Vascular disease is any condition that affects natural blood
circulation through blood vessels. It includes conditions such as peripheral
artery disease (PAD), abdominal aortic aneurysm (AAA), carotid artery disease (CAD),
arteriovenous malformation (AVM), critical limb-threatening ischemia (CLTI),
pulmonary embolism (blood clots), deep vein thrombosis (DVT), chronic venous
insufficiency (CVI), and varicose veins. High blood pressure, cholesterol
deposition, cardiac injury, and infections are causative factors for vascular
diseases. Diabetes, hypertension, obesity, alcohol consumption, and tobacco
smoking are the risk factors for vascular diseases.
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COVID-19 Impact Analysis:
The impact of COVID-19 pandemic is expected to remain negative for
the global vascular disease devices market. The companies are facing a setback,
owing to the lock-down, which led to a drop in the manufacturing and the
patient flow reduced substantially. In addition, wave of COVID-19 has create
burden on hospitals, resulting in cancellation or delayed vascular surgeries.
However, the advancements in vascular devices and improved healthcare
infrastructure will boost the growth of the vascular disease devices market
post-pandemic.
The vascular
surgeries are done with specially designed devices such as stents,
balloons, catheters, and filters. The vascular catheters are flexible, sterile
plastic tubes inserted into a blood vessel to allow blood to be drawn from or
medication to be delivered into a patient's bloodstream. A stent is a tiny,
expandable metal mesh coil. It is put into the newly opened area of the artery
to help keep the artery from narrowing or closing again. The balloons and
stents are used for angioplasty. Angioplasty is a vascular surgery in which a
balloon-tipped catheter is inserted in arteries to open a blocked blood vessel
and improve blood flow.
The vena
cava filters are special devices that are inserted into the main vein (vena
cava) to prevent blood clots from moving from the vein in the legs to the lung,
which would result in a life-threatening pulmonary embolism.
Factors
that drive the growth of the vascular disease devices market include rise in
the prevalence of vascular diseases, an increase in the geriatric population,
and advancement in vascular disease treatment. For instance, according to World
Population Ageing 2019, a publication by the United Nations Department of
Economic and Social Affairs, there were 703 million people aged 65 years or
over in the world in 2019. The surge of sedentary lifestyles and unhealthy food
diets has contributed to the growth of the market. Sedentary lifestyle is
responsible for the deposition of cholesterol in blood vessels.
North America accounted for a majority of the global vascular disease
devices market share in 2020, and is anticipated to remain dominant during the
forecast period. This is attributed to rise in the prevalence of cardiovascular
diseases, presence of key players for R&D in vascular disease devices, and
increase in number of hospitals & surgery centers in the region. Asia-Pacific
is anticipated to witness lucrative growth, owing to an increase in healthcare
facilities, high population, and government initiatives to provide healthcare
services.
Key Findings:
- On the basis of product, the stents segment was the highest contributor to the market in 2020.
- By end user, hospitals & cardiac clinics segment dominated the market in 2020.
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-pacific is anticipated to grow at the highest CAGR during the forecast period.
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