Report : South America 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 4.6% CAGR, the SAM Peripheral Vascular Devices Market is speculated to be worth US$ 1,228.74 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM peripheral vascular devices market was valued at US$ 894.09 million in 2021 and is expected to reach US$ 1,228.74 million by 2028, registering an annual growth rate of 4.6% from 2021 to 2028. Rising incidences of atherosclerosis, smoking, alcoholism, and obesity and increasing prevalence of peripheral artery disease and arterial embolism are the critical factors attributed to the market expansion.
Of late, the alarming rise in peripheral artery diseases has been a primary concern across the region. Atherosclerosis, smoking, alcoholism, and obesity are the key factors that increase the risk of developing these diseases. Atherosclerosis is a condition in which fatty deposits build up on the inside walls of the arteries, reducing blood flow. People over the age of 40 and in general good health have a 50% chance of getting severe atherosclerosis, with the risk increasing as they get older. The disease affects most people over the age of 60, yet it goes unnoticed most of the time. The increasing prevalence of atherosclerosis is boosting the peripheral vascular devices market substantially. As per the WHO, in 2021, around 1.13 billion people were suffering from hypertension, a leading cause of premature deaths. Obesity is associated with high blood pressure, dyslipidemia, diabetes, or insulin resistance, and higher fibrinogen and C-reactive protein levels, all of which increase the risk of cardiovascular diseases (CVDs). Obesity has been associated with a greater risk of high blood pressure. To compete with existing products in the market, a few significant players are developing and introducing novel products and technologies, while others are acquiring and partnering with other companies. Thus, the increasing prevalence of hypertension, smoking, alcoholism, and obesity requiring mobility assistance is favoring the growth of this market across the region.
On the contrary, high costs and complications associated with embolization procedures hurdles the growth of SAM peripheral vascular devices market.
Based on product, the SAM 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 33.5% market share in 2021, amassing US$ 299.33 million. It is projected to garner US$ 426.14 million by 2028 to expand at 5.2% CAGR during 2021–2028.
Based on end user, the SAM peripheral vascular devices market is segmented into hospitals & clinics, ambulatory care centers, specialty clinics, and others. The hospitals & clinics segment held 37.8% market share in 2021, amassing US$ 338.18 million. It is projected to garner US$ 476.39 million by 2028 to expand at 5.0% CAGR during 2021–2028.
Based on country, the SAM peripheral vascular devices market is segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that the Brazil captured 49.4% market share in 2021. It was assessed at US$ 441.90 million in 2021 and is likely to hit US$ 626.41 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Key players dominating the SAM 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 Oct 2021, BD received 510(k) clearance for expanded indications from US FDA for the Rotarex Atherectomy System. The FDA clearance of the Rotarex Atherectomy System's new inflated indications follows more than 10 years of real-world clinical experience involving the treatment of thousands of patients worldwide.
- 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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