The Rising Incidence of Venous Diseases Drives the Demand for Venous Diseases Treatment Market

According to the World Journal of Surgery and Surgical Research, in 2021, the overall prevalence of chronic venous insufficiency was 45.6% in both men and women. Also, in 2021, a prevalence study conducted in primary healthcare centers in the Qassim region of Saudi Arabia showed that varicose veins in men and women were 61.1%. A new survey-based study with Doppler ultrasound in the Republic of Korea found that female nurses had a 16.18% lower incidence of varicose veins.

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Data Bridge Market Research analyses that the Venous Diseases Treatment Market is expected to grow at a CAGR of 7.3% in the forecast period of 2021 to 2030 and is expected to reach USD 10,117.88 million by 2030. Sclerotherapy injection is projected to propel the market's growth as they are widely used for diagnosis in various regions. 

Key Findings of the Study

• The venous diseases treatment market is anticipated to reach a value of USD 10,117.88    million by 2030, with a CAGR of around 7.3% during the forecast period from 2021 to 2030
• North America dominated the venous diseases treatment market in 2023 due to the higher level of investments by U.S. manufacturers and the increasing incidence of venous diseases in the U.S.
• The sclerotherapy injection segment accounted for the largest share in 2022 at 31.91%. The instruments segment is growing due to the rising incidence of venous disorders and the increasing geriatric population. Moreover, the major players in the market are launching various innovative featured products in the region, further improving the segment's growth
• The venous disease treatment market was adversely affected by the COVID-19 outbreak. The lockdown restriction led to various challenges, such as decreased hospital visits and delays in diagnosis procedures  
• Asia-Pacific is expected to register lucrative growth over 2023 to 2030, owing to rising awareness of venous diseases and a growing preference for minimally invasive procedures

Rising Incidences of Venous Diseases

Venous diseases are conditions that damage veins in the body. Damaged blood vessel walls prevent the circulatory system from working, causing blood to pool and reflux (backward) when the muscles relax. This causes abnormally high pressure to build up in the veins. This buildup causes veins to tighten and twist, increased swelling, increased valve incompetence, slow blood flow, and possible blood clots. Finally, this condition can lead to various diseases known as venous diseases.

There are many types of venous diseases that can develop for different reasons. Some of the more common disorders are:

• Blood clots
• Chronic venous insufficiency
• Deep vein thrombosis
• Phlebitis
• Varicose veins and spider veins

Patients with a history of deep vein thrombosis, varicose veins, or other venous diseases are at increased risk of cardiovascular disease. A family history of these diseases also increases a patient's risk of CVD1. Untreated CVD can lead to chronic venous insufficiency (CVI). Venous disorders are pretty common nowadays.

Report Scope and Market Segmentation

Segment Analysis:

The venous diseases treatment market is segmented on the basis of product type, disease type, treatment type, end user and distribution channel.

On the basis of product type, the global venous diseases treatment market is segmented into ablation devices, sclerotherapy injection, venous stents, venous closure products, medications and others.

In 2023, the sclerotherapy injection segment in product type segment is anticipated to dominate the venous diseases treatment market

In 2023, the sclerotherapy injection segment is expected to dominate the global venous diseases treatment market due to this associated with fewer side effects, and less scarring, easier to recover from, and less damaging to surrounding tissue, and it’s less expensive. The segment is expected reach the highest CAGR of 8.4% in the forecast period of 2023-2030.

On the basis of disease type, the global venous diseases treatment market is segmented into deep vein thrombosis (DVT), chronic venous insufficiency (CVI), pulmonary embolism, superficial thrombophlebitis, varicose veins and others. In 2023, the Varicose veins segment is expected to dominate the market with a 33.65% market share due to rapid changes in lifestyle leading to obesity and other factors.

On the basis of treatment type, the global venous diseases treatment market is segmented into compression therapy, veno active medication, surgeries, scelrotherapy, angioplasty or stenting, vein ligation and stripping, vena cava filter, ambulatory phlebectomy, radiofrequency ablation therapy, laser treatment, compression therapy and other therapies. In 2023, the sclerotherapy segment is expected to dominate the market with a 21.53% market share due to need for early and proper diagnosis for the venous disorders.

On the basis of end user, the global venous diseases treatment market is segmented into hospitals, clinics, ambulatory surgical centers and others. In 2023, the hospitals segment is expected to dominate the market with a 55.68% market share due to increased adoption of minimally invasive procedure with advanced devices.

On the basis of distribution channel, the global venous diseases treatment market is segmented into direct tender, retail sales, and others. In 2023, the direct tender segment is expected to dominate the market with a 54.48% market share due to high usage of minimally invasive devices available in the market for the treatment of various venous disorders.

