The Middle East and Africa Peripheral Vascular Device Market was worth USD 730.09 million in 2022 and is estimated to be growing at a CAGR of 6.18%, to reach USD 985.35 million by 2027. The peripheral vascular device is utilized as a part of the treatment of blood vessels outside the heart and brain.
The increasing rise of the elderly population, the related increase in the prevalence of peripheral vascular disorders, and the approval of new and improved devices are all driving this industry forward in the Middle East and Africa. In addition, the growing number of persons with peripheral arterial diseases is driving the market for peripheral vascular devices and equipment. Peripheral artery illnesses occur when plaque made up of lipids, cholesterol, and other chemicals clog arteries in the human body, reducing blood flow to major organs.
The other major factors driving the growth of this market are the rising prevalence of peripheral vascular diseases associated with obesity, hypertension, reduced scarring, lower risk of post-surgery infections, the growing demand for minimally invasive treatment options, and the rising prevalence of disease-causing lifestyles. Furthermore, the rising eating habits, such as heavy alcohol, tobacco, and cigarette consumption, are predicted to enhance peripheral vascular device market demand by increasing the rates of cardiac arrest, blood clotting, and other vascular illnesses. In addition, there has been a huge increase in the number of patients recuperating from atherosclerosis, obesity, and cancer. As a result, the number of people getting angioplasty, treatments, and catheterization to minimize Arterial Plaque has increased steadily.
The most common risk factor for the peripheral arterial disease is diabetes. Furthermore, the country has a large population of elderly individuals, and persons in this age group are susceptible to PAD (peripheral artery disease). These factors are projected to bolster the market's expansion in the coming years. In addition, as disease prevalence rises, companies in this field are attempting to break into the South African market and make significant revenue, capitalizing on the attractive opportunity. Atherectomy device manufacturers are expected to benefit from the presence of a large target patient population recuperating from peripheral artery disease (PAD), as well as hospitals requiring central vascular access in ICUs, outpatients, CathLabs, and operating rooms.
The availability of alternative treatments and product failures and recalls are projected to restrict the Middle East and Africa market's growth throughout the forecast period. In addition, the FDA is restricting device use, sending field safety alerts, and issuing product recall to repair the devices to prevent incidents related to peripheral devices and ensure that they are safe and have the fewest adverse responses. The peripheral devices and equipment industry may be challenged by these strict licensing processes and regulatory policies.
This research report on the Middle East and Africa peripheral vascular devices market has been segmented & sub-segmented into the following categories:
By Product Type:
Geographically, UAE is estimated to lead the MEA market during the forecast period. UAE is one of the countries with the highest rates of type 2 diabetes in the world. The rising prevalence of diabetes in the country would increase peripheral vascular devices, boosting the market's growth. In addition, high levels of patient awareness and healthcare expenditure are some of the factors that contribute to its substantial proportion.
KEY MARKET PLAYERS:
A few of the notable companies dominating the MEA Peripheral Vascular Devices market incorporate Abbott Laboratories (U.S.), Cordis Corporation (U.S.), Medtronic, Inc. (U.S.), Boston Scientific Corporation (U.S.), and Covidien, Inc. (U.S.).
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