The global interventional vascular devices market has been forecast to grow at a compound annual growth rate (CAGR) of 7.8%, to be worth a market value of $12.7 billion in 2016, increasing from 2011's value of $8.7 billion.
The major factor driving the global interventional vascular devices market will be the increasing demand for minimally invasive percutaneous endovascular treatment.
As the number of cases of coronary and peripheral artery diseases continues to rise in the coming years, along with increasing trends in co-morbid conditions such as obesity and diabetes, the vascular interventional devices market for treating these diseases is set to show significant growth prospects through to 2016.
The US represents the largest regional sector of the interventional vascular devices market, followed by Europe.
The number of diagnostic and therapeutic PVD interventions in the US has been estimated to reach 4.3 million in 2013, with sales of products to perform these procedures set to reach nearly $2 billion over the same period.
Asian countries look set to show the fastest growth for the market, as low procedural and infrastructural costs have led to an increased drive of patients from developed regions towards Asian countries such as India and China.
Furthermore, key market players such as Abbott Vascular (US), Boston Scientific (US) and Medtronic, Inc. (US) have shown an increased preference towards Asian countries for interventional vascular devices market expansion.
For more information on the interventional vascular devices market, see the latest research: Interventional Vascular Devices Market Report
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