Inkwood Research estimates that the Global Peripheral Artery Disease Market is evaluated to project a CAGR of 10.35% in terms of revenue during the forecasting years of 2021-2028.
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Peripheral artery disease (PAD) is characterized as a disorder
of blood vessels situated on the exterior of the brain and heart. The condition
occurs when plaque builds up in arteries carrying blood to the head, organs, as
well as limbs. Plaque constitutes cholesterol, fat, fibrous tissue, calcium,
and other substances.
Growing
Geriatric Population to Facilitate Market Growth
A rapid surge in the geriatric population is one of the
fundamental drivers associated with the peripheral artery disease market
growth. As per the Department of Economic and Social Affairs, 962.3 million
people were aged 60 years and above in 2017. Moreover, this number is
anticipated to reach 2080.5 million by the year 2050. As a result, the
increasing geriatric populace fuels the demand for hypertensive drugs since the
elderly are more vulnerable to high blood pressure. In addition, aspects such
as diabetes, smoking, and hypercholesterolemia, among others, are the major
risk factors linked to the rising prevalence of peripheral artery disease
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Plaque
Modification Devices is the Fastest-Growing Devices
Plaque modification devices help clear out blockages in
arteries, thus enabling them to regain normal function. As a result, this leads
to improved heart function and blood circulation. Plaque entails the deposition
of fat on the walls of arteries that narrow them and decrease blood flow. Plaque
modification is performed by directional coronary atherectomy as well as
alteration with a scoring device. The procedure is typically employed before a
stent implant since it prevents restenosis and minimizes arterial injury.
North
America Dominated the Global Market in 2020
North America is set to hold the highest market share over
the forecast years owing to factors such as the surging senior population and
the increasing number of patients suffering from diabetes and blood pressure,
with additional complications. Furthermore, continually changing lifestyle
habits, like smoking, excessive alcohol consumption, unhealthy dietary habits,
lack of physical activity, and obesity make the population highly susceptible
to peripheral artery disease.
On the other hand, as per the American Heart Association,
peripheral artery disease (PAD) affects more than 8.5 million Americans
annually. Therefore, the rising adoption of advanced peripheral artery disease
devices, including peripheral angioplasty balloons, inferior vena cava (IVC)
filters, peripheral catheters, plaque modification devices, and peripheral
accessories, is anticipated to play an essential role in propelling the market
growth in North America.
The global market observes high competition among key
players such as Angioscore Inc, Abbott Laboratories, Edward Lifesciences
Corporation, and others. They also undergo mergers and acquisitions in order to
extend the existing product portfolio. Some of the leading companies operating
in the market are Bayer AG, Boston Scientific Corporation, Cardinal Health Inc,
etc.
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technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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