Peripheral Arterial Disease (PAD) Therapeutics Market Size, Share, Growth, and Industry Analysis, By Type (Anti-Platelet Drugs, Dual Antiplatelet Therapy Drugs, and Others), By Application (Hospitals, Clinics, and Others), Regional Insights, and Forecast To 2032

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Peripheral Arterial Disease (Pad) Therapeutics Market Report Overview

The global peripheral arterial disease (pad) therapeutics market size was USD 1.15 billion in 2023 and the market is projected to touch USD 2.07 billion by 2032 at a CAGR of 6.76% during the forecast period.

Peripheral arterial disease (PAD) is a medical condition in which narrowed arteries decrease blood flow to the arms or legs, most commonly affecting the legs. In PAD, the limbs, primarily the legs, experience insufficient blood supply to meet their requirements and cause symptoms such as leg pain during walking (claudication) and other associated symptoms.

Peripheral arterial disease therapeutics include medical treatments and healthy lifestyle practices to aid the disease and improve health conditions. This PAD therapeutics and treatment is aimed at improving symptoms, slowing the progression of the disease, reducing the risk of complications, and improving the patient's quality of life.

The demand for PAD therapeutics has been growing over the past few years due to the prevalence of arterial disease among people particularly, the geriatric population around the world. The growing number of patients with arterial disease enhances the demand for the therapeutic treatment of this disease which is likely to boost the growth of the market.

COVID-19 Impact Declined Outpatient Treatment for Non-Essential Diseases

The global COVID-19 pandemic has been unprecedented and staggering, with the peripheral arterial disease (PAD) therapeutics market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic deeply affected the peripheral arterial disease (PAD) market. The healthcare sector suffered immensely as hospitals, clinics, and laboratories were compelled to shut down in response to widespread lockdowns and quarantine measures across many regions. Consequently, non-essential medical procedures were postponed, and outpatient cases sharply declined during this health emergency. However, post-CVOID, the PAD market is anticipated to undergo significant transformations in the coming years with the growing prevalence of PAD.

Latest Trends

"Advancement in Peripheral Atherectomy Device Expand Market Outlook"

One of the latest trends in the market is minimally invasive interventions that are supporting the market’s development. Illustratively, a continued focus on minimally invasive procedures for PAD, including the use of drug-coated balloons and advanced stent technologies to reduce patient recovery time and complications is anticipated to aid the market’s growth. Besides, advancements in atherectomy devices, such as rotational and laser atherectomy are expanding options for plaque removal in minimally invasive procedures. As a result, leading companies in the market are focusing on developing advanced atherectomy devices to boost the expansion of the market. For instance, in June 2020, Becton, Dickinson, and Company acquired Straub Medical AG, a private corporation. Straub Medical AG specializes in developing medical atherectomy and thrombectomy devices used for addressing venous and peripheral arterial disorders (PAD). This acquisition has bolstered Becton, Dickinson, and Company's capabilities in treating peripheral artery disease (PAD), enhancing its portfolio of PAD treatment options.

Peripheral Arterial Disease (Pad) Therapeutics Market Segmentation

• By Type

According to type, the market can be bifurcated into Anti-Platelet Drugs, Dual Antiplatelet Therapy Drugs, and Others.

• By Application

Based on application, the market can be divided into Hospitals, Clinics, and Others.

Driving Factors

"Prevalence of PAD Drives Market Growth"

The market for arterial disease therapeutics is experiencing significant growth due to the rising incidence of peripheral arterial disease across the globe which is a key driving factor of the market. The prevalence of PAD is continuing to rise mainly driven by aging populations and increasing rates of diabetes and obesity cases. As the number of cases of these diseases rises, the demand for effective therapeutic options is likely to increase which is expected to propel the peripheral arterial disease (PAD) therapeutics market growth over this projection period.

"Increased Awareness of PAD Enhance the Demand for Therapeutics"

Along with this, the market is also driven by the increased awareness of PAD among both patients and healthcare professionals which leads to earlier diagnosis and treatment for the disease. Thus, this growing awareness of PAD boosts the demand for the therapeutics. As well as, innovations in medical devices and techniques, such as minimally invasive procedures, angioplasty, and stenting are also expanding the treatment options available for PAD which can be attributed to augment the growth of this market.

Restraining Factors

"Possibilities of Recurrence Can Impede the Market Development"

However, the market has some restraining factors such as the recurrence of peripheral arterial disease post-treatment, which is expected to hinder the growth of the PAD market during this forecast period. Similarly, lack of awareness about PAD and its symptoms among patients and healthcare professionals can result in delayed diagnosis and treatment which can also slow down the market’s growth.

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Peripheral Arterial Disease (Pad) Therapeutics Market Regional Insights

"North America Leads the Market due to Aging Demographics & Sedentary Lifestyle Factors"

According to market research, North America is an eminent region in the market and is projected to lead the market’s growth owing to a higher PAD prevalence driven by aging demographics and lifestyle factors. As well as advanced healthcare infrastructure, robust research and development efforts, widespread health insurance coverage, and active health awareness initiatives are expected to contribute to North America's prominent role in the market. In terms of market revenue, the region accounts for the largest peripheral arterial disease (PAD) therapeutics market shares in the global marketplace.

Key Industry Players

"Key Players Conduct Rigorous Clinical Trials to Prove Safety and Efficacy of their Products for Regulatory Approvals"

With regard to key players, notable companies strive to secure the highest market revenue in the PAD therapeutics market with a focus on innovation through product development, rigorous clinical trials, and evidence-building efforts. They also invest in marketing and education to raise awareness among healthcare professionals and patients, optimize pricing strategies, and expand their reach into emerging markets. Moreover, strategic partnerships, acquisitions, and a commitment to post-market surveillance further strengthen their market position.

List of Top Peripheral Arterial Disease (Pad) Therapeutics Companies

• Bristol-Myers Squibb Company (US)
• Sanofi S.A. (France)
• Merck & Co., Inc. (US)
• Bayer HealthCare Pharmaceuticals (Germany)

Report Coverage

This report defines the peripheral arterial disease (PAD) therapeutics market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.