The size of the European peripheral vascular devices market was worth USD 2163.18 million in 2022 and is estimated to be growing at a CAGR of 7.53%, to reach USD 3109.86 million by 2027.
The market for peripheral vascular devices in Europe is likely to be driven by the rising prevalence of venous disease, often known as CVI (chronic venous insufficiency). The other primary driving factor for the European peripheral vascular devices market is the rising prevalence of diabetes management among individuals. In addition, peripheral artery disease is rising across the continent, fuelling market demand to some extent.
The expanding senior population base, which generates target disease incidence rates, and increased demand for minimally invasive endovascular procedures, which have a faster recovery time, less scarring, and a lower risk of postoperative infections, are the leading market drivers. In addition, the rising prevalence of pathogenic lifestyles and eating habits, such as heavy alcohol, cigarette, and smoking intake, is predicted to boost market demand for peripheral vascular devices by increasing the incidence of heart disease, blood clotting, and other vascular tissue disorders.
The market possibilities for vendors include the growing use of bioabsorbable stents, increasing expendables, and expanding health awareness. The market's growth prospects are based on an increasing understanding of angioplasty treatments. The government's increased investments in hospitals are primarily driving the market's expansion in this region. The development of the European peripheral vascular devices market is aided by rising healthcare spending, particularly in metropolitan regions.
However, two significant roadblocks are the high costs of technology, particularly in developing countries, and product failures, which have been blamed on a slew of small businesses. Installation and maintenance expenses are relatively high, choking demand in the worldwide peripheral vascular devices market. An obstacle for market developers is the absence of trained staff to run and routinely monitor the systems. Pneumothorax, arterial puncture, haemothorax, stroke, arrhythmias, and nerve injury can result from installing a central venous line. As a result, a licensed physician must conduct the procedure in a hospital's intensive care unit or operating room.
This research report on the European peripheral vascular devices market has been segmented & sub-segmented into the following categories:
By Product Type:
Due to factors such as the growing geriatric population, the rising incidence of cardiovascular disease, and the strong presence of industrialized countries, the European market accounts for a significant portion of the global peripheral vascular devices market in 2020, and it is expected to continue to grow at a similar rate in the future.
In both industrialized and developing European countries, increased capital income increases market demand. Furthermore, as more people become aware of the different therapeutic options available for many diseases, the market for peripheral vascular devices will expand. Furthermore, a more comprehensive range of peripheral vascular devices has become available due to a growing need for minimally invasive procedures, particularly for peripheral arterial disease, lifestyle changes, an aging population, and technological advancements.
Peripheral Vascular Devices are expected to dominate the United Kingdom over the forecast period. The increase in peripheral vascular devices in this region is primarily driven by a changing lifestyle, an aging population, and technical advancements.
Peripheral Vascular Devices are likely to be dominated by Germany after the United Kingdom. This is expected to continue in the near future due to factors such as the growing geriatric population, the rise in cardiovascular illnesses, and the strong presence of industry participants.
KEY MARKET PLAYERS:
Companies playing a promising role in the European Peripheral Vascular Devices market profiled in this report are 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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