Growth in this market is largely driven by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, approval of new and advanced products, and the growing preference for minimally invasive surgeries.

The peripheral vascular devices market is projected to reach USD 14.4 billion by 2024 from USD 10.3 billion in 2019, at a CAGR of 6.8%.

Market Dynamics 

+ Drivers

+ Rapid Growth in the Geriatric Population and the Subsequent Increase in the Prevalence of Peripheral Vascular Diseases
+ Product Approvals
+ Increasing Prevalence of Diabetes

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Prominent players in the peripheral vascular devices market are Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain), Becton, Dickinson and Company (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany).

Medtronic is the leading player of the peripheral vascular devices market, accounting for the largest market share in 2017. The company mainly focuses on organic strategies in order to strengthen its position in the peripheral vascular devices market. It has been investing 7–8% of its total revenue on R&D for launching innovative products in the market.

Boston Scientific is the second-largest player of the peripheral vascular devices market. The company mainly focuses on organic and inorganic strategies in order to strengthen its business operations. For instance, in 2018, the company received FDA approval for Eluvia, a drug-eluting Vascular Stent system for the treatment of PAD. Similarly, in 2015, the company entered into an agreement with C.R. Bard (US) to distribute the Lutonix 035 Drug-coated Balloon Percutaneous Transluminal Angioplasty Catheter (Lutonix DCB) in the US.