Peripheral artery disease (PAD) is the narrowing and/or
blockage of arteries, which restricts the blood flow. This medical condition is
also known as peripheral vascular disease (PVD). It occurs due to accumulation
of fatty or calcified material in an artery wall. The most common symptoms of
PAD are pain in the lower extremities, discomfort in muscles of the calves
and/or thighs, burning sensation and buttock pain. Moreover, the accumulation
of plaque may remarkably reduce the blood flow through the arteries with the disease
progression. Thus, peripheral vascular stents are used to treat these medical
conditions.
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Rise in prevalence of PAD coupled with increasing geriatric
population is the prime factor driving the market growth. This is a very common
condition that affects millions of people across the globe. As per the American
Heart Association (AHA) estimates 8 million Americans (aged >40 years) are
suffering from PAD. In addition to this, the rapidly aging population is
contributing to the market growth as this group is more prone to PAD. The
global population is aging rapidly. Almost every country is experiencing growth
in the number and proportion of older people in their population. As per United
Nations Department of Economic and Social Affairs, the number of older people
is projected to reach 2 billion in 2050 from 841 million people in 2013. Thus,
the rapidly aging population will accelerate the demand for peripheral vascular
stents in near future. Such high target population will bring in ample growth
opportunities for the key players to develop technologically advanced products.
However, there are many people who go undiagnosed due to low awareness about
the disease, which hinders the market growth.
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Innovation is set to derive the demand for peripheral
vascular stents globally. Therefore, key players are highly focused on
developing innovative peripheral vascular stents to meet the unmet medical
needs. For instance, in February 2016, Boston Scientific obtained CE Mark for
its Eluvia Drug-Eluting Vascular Stent System, which can restore blood flow in
the peripheral arteries. This system provides a unique drug-polymer combination
to provide continued release of the drug for preventing narrowing of the
vessel. Likewise, in June 2015, Terumo Interventional Systems launched its
MISAGO RX Self-expanding Peripheral Stent to treat patients with peripheral
artery disease in the proximal popliteal and superficial femoral artery. Such
product developments helped these companies to strengthen their product
portfolio to sustain their position in the market.
Major players operating in this market are Terumo Medical
Corporation, Boston Scientific, Cardinal Health, Abbott Laboratories, Braun
Melsungen, Biotronik, Cook Medical, C.R. Bard, Intact Vascular, W.L. Gore &
Associates, and Medtronic.
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