Chronic Venous Occlusions Treatment Market Size (2024 - 2029)

Chronic Venous Occlusions Treatment Market Analysis

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.

Chronic Venous Occlusions Treatment Industry Segmentation

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.