Chronic Venous Occlusions Treatment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

The Chronic Venous Occlusions Treatment Market is segmented by Treatment Type (Chronic Deep Vein Thrombosis, Venous Obstruction, Deep Vein Insufficiency, and Other Treatment Types), Product Type (Devices and Therapeutics), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Chronic Venous Occlusions Treatment Market Size
Study Period: 2020-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 9 %

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Market Overview

The chronic venous occlusion market is expected to register a CAGR of 9% during the forecast period (2022-2027).

The COVID-19 pandemic has impacted the market. The companies had faced an extreme decline in their operating earnings, sales revenue from the segments, and discontinuation of the procedures. Additionally, the commercial or clinical supply of the medicines and drug candidates has been impacted due to the shutdown of the company’s, or the third-party manufacturing facilities, distribution channels, and transportation systems. For instance, AngioDynamics reported decreased sales in Venous products in 2020. This was due to the termination of elective procedures by the hospitals.

Chronic venous occlusion treatment has a high adoption rate due to the increasing prevalence of chronic venous diseases. According to the National Center for Biotechnology Information, 2021, more than 30 million people have some form of chronic venous disease in the United States. In addition, the prevalence of chronic venous disease is 10 times more than peripheral artery diseases. The factors driving the growth of the venous occlusion treatment market include increasing genetic disorders, the rising geriatric population, and obese and pregnant women who are also prone to chronic venous occlusions. Venous occlusion has been observed in people having bone disorders. According to the National Center for Biotechnology Information, 2021, it has been found that 25% of females and 75% of males having bone disorders have experienced venous occlusion. Additionally, increasing availability of advanced chronic venous occlusion treatments and devices and increasing adoption of minimally invasive procedures involving low risk of infections and minimum hospital stays, thus saving the cost and time, also boost the growth of the market. Also, the increasing adoption of different strategies by companies and manufacturers to expand their product portfolios and to enter the chronic venous occlusion treatment market is likely to boost the growth of the market. For instance, Hancock Jaffe Laboratories announced that the United States Food and Drug Administration (FDA) had granted the Breakthrough Device designation status to the company's lead product, VenoValve. Moreover, the companies are focusing on developing drug candidates for the treatment of venous insufficiencies, such as P-TEV, TR 987, and Sulodexide.

However, lack of awareness and skilled specialists, risks associated with the procedures, and the high cost of chronic total occlusion treatment are the major factors hindering the growth of the market.

Scope of the Report

As per the scope of the report, venous occlusion is a condition in which a vein becomes narrowed, blocked, or compressed by nearby structures such as clots, muscles, arteries, or other veins, which results in blood pooling and flowing backward, causing swelling and pain in the area. The introduction of new technology to treat venous occlusion is expected to emerge, and the market is likely to witness more vertical integration and joint ventures during the forecast period. The chronic venous occlusions treatment market is segmented by treatment type (chronic deep vein thrombosis, venous obstruction, deep vein insufficiency, and other treatment types), product type (devices and therapeutics), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 different countries across the major regions globally.

Treatment Type
Chronic Deep Vein Thrombosis
Venous Obstruction
Deep Vein Insufficiency
Other Treatment Types
Product Type
Devices
Therapeutics
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Devices Segment is Expected to Drive the Market Growth

The increasing prevalence of cardiovascular diseases and the growing geriatric population are expected to be the key driving factors for the growth of the devices segment during the forecast period. The older population is more likely to develop cardiovascular diseases. According to Ageing Europe Statistics, 2021, it has been observed that more than one-fifth (20.8%) of the European population was aged 65 years and over. In addition, it is projected that the share of people aged 80 years or above in the European population will have a two-and-a-half-fold increase between 2021 and 2100, from 6.0% to 14.6%. For instance, women aged over 40 years who are suffering from varicose veins are usually treated with V-block occluding stent, a self-expandable device that functions as a vein occluder and blood clot trap.

In addition, the rising demand for non-invasive procedures is likely to boost the growth of the market. For instance, cardiac catheterization, a minimally invasive way, is used to diagnose and treat a variety of heart and vascular conditions, such as May-Thurner syndrome, by guiding thin, flexible tubes called catheters through blood vessels to problem areas.

