Growing awareness, improved diagnosis, and technological advancements will increase demand for venous procedure devices. Increasing demand for minimally invasive procedures will drive revenue for venous procedure devices.
Wilmington, Delaware, United States, June 02, 2023 (GLOBE NEWSWIRE) — The market for venous procedure devices is expected to reach US$ 3.4 billion by 2030. From 2020 to 2030, the Venous Procedure Devices market is expected to grow at a CAGR of 6%.
Central venous access is often necessary for patients for a variety of reasons, including ongoing hemodynamic monitoring, direct intravenous access, or long-term intravenous therapy. The ability to access the central veins can be enabled with a variety of catheters and devices.
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Patients and healthcare professionals have become more aware of venous diseases due to a greater emphasis on early diagnosis and treatment. The increasing demand for venous procedure devices is driven by people seeking medical help for venous conditions. In recent years, compression stockings, sleeves, and other products used in compression therapy have seen continuous growth. It is imperative that manufacturers develop compression garments that meet patients’ diverse needs by being comfortable, effective, and innovative.
Compared to traditional surgical interventions, catheter-based procedures are less invasive, resulting in shorter hospital stays and faster recovery times. A significant amount of technological advancement has taken place in the venous procedure devices market. With the effectiveness of these procedures and reduced recovery time, minimally invasive procedures, such as microvenous laser therapy (MVT) and radiofrequency ablation (RFA), have become increasingly popular. Venous stents and catheters are new devices and techniques being developed to enhance treatment outcomes.
Key Findings of the Market Report
- Ongoing clinical trials for venous procedure devices will increase by virtue of FDA approvals.
- Stents for venous vessels are likely to emerge as a solution to meet venous challenges by providing decreased compression resistance, increased radial strength, and additional flexibility.
- A growing number of procedures is increasing the demand for highly efficient and technologically advanced peripheral vascular devices.
- The role of compression therapy in treating venous diseases is indispensable.
- The use of catheter-based procedures in the treatment of venous diseases, including venous angioplasty and stenting, has become increasingly prevalent.
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Global Venous Procedure Devices Market: Growth Drivers
- With cardiovascular disease incidence on the rise, prominent manufacturers have introduced technologically advanced venous procedure devices in recent years.
- In addition, advancements in ultrasound technology have made it possible for doctors to diagnose diseases such as deep vein thrombosis and vasculitis more effectively. Stents and catheters that are specialized will be a major factor in future expansion.
- A growing prevalence of vascular diseases is expected to drive growth in the venous procedure devices market. Surgical procedures that can be performed in a day will also become more popular in the future, resulting in an increase in the global market for vascular closure devices.
- Endovenous ablation, sclerotherapy, and surgical ligation and stripping are some of the methods used to treat varicose veins. The market for central venous catheters is expected to grow. As a result, venous procedure devices have become more widely adopted and patient access to treatment options has increased.
Global Venous Procedure Devices Market: Regional Landscape
- Due to a higher prevalence of disease and the introduction of new products, North America dominated the global venous procedure devices market.
- In the United States, the demand for healthcare services will grow with the development of advanced healthcare infrastructures and a rise in surgical procedures.
- A growing number of FDA approvals and investment in these devices is expected to grow demand in the Asia Pacific.
- A rise in disposable incomes and reimbursement policies is expected to further enhance the growth of the market in developing regions.
- A growing number of device manufacturers in Germany will capture incremental opportunities in venous procedure devices in the coming years.
Global Venous Procedure Devices Market: Key Players
There are a number of companies that are actively involved in regulatory approvals, launching new products, and acquiring and collaborating with other companies in the global venous procedure devices market. Venous procedure device markets are expected to grow as a result of these strategies. Venous procedure devices market players have adopted a few expansion strategies.
- In May 2023, VeinWay introduced a method to prevent blood clots in underserved populations. Funds raised for the company’s chronic venous disease treatment program totaled $2.5 million. As a company, VeinWay exists exclusively to improve the healthcare system for chronic venous disease patients – and to make Interventional Radiologists more effective at opening, treating, and helping underappreciated patients.
- In May 2023, Shape Memory Medical Inc., an innovator in shape memory polymers for peripheral and neurovascular applications, published the results of IMPEDE Embolization Plug’s prospective, single-arm, open-label safety study. An article about the research was published ahead of print this month in one of the peer-reviewed journals in the field of cardiovascular research. IMPEDE Embolization Plugs are being evaluated for use in a variety of arterial and venous applications, and the publication is a significant milestone for the company.
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Global Venous Procedure Devices Market: Segmentation
- Venous Stents
- Drug Eluting Venous Stent
- Non-drug Eluting Venous Stent
- Central Venous Catheter
- Subcutaneous (Implanted) Port
- Peripherally Inserted Central Catheter (PICC)
- High Support
- Chronic Total Occlusion
- Vascular Disease
- Chronic Deep Vein Thrombosis
- Post-thrombotic Syndrome
- May-Thurner Syndrome
- Hemodialysis/Arteriovenous Fistulae
- Ambulatory Surgical Center
- Specialty Clinics
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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