Market Trends of Peripheral Artery Disease Industry
The Balloon Catheters Segment Expected to Witness Significant Growth Over the Forecast Period
Balloon catheters, pivotal in treating peripheral artery disease (PAD), work by dilating narrow or blocked arteries to boost blood flow. These devices, featuring a thin, flexible tube with a balloon tip, offer a less invasive alternative to traditional surgeries, forming a crucial part of the broader PAD management spectrum.
The rising prevalence of PAD, coupled with ongoing advancements in balloon catheter technology like enhanced balloon materials, innovative designs, biocompatible coatings, and advanced drug delivery systems, bolsters the procedures' safety and effectiveness, which is anticipated to drive the segment’s growth over the forecast period.
Innovations in balloon catheters, including novel materials and coatings, aim to enhance procedural efficacy and minimize complications and are expected to spur market growth over the forecast period. For instance, in September 2023, Endovaste introduced a Reewarm PTX Drug-Coated Balloon (DCB) Catheter in Brazil, with its inaugural use at Paulo Sacramento Hospital in Sao Paulo. Looking ahead, Endovastec is committed to expanding its innovative product reach globally, aiming to benefit patients with peripheral vascular diseases.
Furthermore, the development of these advanced devices facilitates access to and dilation of arterial stenoses, which is anticipated to boost the segment’s growth. For instance, in June 2023, BIOTRONIK launched the Oscar Multifunctional Peripheral Catheter during a limited release, initiating promotional efforts at the Leipzig Interventional Course (LINC) in Leipzig, Germany. In the coming months, BIOTRONIK aims to broaden Oscar Catheter's commercial presence in the United States and other CE mark-accepting regions.
Moreover, an increase in product approvals from regulatory bodies is set to enhance market availability, potentially driving segment growth during the forecast period. For instance, in May 2024, BrosMed secured European Medical Device Regulation (MDR) certification for its New Generation PTA SC Balloon Dilatation Catheters, tailored for treating symptomatic peripheral artery disease.
Therefore, owing to the advancements in balloon catheters and the launches and approvals of balloon catheters by key players, the segment studied is expected to grow over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
North America is poised for substantial market growth during the forecast period, driven by a heightened prevalence of peripheral arterial diseases (PAD). This surge in PAD cases amplifies the demand for diagnostic and treatment devices, as well as medications.
The rising incidence of peripheral artery diseases is fueling the demand for interventional procedures aimed at alleviating blockages in the lower limb arteries. For instance, a study published in April 2023 by the Vascular Disease Management Journal projected the prevalence of peripheral artery disease in the United States to reach 22.4 million by 2025 and 23.8 million by 2030. This increase in PAD cases is largely attributed to the aging US population. Consequently, as PAD prevalence rises, the demand for related devices and medications increases, driving the market's expansion.
Various studies are being conducted to assess the use of pharmacology drugs in treating PAD patients. For instance, according to an article published in Medicina Clinica in October 2023, the Canadian Cardiovascular Society 2022 Guidelines recommend treatment with rivaroxaban 2.5 mg twice daily in combination with aspirin (80–100 mg daily) in patients with symptomatic lower-extremity PAD who are at high risk for ischaemic events. Such guidelines propel the use of rivaroxaban in combination with aspirin for treating PAD patients, which is expected to bolster the demand for such drugs in the market, thereby driving market growth over the forecast period.
Furthermore, new product launches and approvals are expected to fuel the availability of peripheral artery disease drugs and devices in the market. This, in turn, is anticipated to propel the market’s growth over the forecast period. For instance, in July 2023, Endologix received FDA approval for its Detour system to treat long, complex superficial femoropopliteal lesions. The detour system offers a new approach called percutaneous transmural arterial bypass (PTAB). It treats complex peripheral artery disease by allowing physicians to bypass lesions in the superficial femoral artery by using stents routed through the femoral vein to restore blood flow to the leg.
Moreover, in April 2024, Abbott received the US Food and Drug Administration’s approval for Esprit™BTK Everolimus Eluting Resorbable Scaffold System (Esprit BTK System), a breakthrough innovation for people with chronic limb-threatening ischemia (CLTI) below-the-knee (BTK). Such product launches and approvals are likely to propel the growth of the regional market during the forecast period.
Therefore, owing to the high burden of peripheral artery diseases and new product approvals, the market studied is expected to grow over the forecast period.
