This blog is based on the recent Frost & Sullivan analysis “Peripheral Vascular Devices Industry, Global, 2024–2029,” authored by Utkarsha Kaustubh Soundankar, Industry Analyst, Healthcare & Life Sciences Practice.
The global peripheral vascular devices market is on the brink of a major transformation. Forecasted to grow from $4.33 billion in 2024 to $6.06 billion by 2029 at a CAGR of 6.9%, this market is driven by increasing demand for minimally invasive procedures, rising clinical validation of next-gen devices, and growing investments in drug-eluting and bioresorbable technologies. With over 200 million people worldwide affected by peripheral artery disease (PAD) — many of them undiagnosed — the opportunity for innovation and impact is immense.
Stay ahead of the curve in vascular intervention. Explore global megatrends, disruptive technologies, and growth opportunities through 2029.
Key Growth Drivers
- Rise of Drug-eluting Stents and Balloons
Drug-eluting technologies are replacing bare metal stents and PTA (percutaneous transluminal angioplasty) balloons due to their improved long-term efficacy and reduced rates of restenosis. Companies are focusing on:
- Drug-eluting stents (DES): Release medication to prevent artery re-narrowing.
- Drug-coated balloons (DCB): Minimize restenosis while maintaining arterial patency without leaving a permanent implant.
These solutions are gaining traction, particularly in challenging cases like below-the-knee (BTK) interventions and chronic limb-threatening ischemia (CLTI).
How are drug-eluting technologies transforming long-term outcomes for patients with PAD compared to traditional methods?
- Bioresorbable Scaffolds: The Next Frontier
Bioresorbable scaffolds naturally dissolve after restoring blood flow, overcoming the limitations of permanent implants. Key developments include:
- Abbott’s Esprit BTK, approved by the US Food and Drug Administration (FDA) in 2024, showed 90% reintervention-free survival at 2 years.
- R3 Vascular’s MAGNITUDE scaffold, supported by an $87 million Series B funding and investigational device exemption (IDE) approval, began enrolling patients in 2025 for BTK PAD treatment.
These technologies are critical for patients with comorbidities, calcified lesions, or smaller vessel calibers.
Could dissolving scaffolds become the new gold standard in treating complex vascular lesions below the knee?
Industry-shaping Forces Redefining Peripheral Vascular Innovation
- Minimally Invasive and Endovascular Adoption
The shift toward minimally invasive endovascular procedures is a dominant megatrend. Benefits include:
- Faster patient recovery
- Fewer complications
- Reduced hospital stays
The increasing adoption of stents and balloon catheters in ambulatory surgical centers is a strong signal of market maturity and scalability.
With rising outpatient procedures, how are ambulatory surgical centers reshaping patient access and care models in vascular treatment?
- Technological Disruption and Imaging Advances
Leading MedTech firms are investing heavily in advanced materials, polymers, and coatings for better safety and efficacy. Innovations also include:
- Optical coherence tomography (OCT) for precise stent placement
- Robotic-assisted surgeries for enhanced precision
- Next-gen interventional imaging tools to guide complex procedures
These innovations enable more targeted treatments and support clinical adoption.
What role will robotics, AI, and real-time imaging play in the future of peripheral interventions?
Competitive Landscape
The market is highly competitive, with 30+ companies generating over $1 million in revenue. The top six players –Boston Scientific, Abbott, BD, Medtronic, Terumo, and MicroPort – account for 75% of revenue share, yet smaller companies are actively disrupting the space.
Key Competitive Moves:
- Abbott: Released long-term data for Esprit BTK in 2024; FDA approval in April 2024.
- R3 Vascular: Launched pivotal ELITE-BTK trial for MAGNITUDE scaffold.
- Medinol: First human implantation of the ChampioNIR drug-eluting peripheral stent in Australia, October 2024.
Can emerging players challenge dominant MedTech giants through focused innovation in niche segments like CLTI and BTK disease?
Growth Opportunities
- Optimizing Bioresorbable Scaffolds for BTK
While promising, current bioresorbable scaffolds face challenges like:
- Lower radial strength
- Thicker struts
- Material limitations
The industry is focused on developing scaffolds with balanced resorption time, strength, and drug delivery to meet BTK PAD demands.
- Expanding Drug-eluting Options for CLTI
CLTI represents the most severe form of PAD, often requiring revascularization to prevent limb loss. Innovations must address:
- Smaller vessels
- Diffuse and calcified lesions
- Comorbidities such as diabetes and renal impairment
There is a growing need for head-to-head clinical comparisons between DCBs and DES to establish gold standards in CLTI treatment.
Which innovation holds the greatest untapped potential for transforming PAD treatment?
Market Challenges
Despite strong growth potential, several barriers exist:
- Low disease awareness and screening, especially in primary care
- Availability of multiple treatment options, including lifestyle and medication-based approaches
- Regulatory complexity across regions
- High R&D costs and time-consuming clinical trials
Addressing these challenges will require industry-wide collaboration, education, and policy support.
How can the industry overcome low disease awareness and increase PAD screening in underserved populations?
A New Era in Peripheral Vascular Innovation
The peripheral vascular devices market is entering a new era of innovation and opportunity. Fueled by drug-eluting technologies, bioresorbable scaffolds, and minimally invasive surgical advancements, the industry is poised for substantial growth through 2029. Key players and emerging innovators alike must focus on clinical outcomes, patient-centric solutions, and cost-effective care delivery to lead in this dynamic market.
As stakeholders continue to invest in next-generation technologies and clinical validation, the future of peripheral artery disease treatment looks more promising than ever.
Are we entering a new era where peripheral vascular disease can be managed as precisely and proactively as coronary disease?
Let’s Talk
Is your company prepared to compete in the next generation of vascular care? Stay ahead of market dynamics and tap into growth opportunities with deep strategic insights.
Contact us today at hello@frost.com to learn how your organization can lead the future of the peripheral vascular devices market.
