Venous Procedure Devices Market

About the Report

The global venous procedure devices market is projected to surpass US$ 3 billion valuation by 2031, expanding at a CAGR of around 6%, with demand for chest venous procedure devices and abdomen venous procedure devices being high. Venous procedure devices have experienced notable uptake for key cardiovascular procedures, with sales of drug-eluting stents and catheters acquiring central importance.

Surgical procedures for vascular disease indication is expected to garner significant attention, providing fertile ground for market expansion. A new report by Facr.MR tracks the global sales of the venous procedure devices market in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the healthcare domain in general, and venous procedure device demand in particular.

How Do Historical and Future Projections Compare?

Surging cardiovascular disease incidence in the past few years has greatly enhanced uptake of venous procedure devices, with prominent manufacturers introducing technologically advanced products. The market was valued at US$ 2 billion in 2019, with growth expected to incline further in upcoming years.

Prospects appeared temporarily dim during the initial months of COVID-19, as elective surgical procedures took a backseat. However, since Q4 2020, a gradual upswing with relaxation of restrictions across key healthcare domains. Future expansion will be largely influenced by increased uptake of specialized stents and catheters.

How are Technological Advancements Paving the Way for Future Market Expansion?

Several players are introducing technologically advanced products based on upgraded techniques, enabling precise and improved diagnostics to patients suffering from venous diseases. A major breakthrough in this regard is the development of a centralized administration system.

Patients often need central venous access for indications, including ongoing hemodynamic monitoring, difficult venous access, or long-term IV therapy. Numerous central venous catheters and devices are available which enable such access. Additionally, advancements such as Doppler ultrasound have enabled practitioners to effectively diagnose diseases like deep vein thrombosis and vasculitis.

Why are Clinicians Opting for Advanced Drug Eluting Venous Stents?

Stenting of arteries as a percutaneous transluminal angioplasty procedure is a promising minimally invasive therapy based on reopening narrowed arteries. Hence, prominent manufacturers are looking leverage high quality drug eluting venous stents for achieving high patient outcomes.

Drug eluting stents (DES) have been developed to overcome the main shortcomings of bare metal stents (BMS) or coated stents. Boston Scientific is boosting its marketing capabilities of Eluvia drug eluting vascular stent system, which is capable of delivering exceptional outcomes in complex lesions.

How are Product Recalls Impeding the Growth Prospects of Manufacturers?

In the recent past, several venous procedure devices have been recalled from the market due to documentation of undesired adverse patient outcomes. For instance, in 2017, Vascular Solutions Inc. recalled over 7,000 units of its venture catheters due to the presence of excess material at the tip of the catheter which separated during surgery, leading to development of blood clots.

Hence, major medical device manufacturers are subjecting each product to strict inspection and laboratory testing so as to offset any anomaly which may arise during the trials. This prolongs effective availability of key surgical devices, thereby limiting growth prospects for venous procedure devices in the long run.

Country-wise Insights

Why is the U.S. a Prominent Market for Venous Procedure Devices?

The US is expected to generate ample growth opportunities for the venous procedure devices market, attributed to increased surgical procedures for various cardiac anomalies. According to the Society for Vascular Surgery, peripheral arterial disease (PAD) affects between 8 and 12 million people in the US, while nearly 200,000 people are annually diagnosed with abdominal aortic aneurysm (AAA).

Hence, prominent healthcare companies are expected to cement their presence throughout the US market, rendering it the most lucrative country throughout North America. Prominent manufacturers include Medtronic Plc., Boston Scientific Corporation, Abbott Laboratories and Cook Medical among others.

How Will India Generate Growth Prospects for Venous Procedure Device Suppliers?

According to W.H.O, India reported 63% of total deaths due to non-communicable diseases, of which 27% were attributed to cardiovascular diseases. Hence, the scope for enhanced venous procedure device sales is increasing throughout the country in recent years.

