Peripheral arterial disease, also known as peripheral vascular disease is a condition in which the arteries, other than supplying blood to heart and brain narrow down. Peripheral arterial disease mostly affects the legs, though other arteries may also be involved. Peripheral arterial disease is caused by the deposition of fats (plaques) in the artery walls which reduce the blood flow to organs, limbs and head. The population over the age of 50 are at the risk of suffering from peripheral arterial disease.
The growing geriatric population, increasing therapies, rising minimally invasive techniques support the growth for peripheral arterial disease market. It has been estimated that globally around 20% of the total population above the age of 60 years are affected by peripheral arterial diseases. High risk factors such as smoking and diabetes contributes towards increase in incidence rate of peripheral arterial diseases which would stimulate the growth of peripheral arterial disease market globally.
The peripheral arterial disease therapeutic market has been segmented into devices, drugs and pipeline. The devices segment is further categorized into devices such as peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA Guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, embolic protection devices and inferior vena cava filters. The peripheral vascular stents accounts for the largest share, followed by peripheral transluminal angioplasty balloon catheters.
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While emnolic protection devices are the fastest growing segment in the global peripheral arterial disease therapeutic market. The drugs segment can be segmented on the basis of cholesterol-lowering drugs, high blood pressure lowering drug, blood sugar regulating drug, and blood clot preventing drug. The phase III pipeline drugs for peripheral arterial disease include Rivaroxaban (Bayer), DLBS1033 (Dexa Medical Group), clopidogrel (SR25990) (Sonofi), Propionyl-L-Caritine (Sigma-Tau Research, Inc.) and others.
Geographically, peripheral arterial disease therapeutic market has been segmented in North America, Europe, Asia Pacific, Latin America and Rest of the World (RoW). North America, accounted for the largest share in the overall peripheral arterial disease therapeutic market. The dominance is majorly due the high adoption rates of minimally invasive surgeries, higher healthcare expenditure and patient awareness, making North America the leading market for peripheral arterial disease therapeutic market.
Europe accounted for the second largest market for peripheral arterial disease therapeutic market. The aging population would boost the demand for peripheral arterial devices in the forecast period. Asia Pacific is anticipated to be the most lucrative market for peripheral arterial disease therapeutic market. The major factors attributing the fastest growth of this region is the presence of large patient pool with unmet medical needs, acting as the opportunity for the players operating in this market.
Growing healthcare scenario in the Asian countries coupled with the growing GDP and government initiative would assist the market growth for peripheral arterial disease therapeutics market. South American countries such as Brazil and Mexico are the regions that have significant potential for growth due to developing medical infrastructure, high disposable income and rising prevalence of peripheral arterial disease in the region assisting the market growth. The Rest of the World includes countries such as Russia and countries of Middle East and Africa. The market for peripheral arterial disease therapeutic is subject to grow due to the improving government initiative and rising awareness.
Some of the major players operating in the peripheral arterial disease therapeutics market are Abbott Laboratories, Angioscore, Inc., Edward Lifesciences Corporation, Medtronic Inc., Boston Scientific Corporation, Bayer, Volcano Corporation, Sanofi S.A. and others.