The Europe 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 6.3% from 2021 to 2028
The Europe 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 6.3% from 2021 to 2028. The alarming rise in peripheral artery diseases has been a primary concern across the region. Atherosclerosis, smoking, alcoholism, and obesity are the major factors that increase the risk of developing these diseases. Further, atherosclerosis is a condition in which fatty deposits build up on the inside walls of the arteries, reducing blood flow. Healthy people over the age of 40 have a 50% chance of getting severe atherosclerosis, with the risk increasing as they get older. The disease mostly affects people over the age of 60, yet it goes unnoticed frequently. The increasing prevalence of atherosclerosis is boosting the peripheral vascular devices market substantially.
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As per the WHO, in 2021, ~1.13 billion people were suffering from hypertension, a leading cause of premature death. Obesity is associated with high blood pressure, dyslipidemia, diabetes or insulin resistance, and higher fibrinogen and C-reactive protein levels, which increase the risk of cardiovascular diseases. Obesity has been associated with a greater risk of high blood pressure. A few significant players are developing and introducing novel products and technologies to compete with existing products in the market, while others are acquiring and partnering with other companies. Thus, the increasing prevalence of hypertension, smoking, alcoholism, and obesity requiring mobility assistance is contributing to the growth of the 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 Europe peripheral vascular devices market at a notable CAGR during the forecast period.
Europe Peripheral Vascular Devices Market Segmentation
The Europe peripheral vascular devices market is segmented into product, end user, and country. Based on product, the Europe 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 Europe 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 Europe peripheral vascular devices market is segmented into France, Germany, France, the UK, Italy, Spain, and the Rest of Europe. Further, Germany dominated the market in 2021. Abbott, B. Braun Melsungen AG, BD, Boston Scientific Co Europe Peripheral Vascular Devices Market rporation, Cardinal Health Inc, Cook Medical LLC, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, and Terumo Corporation are among the leading companies operating in the Europe peripheral vascular devices market.
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Abbott
B. Braun Melsungen AG
BD
Boston Scientific Corporation
Cardinal Health Inc
Cook Medical LLC
Edwards Lifesciences Corporation
Medtronic
Teleflex Incorporated
Terumo Corporation
Segments Covered
By Product
โข Peripheral Vascular Stents
โข Peripheral Transluminal Angioplasty Balloon Catheters
โข PTA Guidewires
โข Atherectomy Devices
โข Chronic Total Occlusion Devices
โข Aortic Stents
โข Synthetic Surgical Grafts
โข Embolization Guidewires
By End User
โข Hospitals & Clinics
โข Ambulatory Care Centers
โข Specialty Clinics
Regional Market Overview
The European peripheral vascular devices market is dominated by Western European countries, including Germany, France, the United Kingdom, Italy, and Spain. These nations have well-established healthcare systems, high rates of adoption of advanced medical technologies, and large patient populations suffering from cardiovascular diseases. Western Europeโs strong healthcare infrastructure and access to cutting-edge medical devices make it the largest and most lucrative market for peripheral vascular devices.
In contrast, Eastern Europe is seeing significant growth in demand for peripheral vascular devices due to improving healthcare infrastructure and rising healthcare expenditure. While these countries may have lower market penetration compared to their Western counterparts, they represent a growing opportunity for manufacturers of peripheral vascular devices. Countries such as Poland, Russia, and Romania are investing in modern healthcare facilities, which is expected to drive further demand for these devices.
Competitive Landscape
Several major global players dominate the European peripheral vascular devices market, including Medtronic, Boston Scientific, Abbott Laboratories, Cook Medical, Terumo Corporation, Cardinal Health, Johnson & Johnson, and B. Braun Melsungen. These companies are focusing on developing innovative devices and expanding their product portfolios to maintain a competitive edge. Collaborations, mergers, and acquisitions are also common strategies to enhance market presence and distribution networks.
Additionally, many of these companies are investing in research and development to create more effective and cost-efficient devices. Innovations in drug-eluting stents, bioabsorbable stents, and minimally invasive vascular interventions are expected to drive the growth of these companies in the European market.
Challenges
Despite the growth potential, the European peripheral vascular devices market faces several challenges. Regulatory hurdles can delay the approval and market launch of new devices, particularly with stringent regulatory standards set by the European Medicines Agency (EMA) and other governing bodies. Additionally, the high cost of advanced devices may pose a barrier for healthcare providers, particularly in lower-income regions, limiting the widespread adoption of cutting-edge technologies. Furthermore, the complexity of some peripheral vascular procedures requires skilled healthcare professionals, which may not always be available in all regions.
Future Outlook
The future of the European peripheral vascular devices market appears promising, with expected steady growth driven by factors such as the increasing prevalence of PVD, technological advancements, and an aging population. The trend towards minimally invasive procedures and outpatient care will likely continue to support the demand for peripheral vascular devices. Moreover, the increasing adoption of digital health technologies in vascular interventions could enhance the precision of procedures and improve patient outcomes, further fueling market expansion.
In conclusion, the European peripheral vascular devices market is set to experience robust growth over the next few years, supported by advancements in medical technology, an aging population, and rising healthcare expenditure. As healthcare providers continue to embrace new technologies and patients demand more effective treatments, the market for peripheral vascular devices is expected to evolve, offering new opportunities for growth and innovation.
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