Peripheral Artery Disease Market Size to Reach USD 23,624.01 Million by 2025 Registering a Positive CAGR of 3.1%, Predicts Market Research Future (MRFR)

By Globe Newswire1 day ago

Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Peripheral Artery Disease Market Overview:

Market Research Future (MRFR) evaluates that the Global Peripheral Artery Disease Market is anticipated to acquire a market value of USD 23,624.01 Million, while expanding at a CAGR of 4.84% during the forecast period, Peripheral Artery Diseases (PAD) are the diseases of the blood vessels located outside the brain and heart.

The growing cases of peripheral artery diseases and the rapid rise in the geriatric population are anticipated to expand the global peripheral artery diseases market during the forecast period. The introduction of advanced interventional products such as; drug-coated balloons areexpected to augment the market growth in the analysis timeframe. Furthermore, increasing cases of diabetes are also predicted to grow the industry in the forecast tenure. On the other hand, the increasing instances of product recalls are anticipated to hamper the market growth in the coming time. However, the growing insurance coverage is predicted to offer significant opportunities of market expansion in the forecast timeframe. In addition, emerging countries such as; India, China, and Brazil are expected to experience high growth in the coming time due to the presence of lenient rules and low competition. The rapid expansion of the private healthcare sector to accommodate the needs of the increasing middle-class population is another salient cause that can augment the market size in the analysis timeframe.

The outbreak of COVID-19 has brought a negative impact on the PAD market due to the reduced number of patient visits to hospitals. As a result, the number of diagnostic tests has also reduced, which has brought a negative impact on the market. Furthermore, the temporary shutdown of the manufacturing units due to lockdowns across the globe has impacted the production and supply chain of the devices that impacted the growth of the overall peripheral arteries diseases market.

The segmental analysis of the global peripheral arteries diseases market is done by treatment type and the end-user. In the treatment type segment of the global peripheral artery diseases market, the device segment is predicted to acquire the maximum market share during the forecast period. In the end-user segment of the global peripheral artery diseases market, the hospitals and clinics segment is anticipated to procure the maximum market share in the assessment tenure. The expansion of the segment can be attributed to the patients' preference to go to hospitals for better care.

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