The peripheral artery disease market is expected to reach $5,715.12 million by 2027, registering a CAGR of 8.5% from 2020 to 2027.

PORTLAND, OREGON, US, December 21, 2021 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Peripheral Artery Disease Market by Product Type, and Region: Opportunity Analysis and Industry Forecast, 2020–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The peripheral artery disease market size accounted for $3,524.77 million in 2019, and is expected to reach $5,715.12 million by 2027, registering a CAGR of 8.5% from 2020 to 2027. Peripheral artery disease is characterized by the build of plaque in arteries carrying blood form heart to legs, arms, and other limbs. Peripheral artery disease also increases the risk of other peripheral disorders such as heart attack, coronary heart disease, stroke, and ischemic attack.

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Moreover, favorable reimbursement scenario for peripheral artery disease treatment and advanced peripheral treatment products such drug-eluting stents, in, turn, boosts the market growth. The introduction of new interventional treatment options such as atherectomy drives the market growth. Atherectomy is beneficial for removing the build-up of plaque in arteries with the help of stent or catheter. Thus, with the increase in prevalence of calcified and hard lesions the market for atherectomy is expected to grow. However, restenosis (reoccurrence of peripheral artery disease post treatment) is expected to impede the peripheral artery disease market growth.

As per the industry experts, long term effect of COVID-19 outbreak is expected to be witnessed over the coming years. The outbreak has led to a situation of financial crisis in many countries. Thus, the number of vascular surgeries has been significantly reduced according to the guidance provided by the American College of Surgeons, including surgeries related to peripheral arterial disease (PAD). This measure is expected to keep hospital beds and healthcare providers available for COVID-19 patients, as well as to save personal protective equipment (PPE) and reduce viral transfer among patients and between patients and staff.

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North America accounted for major share of the global peripheral artery disease market in 2019, and is expected to remain dominant throughout the forecast period. Asia-Pacific is projected to register the highest CAGR of 9.4% during the forecast period, owing to increase incidence of population suffering from diabetes, obesity, and high blood pressure. In addition, increase in healthcare expenditure and introduction of interventional products such as drug-coated balloon offer a lucrative opportunity for the peripheral artery disease market growth.

Key Benefits For Stakeholders:

• The study provides an in-depth analysis of the peripheral artery disease market along with current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2019 to 2027, which is expected to enable stakeholders to capitalize on prevailing peripheral artery disease market opportunities.
• The key market players and their strategies have been analyzed to understand the competitive outlook of the peripheral artery disease market.

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