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Chronic Venous Occlusions Treatment Market to surpass $9.5bn by 2030

  • Published Date: November 23, 2022

Chronic Venous Occlusions Treatment Market size is anticipated to exceed USD 9.5 billion by 2030, according to a new research report by Global Market Insights Inc.

The effectiveness of chronic venous insufficiency treatment has greatly improved over time with technological innovations, which is a major factor influencing industry growth. The development of compression devices and radiofrequency ablation for the identification and treatment of varicose veins has significantly impacted the market worldwide. Additionally, thermal ablation has revolutionized venous therapies for treating superficial truncal reflux.

Furthermore, the market expansion is stimulated by the growing preference for minimally invasive surgeries that are performed as outpatient procedures, coupled with reduced postoperative pain, shorter duration of hospital stays, and less blood loss. These procedures are widely adopted to treat venous occlusion and other chronic illnesses in hospitals and outpatient surgery centers globally.

Increasing availability of advanced medical devices to boost product sales

Chronic venous occlusions treatment market from devices segment is likely to reach over USD 4.5 billion by 2030. The product demand is projected to rise in response to the growing need for advanced therapeutic and medical devices to treat chronic venous occlusions. This growth is attributable to multiple benefits that are offered by compression devices, endovenous ablation, sclerotherapy, and other devices. The high prevalence of patients with leg ulcers, varicose veins, chronic venous illnesses, stasis ulcers, and deep vein thrombosis, among other conditions, has led to a significant increase in the adoption of these devices.

Browse key industry insights spread across 271 pages with 339 market data tables & 16 figures & charts from the report, “Chronic Venous Occlusions Treatment Market Analysis by Product (Devices {Compression Devices, Endogenous Ablation [Laser Ablation, Radiofrequency Ablation], Sclerotherapy, Vein-stripping}, Drugs {Analgesics, Antibiotics, Anticoagulants}), By Application (Varicose Veins, Venous Stasis Ulcers, Edema, Deep Vein Thrombosis), By End-Use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

High hospitalization rates to fuel varicose veins segment expansion

Chronic venous occlusions treatment market from varicose veins segment is projected to increase at over 5% CAGR through 2030 owing to a widening patient base and an upsurge in hospitalizations among adults suffering from varicose veins resulting from weak or damaged leg valves. The aging population, multiple pregnancies, obesity, and other factors are affecting morbidities and are likely to amplify segment revenues.

Growing acceptance of advanced technological devices at hospitals to expand segmental share

Chronic venous occlusions treatment market from the hospitals segment was valued at over USD 3.5 billion in 2021 and is set to record notable growth through 2030. The rapid adoption of technologically improved venous occlusion devices, coupled with the availability of minimally invasive treatment alternatives for numerous lower extremity disorders to aid a large client base, is mainly responsible for segment growth. Rising patient admissions with chronic venous diseases, improved access to better care and diagnostics, and the presence of experienced healthcare personnel will increase patient visits to hospitals, escalating the overall segment trends.

Increasing hospitalization rate to amplify Europe’s revenue share

Europe chronic venous occlusions treatment market is expected to be worth over USD 2.5 billion by 2030 driven by the rising hospitalization rate brought on by the high frequency of venous leg ulcers, lower extremity disorders, chronic venous insufficiency, and supporting healthcare policies. The Journal of Clinical Medicine reported that in 2021, venous leg ulcers affected 2.2 million people in Europe, and that number is projected to rise steadily. Additionally, several screening programs and awareness campaigns implemented by the regulatory authorities are primed to complement business expansion.

Product innovations to define the market outlook

Stryker Corporation, Sanofi, Medtronic plc, Sigvaris AG, Pfizer Inc., Medi GmbH & Co. KG, Tactile Medical, Julius Zorn GmbH, Bristol Myers Squibb, Smith & Nephew PLC, Viatris Inc., Boston Scientific Corporation, Merz Pharma, Lumenis Ltd., Candela, Bayer AG, Sciton, Inc, Fotona, ConvaTec Inc., Leucadia Pharmaceuticals (Hikma), 3M Company, and Venclose, Inc. (Becton Dickinson and Company) and others are some major medical and healthcare technology companies operating in the chronic venous occlusions treatment industry.

Authors: Sumant Ugalmugle, Rupali Swain