The critical limb ischemia treatment market studied was projected to grow with a CAGR of nearly 8.3% over the forecast period. The major factor attributing to the growth of the market is the increasing prevalence of critical limb ischemia. The key factors responsible for critical limb ischemia disease are increasing geriatric population, who are more vulnerable to the development of these conditions, and others include diabetes, obesity, sedentary lifestyle, smoking, and increased blood pressure. Untreated critical limb ischemia can lead to amputation of the specific limb. The growing incidence of critical limb ischemia is anticipated to drive the demand for its treatment, which, in line, is projected to propel the growth of the critical limb ischemia treatment market globally. Furthermore, the growing investments in research and development programs by the medical devices and pharmaceutical companies are boosting the market growth. However, drug failure and drug recalls are the major drawbacks for market growth.
Key Market Trends
Medications Segment is expected to Grow at a Faster Rate over the Forecast Period
- The medications segment of the critical limb ischemia treatment market includes antihypertensive agents, antiplatelet drugs, antithrombotic agents, lipid-lowering agents, and others.
- In critical limb ischemia patients who are not flexible for surgical or endovascular revascularization or patients with whom revascularisation attempts have been ineffective, medication is the only way to reduce the pain and treat the patients. Several studies have shown that medication reduced ischaemic rest pain, ulcer size and the need for amputation.
- As the geriatric population increases the patient pool also increases which in turn boosts the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall critical limb ischemia (CIL) treatment market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of CIL patients in the region, established healthcare infrastructure, and availability of branded drugs are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. The United States holds the largest share of the market. The United States has a unique healthcare system among developed countries. However, the cost of hospitals is very high in the country; the government or private insurance covers it. The rising prevalence of CIL and the increasing geriatric population in the country are the prime factors responsible for the growth of the market in the country.
Competitive Landscape
The critical limb ischemia treatment market is moderately competitive and consists of several major players. Some of the companies which are currently domianting the market are Medtronic plc, Abbott Laboratories, Pluristem Therapeutics, Inc., Rexgenero Ltd., LimFlow SA, Micro Medical Solutions, and Cardiovascular Systems, Inc., Cesca Therapeutics, Inc.
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