The Growth in this market is driven mainly by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, approval of new and advanced products, and the growing preference for minimally invasive surgeries.

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Vascular devices can be described as medical devices used in the case of catheterization after cardiovascular surgery for occlusion and hemostasis of arteries.

Market Segmentation

Based on type, the angioplasty balloons market is segmented into old/normal balloons, cutting and scoring balloons, and drug-eluting balloons. In 2019, the old/normal balloons segment accounted for the largest share of the angioplasty balloons market. The large share of this segment can be attributed to a large number of plain old balloon angioplasty (POBA) procedures carried out across the globe.

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Based on type, the plaque modification devices market is segmented into atherectomy devices and thrombectomy devices. In 2019, the atherectomy devices segment accounted for the largest share of the plaque modification devices market, mainly due to the increasing incidence of atherosclerosis as a result of the rising global prevalence of obesity.

Regional Analysis
North America accounted for the largest share of the peripheral vascular market in 2019. The large share of this segment can primarily be attributed to the rising incidence of cardiovascular diseases, the growing geriatric population, and the strong presence of industry players in the region.

Key Markets Players
Some of the major players in the peripheral vascular devices market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain), Becton, Dickinson and Company (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany).

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Expected Revenue Growth:
According to the new market research report "Peripheral Vascular Devices Market by Type (Angioplasty Balloon, Stent, Catheters (Angiography, IVUS), Plaque Modification (Atherectomy, Thrombectomy), Hemodynamic Flow Alteration, IVC Filters, Guidewires), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Peripheral Vascular Devices Market is projected to reach USD 12.6 billion by 2025 from USD 9.2 billion in 2020, at a CAGR of 6.5%.

Medtronic (Ireland) held the leading position in the peripheral vascular devices market in 2020. The company offers an exhaustive product portfolio consisting of various peripheral vascular devices.