According to a new research report by Global Market Insights, Inc. Technological advancements and increasing cases of cancer and vascular diseases are expected to impel peripheral interventions market growth by 2026. Peripheral vascular intervention is a minimally invasive outpatient procedure used for treating peripheral artery disease in which plaque builds up inside the arteries of arms, legs, head and intestines. It is known as atherosclerosis. Peripheral vascular intervention process reinstates blood flow to the lower extremities, hence eliminating pain, numbness or need for amputation.
Increasing practice of unhealthy diet which include food high in sugar and fat content, along with lack of physical exercise are contributing to a rise in the number of people suffering from chronic illnesses such as cancer and diabetes. The need to treat such disease will accelerate the requirement for peripheral intervention procedures.
Prevalence of complex health conditions like diabetes & hypertension, smoking & drinking habits, morbid obesity and increase in consumption of carbohydrate-rich food are known to be some of the major causes of cardiovascular diseases. With increasing cases of CVD, the demand for peripheral interventions procedures may increase significantly across the globe.
A research conducted by Global Market Insights, Inc., projects that the peripheral interventions market exceed US$11.5 billion between 2020-2026.
A notable share of this growth can be credited to rising awareness regarding peripheral intervention and robust adoption of technologically advanced products and medical devices like pro-slit covered tip, polytetrafluroethylene, and catheter technologies. Growing patient demand for minimally invasive procedures to treat CVDs may favor the industry of peripheral interventions.
The significance of guidewire has increased considerably in clinical procedures. The product is fashioned with the help of technical breakthroughs in accessibility, flexibility and affordability. It also renowned to entails minimal deformity.
Possible advancements in guidewires using latest innovations and its ease of use may augment product penetration. Estimates thereby suggest that the guidewires market might grow at a 8.6% CAGR over 2026, essentially driven by rapid technological advancements.
Peripheral artery disease (PAD) is considered to be one of the leading causes of death, affecting nearly over 200 million people worldwide. The disease is seen to be prevailing mostly among the geriatric population.
Growing number of PAD cases may create a robust demand for peripheral intervention devices. Similarly, with increasing cases of vascular diseases, studies suggest that the vascular diseases market may grow at 8.8% CAGR over the projected timeframe.
According to reports, in 2019, Europe held for about 27% share of the global peripheral interventions market. This growth could be credited to large number of cases and deaths registered in the region, primarily caused due to CVD.
Backing this claim, a European Heart Network (EHN) report cites that about 3.9 million people die due to CVD each year. In the year 2015, the European Union registered nearly 6.1 million new CVD cases, while around 11.3 million cases of cardiovascular diseases were recorded in entire Europe. Bolstering demand for sophisticated healthcare infrastructure and rising expenditure on CVD treatments may aid the adoption of interventional devices in Europe. – MB Bureau