The North America Peripheral Artery Disease Market would witness market growth of 6.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Peripheral Artery Disease Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.87 billion by 2031. The Canada market is experiencing a CAGR of 8.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.6% during (2024 - 2031).
There are a number of important elements that are driving the industry, one of the most notable of which is the rising incidence of the condition. The prevalence rates of PAD are much higher with increasing age, as indicated by the National Library of Medicine, which estimates that nearly 8.5 million people in the United States alone are affected by the condition. This growing incidence is closely linked to the aging population. As people age, the likelihood of developing PAD increases due to the cumulative effects of risk factors such as hypertension, diabetes, high cholesterol, and smoking.
Another critical driver of the market is the rising prevalence of diabetes and hypertension, both of which are significant risk factors for the disease. These conditions exacerbate the risk of developing PAD, thereby increasing the patient pool requiring medical intervention. In addition, the increasing prevalence of lifestyle-related risk factors, including sedentary behavior and poor dietary practices, is a contributing factor to the increase in PAD cases.
In Canada, the demand for PAD treatment is influenced by an aging population and rising rates of diabetes. Statistics Canada highlights that the population aged 65 and over was 7,568,308 in July 2023. This demographic shift increases the prevalence of age-related conditions, including PAD. Furthermore, Diabetes Canada reports that 11 million Canadians are living with diabetes or prediabetes, conditions that significantly increase the risk of developing PAD. Moreover, in Mexico, the rising demand for PAD treatment is primarily driven by increasing rates of diabetes and obesity, coupled with a growing awareness of cardiovascular diseases. Diabetes in Mexico is increasing rapidly, with a prevalence of nearly 17% in 2021, as reported by the International Diabetes Federation. This implies that 14 million Mexican adults aged 20 to 79, or one in six individuals, are affected by diabetes. By 2045, it is anticipated that the condition will impact more than 21 million individuals. Thus, the North American market is projected for continued growth, propelled by the aforementioned factors.
Based on Product Type, the market is segmented into Drugs (Antiplatelet Medicines, Statins, Anti Hypertensive Medication, and Others), and Devices (Peripheral Stents, Peripheral Angioplasty Balloons, Peripheral Catheters, Plaque Modification Devices, Inferior Vena Cava Filters, Hemodynamic Flow Alteration Devices, and Peripheral Accessories). Based on End User, the market is segmented into Hospitals, and Specialty Clinics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The US market dominated the North America Peripheral Artery Disease Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.87 billion by 2031. The Canada market is experiencing a CAGR of 8.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.6% during (2024 - 2031).
There are a number of important elements that are driving the industry, one of the most notable of which is the rising incidence of the condition. The prevalence rates of PAD are much higher with increasing age, as indicated by the National Library of Medicine, which estimates that nearly 8.5 million people in the United States alone are affected by the condition. This growing incidence is closely linked to the aging population. As people age, the likelihood of developing PAD increases due to the cumulative effects of risk factors such as hypertension, diabetes, high cholesterol, and smoking.
Another critical driver of the market is the rising prevalence of diabetes and hypertension, both of which are significant risk factors for the disease. These conditions exacerbate the risk of developing PAD, thereby increasing the patient pool requiring medical intervention. In addition, the increasing prevalence of lifestyle-related risk factors, including sedentary behavior and poor dietary practices, is a contributing factor to the increase in PAD cases.
In Canada, the demand for PAD treatment is influenced by an aging population and rising rates of diabetes. Statistics Canada highlights that the population aged 65 and over was 7,568,308 in July 2023. This demographic shift increases the prevalence of age-related conditions, including PAD. Furthermore, Diabetes Canada reports that 11 million Canadians are living with diabetes or prediabetes, conditions that significantly increase the risk of developing PAD. Moreover, in Mexico, the rising demand for PAD treatment is primarily driven by increasing rates of diabetes and obesity, coupled with a growing awareness of cardiovascular diseases. Diabetes in Mexico is increasing rapidly, with a prevalence of nearly 17% in 2021, as reported by the International Diabetes Federation. This implies that 14 million Mexican adults aged 20 to 79, or one in six individuals, are affected by diabetes. By 2045, it is anticipated that the condition will impact more than 21 million individuals. Thus, the North American market is projected for continued growth, propelled by the aforementioned factors.
Based on Product Type, the market is segmented into Drugs (Antiplatelet Medicines, Statins, Anti Hypertensive Medication, and Others), and Devices (Peripheral Stents, Peripheral Angioplasty Balloons, Peripheral Catheters, Plaque Modification Devices, Inferior Vena Cava Filters, Hemodynamic Flow Alteration Devices, and Peripheral Accessories). Based on End User, the market is segmented into Hospitals, and Specialty Clinics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Becton, Dickinson and Company
- Bayer AG
- Koninklijke Philips N.V.
- Abbott Laboratories
- Terumo Corporation
- B.Braun Melsungen AG
- Medtronic PLC
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Biotronik SE & Co. KG
Market Report Segmentation
By Product Type- Drugs
- Antiplatelet Medicines
- Statins
- Anti Hypertensive Medication
- Others
- Devices
- Peripheral Stents
- Peripheral Angioplasty Balloons
- Peripheral Catheters
- Plaque Modification Devices
- Inferior Vena Cava Filters
- Hemodynamic Flow Alteration Devices
- Peripheral Accessories
- Hospitals
- Specialty Clinics
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Peripheral Artery Disease Market by Product Type
Chapter 5. North America Peripheral Artery Disease Market by End User
Chapter 6. North America Peripheral Artery Disease Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Becton, Dickinson and Company
- Bayer AG
- Koninklijke Philips N.V.
- Abbott Laboratories
- Terumo Corporation
- B. Braun Melsungen AG
- Medtronic PLC
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Biotronik SE & Co. KG
Methodology
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