Report : Asia-Pacific Peripheral Vascular Devices Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Peripheral Vascular Stents, Peripheral Transluminal Angioplasty Balloon Catheters, PTA Guidewires, Atherectomy Devices, Chronic Total Occlusion Devices, Aortic Stents, Synthetic Surgical Grafts, and Embolization Guidewires) and End User (Hospitals & Clinics, Ambulatory Care Centers, Specialty Clinics, and Others)
At 7.1% CAGR, the APAC Peripheral Vascular Devices Market is speculated to be worth US$ 5,035.19 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC peripheral vascular devices market was valued at US$ 2,541.20 million in 2021 and is expected to reach US$ 4,099.93 million by 2028, registering an annual growth rate of 7.1% from 2021 to 2028. Technological advancements in embolization products and procedures and growing geriatric population are the critical factors attributed to the market expansion.
In July 2021, Terumo Medical Corporation introduced its Azur vascular plug, which is compatible with a microcatheter to occlude arteries up to 8 mm in diameter. A new addition to Terumo’s embolization portfolio, the Azur device is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature. Furthermore, in March 2021, Varian Medical Systems, Inc. invested in Bendit Technologies Ltd., a medical device company, developing the Bendit steerable microcatheters for use by interventionalists performing minimally invasive peripheral vascular procedures. These devices can deliver diagnostic, embolic, or restorative materials into the vasculature. Such advancements based on modern technologies are likely to introduce new trends in the peripheral vascular devices market across the region during forecast period.
On the contrary, high costs and complications associated with embolization procedures hurdles the growth of APAC peripheral vascular devices market.
Based on product, the APAC peripheral vascular devices market is segmented into peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, and embolization guidewires. The peripheral vascular stents segment held 34.9% market share in 2021, amassing US$ 887.25 million. It is projected to garner US$ 1,497.96 million by 2028 to expand at 7.8% CAGR during 2021–2028.
Based on end user, the APAC peripheral vascular devices market is segmented into hospitals & clinics, ambulatory care centers, specialty clinics, and others. The hospitals & clinics segment held 39.0% market share in 2021, amassing US$ 989.94 million. It is projected to garner US$ 1,636.46 million by 2028 to expand at 7.4% CAGR during 2021–2028.
Based on country, the APAC peripheral vascular devices market is segmented into China, Japan, India, South Korea, Australia, and Rest of APAC. Our regional analysis states that the China captured 26.2% market share in 2021. It was assessed at US$ 665.54 million in 2021 and is likely to hit US$ 1,103.29 million by 2028, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the APAC peripheral vascular devices market are Abbott, B. Braun Melsungen AG, BD, Boston Scientific Corporation, Cardinal Health Inc, Cook Medical LLC, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, and Terumo Corporation among others.
- In Sep 2021, Abbott acquired Walk Vascular, LLC to expand peripheral vascular offerings, and incorporate into Abbott's existing endovascular product portfolio. Financial terms of the acquisition were not disclosed by the companies.
- In Nov 2020, B. Braun Melsungen AG signed a long-term collaboration with Association for Vascular Access (AVA) to upgrade training on the placement of peripheral intravenous catheters (PIVCs). The organizations developed and provided a new series of online courses free of charge to medical, nursing, respiratory.
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