Peripheral Artery Disease, also sometimes referred as Peripheral Vascular Disease or Peripheral Occlusive Disease causes mainly due to Atherosclerosis or the narrowed artery owing to the deposition of plague or cholesterol on the walls of artery. Currently the world is witnessing over 200 million cases of Peripheral Artery Disease (PAD) sadly, the figure is expected to grow every year; despite of the several innovative therapies like revascularization procedures or technological advancement transpired in the field of PAD. The rising prevalence of this disease is becoming a major concern fuelling the global Peripheral Artery Disease market growth.
Accrediting the fiercely ascending PAD market with the prevalence of this intimidating disease rising at an alarming rate the Market Research Future, recently published a meticulous study report – the Global Peripheral Artery Disease Market. According to which the PAD market is gaining prominence currently and will continue to grow during the years to come. MRFR also reveals the potential market size of the Global Market of Peripheral Artery Disease expected to reach to USD 3.47 Billion registering a CAGR of 6.5 % during forecasted period of 2017-2023.
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The global Peripheral Artery Disease market predominantly driven by the growing numbers of patients of PAD attributing to the changing lifestyle, heady life style that leads to obesity and diabetic conditions etc.
On the other hand, factors such as stringent rules and regulation and reimbursement issues in many countries are likely to present restrictions to the market growth. However, growing number of technologies (biotechnology) is expected foster the Peripheral Artery Disease market growth pervasively.
Innovation is set to derive the PAD market globally. Therefore, key players are highly focused on developing innovative peripheral devices to meet the unmet medical needs. Scientists from health care system are trying to bring diversity of engineering and design backgrounds in to the field of biotechnology to find advent medication.
Patients with Peripheral Artery Disease (PAD) are at high risk of heart attack, stroke and cardiovascular death. In addition, PAD patients can suffer major adverse limb events, such as acute limb ischemia the equivalent of a heart attack in the leg that can lead to limb loss. Managing PAD is equally challenging for patients and physicians. Despite the best available treatment including high-intensity statins, risk of cardiovascular and limb events remains high. With few clinical trials focused on patients with PAD, physicians often are extrapolating from studies in broader populations with atherosclerosis about the best treatment approach for these patients. Unfortunately, few of these studies have characterized limb risk and fewer have demonstrated benefits of preventive therapies in reducing this risk.
Peripheral Artery Disease Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Peripheral Artery Disease appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Top players are investing heavily in R&D and clinical trials to develop effective Peripheral Artery Disease program which is comprehensive, advanced and state-of-the-art. The key players operating in the Peripheral Artery Disease market (devices) emphasize on product development in order to introduce improved devices and capture a larger share of the market. Johnson & Johnson (U.S), Medtronic (Ireland), Sanofi S.A. (France), Abbott Laboratories (U.S), AstraZeneca Plc. (UK), Boston Scientific Corporation (U.S), Angioscore, Inc. (U.S), Bristol-Myers Squibb Company (US), Betagenon AB (Sweden), Proteon Therapeutics, Inc. (US), Merck & Co., Inc. (US), Bayer HealthCare Pharmaceuticals (Germany), Symic Bio, Inc. (US), Cardiovascular Bio Therapeutics, Inc. (US), nGes MG, Inc. (Japan), and TheraVasc Inc. (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Peripheral Artery Disease Market.
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Industry/Innovation/Related News:
Nov. 16, 2017 – Devonian Health Group Inc. (US) a clinical stage botanical pharmaceutical corporation, announced that the company has filed a patent application for Thykamine™ use in cardiovascular diseases and the several diseases associated with inflammation of the cardiovascular system such as Angina, Stroke, Myocardial/Cerebral Infarction, Atherosclerosis, Ischemia, Rheumatic Heart Disease, Cardiomyopathy, Heart Arrhythmia, Peripheral Artery Disease (PAD), Venous Thrombosis, Unstable Angina, and Arterial Revascularization. The filing of this new patent is yet another pivotal component of their broad strategy of expanding already robust list of patents. Importantly, this filing is timely as the company look to demonstrate the potential broad application of Thykamine™ as an anti-inflammatory drug.
Nov. 20, 2017 – Cagent Vascular (US), a developer of next generation technology for vessel dilatation in cardiovascular disease interventions, announced the issuance of its CE Marking for the Serranator® PTA Serration Balloon Catheter. The Serranator® is one of a family of peripheral artery disease (PAD) technologies which incorporates proprietary Serration Technology to an angioplasty balloon.
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Peripheral Artery Disease Market – Regional Analysis
On regional basis, Global Peripheral artery market is segmented as North America, Europe, Asia Pacific and Middle East and Africa. Due to a huge people suffering from major or minor peripheral disease problem helps to increase the market of North America. North America has the largest market for peripheral artery disease. Due to increasing obese and diabetic patients the demand for the drugs of the peripheral artery diseases increases. Huge population in Asia pacific region and the swift development in this region has attracted many of the manufactures to develop their market in this region. This region has the highest growth rate for this market.
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