Furthermore, ailments such as varicose veins is also prompting uptake. In 2019, Apollo Hospitals, Chennai became the first national center to perform a modern varicose vein removal surgery using the VenalSeal closure system. Such developments will greatly enhance prospects for the Indian market.

Category-wise Insights

Why is There High Demand for Venous Procedure Catheters?

By product, demand for venous procedure catheters is expected to see considerable incline, with preference for central catheters generating bulk of total demand. Central catheters are more effective in directly administering nutrition and medication directly into the bloodstream.

Central venous catheters are less likely to detach from the vein, permitting patients to remain more active and receive intravenous medication at home. Furthermore, it enables delivery of larger blood quantities to patients in severe shock.

Which is the Most Common Venous Procedure Device Application Area?

By application, chest implants are expected to remain highly utilized in the venous procedure devices domain, particularly in the infraclavicular region. This offers greater convenience to surgeons while operating on a patient.

However, abdomen venous procedure devices are also surging in popularity, attributed to increased prevalence of chronic kidney ailments requiring patients to undergo hemodialysis procedures.

Why is Vascular Disease Indication Acquiring Ground?

By indication, vascular diseases are expected to generate significant demand, amid the rising prevalence of deep vein thrombosis globally. As per the Centers for Disease Control and Prevention, approximately 900,000 people are affected by it across the US, with 10-30% succumbing within a month of diagnosis.

Treatment for hemodialysis/arteriovenous fistulae is also anticipated to incline, attributed to its surging prevalence rate in recent years.

Competitive Landscape

Notable developments with regards to key venous procedure device manufacturers are as follows:

• In May 2021, Medtronic Plc. announced designation of the CE Mark for its EvolutTM PRO+ TAVI System for treating patients with symptomatic severe aortic stenosis across Europe
• In May 2019, Cardinal Health company Cordis announced the full US launch of its RADIAL 360 portfolio for interventional cardiology purposes, comprising of four main devices

*This list is indicative- full details about prominent venous procedure devices manufacturers is available upon request.

Report Scope

Key Market Segments Covered

• Product

  • Venous Stents
    • Drug-eluting Venous Stents
    • Non-drug Eluting Venous Stents
  • Venous Procedure Catheters
    • Central Venous Catheters
    • Subcutaneous (Implanted) Venous Port Catheters
    • Peripherally Inserted Central Venous Catheters (PICC)
  • Venous Procedure Guidewires
    • Standard Venous Procedure Guidewires
    • High Support Venous Procedure Guidewires
    • Flexible Venous Procedure Guidewires
    • Chronic Total Occlusion Venous Procedure Guidewires
  • Others

• Application

  • Leg Venous Procedure Devices
  • Chest Venous Procedure Devices
  • Abdomen Venous Procedure Devices
  • Arm Venous Procedure Devices

• Indication

  • Venous Procedure Devices for Vascular Diseases
    • Chronic Deep Vein Thrombosis
    • Post-thrombotic Syndrome
    • May-Thurner Syndrome
    • Hemodialysis/Arteriovenous Fistulae
    • Others
  • Venous Procedure Devices for Cancer

• End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Others

• Region

  • North America (US and Canada)
  • Europe (Germany, UK, France, Italy, Spain and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia & New Zealand and Rest of Asia-Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (GCC, South Africa and Rest of MEA)

Venous Procedure Devices Market - Scope of Report

A recent study by Fact.MR on the venous procedure devices market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering venous procedure devices.

The study also provides the dynamics responsible for influencing the future status of the venous procedure devices market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing venous procedure devices, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of venous procedure devices across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of venous procedure devices during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative markets for venous procedure devices?
• Which factors will impact the growth of the venous procedure devices market?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the venous procedure devices industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of volume (‘000 Units) and value (US$ Mn).

Market estimates at global and regional levels for venous procedure devices are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global venous procedure devices market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for venous procedure devices has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on leading manufacturers of venous procedure devices, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in manufacturing venous procedure devices has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the venous procedure devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.