Critical limb ischemia treatment involves various products used for the treatment of blocked arteries in the legs limiting blood flow to tissues and which if untreated can potentially lead to amputation. These include endovascular devices such as drug-coated balloons, stents, catheter systems, and IV medications offering treatment options to patients suffering from pain and wounds due to limited blood flow.
The global critical limb ischemia treatment market is estimated to be valued at USD 5.10 Bn in 2024 and is expected to reach USD 9.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
Key players operating in the Critical Limb Ischemia Treatment are Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Cook Medical Inc., Cardiovascular Systems, Inc., Philips Healthcare, B. Braun Melsungen AG, Terumo Corporation, Biotronik SE & Co. KG, Cordis Corporation, Smith & Nephew plc, Stryker Corporation, AngioDynamics, Inc., GE Healthcare, Sanofi S.A., AstraZeneca plc, and Bristol-Myers Squibb Company. The growing geriatric population prone to peripheral artery diseases coupled with the increasing prevalence of diabetes driving demand. Additionally, technological advancements expanding treatment options and rising awareness levels regarding limb salvage procedures are catering to the market growth.
The growing demand can be attributed to the rising prevalence of cardiovascular diseases, diabetes, and peripheral artery diseases increasing the risk of critical limb ischemia. As per estimates, more than 200 million people suffer from peripheral artery disease globally. The increasing application of minimally invasive procedures over traditional open surgeries owing to benefits such as reduced pain, blood loss, and recovery time is boosting the market expansion. Furthermore, the introduction of personalized therapies targeting specific disease indications is expected to drive the Critical Limb Ischemia Treatment Market.
The market is witnessing high growth prospects in developing regions due to the expanding patient pool seeking treatment and increasing healthcare expenditure in these regions. Moreover, rising awareness regarding treatment alternatives and growing adoption of advanced treatment technologies are propelling the market growth. Additionally, increasing partnership between industry players and hospitals in developing nations to offer sustainable treatment solutions is anticipated to positively impact the critical limb ischemia treatment market trends globall y over the forecast period.
The shift towards personalized therapies targeting specific patient subsets based on various disease parameters is a key market trend. This involves the development of therapies tailored as per individual patient profiles, risk factors, type and severity of disease to enhance treatment efficacy and clinical outcomes. This trend steered by factors such as rising demand for customized care and growing focus on precision medicine is likely to boost the Critical Limb Ischemia Treatment Market Demand in the coming years.
Porter's Analysis
Threat of new entrants: Low investment costs required but high risks due to complex treatment options and presence of major players.
Bargaining power of buyers: Moderate due to availability of alternative treatment options.
Bargaining power of suppliers: Low due to availability of alternative suppliers of raw materials and devices.
Threat of new substitutes: Moderate threat due to availability of alternative treatment options like vascular surgeries and medications.
Competitive rivalry: High competition among major players to gain market share through new product launches and geographic expansion.
Geographical Regions
North America accounts for the largest share in the critical limb ischemia treatment market in terms of value due to higher adoption of advanced treatment procedures and products in the region.
Asia Pacific market is expected to witness the fastest growth during the forecast period due to growing cases of peripheral artery diseases and growing healthcare infrastructure in emerging countries like China and India. There is an increasing focus of key players on expanding their presence in Asia Pacific region.
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About Author
Alice Mutum, is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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