Global Venous Reflux Disease Treatment Market, By Type (Stage-1, Stage-2, Stage-3), Treatment (Medication, Home Remedies, Non-Surgical and Procedures), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2030.
Venous Reflux Disease Treatment Market Analysis and Size
Venous disorders are diseases that affect the veins in the body. Varicose veins are one of the most common diseases that is caused by damaged vein walls and valves. According to the article published in the Journal of the American Heart Association, around 23% of adults in the U.S. have varicose veins. Numerous methods, such as endovenous ablation, sclerotherapy/adhesion injection, ligation or stripping, and supportive treatment, are used for venous reflux disease treatment.
Data Bridge Market Research analyses a growth rate in the global venous reflux disease treatment market in the forecast period 2023-2030. The expected CAGR of the global venous reflux disease treatment market tends to be around 7.50% in the mentioned forecast period. The market was valued at USD 6.72 billion in 2022, and it would grow up to USD 12 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Venous Reflux Disease Treatment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Stage-1, Stage-2, Stage-3), Treatment (Medication, Home Remedies, Non-Surgical and Procedures), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Teleflex, Inc. (U.S.), Mylan N.V. (U.S.), VVT Medical (Israel), BTG International Inc (U.K.)., AngioDynamics (U.S), Medtronic (U.S.), Candela Corporation (U.S), biolitec® A.G. (Germany), Sciton (U.S.), Stryker Corporation (U.S.), Cardinal Health. (U.S.), Boston Scientific Corporation (U.S.), Cook (U..S)
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Market Opportunities
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Market Definition
Chronic venous insufficiency is a type of condition which occurs when the venous valves or walls in the leg veins are not working properly, making it difficult for blood to return to the heart from the legs, which causes blood to pool or collate within those veins. It causes blood to pool in the leg veins, causing high pressure in those veins. It may cause mild symptoms at first. But later, this condition may interfere with the quality of life and lead to severe complications.
Global Venous Reflux Disease Treatment Market Dynamics
Drivers
- Increase in Geriatric Population
The geriatric population is expected to increase the patient population globally, which boots the global venous reflux disease treatment market in the forecast period. According to the WHO, the global elderly population is expected to reach around 2 billion by 2050, from 617 million in 2015. Varicose veins are more common among older adults and women. For instance, as per the article published in the Journal of American Heart Association, around 23% of U.S. adults are projected to have varicose veins. This boost the market growth.
- Increasing Demand for Noninvasive Surgeries
Noninvasive options have mostly replaced surgery. The preference for noninvasive surgeries has increased in recent years. This factor is expected to drive the market during the forecast period. Noninvasive methods also include minimum hospital stays, therefore saving time and cost. Many surgeons are adopting sclerotherapy, endovenous laser treatment, and radiofrequency ablation over conventional surgical practices. Thus, this factor increases the market growth.
Opportunities
- Growing Initiatives by Different Organizations
Numerous organizations, such as the British Association of Sclerotherapies (BAS), undertake initiatives annually to raise awareness and encourage the adoption of several treatments. An increasing number of product approvals is also contributing to the market growth. For instance, in November 2020, Vascular Barcelona Devices (V.B. Devices) received approval of the C.E. mark for Varixio Pod Air as Class 1 s medical device intended for automated preparation of foam for varicose veins sclerotherapy. Thus, several initiatives like these are leading to market growth.
- The emergence of Several Product Launches
Product launches, mergers and acquisitions, and investments in R&D for portfolio expansion are some of the major key strategies undertaken by the foremost players to support their market position. For instance, in August 2019, Surekha Varicose Veins Mumbai launched India's first-ever Cryo Laser and Cryo Sclerotherapy (CLaCS) to treat small varicose veins in the leg and spider veins. This technology consists of A.R. (Augmented Reality), Transdermal laser, and sclerotherapy.
Restraints/Challenges
- Lack of Skilled Professionals
A lack of trained healthcare professionals who are unaware of the treatment methods for this disease could limit the growth of the global venous reflux disease treatment market over a forecast period.
- High Cost
The huge expenditure on the treatment methods, such as different surgical procedures and home remedies, hamper the market growth.
This global venous reflux disease treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global venous reflux disease treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Venous Reflux Disease Treatment
During the pandemic, a reduction in the number of surgeries or procedures for treating varicose veins because of traveling restrictions impacted the manufacturers' sales. In the post-pandemic era, mergers and acquisitions, new product launches, and technological advancements in the venous reflux disease treatment market are expected to drive the market. For instance, in December 2021, Becton, Dickinson, and Company (B.D.) acquired Venclose Inc. to expand its business in treating Chronic Venous Insufficiency.
Recent Developments:
- In March 2021, Medtronic launched an Investigation Device Exemption (IDE) study to regulate the effectiveness and safety of the Abre venous self-expanding stent system to be used in the treatment of deep venous diseases.
Global Venous Reflux Disease Treatment Market Scope
The global venous reflux disease treatment market is segmented on the basis of type, treatment, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Stage-1
- Stage-2
- Stage-3
Treatment
- Medication
- Home Remedies
- Non-Surgical and Procedures
Route of Administration
- Oral
- Parenteral
- Others
End-Users
- Hospitals
- Homecare
- Speciality Centres
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Venous Reflux Disease Treatment Market Regional Analysis/Insights
The global venous reflux disease treatment market is analysed and market size insights and trends are provided by type, treatment, route of administration, distribution channel and end-user as referenced above.
The major countries covered in the global venous reflux disease treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to have the highest market growth due to an aesthetically conscious patient base. People are willing to undergo cosmetic procedures due to the evident results and safety.
Asia-Pacific dominates the market due to a large pool of patients, an increase in surgeries, and rising healthcare expenditure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Venous Reflux Disease Treatment Market Share Analysis
The global venous reflux disease treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global venous reflux disease treatment market.
Key players operating in the global venous reflux disease treatment market include:
- Teleflex, Inc. (U.S.)
- Mylan N.V. (U.S.)
- VVT Medical (Israel),
- BTG International Inc (U.K.)
- AngioDynamics (U.S)
- Medtronic (U.S.)
- Candela Corporation (U.S)
- biolitec® A.G. (Germany),
- Sciton (U.S.)
- Stryker Corporation (U.S.)
- Cardinal Health. (U.S.)
- Boston Scientific Corporation (U.S.)
- Cook (U..S)
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