Houston, Texas, April 13, 2023 (GLOBE NEWSWIRE) -- Market Overview
A series of diseases in which there is an issue with blood flow in the veins in the legs are collectively referred to as a venous disease, sometimes known as venous insufficiency. Leg veins feature valves that enable blood to return to the heart by rising against gravity. In the case that these valves are weak or damaged, blood will pool in the veins and flow back into the legs. This may result in a single or several venous disorders. These alternatives might range from making lifestyle modifications like wearing compression stockings to the most recent minimally invasive procedures or surgery, depending on the condition and severity of the symptoms.
Market Size Growth Rate:
According to the DataM market research report, the global Venous diseases treatment Market size was valued at US$ billion in 2022; it is projected to reach US$ 10.07 billion by 2030, with growth at a CAGR of 6.5% over the forecast period 2023-2030.
The market for treating venous disorders is being driven by the ageing population, the availability of advance technology, and worldwide technological advancements. The market is also being driven by the increased knowledge of venous disorders and related treatments.
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Market Drivers:
The aging are most likely to have venous illnesses, and an increase in the elderly population is expected to uplift the market. For instance, according to WHO 2022, globally, people are living longer. Currently, the majority of people may anticipate living into their 60s and beyond. The number of older people and their share of the population are increasing in every nation on earth.
One in six people worldwide will be 60 years age or older by 2030. At this point, there will be roughly 1.5 billion people, up from 1 billion in 2020, who are 60 or older. The number of individuals in the globe who are 60 or older will double by 2050. Between 2020 and 2050, the number of people 80 or older is projected to triple, reaching 400 million. To make sure that their social and health systems are ready to benefit from this demographic transformation, all nations must overcome significant obstacles. In low- and middle-income nations in 2050, 82% of elderly people will live.
Market Restraints:
The market for treating venous diseases is severely constrained by the lack of qualified experts. Due to an increase in venous disease cases around the world, there is a greater need for venous disease treatment, but the market is being constrained by a lack of skilled professionals in the health sector.
Market Opportunities:
Venous disorders can be treated with medical procedures as well as dietary and lifestyle modifications. Compression stockings, exercise, and medicine can all help the veins, but sometimes more intensive treatment is required to get the veins back to normal health and function. The kind and severity of the venous disease affect the course of treatment. Over the past few decades, the number of patients with vascular problems has drastically increased, with diabetes serving as the most obvious risk factor. Unlike to other health issues, 80% of people are unaware about vascular illnesses and vascular surgery. As a result of greater health awareness, people's attitudes and behaviors about particular illnesses can alter considerably. The growing awareness of venous disorders is projected to be favorable for the expanding market for treating venous diseases.
COVID-19 Impact Analysis:
The COVID-19 epidemic is anticipated to have a substantial influence on the market since healthcare professionals' attention is now focused on treating COVID-19-infected patients. As a result, non-emergency medical illnesses received less attention. Direct human contact limitations and social estrangement have limited patient access to care. In the pandemic, it was difficult for patients with venous and lymphatic problems or vascular anomalies to receive professional care. Moreover, there is mounting evidence that patient with COVID-19, severe coagulopathies, and both arterial and venous thromboembolic (VTE) illness are more difficult to diagnose. More patients requiring venous treatment can now easily get the right care as the COVID-19 situation improves, boosting demand.
Recent Developments in the Industry:
- On December 02, 2021, a prominent manufacturer of medical technology, BD announced the acquisition of Venclose, Inc., a company that offers treatments for the condition known as chronic venous insufficiency (CVI), which is brought on by damaged valves and can result in varicose veins.
- In April 2022, Carl Zeiss Meditec has disclosed that it will buy two manufacturers of surgical equipment (Kogent Surgical, LLC and Katalyst Surgical, LLC). The company's business expansion has benefited from it now.
- In December 2021, The American medical technology company Vesper Medical Inc., which is acquired by Royal Philips, a global leader in health technology, develops minimally invasive peripheral vascular devices. Vesper Medical's addition of an advanced venous stent portfolio for the treatment of deep venous sickness would broaden Philips' variety of diagnostic and therapeutic devices.
