerly known as Koninklijke Philips Electronics N.V. and changed its name to Koninklijke Philips N.V. in May 2013.
Boston Scientific Corporation
Company Headquarters: Massachusetts, US Founded: 1979 Workforce: ~36,000 Company Working: Boston Scientific Corporation is a worldwide developer, manufacturer, and marketer of medical devices used in a range of interventional medical specialties. The company collaborates with healthcare professionals to develop a broad portfolio of meaningful innovations that improve outcomes, reduce costs, and increase efficiencies. Its product portfolio is majorly divided into endoscopy, interventional cardiology, neuromodulation, peripheral interventions, rhythm management, and urology & pelvic health. In addition, Boston Scientific serves hospitals, clinics, outpatient facilities and medical offices across the world. Boston Scientific Corporation's manufacturing facilities are located across Malaysia, the US, and Ireland. Apart from this, it has a presence in countries like Japan, the Netherlands, France, Poland, India, China, Turkey, South Africa, and Singapore.
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Peripheral Artery Disease Market