Global Critical Limb Ischemia Treatment Market to Reach US$ 2,827.32 Mn by 2027: Increase in Incidence of Critical Limb Ischemia to Drive Market: Transparency Market Research
Transparency Market Research (TMR) has published a new report titled, “Critical Limb Ischemia Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.” According to the report, the global critical limb ischemia treatment market was valued at US$ 1,523.50 Mn in 2018 and is projected to expand at a high CAGR of 7.4% from 2019 to 2027. Rise in prevalence of critical limb ischemia across the world is anticipated to drive the global market during the forecast period.
North America is projected to dominate the global critical limb ischemia treatment market during the forecast period. The market in the region is driven by increase in government initiatives and awareness about CLI and other risk associated disorders. The market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. The critical limb ischemia treatment market in North America is expected to expand at a moderate CAGR during the forecast period. The critical limb ischemia treatment market in Latin America is likely to grow at a sluggish pace from 2019 to 2027.
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Increase in Preference for Revascularization as Treatment Option to Drive Devices Segment
In terms of treatment, the devices segment is projected to account for dominant share of the global critical limb ischemia treatment market during the forecast period. The segment is anticipated to expand at a high CAGR from 2018 to 2026. Dominance of the segment is attributed to increase in patient preference for revascularization as the first line of treatment. The medications segment held major share of the market in 2018, followed by the devices segment, due to increase in acceptance and availability of antiplatelet drugs, lipid-lowering agents, and other medications.
Peripheral Dilatation Systems Sub-segment Dominated the Devices Segment
The report offers detailed segmentation of the global critical limb ischemia treatment market. The devices segment has been classified into embolic protection devices and peripheral dilatation systems. The peripheral dilatation systems sub-segment is projected to account for leading share of the segment during the forecast period. Higher share of the segment is attributed to increasing use of balloon dilators and vascular stents in the treatment of CLI. According to recent study, around 2 million to 3 million people suffer from critical limb ischemia in the U.S.
High Preference for Antiplatelet Drugs to Treat Critical Limb Ischemia
The antiplatelet drugs sub-segment accounted for leading share of the medications segment in 2018. The sub-segment is projected to lose market share from 2019 to 2027. The sub-segment is anticipated to expand at a CAGR of 7.8% during the forecast period. Antiplatelet drugs are most widely used in the treatment of critical limb ischemia and easily available in retail stores. Additionally, major pharmaceutical manufacturers focus on the development of new antiplatelet drugs for treatment of critical limb ischemia. This is likely to fuel the growth of the sub-segment during the forecast period. Lipid-lowering agents was a major sub-segment of the medications segment in 2018, followed by the antiplatelet drugs sub-segment.
Asia Pacific to be Highly Lucrative Market
The critical limb ischemia treatment market in Asia Pacific is driven by rise in prevalence of CLI in countries such as India and China, increase in geriatric population, surge in health care spending, and government initiatives. High population, unmet medical needs, and rise in patient awareness are also anticipated to propel the market in the region. Economic growth in emerging economies such as India and China is enhancing the buying capabilities of consumers due to an increase in disposable income. This is likely to augment the market in these countries in the near future.
Trend of Strategic Alliance with Local Companies to Strengthen Distribution Network and Expand Geographic Presence
The global critical limb ischemia treatment market is fragmented, owing to the presence of several small and large companies. However, the market is dominated by a few major players with strong global presence. The report provides profiles of leading players operating in the global critical limb ischemia treatment market. Key players in the market include Medtronic plc, Boston Scientific Corporation, Cesca Therapeutics Inc., Abbott Laboratories, Pluristem Therapeutics Inc., Rexgenero Ltd, LimFlow SA, Micro Medical Solutions, and Cardiovascular Systems, Inc.
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