Peripheral artery disease Market Size

Peripheral artery disease Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The global peripheral artery disease market is expected to reach USD 4.91 billion by 2032, from a current market of USD 2.899 billion in 2024. The CAGR for this market is 6.8% during the forecast period. The increase in the prevalence of peripheral artery disease is mainly due to the aging of the population, the increase in diabetes and the emergence of cardiovascular diseases. The development of diagnostic and therapeutic methods, such as minimally invasive procedures and new drug delivery systems, has further increased the treatment options and improved the patient's condition. The key players in the peripheral artery disease market, including Medtronic, Boston Scientific and Abbott Laboratories, are actively involved in strategic initiatives to capture this growth. For example, these companies are investing in research and development to introduce new therapies and devices, and establishing strategic alliances to expand their market reach and operational capabilities. The focus on improving patient care through technology-driven solutions will also play a major role in shaping the future of the peripheral artery disease market, which is expected to be in line with the growth.

Regional Market Size

Regional Deep Dive

The market for peripheral artery disease (PAD) is characterized by significant regional differences, which are influenced by the level of health care, the prevalence of PAD and the regulatory framework. North America is characterized by a high prevalence of risk factors such as diabetes and obesity and the availability of an advanced health care system, which makes early diagnosis and treatment possible. Europe is characterized by a heterogeneous landscape with different health care systems and an increasing focus on innovation in treatment. The Middle East and Africa are characterized by low awareness and the lack of access to health care. The Asia-Pacific region is characterized by high growth due to the rising awareness and increasing health care expenditures. Latin America is gradually developing and improving access to health care and treatment for PAD patients.

North America

• The U.S. Food and Drug Administration recently approved several new devices for the treatment of PAD, including stents and drug-coated balloons, which are expected to improve patient outcomes significantly.
• Among the major manufacturers are Medtronic and Boston Scientific, which are investing heavily in research and development to develop new treatments and devices. These products are designed to reduce the recovery time and to facilitate a less traumatic surgery.
• The American Heart Association has taken steps to increase the awareness of this disease and to screen for it. The objective of these steps is to increase the early diagnosis and treatment of the disease.

Europe

• The European Medicines Agency has recently introduced a unified regulatory pathway for new therapies for peripheral arterial disease, enabling the market to be accessed more quickly.
• In countries like Germany and the United Kingdom, the government has introduced national health programs to increase the screening and management of PAD.
• Telemedicine is now being used in many European countries to monitor and treat patients with PAD, and it is hoped that this will lead to improved treatment adherence.

Asia-Pacific

• In countries like India and China, the awareness and screening for PAD has risen significantly.
• Governmental initiatives in Australia, such as the National Vascular Disease Prevention Alliance, are working to improve the prevention and management of PAD. This is expected to improve the outcomes of patients.
• The local pharmaceutical industry has begun to work with international companies to develop cost-effective drugs that are suitable for Asian patients, which will expand the market for these products.

MEA

• Despite the problems of access to care in many countries of the Middle East and North Africa, the World Health Organization (WHO) has stepped in to raise awareness of the disease and to improve treatment.
• During the next five years, the number of cases of peripheral arterial disease is expected to grow at a rate of 1% per year. The increase in the size of the patient population in the Asia-Pacific region is expected to increase the number of hospitals in the region, thereby increasing the number of physicians in the region.
• Culture, diet, and sedentary life have become the main causes of atherosclerosis, and local governments have begun to conduct health education and public health campaigns to change the sedentary life of the people.

Latin America

• A recent report has shown that in Brazil and Mexico, the cases of PAD are increasing because of the rising prevalence of diabetes and obesity. Hence, the need for early detection and prevention.
• PAHO is working to strengthen heart health initiatives in the Americas, including programs to raise awareness and provide treatment for aortic stenosis.
• Local manufacturers are now beginning to produce low-cost devices for treating PAD, which will make it possible to treat even patients in poorer districts.

Did You Know?

“In the United States, 8 to 12 million people suffer from peripheral artery disease (PAD).1 Due to a lack of awareness and lack of screening, many are undiagnosed.” — American Heart Association

Segmental Market Size

The market for peripheral arterial disease plays an important role in addressing the growing burden of vascular disease that is caused by the aging of the population and the changing lifestyles. Awareness of PAD is on the rise, and so are the treatment options. The increasing number of diabetes and obesity, both of which are risk factors for PAD, and the growing emphasis on early diagnosis and intervention to prevent serious complications are driving the market.

The treatment of PADs has reached a state of maturity, and companies like Medtronic and Boston Scientific are the leaders in new therapies and devices. In hospitals and specialized clinics, angioplasty and stents are used in the majority of cases. The integration of telemedicine and remote monitoring is accelerating growth, especially in response to the COVID-19 pandemic, which has radically changed the patient care model. Moreover, drug-eluting stents and advanced diagnostics are driving the evolution of this market, improving treatment and patient outcomes.

Future Outlook

The peripheral artery disease (PAD) market is expected to show significant growth from 2024 to 2032, growing from $2,899.9 million to $4.9 billion, indicating a CAGR of 6.8 percent. The growth is primarily driven by the rising prevalence of cardiovascular diseases, an aging population, and the increasing awareness of PAD among healthcare professionals and patients. The rising prevalence of PAD is expected to lead to a greater demand for effective diagnostic and therapeutic solutions.

The use of endovascular therapies and drug-eluting stents, which are expected to improve treatment outcomes and patient experiences, will also be a major driver for market growth. Furthermore, the integration of digital health solutions, such as telehealth and remote monitoring, will further improve patient management and adherence to treatment guidelines. Policy initiatives, such as the European Heart Health initiative and the implementation of the ICH guidelines, will also play a key role in the market’s development.

This is the second of the series of articles on the market for ischemic heart disease. In the coming years, as health care systems move towards value-based care, the demand for cost-effective and efficient treatment options will increase. By 2032, the penetration of advanced therapies is expected to increase significantly, with an estimated 30% of patients with peripheral artery disease receiving new treatments, thus transforming the treatment of this chronic disease and improving the outcome for patients.