Market World Peripheral Vascular Device Market Size | Page 2

negatively impact the market owing to factors such as reimbursement issues in developing countries, stringent
regulatory policies, and presence of highly fragmented market.
Product Insights
Based on the products, the market is segmented as peripheral vascular stents, peripheral transluminal
angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic
stents, synthetic surgical grafts, embolic protection devices, and inferior vena cava filters. Peripheral vascular
stents accounted for the major share of over 31% in 2014 pertaining to the factors such as rising incidences of
peripheral artery disease and development of new imaging techniques.
Introduction of technologically advanced stents such as drug eluting stents further boost up demand for such
devices. In addition, increase in need for therapies that reduce the risk of complications such as thrombosis is
one of the factor contributing towards its growth. However, stringent product approval process, number of
product failures, and presence of alternative treatment options for cardiac disease may restrain the growth of
stents in the market. Peripheral angioplasty balloon catheters held significant market share owing to
introduction of technological advance products like drug coated balloons and favorable reimbursement policies
in developed countries like Germany and the U.S.
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Regional Insight
North America dominated the market with the maximum share of 39% in 2014 owing to rising healthcare
expenditure, high R&D activities, favorable reimbursement policies, increasing awareness, and growing stent
surgeries in the region. Asia pacific region is expected to be the fastest growing segment with a CAGR of 10%
over the forecast period. The growth in the region is driven by the factors such rising incidence of cardiovascular
disease, improving healthcare infrastructure, large population base unmet medical needs, and rising disposable
income level in emerging countries like India and China. In addition, cost of surgery is less in this region as
compared to developed nations that is expected to boost medical tourisms, which in turn anticipated to surge
demand for such devices.
Competitive Insights
Few of the key participants of peripheral vascular devices market include, Edward Lifesciences Corporation;
Abbott Laboratories; Angiocare, Inc.; Boston Scientific Corporation; Medtronic, Inc.; Teleflex Medical; St.Jude