Market Overview
The Thailand Peripheral Vascular Devices Market is poised for significant growth, with the market expected to expand from USD 36.12 million in 2023 to USD 62.46 million by 2032, representing a compound annual growth rate (CAGR) of 7.08%. This growth is driven by an increasing prevalence of peripheral vascular diseases (PVDs), advancements in medical technology, and rising healthcare awareness in the region. The market is witnessing the introduction of innovative vascular devices that are more effective in treating conditions such as atherosclerosis and peripheral artery diseases (PAD). Additionally, the Thai government's focus on improving healthcare infrastructure and the availability of skilled healthcare professionals contribute to the expansion of this market. With a growing aging population and an increase in lifestyle diseases such as diabetes and hypertension, the demand for peripheral vascular devices is expected to rise significantly. Moreover, a greater emphasis on early diagnosis and non-invasive procedures is boosting the adoption of these devices in clinical and outpatient settings, supporting the growth trajectory of the market.
Market Drivers
1. Rising Incidence of Peripheral Vascular Diseases: The growing number of individuals suffering from peripheral vascular diseases such as PAD and atherosclerosis is a significant driver of the market. These conditions, often exacerbated by diabetes, smoking, and aging, are pushing the demand for specialized peripheral vascular devices designed for effective management and treatment.
2. Technological Advancements: Continued advancements in medical technologies are contributing to the demand for peripheral vascular devices. The development of more sophisticated devices, including angioplasty balloons, stents, and catheters, has significantly improved treatment outcomes, leading to greater adoption by healthcare providers across Thailand.
3. Government Healthcare Initiatives: The Thai government's focus on enhancing healthcare infrastructure and accessibility has played a crucial role in driving the demand for medical devices. With a concerted effort to provide affordable and accessible healthcare, more people are seeking treatment for vascular diseases, further promoting the market for peripheral vascular devices.
Want detailed insights into sustainability-focused market strategies? Click here for the full report.- https://www.credenceresearch.com/report/thailand-peripheral-vascular-devices-market
Market Trends
There has been a noticeable shift towards minimally invasive procedures, which use advanced peripheral vascular devices to treat conditions with less risk and faster recovery times. This trend is encouraging healthcare providers to adopt cutting-edge devices, leading to an increase in demand for these products. Additionally, there is a growing preference for outpatient treatments, reducing the burden on hospitals and enhancing patient convenience.
Market Challenges
Despite the technological advancements, the high cost of some peripheral vascular devices remains a challenge. These devices are often expensive due to the complexity of their design and manufacturing. The high cost can limit their accessibility in certain regions, particularly for low-income patients or in public healthcare settings, posing a barrier to widespread adoption.
Key Player Analysis
Explore competitive intelligence of top manufacturers: Access full market report. - https://www.credenceresearch.com/report/thailand-peripheral-vascular-devices-market
Segments:
Based on Type:
Based on End-user:
Based on the Geography:
Future Outlook
· Continued Market Growth: The Thailand Peripheral Vascular Devices Market is expected to maintain strong growth due to the rising prevalence of vascular diseases and increasing patient awareness.
· Expanding Healthcare Infrastructure: With ongoing improvements in healthcare infrastructure, especially in rural areas, more patients will have access to advanced treatment options, thereby boosting the market for vascular devices.
· Focus on Early Diagnosis: An increasing emphasis on early detection and diagnosis will drive the demand for diagnostic devices that aid in the identification of peripheral vascular conditions.
· Adoption of AI and Robotics: The integration of AI and robotics in vascular procedures will enhance the accuracy of treatments and improve patient outcomes, thereby supporting market expansion.
· Collaborations with Global Players: Collaboration between local manufacturers and global medical device companies will foster innovation and bring new, cost-effective solutions to the market.
· Aging Population: Thailand's aging population will continue to contribute to the market growth, as older adults are more prone to peripheral vascular diseases.
· Growing Focus on Non-Invasive Treatments: The increasing preference for non-invasive treatments, which offer faster recovery times, will likely fuel the demand for advanced peripheral vascular devices.
· Government Support for Healthcare Innovations: Government initiatives to promote healthcare technology adoption and innovation will support the growth of the market.
· Expansion of Private Healthcare: The growth of private healthcare facilities will provide more access to specialized treatment options, encouraging the use of advanced vascular devices.
· Regional Expansion: As market penetration increases in urban areas, expanding into rural regions will offer further growth opportunities.
📌 Interested in country-wise market projections and trends? Click here for the complete report.- https://www.credenceresearch.com/report/thailand-peripheral-vascular-devices-market
About Us –
Credence Research is a viable intelligence and market research platform that provides quantitative B2B research to more than 2000 clients worldwide and is built on the Give principle. The company is a market research and consulting firm serving governments, non-legislative associations, non-profit organizations, and various organizations worldwide. We help our clients improve their execution in a lasting way and understand their most imperative objectives.
Contact Us:
Tower C-1105 ,
S 25, Akash Tower,
Vishal Nahar, Pimple Nilakh,
Pune – 411027
Email: sales@credenceresearch.com
Web: www.credenceresearch.com/
11 February 2020 - The global Peripheral Vascular Device Market size was estimated at USD 5,888.5 million in 2014 and is expected to grow at a CAGR of 7.2% over the forecast period.
According to an estimate of Central Disease for Control and Prevention, about 8.5 million people in the U.S have peripheral artery disease including 12-20% of individuals ageing 60 years and above.
Rising chronic conditions including diabetes, obesity and end-stage renal disease is one of the crucial factors anticipated to boost demand for these devices.
However, the market growth is expected to negatively impact the market owing to factors such as reimbursement issues in developing countries, stringent regulatory policies, and presence of highly fragmented market.
Product Insights Based on the products, the market is segmented as peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, embolic protection devices, and inferior vena cava filters.
Peripheral angioplasty balloon catheters held significant market share owing to introduction of technological advance products like drug coated balloons and favorable reimbursement policies in developed countries like Germany and the U.S.
