Revolutionizing Healthcare: PAD Devices Industry Soars with Impressive CAGR of 7.5% Till 2030

According to Next Move Strategy Consulting, the Peripheral Artery Disease (PAD) Devices market size is expected to exceed $7.8 billion by 2030, showing a remarkable CAGR of 7.5% till 2030.

As the healthcare sector strives for advanced solutions to address vascular issues and improve patient outcomes, PAD devices emerge as a critical player in enhancing medical interventions for arterial conditions.

Market Overview:

The PAD devices industry is witnessing substantial growth, fueled by the increasing prevalence of vascular diseases and a surge in healthcare transformation initiatives. With a focus on elevating patient care and addressing the challenges posed by arterial disorders, PAD devices are poised to play a pivotal role in meeting the evolving healthcare needs globally.

Request a FREE sample report, here, https://www.nextmsc.com/peripheral-artery-disease-market/request-sample

Key Market Drivers:

1. Rising Vascular Disorders: The escalating incidence of vascular diseases is a primary driver propelling the PAD devices industry. As the global population ages and lifestyle factors contribute to arterial conditions, the demand for advanced PAD interventions is witnessing a significant upswing.

2. Technological Advancements: Ongoing research and development initiatives in PAD technologies are driving transformative results. Innovations in diagnostic devices, stents, angioplasty balloons, and other PAD solutions are enhancing treatment efficiency, patient outcomes, and overall effectiveness.

3. Growing Healthcare Awareness: Increasing awareness about the importance of early detection and intervention for vascular disorders is driving the demand for PAD devices. Patients are increasingly seeking timely and effective solutions, boosting the adoption of advanced PAD treatments.

4. Aging Population: The increasing age of the global population is contributing to a higher prevalence of Peripheral Artery Disease (PAD). This demographic shift is boosting the demand for specialized devices designed to manage and treat PAD in older individuals. As aging is a significant risk factor for PAD, there's a growing need for innovative devices to address the unique challenges of this condition in elderly patients, shaping the landscape of the PAD industry.

5. Government Initiatives and Healthcare Investments: Governments worldwide recognize the impact of vascular diseases on healthcare systems. Strategic investments and healthcare reforms are creating a conducive environment for the growth of the PAD devices market.

Market Segmentation:

The PAD devices market covers various segments, including:
Type: Based on type, the market is segmented into peripheral angioplasty balloons, peripheral catheters, inferior vena cava (IVC) filters, peripheral stents, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories.

Geographical Regions: Based on region, the market is analyzed into North America, Europe, Asia-Pacific, and Rest of World (RoW).

For any queries, inquire before purchasing, here, https://www.nextmsc.com/peripheral-artery-disease-market/inquire-before-buying
Outlook and Future Prospects:

The PAD devices market is poised for sustained growth, driven by continuous technological advancements, increasing healthcare investments, and the rising prevalence of vascular disorders globally. The industry is expected to witness collaborations, research endeavors, and innovations that will further enhance the efficiency and accessibility of PAD treatments.

Access the full report, here, https://www.nextmsc.com/report/peripheral-artery-disease-market

Despite the positive outlook, challenges such as high treatment costs and the need for skilled professionals may impact market growth.

Avail customized reports: https://www.nextmsc.com/services

Regional Dominance:

North America held the prominent market share in the global PAD device industry. This is primarily attributed to the increasing prevalence of peripheral arterial disease (PAD) especially in countries such as the U.S. and Canada. In 2021, an estimated 6.5 million people in the U.S. aged 40 and older had PAD, according to the Centers for Disease Control and Prevention.

In addition, the expanding healthcare sector and rising healthcare spending on treating conditions such as PAD, cancer, and cardiovascular diseases are further fueling the PAD device market's growth in this region. According to the Centers for Medicare & Medicaid Services, the U.S. national healthcare spending reached $4.3 trillion in 2021, up from $4.1 trillion in 2020.

On the other hand, the Asia-Pacific region is experiencing fastest growth in the PAD device market, driven by the aging population in countries such as Japan, China, and Thailand are more susceptible to various diseases, including peripheral arterial disease, contributing to the growth of the PAD device market in this region. According to the World Bank, Japan has the highest proportion of elderly people, with 30% of its total population exceeding the age of 65 in 2021.

Furthermore, the rapid expansion of healthcare sectors in countries such as China, India, and Japan is paving the way for innovative medical treatments, including PAD vascular doppler, propelling the growth of the PAD device market. According to the International Trade Administration, China's healthcare industry stands out as one of the world's fastest-growing, with a projected revenue of USD 38.4 billion by 2025, a significant increase from USD 19.2 million in 2019.

Competitive Landscape:

The market comprises various players such as Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Inc., Terumo Corporation, Cook Medical, Becton, Dickinson and Company, Koninklijke Philips N.V, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG among others. These market players are adopting several strategies, such as approvals, across various regions to maintain their dominance in the global market.

For instance, in June 2023, Endologix received FDA approval for its Detour femoropopliteal lesions treatment device, providing a new and effective option for treating PAD. The Detour system enables physicians to bypass long lesions and cases where previous endovascular procedures have failed, addressing a critical need in PAD treatment. Endologix plans to launch the Detour system in the U.S. soon.

In addition, in October 2022, Medtronic Plc introduced the Neurovascular Co-Lab Platform to foster innovation in stroke care and treatment. This initiative aims to expedite the development of novel therapies for stroke patients.

Contact Us:

Next Move Strategy Consulting
Full Postal Address: 5th Floor, 867 BOYLSTON ST STE 500
E-Mail: info@nextmsc.com
Direct: +1-217-650-7991
Website: www.nextmsc.com

About Us:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports. We assist multinational companies in gaining a competitive edge and expanding their industry presence by capturing a larger market share. Our research methodology combines primary research, secondary research, data mining, and data analytics to deliver reliable insights.

Over a decade, we have served over 1,000 global customers, including 90% of Fortune 500 companies. Our analysts constantly monitor high-growth markets and uncover hidden opportunities in various sectors. We offer top-quality syndicate and custom research reports across ten different industry verticals, catering to your unique business needs. Our industry-standard delivery solutions, from pre-consultation to after-sales services, ensure an exceptional client experience and support informed strategic decision-making.

This release was published on openPR.