The clinicians advised the implantation of stents in patients suffering from cardiovascular disorders such as blockages in the heart or sudden heart attacks to widen up the narrow veins of the heart to regulate the flow of blood in the heart and body. According to the American Heart Association, 2020, approximately 2 million stents are implanted in the United States every year. Increasing hypertension among masses significantly increases the risk of heart diseases and affects the normal blood flow in the body. According to the statistics published by the World Health Organization, 2021, an estimated 1,28 billion adults aged 30-79 years have heart diseases, and approximately two-thirds of the population live in low- or middle-income countries. According to the European Society of Cardiology, more than 6 million new cases of cardiovascular diseases are found in the European Union and more than 12 million in Europe as a whole every year.

These factors are contributing to the growth of the chronic venous occlusion treatment market during the forecast period.

Chronic Venous Occlusions Treatment Market Share

North America Dominates the Market, and It is Expected to do the Same During the Forecast Period

North America is projected to hold significant shares in the chronic venous occlusion treatment market. This is due to the presence of a number of treatment facilities and advanced healthcare infrastructure in the region. For instance, it has been estimated that the United States' healthcare consumption expenditure per capita is USD 10,224, and the national health expenditure as a percent of GDP in the United States was 19.7% in 2020. In addition, the growing prevalence of venous diseases or chronic venous insufficiency (CVI) is likely to drive the growth of the market. Furthermore, increasing demand for minimally invasive procedures, the growing geriatric population, and unhealthy lifestyles are increasing the adoption of venous occlusion treatment. According to the Centers for Disease Control and Prevention, 2020, it has been estimated that 900,000 people are affected, and 60,000-100,000 Americans die from deep vein thrombosis in the United States. In addition, approximately 5% to 8% of the US population has one of several inherited genetic risk factors known as inherited thrombophilias, which increases the risk of venous thrombosis.

Chronic Venous Occlusions Treatment Market Growth

Competitive Landscape

The chronic venous occlusions treatment market is fairly fragmented in nature, with the presence of a number of players in the market. The companies present in the market are using diverse strategies such as mergers, acquisitions, partnerships, and collaborations to maintain their leading position. Some of the major players in the market include Cardinal Health, Boston Scientific Corporation, Richard Wolf GmbH, and Stryker.

Recent Developments

  • In December 2021, Integer Holdings Corporation acquired Oscor, a privately-held medical device company that designs, develops, manufactures, and markets a comprehensive portfolio of highly specialized medical devices, venous access systems, diagnostic catheters, and implantable devices. This acquisition will assist the company in strengthening its ability to serve customers by expanding its product offering in steerable sheaths and cardiac and neurostimulation leads and adding a low-cost manufacturing capacity to support growth.
  • In December 2021, Royal Phillips, a global leader in health technology, announced the acquisition of Vesper Medical Inc., a US-based medical technology company that develops minimally-invasive peripheral vascular devices. In this, Vesper will further expand Philips’ portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for the treatment of deep venous disease.
  • In December 2021, BD (Becton, Dickinson and Company), a leading global medical technology company, acquired Venclose Inc., a provider of solutions for the treatment of chronic venous insufficiency (CVI). This will enable the company to provide a more robust portfolio of solutions to the physicians treating a full range of venous conditions.
  • In October 2021, Boston Scientific Corporation announced the acquisition of Baylis Medical Company Inc. for an upfront payment of USD 1.75 billion. This will assist the company in expanding its electrophysiology and structural heart portfolios.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Availability of Advanced Treatments and Devices

      2. 4.2.2 Increasing Prevalence of Venous Occlusion Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 Cost Consciousness and Risks Associated with Treatment

      2. 4.3.2 Risks and Complications Associated with Treatment

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Treatment Type

      1. 5.1.1 Chronic Deep Vein Thrombosis

      2. 5.1.2 Venous Obstruction

      3. 5.1.3 Deep Vein Insufficiency

      4. 5.1.4 Other Treatment Types

    2. 5.2 Product Type

      1. 5.2.1 Devices

      2. 5.2.2 Therapeutics

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Cardinal Health

      2. 6.1.2 Stryker

      3. 6.1.3 Cook Medical

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 Edward Lifesciences

      6. 6.1.6 Angio Dynamics

      7. 6.1.7 ENDOCOR

      8. 6.1.8 Rontis

      9. 6.1.9 Penumbra

      10. 6.1.10 BD Advancing the World of Health

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Chronic Venous Occlusions Treatment Market market is studied from 2020 - 2027.

The Chronic Venous Occlusions Treatment Market is growing at a CAGR of 9% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Cardinal Health, Stryker, Boston Scientific Corporation, Angio Dynamics, Edward Lifesciences are the major companies operating in Chronic Venous Occlusions Treatment Market.

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