The global Peripheral Artery Disease Treatment Market is anticipated to experience significant revenue growth over the forecast period. This growth can be attributed to the high prevalence rate of PAD, an increasing geriatric population, and a rising awareness among the general population. PAD is a cardiovascular condition characterized by narrowed arteries that impede blood flow to the limbs. While the legs are most commonly affected, arteries carrying blood from the heart to the brain, arms, kidneys, and stomach can also be damaged. This condition is primarily caused by the buildup of fat deposits, known as plaques, in the artery walls, which restrict blood flow to various organs, limbs, and the head.
Market Growth Drivers: The increasing number of elderly individuals with diabetes and high blood pressure is a key driver for revenue growth in the market. Additionally, the growing demand for minimally invasive treatments, especially for peripheral artery disease, will fuel market growth.
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Furthermore, authorities and governments are taking proactive steps to strengthen healthcare systems and raise awareness about the benefits of advanced treatment methods for PAD. These initiatives will contribute to the expansion of the market.
Market Growth Restraints: The recurrence of peripheral artery disease following treatment is a major factor restraining the revenue growth of the market during the forecast period. Moreover, product recalls may present a new obstacle for the growth of the peripheral arterial disease market in the future.
Additionally, concerns about restenosis, which refers to the re-narrowing of an artery after angioplasty, could impede market growth during the forecast period.
Market Opportunities: The global peripheral artery disease market is being driven by increasing obesity cases, rising government recommendations for advanced patient treatment, and attractive compensation policies. Furthermore, the growth of insurance coverage is expected to create new opportunities for the global peripheral artery disease market.
Geographic Market Scenario: Region with the Largest Revenue Share: The global PAD treatment market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to hold the largest market share during the forecast period. This is attributed to the rising prevalence of diabetes, increasing healthcare costs, and a growing number of obesity patients. The lack of physical exercise among individuals has made them more susceptible to peripheral artery disease.
Furthermore, the U.S. market is the most adaptable and receptive to new technologies, treatments, prescription regimens, and devices, making it the market leader.
Region with the Fastest Revenue Growth Rate: The Asia Pacific region is expected to witness the fastest growth rate during the forecast period. This can be attributed to the increasing elderly population and higher healthcare spending. The Asia Pacific market is experiencing rapid growth due to the expanding senior population, adoption of healthcare solutions for improved quality of life, increased health awareness, the prevalence of lifestyle-related diseases, and significant investments in the healthcare industry.
Key Market Trends and Innovations: A phase 3 clinical trial study is currently being conducted by Robert Rosenson and the Icahn School of Medicine to compare the efficacy of Ticagrelor with Aspirin in reducing blood viscosity in patients with Type 2 Diabetes and PAD. This study has the potential to expand the treatment options for healthcare professionals and transform the landscape of PAD treatment.
A study conducted by Bayer has demonstrated that Rivaroxaban can help prevent major cardiovascular events in PAD, such as myocardial infarction, stroke, or cardiovascular death. This study broadens the indications for which Rivaroxaban can be used.
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Organic and Inorganic Strategies: In August 2021, Janssen Pharmaceutical Companies of Johnson & Johnson announced FDA approval of XARELTO (Rivaroxaban) Plus Aspirin for the treatment of patients undergoing Lower-Extremity Revascularization (LER) due to symptomatic PAD.
Nuvo Pharma recently completed the acquisition of Aralez Pharma, a leading pharmaceutical company manufacturing drugs used in PAD treatment, such as ZONTIVITY (Vorapaxar).
In January 2020, SidekickHealth, a Nordic digital therapeutics business, formed a strategic partnership with Bayer, a major pharmaceutical and life sciences corporation, to offer a medication management and lifestyle modification platform to help people manage Peripheral Artery Disease (PAD).
Major Companies in the Market: Key players in the market include Bayer HealthCare, Janssen Pharmaceuticals, Bristol-Myers Squibb, Sanofi, Aralez Pharmaceuticals, Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, Cardinal Health, Medtronic, as well as start-ups and innovators like Anthos Therapeutics and Liprostin Group, Inc.
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Drug Class Outlook: Lipid-Lowering Agents Blood Pressure Lowering Agents Glucose Regulating Agents Blood Clot Preventing Agents
Route of Administration Outlook: Oral Parenterals Others
End-User Outlook: Hospitals & Clinics Specialty Clinics Academic & CROs Others
Distributor Channel Outlook: Offline Distribution Online Distribution
Regional Outlook: North America (U.S., Canada, Mexico) Europe (Germany, UK, France, Italy, Spain, Benelux, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific) Latin America (Brazil, Rest of Latin America) Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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