Peripheral arterial disease (PAD) is a medical condition characterized by the narrowing or blockage of blood vessels that supply the limbs, usually the legs. PAD has emerged as one of the leading global health burdens affecting over 200 million people worldwide. The condition is primarily caused by the build-up of fatty plaques or atherosclerosis in the arteries and leads to reduced blood flow to peripheral organs. Common symptoms associated with PAD include pain in thighs, hips or calves when walking known as intermittent claudication. At an advanced stage, it can even lead to non-healing wounds or gangrene requiring amputation.
The global peripheral arterial disease therapeutics market is highly reliant on drug therapy as the primary form of treatment to address atherosclerosis and improve blood flow. Drugs commonly administered include antiplatelets, statins, angiotensin-converting enzyme (ACE) inhibitors, PDE5 inhibitors, and others. Surgical procedures are also carried out in severe cases to bypass blockages or clear fatty deposits.
The Global Peripheral Arterial Disease Therapeutics Market is estimated to be valued at US$ 4.8 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the peripheral arterial disease therapeutics are Novartis, Bayer, Pfizer, Amgen, Sanofi.
Growing prevalence of diabetes, obesity, and hypertension coupled with rising geriatric population prone to developing atherosclerosis has significantly driven the demand for PAD treatment drugs and devices in recent years. According to estimates, over 50% of people aged above 60 years are diagnosed with PAD globally.
Moreover, increasing therapeutic advancements in drug eluting stents, drug coated balloons, and surgical bypass grafts for clearing blockages is amplifying adoption rates. Major players are also diversifying their product portfolios through acquisitions and regional expansion to tap emerging markets across Asia Pacific and Latin America.
Market Key Trends
A key trend gaining traction in the PAD therapeutics market is the advent of stem cell therapy. Researchers are exploring the potential of isolating a patient's own stem cells, multiplying them in the lab, and injecting them back into limbs to regenerate new blood vessels. Preliminary clinical studies have demonstrated stem cell therapy's capability to significantly improve blood flow and reduce amputation risk. With ongoing research, it may emerge as a promising alternative to conventional endovascular and surgical revascularization methods over the next decade.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand loyalty act as entry barriers.
Bargaining power of buyers: Large customer base with varying needs increases bargaining power.
Bargaining power of suppliers: Critical life-saving drugs limit substitutes and increase supplier power.
Threat of new substitutes: Alternate treatments present but none match efficacy of drugs in management of disease.
Competitive rivalry: Intense competition to develop newer drugs and acquire market share.
Geographical Regions
North America currently holds the largest share of the peripheral arterial disease market, mainly due to rising geriatric population and increasing prevalence of diabetes.
Asia Pacific is poised to grow at the fastest pace during the forecast period, owing to growing medical tourism, rising healthcare expenditure and increasing focus of key players on emerging Asian countries.
What Are The Key Data Covered In This Peripheral Arterial Disease Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Peripheral Arterial Disease 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Peripheral Arterial Disease and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Peripheral Arterial Disease Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Peripheral Arterial Disease vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it