Report : Middle East & Africa 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 5.8% CAGR, the MEA Peripheral Vascular Devices Market is speculated to be worth US$ 793.82 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA peripheral vascular devices market was valued at US$ 534.63 million in 2021 and is expected to reach US$ 793.82 million by 2028, registering an annual growth rate of 5.8% from 2021 to 2028. Growing geriatric population and technological advancements in embolization products and procedures are the critical factors attributed to the market expansion.
The growing geriatric population and the rise in associated peripheral artery diseases are likely to create growth opportunities. As per the United Nations, 46% of people aged 60 and above have disabilities. Furthermore, the accumulation of health risks across a lifespan of disease, injury, and chronic illness contributes to higher disability rates among older people. These factors indicate that the growing geriatric population and the rise in associated peripheral artery diseases are likely to create lucrative opportunities for the market during the forecast period across the region.
On the contrary, high costs and complications associated with embolization procedures hurdles the growth of MEA peripheral vascular devices market.
Based on product, the MEA 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 34.8% market share in 2021, amassing US$ 186.13 million. It is projected to garner US$ 287.44 million by 2028 to expand at 6.4% CAGR during 2021–2028.
Based on end user, the MEA 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$ 208.47 million. It is projected to garner US$ 317.05 million by 2028 to expand at 6.2% CAGR during 2021–2028.
Based on country, the MEA peripheral vascular devices market is segmented into Saudi Arabia, UAE, South Africa, and Rest of MEA. Our regional analysis states that the Saudi Arabia captured 40.4% market share in 2021. It was assessed at US$ 215.83 million in 2021 and is likely to hit US$ 330.63 million by 2028, exhibiting a CAGR of 6.3% during the forecast period.
Key players dominating the MEA 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.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email Id: sam@businessmarketinsights.com