The global peripheral vascular devices market is expected to reach USD 8,918.8 million by 2020, growing at an estimated CAGR of 7.2% from 2014 to 2020, according to a new study by Grand View Research, Inc. Peripheral vascular devices such as IVC filters, angiography catheters and plague modification devices are used for treating peripheral arterial or coronary arterial diseases caused due to the formation of atherosclerotic plaques in arteries. These devices are used to decrease the interference of patients with minimum disturbance during the surgical procedure.
Increasing global geriatric population base triggering incidence rates of target diseases, extensive presence of both private and public external funding programs, changing lifestyle and eating habits are expected to be key driving factors for this market over the next six years. In addition, presence of untapped growth opportunities in emerging markets such as India, Brazil and China and increasing health awareness are also expected to serve this market as future growth opportunities.
Browse full research report on global peripheral vascular devices market: http://www.grandviewresearch.com/industry-analysis/peripheral-vascular-devices-market
Further key findings from the study suggest:
- Peripheral vascular stents dominated the peripheral vascular devices market in terms of share at over 30.8% in 2013; driven by increasing demand for drug eluting and bio-absorbable stents. Moreover, the ability of these devices to significantly reduce re-stenosis rates is expected to boost product demand.
- Embolic protection devices market is expected to grow at the fastest CAGR of 9.2% during the forecast period; owing to increasing demand for minimally invasive endovascular surgical method for removing atherosclerosis from large blood vessels.
- North America was the largest regional market in 2013, accounting for 40.3% of the global revenue. Presence of sophisticated healthcare infrastructure, high patient awareness levels,…