The peripheral angioplasty market size is projected to be valued US$ 3.4 billion in 2023. By 2033, the market is anticipated to have grown to over US$ 7.2 billion, with a compound annual growth rate of 7.7%. Percutaneous transluminal angioplasty (PTA), commonly referred to as peripheral angioplasty or peripheral arterial angioplasty, is a minimally invasive procedure used to treat peripheral artery disease (PAD). In the peripheral vascular system, it is a medical technique that is used to unclog or restrict blocked arteries, especially in the lower extremities (legs, feet, and ankles).
According to a recent market study by Future Market Insights, Global Peripheral Angioplasty Market was valued US$ 3.4 Billion in 2023, and it is anticipated to grow at a compound annual growth rate (CAGR) of 7.7%, reaching US$ 7.2 Billion by 2033.
Throughout the forecast period Peripheral artery disease affects a significant portion of the global population, especially elderly individuals and those with risk factors such as smoking, diabetes, and hypertension. The increasing prevalence of PAD is driving the demand for peripheral angioplasty procedures. The development of innovative devices and techniques has significantly improved the outcomes of peripheral angioplasty procedures. Advancements include the introduction of drug-coated balloons and drug-eluting stents, which help prevent restenosis (re-narrowing of the artery) and enhance long-term results.
The peripheral angioplasty market is also competitive, with several established and emerging players offering a range of devices and technologies. Intense competition may influence sales figures as companies strive to gain market share through product differentiation, pricing strategies, and marketing efforts.
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Key Takeaways:
- The peripheral angioplasty industry in the United States is predicted to reach US$ 2.3 billion by 2033, increasing at a 6.8% CAGR.
- The peripheral angioplasty industry in the United Kingdom is estimated to reach a market share of US$ 229.3 million, expanding at a CAGR of 4.2% by 2033.
- During the forecast period, the peripheral angioplasty industry in China is expected to reach a market share of US$ 732.1 million, securing an 13.0% CAGR.
- The peripheral angioplasty industry in Japan is predicted to reach US$ 448.8 million by 2033, increasing at a 9.0% CAGR.
- South Korea’s peripheral angioplasty industry is predicted to achieve a market share of US$ 143.7 million, rising at an 8.7% CAGR during the forecast period.
- With a CAGR of 5.2% from 2023 to 2033, the balloon catheters segment is expected to dominate the peripheral angioplasty industry.
- With a CAGR of 6.3% from 2023 to 2033, the hospital is expected to dominate the peripheral angioplasty industry.
Peripheral Angioplasty Manufacturers and Their Effective Marketing Strategies
The peripheral angioplasty sector is a very competitive one, with many firms fighting for market share. Several significant participants in this industry comprise
- Boston Scientific Corporation
- Medtronic
- Abbott Laboratories
- Terumo Corporation
- Johnson & Johnson
- Cook Medical
- B. Braun Melsungen AG
- Edwards Lifesciences Corporation
- Becton, Dickinson, and Company
- MicroPort Scientific Corporation
- Teleflex Incorporated
- W. L. Gore & Associates
- Biotronik SE & Co. KG
- AngioDynamics, Inc.
The main corporations are investing extensively in research and development efforts to develop inventive and creative products with improved reliability, efficacy, and cost.
Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence.
Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.
To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.
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Segmentation Analysis of the Peripheral Angioplasty Market:
By Product:
- Balloon Catheters
- Stents
- Guidewires
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa