Peripheral Artery Disease (PAD) - Market Insights, Competitive Landscape, and Market Forecast - 2030

Peripheral Artery Disease (PAD) market by Treatment Type (Devices [Angioplasty Balloons, Angioplasty Stents, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Peripheral Guidewires], and Drugs), End-User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the increase in the prevalence and burden of PAD & arteriosclerosis and escalating burden of the geriatric population globally

The peripheral artery disease (PAD) market was valued at USD 3,757.64 million in 2023, growing at a CAGR of 6.64% during the forecast period from 2024 to 2030 to reach USD 5,469.02 million by 2030. The demand for Peripheral Artery Disease (PAD) is primarily being boosted owing to the rising prevalence of peripheral artery disease & arteriosclerosis, the rising prevalence of obesity, diabetes, and high blood pressure, the growing burden of the elderly population, the rising demand for minimally invasive procedures, among others during the forecast period from 2024 to 2030.

Peripheral Artery Disease (PAD) Market Dynamics:

One of the main drivers for the growth of the peripheral artery disease (PAD) market is the rising prevalence of PAD disease leading to arteriosclerosis. As per data by the American Heart Association (2023), around 200 million live with peripheral artery disease globally on average. Also, as per the Global Burden of Disease (2019), there were 56.4 million prevalent cases of PAD among those aged 40 to 70, worldwide in 2019.

As per the Canadian Journal of Cardiology article (2022), the global prevalence of peripheral artery disease (PAD) was 5.6% in 2021, with higher prevalence estimates in high-income countries than in low-income countries.

Based on a recent research study, it had been reported that 75% of acute myocardial infarctions globally occurred from plaque rupture and the highest incidence of plaque rupture was observed in men above 45 years; whereas, in women, the incidence increased beyond age 50 years. PAD prevalence is similar or higher in women compared with men mainly because women form the major section of the elderly population.

Therefore, the factors stated above collectively will drive the overall Peripheral Artery Disease (PAD) market during the forecast period from 2024 to 2030.

However, the high cost of different devices, adverse events related to various treatments and others may limit their end-user base, thus acting as key constraints limiting the growth of the Peripheral Artery Disease (PAD).

Peripheral Artery Disease (PAD) Market Segment Analysis:

Peripheral Artery Disease (PAD) market by Treatment Type (Devices [Angioplasty Balloons, Angioplasty Stents, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Peripheral Guidewires], and Drugs), End-User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the treatment type segment of the Peripheral Artery Disease (PAD) market, the angioplasty balloons in the devices category is estimated to amass a significant revenue share in the Peripheral Artery Disease (PAD) market in 2023. This can be attributed to the various properties, technical advantages, and increasing product development activities such as collaborations and regulatory approvals of angioplasty balloons during the forecast period.

Angioplasty balloon involves the insertion of a balloon attached to a catheter into an artery where the deposition has been diagnosed. The angioplasty balloon catheter is guided carefully and accurately through the artery to the deposition or blockage site and then inflated to widen the opening which pushes the plaque deposition against the wall of the artery. This allows for blood flow restoration in a blocked artery and elevation in the delivery of oxygen-rich blood to the muscles and tissues in the body. The major advantage of an angioplasty balloon is that it allows for the treatment of peripheral artery disease in a minimally invasive manner. Treatment of peripheral artery disease with the utilization of angioplasty balloon catheter ensures that the patient can return to day-to-day activities shortly after the procedure without much complications and restrictions.

The increasing technological advancements such as use of Drug-Coated Balloon (DCB) angioplasty in the treatment of PAD is going to play a crucial role in the peripheral artery disease market. In DCB, balloon coated with anti-proliferative medication and a carrier molecule (or excipient) is delivered to narrowed or blocked artery for treatment of PAD.

For example, Chocolate Touch(R) developed by TriReme Medical LLC is next generation drug-coated angioplasty balloon for the treatment of patients suffering from peripheral artery disease in the superficial femoral artery and the popliteal artery. Chocolate Touch(R) Drug-coated Balloon PTA Catheter received the US FDA approval in November 2022.

Hence, owing to all the aforementioned factors, the market will experience an increased demand for angioplasty balloons thus driving the devices category growth in the peripheral artery disease market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall peripheral artery disease (PAD) market:

Among all the regions, North America is expected to account for the highest proportion of the peripheral artery disease (PAD) Market in 2023, out of all regions. This is owing to the growing government initiatives to raise awareness regarding effective treatment of peripheral artery diseases, rising burden of elderly patients, increasing prevalence of obesity, hypertension, and diabetes, and the presence of an advanced healthcare facilities in the region, thus boosting the peripheral artery disease market in North America.

As per data by the American Heart Association, 2021, PAD affected about 8.5 million U.S. adults over the age of 40, in 2021. As per the same source, African Americans are more likely to screen positive for PAD than non-Hispanic adults.

Also, according to data provided by Statistic Canada, PAD is widely prevalent in the country, affecting approximately 800,000 Canadians, every year.

The increasing prevalence of people with obesity and overweight will increase the market for peripheral artery disease as obese patients are 3-5 times more likely to develop the most severe complication of PAD. The Centers for Disease Control and Prevention (CDC) stated that in 2019, all US states and territories had an obesity rate of at least 20%, in 2019. Also as per the Government of Canada, about 1 in 4 Canadian adults are living with obesity on an average annually. Obesity rates among Canadian adults are higher in men as compared to women. The obese patients are 3-5 times more likely to develop the most severe complication of PAD called critical limb ischemia.

