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Peripheral artery disease Market Expected to reach $4,980 Million by 2023

peripheral artery disease market was valued at $3,136 million in 2016, and is projected to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The peripheral stents segment held more than two-fifth share of the total market in 2016.

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Peripheral artery disease Market Expected to reach $4,980 Million by 2023

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  1. Peripheral Artery Disease Market

  2. The introduction of new interventional treatment options such as atherectomy drives the market growth. Atherectomy is beneficial in removing the build-up of plaque in arteries with the help of stent or catheter. Thus, with the increase in prevalence of calcified and hard lesions the market for atherectomy is expected to grow The global peripheral artery disease market is projected to grow at a CAGR of 6.8% from 2017 to 2023, driven by rise in chronic diseases in geriatric population, massive healthcare improvement, and the advent of advanced interventional products. The peripheral stents segment would continue dominating the market in the future. Asia-Pacific is expected to grow at the highest CAGR of 7.7% during the forecast period. Get Sample Report

  3. The growth of the global peripheral artery disease market is driven by the rise in geriatric population which has further increased the prevalence of chronic diseases, significant improvement of healthcare infrastructure in developing economies, and the introduction of advanced interventional products. Additionally, an increase in awareness of peripheral artery diseases in developing countries would provide lucrative opportunities for emerging market players in the near future. However, strict approval process for stents and restenosis hamper market growth.

  4. By type, the peripheral stents segment is expected to continue its dominance during the forecast period and occupy almost two-fifths of the global shares in 2023. This is attributed to technological innovations that have led to the development of bio-engineered stents, EPC capture stents, and dual therapy stents. Also, peripheral stents have the ability to prevent plaque build-up or vessel collapse, further driving market growth. Meanwhile, the plaque modification devices segment is expected to grow at the fastest CAGR of 7.6% from 2017 to 2023, on account of surge in incidences of plaque buildup in peripheral arteries and the fact that plaque removal before stenting prevents restenosis.

  5. Key Findings of the Peripheral Artery Disease Market: • Atherectomy devices is projected to grow at a CAGR of 7.9% during the forecast period. • Chronic total occlusion devices accounted for more than two-fifth of the share of the global peripheral artery disease market, in 2016. • Aspiration thrombectomy segment is expected to register the highest CAGR of 10.3% during the analysis period. • Drug-eluting stents is expected to grow at the CAGR of 7.7% during the forecast period. • France and Germany collectively contributed for more than one-third share of the European peripheral artery disease market in 2016. • Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific peripheral artery disease market in 2016.

  6. Industry Key Players The key players analyzed in the report include Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Cardinal Health, Inc., C. R. Bard, Inc., Medtronic plc, Terumo Corporation, The Spectranetics Corporation, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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