Abbott, Imricor, Baylis Medical Company, Inc., Theraclion, Sonablate, plusmedica.de, Boston Scientific Corporation, Olympus Corporation, Smith + Nephew, Cook, SCITECH, Carl Zeiss Meditec AG, Teleflex incorporated, Alma Lasers, BD, B.Braun SE, Medtronic, Stryker, Koninklijke Philips N.V., Varian Medical Systems, Candela Corporation, Terumo Corporation, Angiodynamics, Optimed Medizinische Instrumente GmbH are engaged in the development of venous diseases treatment for the hospitals, clinics, ambulatory surgical centres and others.

Major Players

Data Bridge Market Research recognizes the following companies as the major venous diseases treatment market players in global venous diseases treatment market are Abbott (U.S.), Imricor (U.S.), Baylis Medical Company, Inc. (Canada), Theraclion (France), Sonablate (U.S.), plusmedica.de (Germany), Boston Scientific Corporation (U.S.), Olympus Corporation (Japan), Smith + Nephew (U.K.), Cook (U.S.), SCITECH (Brazil), Carl Zeiss Meditec AG(Germany), Teleflex incorporated (U.S.), Alma Lasers (Israel), BD (U.S.), B.Braun SE (Germany) , Medtronic (Ireland), Stryker (U.S.), Koninklijke Philips N.V.(Netherlands), Varian Medical Systems (U.S.), Candela Corporation (U.S.), Terumo Corporation (Japan), Angiodynamics (U.S.), and Optimed Medizinische Instrumente GmbH (Germany).

Market Development

• In August 2022, Medtronic announced that it partnered with BioIntelliSense, a continuous health monitoring company and clinical intelligence company. This partnership will benefit the patients of Medtronic's monitoring business by offering access to medical-grade devices, which provide continuous measurement signs
• In August 2022, Boston Scientific Corporation announced the acquisition of Obsidio, Inc., a privately held business that created the Gel Embolic Material (GEMTM) technology used to embolize blood vessels in the peripheral vasculature. The GEM technology, which was recently approved by the U.S. Food and Drug Administration (FDA), is incredibly advantageous and effective for patients. This prompted the company to grow its clientele
• In April 2022, Varian Medical Systems, Inc. announced that the company has done a five-year research and professional services agreement with Icon Group (Icon). This will help in product evaluation projects, and clinical consultations throughout product development and thereby expanding the product portfolio of the company
• In January 2021, Stryker announced that the company had acquired OrthoSensor, Inc., a privately held company, for total joint replacement. This results in empowering surgeons with comprehensive data-driven solutions in the market
• In September 2021, Olympus Corporation launched the first devices in the new POWERSEAL family of cutting-edge bipolar surgical energy tools. The POWERSEAL's great procedural efficiency allows it to perform to the highest clinical standards for cutting-edge bipolar surgical energy devices. This prompted the business to broaden its offering of products.

Regional Analysis

Geographically, the countries covered in the venous diseases treatment market report are U.S., Canada and Mexico in North America, Germany,  France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland, Ireland, rest of Europe in Europe, China, India, Japan, South Korea, Thailand, Singapore, Indonesia, Malaysia, Philippines,  Australia, rest of Asia-Pacific in the Asia-Pacific (APAC), Brazil, Argentina, rest of South America as part of South America, South Africa,  Saudi Arabia,  U.A.E., Egypt, Israel,  rest of Middle East and Africa as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in venous disease treatment market during the forecast period 2021 - 2030

In 2023, North America dominated the venous disease treatment market owing to the higher level of investments by U.S. manufacturers and increasing prevalence of venous disorders in U.S.  North America will continue to dominate the venous diseases treatment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and launch of new products in this region. Additionally, the increasing number of cases of venous disorders and the rising geriatric population are expected to further enhance the market's growth rate in this region. 

Asia-Pacific is estimated to be the fastest growing region in venous diseases treatment market the forecast period 2021 - 2030

Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and rapid development of medical facilities in emerging economies in this region. In addition to this, rising awareness towards venous diseases and growing preference of minimally invasive procedures are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the healthcare industry. The venous diseases treatment market was, however adversely affected by it.  The imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak, led to emergence of various challenges such as the denied clinics, cancelled or postponed diagnosis and  treatment, stifling business growth, suspensions of new developments and even increasing cases in COVID-19 medical care providers, further limiting the industry's expansion. As the admission of COVID-19 patients in hospitals increased, numerous vascular or venous surgeries or treatments were cancelled or postponed to reserve hospital beds and patient care staff to COVID-19 patient care. The developing and implementing contingency plans is highly crucial for business operations and key imported raw materials.

On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in increased hospital services. Moreover, the restrictions and measures are likely to relax, which will help market to witness a slight increment, as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, venous diseases treatment market will grow at an accelerated pace post COVID-19.