The Global Deep Venous Disease Treatment Devices Market Size is valued at 1.31 billion in 2023 and is predicted to reach 2.22 billion by the year 2031 at a 6.87% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The rising prevalence of deep vein diseases acts as a primary driver for the demand for treatment devices. Factors such as lifestyle changes, an ageing population, and predisposing factors like obesity contribute to the rising incidence of these conditions, increasing the need for effective medical interventions and driving the market for treatment devices.
- Continuous advancements in vascular stent technologies are a significant driver of deep venous disease treatment device market growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- Device for the Treatment of Deep Venous Disease The market encounters obstacles such as fierce rivalry, swiftly advancing technology, and the necessity to adjust to shifting market demands.
Vein-related illnesses are conditions that damage the body's veins. One of the most prevalent disorders brought on by harmed vessel walls and valves is varicose veins. According to an article in the Journal of the American Heart Association, around 23% of adults in the United States have varicose veins. Venous reflux disease is treated using a variety of techniques, including ablation, sclerotherapy injection, ligation or stripping, and supportive care.
The market is driven by elements such as the rise in deep vein disease incidence, which increases the demand for treatment devices. The rise in deep venous disease diagnoses in hospitals, which increases the need for preventative devices, and the rise in deep venous disease awareness drives the development of deep venous disease devices in the market.
However, producers and consumers have suffered due to the pandemic. The number of treatments substantially decreased since varicose vein surgeries are not urgent. A decrease also influenced the revenue streams of the manufacturers in varicose vein surgeries or procedures due to limitations on travel. Manufacturers are taking several strategic actions to recover from COVID-19. To enhance the technology and test findings associated with the pet food flavors and ingredients market, the players are engaging in several R&D activities, product launches, and strategic collaborations.
Competitive Landscape:
Some of the Deep Venous Disease Treatment Devices market players are:
- Abbott Laboratories
- AndraTec GmbH
- AngioDynamics, Inc.
- Boston Scientific Corporation
- Cardinal Health
- Cook Group
- Innova Vascular, Inc.
- Koninklijke Philips N.V.
- Medtronic plc
- Nipro Corporation
- Penumbra, Inc.
- Stryker Corporation
- Surmodics, Inc. (Vetex Medical Ltd.)
- Teleflex Incorporated
- Terumo Corporation
Market Segmentation:
The Deep Venous, Disease Treatment Devices market, is segmented based on products and End-user. Product segment includes Thrombectomy and Thrombolysis Devices, Inferior Vena Cava (IVC) Filters, Peripheral Vascular Stents, PTA Balloon Catheters, Accessory Devices, and Compression Devices/Stockings. By End-User, the market is segmented into Hospitals and Clinics, Ambulatory Surgical Centers, and Homecare.
Based On Product, The Accessory Segment Is Accounted As A Major Contributor In The Deep Venous Disease Treatment Devices Market
During the projected period, the growing elderly population and the rising prevalence of cardiovascular disorders are anticipated to be the key drivers of the accessory device segment's growth. Cardiovascular illnesses are more prone to strike the elderly population. Over 20.8% of the European population was 65 years or older, according to Ageing Europe Statistics, 2021. Between 2021 and 2100, it is predicted that the proportion of Europeans 80 years of age or older will rise from 6.0% to 14.6%, a two-and-a-half-fold increase. Additionally, the growing desire for minimally invasive procedures will probably fuel market expansion. For instance, a minimally invasive procedure called cardiac catheterization uses thin, elastic tubes called catheters to direct them via blood vessels to the problematic areas to identify and treat several heart and vascular disorders, including May-Thurner syndrome.
Hospital And Clinic Segment Witness Growth At A Rapid Rate
Due to a growth in hospitals and surgery centers, which was the largest contributor depending on end-user in 2023, is anticipated to keep up its dominance during the projected period. However, because ambulatory surgery centers are more affordable than traditional hospitals, this market segment is predicted to develop significantly during the forecast period.
In The Region, The North America Deep Venous Disease Treatment Devices Market Holds A Significant Revenue Share
North America held a share of revenue of approximately 45.0%, dominating the market in 2023. This is mostly caused by a sizable patient population that values appearance. Due to the obvious results and safety, many are eager to undergo cosmetic operations. The proof of the safety and effectiveness of laser therapy has contributed to lowering the stigma associated with cosmetic procedures and fostering societal acceptance of laser treatments, particularly among males. The region with the quickest growth is anticipated to be Asia Pacific. Due to its huge aging population, growing disposable money, and growing knowledge of these procedures, the Asia Pacific region is anticipated to have significant growth in the years to come. Because of the various legislative considerations that affect product availability between nations, the market is extremely diversified.
Recent Developments:
- In January 2024, Penumbra, Inc., a thrombectomy company, obtained CE Mark for its Indigo System CAT RX, designed to overcome limitations of traditional strategies in acute coronary syndrome treatment. Unlike syringe aspiration, which loses vacuum when fluid enters the system, CAT RX, now available in Europe, navigates tortuous coronary anatomy while sustaining mechanical aspiration with the Penumbra ENGINE.
- In April 2023, Abbott purchased Cardiovascular Systems, Inc. (CSI), a medical devices company that possessed cutting-edge solutions for addressing intricate artery problems, which affected a significant number of individuals. CSI's primary emphasis was on developing systems that targeted the treatment of coronary and peripheral artery disease, conditions that impacted approximately 20 million and 8 million individuals in the United States, respectively.
Deep Venous Disease Treatment Devices Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 1.31 Bn |
|
Revenue forecast in 2031 |
USD 2.22Bn |
|
Growth rate CAGR |
CAGR of 6.87% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Products, End-user |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Abbott Laboratories, AndraTec GmbH, AngioDynamics, Inc., Boston Scientific Corporation, Cardinal Health, Cook Group, Innova Vascular, Inc., Koninklijke Philips N.V., Medtronic plc, Nipro Corporation, Penumbra, Inc., Stryker Corporation, Surmodics, Inc. (Vetex Medical Ltd.), Teleflex Incorporated, and Terumo Corporation. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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