The size of the APAC peripheral vascular devices market is forecasted to worth USD 1403.92 million by 2027 and USD 932.38 million in 2022, growing at a CAGR of 8.53% during the forecast period.
The increasing expansion of the geriatric population and the related increase in the prevalence of peripheral vascular disorders, the approval of new and advanced devices, and the rising incidence of diabetes drive the APAC peripheral vascular devices market forward. The other major factors driving the market's growth in this region are the rising prevalence of peripheral vascular diseases associated with obesity, diabetes, and hypertension, the growing demand for minimally invasive treatment options, technological advancements, and the rising prevalence of disease-causing lifestyles. IVC filters, angiography catheters, EVAR stent grafts, hemodynamic flow alteration, and plague modification devices are among the peripheral vascular devices used to treat peripheral arterial or coronary arterial disease, as well as in peripheral endovascular and coronary procedures.
Because of less strict regulatory rules and minimal competition, emerging markets like China, India, and Singapore are projected to develop rapidly in the future years. Manufacturers are deliberately focused on growing their presence in these nations to take advantage of the high-growth opportunities in these markets. The expansion of this region is being driven by factors such as the rising frequency of aortic aneurysms and pulmonary embolisms; and the existence of major players. In addition, the Asia Pacific peripheral vascular devices market is projected to be driven by the growing incidence of venous disorders, often known as CVI (Chronic Venous Insufficiency), rising demand for less invasive endovascular treatments, which have a faster recovery time, less scarring, and a lower risk of infection after surgery. In addition, increasing the incidence rates of cardiac arrest, blood clotting, other vascular illnesses, disease-causing lifestyle, and eating habits such as heavy alcohol intake, tobacco products, and smoking cigarettes are projected to raise peripheral vascular device market demand.
The availability of alternative treatments and product failures and recalls are likely to restrict the market's growth over the forecast period. As a result, the Asia Pacific peripheral vascular devices market is likely to be restricted by infection from peripheral vascular implantations. In medicine, the insertion of a foreign body has become a necessary procedure; nevertheless, medical devices are connected with the danger of bacterial and fungal infection. In addition, the peripheral vascular devices and equipment market is constrained by strict regulatory processes and failures.
This research report on the Asia Pacific Peripheral Vascular Devices Market has been segmented & sub-segmented into the following categories:
By Product Type:
Based on geography, rising economies, for example, India, China, Singapore, Malaysia, and Korea, hold a promising opportunity for investors of peripheral medication devices because of rising restorative tourism and human services awareness in these locales. Also, these locales are populated and have high disease commonness, which adds to the development of the Asia pacific peripheral medication devices market. Because of the rising frequency of peripheral vascular disorders, the Asia Pacific area is expected to grow throughout the forecast period. Manufacturers of peripheral vascular devices are gradually embracing comprehensive development techniques to generate novel products. Many clinical studies are now underway to improve the efficacy and safety of medical devices. In the next few years, China's peripheral vascular devices market will increase due to this rising need. Peripheral arterial disease (PAD) is a condition in which arteries other than those in the brain and heart narrow. Rapidly developing healthcare infrastructure and rising patient disposable income levels in emerging economies like India and China will benefit the entire industry in the future.
KEY MARKET PLAYERS:
A few of the notable players leading the APAC Peripheral Vascular Devices market include 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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