Market Segmentation:
As per the research analysis, the global venous diseases treatment market is segmented by treatment type into surgeries, sclerotherapy, angioplasty or stenting, vein ligation and stripping, vena cava filter, ambulatory phlebectomy, radiofrequency ablation therapy, laser treatment and others therapies, by disease type into deep-vein thrombophlebitis, varicose and spider veins, superficial thrombophlebitis, chronic venous insufficiency, venous ulcers and others, by product type into ablation devices, venous stents, venous closure products, sclerotherapy injection and others and by end user into hospitals, clinics, ambulatory centers and others.
- Based on disease type, the deep-vein thrombophlebitis segment is estimated to hold a significant market share in the forecast period (2023-2030). Deep-vein Thrombophlebitis (DVT) is becoming more common, which fuels the segment's growth. For instance, according to National Blood Clot Alliance, the chance of having DVT is roughly 1 in 1000 every year, although there are some variables that significantly enhance this risk. The lifetime cumulative risk of having DVT varies from 2 to 5 percent. The likelihood of having DVT is roughly 1 in 1000 every year, although there are some variables that significantly enhance this risk. DVT is more unlikely to occur in younger people than in older ones. Between 3% and 6% of people will get DVT in their lives. DVT can happen spontaneously, but it can also be brought on by other illnesses (including cancer, surgery, and bed rest). A risk to thrombosis or thrombophilia may be inherited or acquired in 25 to 43% of patients who have spontaneous DVT. In the US, there are thought to be 300,000 new cases of DVT each year.
Geographical Classification:
The global agricultural micronutrientmarket is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.
North America Venous diseases treatment Market:
The well-developed healthcare systems in nations like the U.S., the existence of significant players, and various strategies adopted by the key market players for market expansion such as product launch, merger and acquisition, collaboration, and among other anticipated to boost the market in the region are the main factors driving the growth of the venous diseases treatment market in North America. For instance, In October 2021, Venclose Inc., a privately held medical device firm in Silicon Valley that specializes in cutting-edge therapies for venous reflux disease, got FDA 510(k) clearance for Venclose Maven. A new radiofrequency ablation (RFA) device called Venclose Maven allows for the least invasive treatment of ineffective perforator veins (IPVs).
Europe Venous diseases treatment Market:
Europe is expected to have significant growth in the years to come as a result of its ageing population, rising disposable income, and expanding awareness of these operations. The market is much diversified because of the numerous regulatory considerations that influence how easily available particular products are in different countries.
Asia Pacific Venous diseases treatment Market:
The Asia-Pacific market is being driven by technological developments in vascular stents, an increase in demand for less invasive procedures, and an increase in the population of elderly people. Also, the businesses are diversifying their product lines to provide the greatest venous disease treatment services. In minimally invasive procedures, medical equipment like ablation devices is used to excise or eliminate aberrant bodily tissues for therapeutic purposes.
Competitive Analysis:
There are numerous international, regional and local suppliers in the global venous diseases treatment industry. The competition in the local market is fierce. The vendors compete based on price, product quality, dependability and aftermarket services. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.
Major Companies:
Major Key companies working towards the market's growth include Biolitec AG, Alma Lasers, B. Braun Melsungen Ag, Teleflex Incorporated, Medtronic plc, Abbott Laboratories, BD, Koninklijke Philips, Lumenis, Boston Scientific Corporation and others.
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1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
- Visualize the composition of the global venous diseases treatment market segmentation by treatment type, disease type, product type, end user and region, highlighting the key commercial assets and players.
- By Treatment type: Surgeries, Sclerotherapy, Angioplasty/stenting, Vein ligation and Stripping, Vena cava filter, Ambulatory phlebectomy, Radiofrequency ablation therapy, Laser treatment and others therapies.
- By Disease type: Deep-vein thrombophlebitis, Varicose and Spider veins, Superficial thrombophlebitis, Chronic venous insufficiency, Venous ulcers and others.
- By Product type: Ablation devices, Venous stents, Venous closure products, Sclerotherapy injection and others.
- By End user: Hospitals, Clinics, Ambulatory centers and others.
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global venous diseases treatment market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
- Excel data sheet with thousands of data points of global venous diseases treatment Market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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