PUBLISHER: The Business Research Company | PRODUCT CODE: 1426487
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426487
Chronic venous occlusion refers to the prolonged blockage or obstruction of veins, commonly occurring in the legs or arms, which can hinder blood flow and result in various health issues such as swelling, pain, and skin changes. Treatment aims to alleviate symptoms, slow down the disease's progression, and prevent complications.
The primary categories of products within chronic venous occlusion treatment include devices and drugs. Devices encompass instruments, apparatuses, machines, or implants utilized for prevention, diagnosis, or treatment. In chronic venous occlusion treatment, devices play a crucial role in restoring proper blood flow and enhancing overall venous health, contributing to the success of treatment outcomes. These applications span various conditions, including varicose veins, venous stasis ulcers, edema, deep vein thrombosis, and others. They are utilized by hospitals, clinics, ambulatory surgery centers, trauma centers, and other healthcare facilities.
The chronic venous occlusions treatment market research report is one of a series of new reports from The Business Research Company that provides chronic venous treatment market statistics, including chronic venous occlusions treatment industry global market size, regional shares, competitors with a chronic venous occlusions treatment market share, detailed chronic venous occlusions treatment market segments, market trends and opportunities, and any further data you may need to thrive in the chronic venous occlusions treatment industry. This chronic venous occlusions treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chronic venous occlusions treatment market size has grown strongly in recent years. It will grow from $6.23 billion in 2023 to $6.7 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The increase observed in the historical period can be attributed to investments in treatment innovation, a rise in the prevalence of venous disorders, improvements in awareness and diagnosis, initiatives in clinical trials and research, and enhancements in patient outcomes and quality of life.
The chronic venous occlusions treatment market size is expected to see strong growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to the increased awareness of venous disorders, a rising demand for minimally invasive procedures, the dynamics of an aging population, advancements in endovascular therapies, and a focus on patient-centric care. Prominent trends expected in the forecast period involve advancements in minimally invasive procedures, technological innovations in interventional radiology, a focus on endovascular therapies, the growing prevalence of venous disorders, and the rise in the aging population.
The anticipated rise in obesity cases is set to drive the growth of the chronic venous occlusion treatment market in the future. Obesity, characterized by an excessive accumulation of body fat leading to a body mass index (BMI) of 30 or higher, can be associated with symptoms such as edema and skin changes. Chronic venous occlusion treatment plays a crucial role in managing these symptoms by improving blood flow and reducing inflammation, contributing to effective obesity management. As reported in March 2023 by the World Heart Federation, around 2.3 billion adults and children globally were either obese or overweight. With the current obesity trend, it is projected that the number of individuals with obesity will reach 2.7 billion by 2025. Therefore, the increasing prevalence of obesity is a key factor propelling the growth of the chronic venous occlusion treatment market.
The growing adoption of minimally invasive procedures is expected to further fuel the growth of the chronic venous occlusion treatment market. Minimally invasive techniques involve medical and surgical procedures performed through small incisions or natural body openings, reducing the risk of complications such as infection, bleeding, and scarring. Given that patients with chronic venous occlusions often have underlying health issues, minimizing complications is crucial for their overall well-being. According to the International Society of Aesthetic Plastic Surgery in January 2023, there was a 19.3% overall increase in procedures performed by plastic surgeons globally in 2021, with over 12.8 million surgical and 17.5 million non-surgical procedures. Therefore, the growing adoption of minimally invasive procedures is a driving force behind the chronic venous occlusion treatment market's growth.
The high cost associated with chronic venous occlusion treatment is expected to pose a challenge to market growth during the forecast period. The substantial financial burden includes costs related to diagnosis and management of this medical condition, encompassing diagnostic procedures, medical devices, rehabilitation, and follow-up. As of March 2021, reluctance within the larger cardiology community to refer patients for percutaneous revascularization due to the perceived higher costs of complex procedures such as CTO PCI has been noted. This reluctance is attributed to a lack of appropriate knowledge about the potential clinical benefits. Therefore, the high cost of chronic venous occlusion treatment hampers the growth of the market.
Prominent companies in the chronic venous occlusion treatment market are strategically focusing on the development of minimally invasive devices, exemplified by innovations such as VenoValve, to gain a competitive edge. VenoValve, a minimally invasive device designed to prevent backward blood flow, was FDA-approved in August 2021. Hancock Jaffe Laboratories Inc., the developer of VenoValve, positions the device as a prosthetic valve implanted in deep leg veins to treat chronic venous occlusion. The device, acting as a one-way valve, is injected into the vein through a small incision in the thigh, and the procedure is typically performed under general anesthesia.
In December 2021, Becton, Dickinson, and Company (BD) acquired Venclose Inc., a medical technology company specializing in radiofrequency ablation (RFA) technologies for treating chronic venous occlusions. This strategic move is expected to expand BD's offerings in treating chronic venous insufficiency, providing physicians with innovative technologies for venous condition treatment.
Major companies operating in the chronic venous occlusions treatment market report are Cardinal Health Inc., Bayer AG, Sanofi S.A., 3M Company, Bristol-Myers Squibb Company, Medtronic PLC, Becton, Dickinson and Company (BD), Stryker Corporation, Boston Scientific Corporation, Terumo Corporation, Ethicon Inc., Philips Medical Systems, Teleflex Incorporated, Cook Group Incorporated, Merit Medical Systems Inc., Integer Holdings Corporation, Penumbra Inc., Inari Medical, Argon Medical Devices Inc., AngioDynamics Inc., Rontis Corporation, Endologix, Richard Wolf GmbH, SIGVARIS AG, enVVeno Medical Corporation, LimFlow SA
North America was the largest region in the chronic venous occlusions treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic venous occlusions treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the chronic venous occlusions treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The chronic venous occlusion treatment market consists of revenues earned by entities by providing services such as magnetic resonance imaging (MRI), fluoroscopy, computerized tomography (CT) scanning, anticoagulation therapy, and surgical intervention. The market value includes the value of related goods sold by the service provider or included within the service offering. The chronic venous occlusion treatment market also includes sales of anticoagulants, thrombolytic agents, pain relievers, and anti-inflammatory drugs. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Chronic Venous Occlusions Treatment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chronic venous occlusions treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chronic venous occlusions treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chronic venous occlusions treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.