The APAC peripheral vascular devices market is expected to grow from US$ 3,288.55 million in 2021 to US$ 5,035.19 million by 2028; it is estimated to register a CAGR of 7.1% from 2021 to 2028.
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.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC peripheral vascular devices market at a notable CAGR during the forecast period.
APAC Peripheral Vascular Devices Market Revenue and Forecast to 2028 (US$ Million)
APAC Peripheral Vascular Devices Market Segmentation
The APAC peripheral vascular devices market is segmented into product, end user, and country. 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. Further, the peripheral vascular stents segment dominated the market in 2021. Based on end user, the APAC peripheral vascular devices market is segmented into hospitals & clinics, ambulatory care centers, specialty clinics, and others. Further, the hospitals & clinics segment dominated the market in 2021. Based on country, the APAC peripheral vascular devices market is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. Further, China dominated the market in 2021.
Abbott, B. Braun Melsungen AG, BD, Boston Scientific Corporation, Cardinal Health Inc, Cook Medical LLC, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, and Terumo Corporation are among the leading companies operating in the APAC peripheral vascular devices market.