According to the study “Brazil Peripheral Vascular Devices Market Outlook to 2025”, the rising prevalence of peripheral vascular disorders, diabetes and obesity in the Brazilians has led to a huge demand for stent implants. The increasing consumption of junk food and smoking has increased the risk of stroke due to formation of atherosclerotic plaques with high calcification in peripheral blood vessels. The advanced technology in stents has assisted in overcoming in-stent restenosis complications due to neointima hyperplasia and neovascularization at the site of implant. These factors are responsible for the growth in market penetration of stents utilized for treatment of peripheral vascular diseases.
Peripheral vascular disease is a condition in a human body that determines a damage or blockage in the peripheral blood vessels. It can also cause blood clots such as deep vein thrombosis, inflammation, or narrowing and blockage of the blood vessels. The various devices used for the treatment of peripheral vascular diseases are Aortic Stent Grafts, Arteriotomy Closure Devices, Carotid and Renal Artery Stents, Inferior Vena Cava Filters (IVCF), Peripheral Embolic Protection Devices, Peripheral Guidewires, Peripheral Vascular Stents, PTA Balloons Catheters, PTA Peripheral Drug Eluting Balloons (DEB) Catheters, Renal Denervation Catheters, Tip Location Devices and Vascular Grafts.
The increasing incidences of peripheral vascular disease among the Brazil population are driving the peripheral vascular devices market. The peripheral vascular devices market is highly fragmented due to multiple players. The leading players in Brazil’s peripheral vascular devices are Medtronic plc, Abbott Laboratories, Boston Scientific Corp. and others.
With the ongoing development in sophisticated healthcare infrastructure, health awareness, increase in healthcare expenditure and increasing R&D pertaining to drug discovery and development are few factors accounting for the growth in Brazil’s peripheral vascular devices market. Modernization and increasing aged population in Brazil has increased the rate of peripheral vascular diseases. In addition, the presence of untapped growth opportunities in Brazil has increased health awareness which boosted the growth in the peripheral vascular devices market. The latest market trend is the increasing use of bio-absorbable stents in the treatment of peripheral vascular disease.
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Ankur Gupta, Head Marketing & Communications