Global Market for Peripheral Vascular Surgical Devices to Grow To $8.4 Billion By 2018
Wellesley, Mass. (PRWEB) March 12, 2014
According to a new technical market research report Peripheral Vascular Surgical Devices: Technologies and Global Markets, from BCC Research (http://www.bccresearch.com), the global market for peripheral vascular surgical devices was valued at $5.8 billion in 2012 and at $6.2 billion for 2013. BCC Research expects the market to grow to $8.4 billion by 2018, and register a five-year compound annual growth rate of 6.3% from 2013 to 2018.
Peripheral vascular disease is a condition in which the blood vessels in the extremities are narrowed or otherwise blocked, inhibiting blood flow in the vessels and impeding oxygenation in affected tissues. The primary cause of peripheral vascular disease is atherosclerosis, the accumulation of plaque in blood vessels. Plaque consists of fat, cholesterol, calcium, and waste materials in the blood, including fibrous tissue. According to the National Heart Lung and Blood Institute, in 2012, between 8 million and 12 million people in the U.S. had some form of atherosclerosis-related peripheral vascular disease.
Many of the same risk factors for cardiac disease, such as advanced age, hypertension, diabetes and obesity, also contribute to the development of peripheral vascular disease. Vascular disease can be initiated by factors that damage the inner lining (intima) of the arteries, including high levels of LDL fats, cholesterol or sugar in the blood stream, high blood pressure and smoking.
Although these risk factors were previously associated with cardiovascular disease in high-income, developed countries, the World Health Organization has pointed out that these risk factors—particularly obesity—are of increasing concern in low- and middle-income nations, particular in areas of Africa and the Americas. While public health efforts have reduced the prevalence of conditions such as hypertension in developed countries, certain low-income countries, especially those in Africa, have now taken their place as having the highest prevalence of hypertension.
Vascular surgery is increasing globally, with the contribution of macroeconomic factors such as aging populations, increasing rates of obesity, poor nutrition and other health stressors, as well as improving availability of health services in developing countries. In recent years, new technologies have been developed that make sophisticated therapies accessible for patients in previously underserved locations.
This technical market research report from BCC Research provides an overview of multiple technologies and procedures related to peripheral vascular surgical devices. It presents an analysis of the industry on a worldwide basis from market, product, and technology perspectives. Regulations and reimbursement issues and patents issued from 2010 through the end of 2013 are also examined to identify patient safety, regulatory review, and insurance coverage issues for stakeholders and potential stakeholders in this industry.
In addition, this report discusses the most active manufacturers with respect to relative market share, marketing strengths, and forces that promote or hinder the growth of technologies. The technology sections detail historical, current (2013) and projected (2013 to 2018) market values.
Sources included companies in the peripheral vascular device market and supply industry, public documents, SEC filings, corporate white papers, and other technical documentation for U.S. and international companies directly involved in manufacturing and distributing of peripheral vascular surgery devices and related products. The report excludes resellers and retailers, focusing rather on the primary companies responsible for the development of the underlying technology. Where precise information was not available, a consensus was made using reasonable assumptions and estimates based on historical data.
This report intended for a wide range of readers, including marketing and management executives within the medical device industry, venture capital professionals interested in exploring commercialization opportunities, and anyone else who would like to better understand how market factors and technologies interact in this industry.