Wilmington, Delaware, United States, July 24, 2023 (GLOBE NEWSWIRE) -- The global critical limb ischemia treatment market is anticipated to grow at 8.03 % CAGR from 2023 to 2031. A market valuation of US$ 3.49 billion by 2031.
The demand for critical limb ischemia therapeutics is expected to rise due to increasing prevalence of hyperlipidemia, resulting from elevated cholesterol levels leading to narrowed or obstructed arteries. The market is experiencing a surge in growth due to the rising occurrences of various associated risk factors like smoking, sedentary lifestyles, high blood pressure, obesity, and others.
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The market outlook is becoming increasingly optimistic due to the growing popularity of effective medications like beta-blockers, antiplatelet drugs, and statins. These medications play a vital role in preventing clots, regulating cholesterol levels, reducing blood pressure, and enhancing blood flow. The widespread adoption of the pedal-plantar loop technique for percutaneous revascularization of foot arteries is contributing significantly to market growth. This technique facilitates improved inflow and outflow from both posterior and anterior tibial vessels, further reinforcing the positive trends in the market.
The increasing use of intermittent pneumatic compression devices and stem cell-based therapy is driving growth in the market. These therapies offer pain reduction, improved healing rates, physical function, and enhanced quality of life for patients who are unsuitable for amputation, contributing to the market's positive outlook in the upcoming years.
Key Takeaways from the Market Report
- The global critical limb ischemia treatment market is expected to be worth US$ 1.88 billion as of 2023.
- From 2023 to 2031, the market is estimated to grow with a CAGR of 8.03%.
- In terms of treatment, devices are expected to dominate the market and generate sales with a CAGR of 9.7% during the forecast period.
- In medication segment, the antiplatelet sub segment is expected to dominate the market by growing at a CAGR of 10.2% during the forecast period.
- As per TMR projections, the demand for critical limb ischemia treatment in the United States is expected to grow at a CAGR of 7.9% throughout the forecast period.
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Critical Limb Ischemia Treatment Market: Growth Drivers & Trends
- Growing prevalence of diabetes and other risk factors drives market growth for critical limb ischemia treatments.
- Increasing demand for endovascular therapies for the treatment of critical limb ischemia is expected to fuel market expansion.
- Advancements in technology in the field of critical limb ischemia treatment are anticipated to drive market growth.
- Rising awareness about critical limb ischemia and its treatments is expected to bode well for market.
- Growing number of clinical studies on new therapies for the treatment of critical limb ischemia is anticipated to drive market growth.
Critical Limb Ischemia Treatment Market: Regional Analysis
- North America is anticipated to lead the market in 2023 by accumulating over 35.4% market share in 2023. The demand for critical limb ischemia treatment is expected to rise with a CAGR of 7.8% during the forecast period.
- This dominance can be attributed to increased government initiatives, awareness about critical limb ischemia and related disorders, higher healthcare expenditure, rising disposable income, and the availability of advanced medical devices. The United States alone accounts for approximately 2 million to 3 million cases of critical limb ischemia, as per recent studies.
- The market in Asia Pacific is expected to grow with a CAGR of 8% during the forecast period. Factors driving this growth include the increasing prevalence of critical limb ischemia in countries like India and China, a growing elderly population, higher healthcare expenditure, and government initiatives.
- The large population, unmet medical needs, and rising patient awareness are also anticipated to boost market growth in the region. Furthermore, economic growth in emerging economies like India and China is enhancing consumers' purchasing power due to increased disposable income, further contributing to the market's expansion in these countries in the near future.
Critical Limb Ischemia Treatment Market: Prominent Players
The global market for critical limb ischemia treatment is characterized by several regional and global entities. Some key critical limb ischemia treatment providers profiled by TMR include:
- Boston Scientific Corporation
- Cesca Therapeutics Inc.
- Abbott Laboratories
- Pluristem Therapeutics Inc.
- Rexgenero Ltd
- LimFlow SA
- Micro Medical Solutions
- Cardiovascular Systems Inc.
Prominent developments in the critical limb ischemia treatment market domain by key players are as follows:
- In June 2022, Royal Philips released the latest results from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial.
- In June 2022, Cordis, a cardiovascular technology pioneer, introduced the Radianz Radial Peripheral System for human use.
- In March 2022, LimFlow successfully enrolled participants in the PROMISE II U.S. pivotal trial for their groundbreaking device aimed at preventing amputations in patients with chronic limb-threatening ischemia who have exhausted all other treatment options.
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Critical Limb Ischemia Treatment Market- Key Segments
- Treatment
- Medication
- Antiplatelet Drugs
- Antihypertensive Agents
- Lipid-lowering Agents
- Antithrombotic Agents
- Others
- Devices
- Embolic Protection Devices
- Peripheral Dilatation System
- Balloon Dilators
- Vascular Stents
- Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Medication
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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