Furthermore in June 2022, Cardio Flow, Inc., received the U.S. Food and Drug Administration (FDA) clearance for the company's FreedomFlow(R) Peripheral Guidewire.

Additionally, in May 2022, Medtronic announced approval from the U.S. Food and Drug Administration (FDA) for the IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, a drug-coated balloon (DCB), indicated for the interventional treatment of peripheral arterial disease (PAD) in the superficial femoral and popliteal arteries.

Therefore, the interplay of all the aforementioned factors above would provide a conducive growth environment for the North America region in the Peripheral Artery Disease (PAD) market.

Peripheral Artery Disease (PAD) Market key players:

Some of the key market players operating in the peripheral artery disease (PAD) market include Medtronic, Koninklijke Philips N.V., B. Braun SE, Boston Scientific Corporation, BD, Terumo Corporation, Biotronik, Cordis, Abbott, AngioDynamics, Cardiovascular Systems, Inc., Bluesail Medical Co., Ltd., Contego Medical, Inc., Argon Medical, REX Medical, Merck & Co., Inc., Sanofi, Johnson and Johnson Services, Inc., Otivio, Reflow Medical Inc., and others.

Recent Developmental Activities in the Peripheral Artery Disease (PAD) Market:

• In March 2024, BD (Becton, Dickinson and Company), a leading global medical technology company, announced enrollment of the first patient in the investigational device exemption (IDE) study, "AGILITY," which assessed the safety and effectiveness of the BD Vascular Covered Stent for the treatment of Peripheral Arterial Disease (PAD).
• In October 2023, Cardio Flow, Inc., a privately held medical device company and developer of minimally invasive devices to treat peripheral artery disease (PAD), announced that it received U.S. Food and Drug Administration (FDA) 510(k) clearance for its FreedomFlow Orbital Atherectomy Peripheral Platform.
• In June 2023, Endologix announced that it received FDA approval for its Detour system to treat long, complex superficial femoropopliteal lesions. It treats complex peripheral artery disease by allowing physicians to bypass lesions in the superficial femoral artery by using stents routed through the femoral vein to restore blood flow to the leg.

Key Takeaways from the Peripheral Artery Disease (PAD) Market Report Study

• Market size analysis for current Peripheral Artery Disease (PAD) market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the Peripheral Artery Disease (PAD) market
• Various opportunities available for the other competitors in the Peripheral Artery Disease (PAD) market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Peripheral Artery Disease (PAD) market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Peripheral Artery Disease (PAD) market growth in the coming future?

Target audience who can be benefited from this Peripheral Artery Disease (PAD) Market Report Study

• Peripheral Artery Disease (PAD) product providers
• Research organizations and consulting companies
• Peripheral Artery Disease (PAD)-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in Peripheral Artery Disease (PAD)
• Various end-users who want to know more about the Peripheral Artery Disease (PAD) market and the latest developments in the Peripheral Artery Disease (PAD) market

Frequently Asked Questions for the Peripheral Artery Disease (PAD) Market:

1. What are Peripheral Artery Disease (PAD)?

• The peripheral artery disease (PAD) is a common cardiovascular condition that is caused by plaque build-up in the arteries, resulting in restricted blood flow to the limbs. Peripheral artery disease is also linked to diabetes, aging, and high blood pressure.

2. What is the market for Peripheral Artery Disease (PAD)?

• The peripheral artery disease (PAD) market was valued at USD 3,757.64 million in 2023, growing at a CAGR of 6.64% during the forecast period from 2024 to 2030 to reach USD 5,469.02 million by 2030.

3. What are the drivers for the Peripheral Artery Disease (PAD) market?

• The Peripheral Artery Disease (PAD) market is slated to witness prosperity owing to the rising prevalence of peripheral artery disease and arteriosclerosis, the rising prevalence of obesity, diabetes, and high blood pressure, the growing burden of the elderly population, the rising demand for minimally invasive procedures, among others during the forecast period from 2024 to 2030.

4. Who are the key players operating in the Peripheral Artery Disease (PAD) market?

• Some of the key market players operating in the peripheral artery disease (PAD) market include Medtronic, Koninklijke Philips N.V., B. Braun SE, Boston Scientific Corporation, BD, Terumo Corporation, Biotronik, Cordis, Abbott, AngioDynamics, Cardiovascular Systems, Inc., Bluesail Medical Co., Ltd., Contego Medical, Inc., Argon Medical, REX Medical, Merck & Co., Inc., Sanofi, Johnson and Johnson Services, Inc., Otivio, Reflow Medical Inc., and others.

5. Which region has the highest share in the Peripheral Artery Disease (PAD) market?

• North America is expected to dominate the overall peripheral artery disease (PAD) market during the forecast period from 2024 to 2030. This is owing to the growing government initiatives to raise awareness regarding effective treatment of peripheral artery diseases, rising burden of elderly patients, increasing prevalence of obesity, hypertension, and diabetes, and the presence of an advanced healthcare facilities in the region, thus boosting the peripheral artery disease market in North America.