Chronic Venous Occlusions Treatment Market - By Product (Devices {Compression Devices, Endogenous Ablation [Laser Ablation, Radiofrequency Ablation], Sclerotherapy, Vein-stripping}, Drugs), By Application, By End-Use & Forecast, 2022 - 2030
Published on: 2024-08-02 | No of Pages : 240 | Industry : Healthcare
Publisher : MIR | Format : PDF&Excel
Chronic Venous Occlusions Treatment Market - By Product (Devices {Compression Devices, Endogenous Ablation [Laser Ablation, Radiofrequency Ablation], Sclerotherapy, Vein-stripping}, Drugs), By Application, By End-Use & Forecast, 2022 - 2030
Chronic Venous Occlusions Treatment Market Size
Chronic Venous Occlusions Treatment Market was valued at over USD 5.5 billion in 2021 and is projected to witness significant growth at a 5.5% CAGR through 2030 primarily driven by the rising awareness about available treatment options for chronic venous occlusion.
Increasing awareness about the treatments accessible to patients as well as the growing prevalence of chronic illnesses associated with varicose veins are foreseen to fuel market expansion. A report by BMC Nursing Journal stated that the occurrences of varicose veins among adults were between 20% and 60% worldwide and is speculated to continue to grow steadily in the coming years. Additionally, several nations and industry participants are working on raising awareness of the various treatment and diagnoses for chronic illnesses like varicose veins and their related symptoms, thereby improving business prospects.
Report Attribute | Details |
---|---|
Base Year | 2021 |
Chronic Venous Occlusions Treatment Market Size in 2021 | 5.5 Billion (USD) |
Forecast Period | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR | 5.5 % |
2030 Value Projection | 9.5 Billion (USD) |
Historical Data for | 2017 to 2021 |
No. of Pages | 271 |
Tables, Charts & Figures | 355 |
Segments covered | Product, Application, End-use, and Region. |
Growth Drivers |
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Pitfalls & Challenges |
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Stringent regulatory framework may impede market statistics
Rules governing chronic venous occlusions treatment have slowed the market's progress. The U.S. FDA (Food and Drug Administration) regulates the operating procedures as well as the drugs used in the treatment. For instance, phlebotonics, which are essential medications for the diagnosis of chronic venous insufficiency and help minimize ankle swelling and accelerate the healing of leg ulcers, have not yet received government approval in the U.S. However, surging awareness and favorable government programs for lower extremity disorders are likely to sustain market development.
Chronic Venous Occlusions Treatment Market Analysis
As per product, the chronic venous occlusions treatment market is classified into devices and drugs. The drugs segment is projected to exceed USD 4.6 billion by 2030. Various drugs are utilized in the diagnosis and therapy, including analgesics, antibiotics, anticoagulants, and so on. Antibiotics are highly preferred to treat ulcers and skin infections brought on by chronic venous insufficiency. Rising demand and increased knowledge of the extensive benefits of drugs for treating chronic venous insufficiency are majorly credited for the projected segment growth.
The chronic venous occlusions treatment market from the edema application segment is expected to surpass a valuation of USD 2.6 billion by 2030. In 2021, a report in the PLOS Global Public Health Journal reported the prevalence of edema in around 19% of the American geriatric population. The mounting prominence of the numerous advantages offered by the available treatment options for chronic venous occlusion in the diagnosis and treatment of edema is expected to accelerate market trends.
The industry is segregated in terms of end-use into hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers segment accounted for 22% of the chronic venous occlusions treatment market revenue in 2021 and is expected to observe robust development over 2022-2030 due to the increasing consumer preference for ASCs for outpatient surgical procedures, quality care, cost-effectiveness, and shorter stays. The inclusion of novel treatment devices for venous ulcers, edema, DVT, and other conditions, and access to various treatments, are anticipated to foster segment value.
Asia Pacific chronic venous occlusions treatment market is forecast to depict a 6.5% CAGR from 2022 to 2030. Escalating occurrences of varicose veins among adults and early diagnosis of chronic venous illnesses are enhancing product penetration, thereby supplementing APAC industry growth. In 2021, Zee News reports estimated that around 10 million Indians have varicose veins. Moreover, facilitative initiatives by government agencies and NGOs are slated to fuel the industry expansion in APAC.
Chronic Venous Occlusions Treatment Market Share
The chronic venous occlusions treatment market includes
- Manufacturers viz.
- Stryker Corporation
- Bristol Myers Squibb
- Boston Scientific Corporation
- Sanofi
- Bayer AG
- Medtronic plc
- Pfizer Inc.
- Tactile Medical
- Julius Zorn GmbH
- Smith & Nephew PLC
- Viatris Inc.
- Merz Pharma
- Candela
- Sciton, Inc
- Fotona
- 3M Company
- ConvaTec Inc.
- Medi GmbH & Co. KG
- Sigvaris AG
- Leucadia Pharmaceuticals (Hikma)
- Lumenis Ltd.
- Venclose, Inc. (Becton Dickinson and Company)
Impact of COVID-19 Pandemic
The initial phase of the COVID-19 pandemic adversely affected the chronic venous occlusions treatment industry. Several lower extremity procedures, such as venous insufficiency, varicose veins, DVT, and so forth, witnessed a considerable drop. Rising mortality and morbidity rates altered priorities and preferences for COVID-19-positive patients and treatment schedules were created in accordance with the medical circumstances. However, the declining COVID-19 cases as well as rising procedure volume are set to boost global market expansion in the upcoming period.
The chronic venous occlusions treatment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2030 for the following segments
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By Product
- Devices
- Compression Devices
- Endovenous Ablation
- Laser Ablation
- Radiofrequency Ablation
- Sclerotherapy
- Vein stripper
- Others
- Drugs
- Analgesics
- Antibiotics
- Anticoagulants
- Others
By Application
- Varicose Veins
- Venous Stasis Ulcers
- Edema
- Deep Vein Thrombosis
- Others
By End-use
- Hospitals
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE