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The Growing Imapct of Deep Venous Disease Treatment Devices Market

20 Jun 2023

Deep venous diseases define a medical condition that occurs in deep veins, such as deep vein thrombosis (DVT), deep vein reflux, deep vein obstruction, and chronic venous insufficiency in deep veins. There are different devices used for treating and preventing these conditions. Moreover, as per a study published by the National Center for Biotechnology Information (NCBI) in September 2022, titled “Deep Venous Thrombosis of the Lower Extremity,” it is stated that globally one out of 20 people develops DVT during their lifetime. This indicates that one in every 20 people will need treatment for this deep venous disease, thereby increasing the demand for deep venous disease treatment devices.

The different types of devices used during the treatment or prevention of deep venous diseases include thrombectomy devices, inferior vena cava (IVC) filters, percutaneous transluminal angioplasty (PTA) balloon catheters, peripheral vascular stents, compression devices or stockings, and accessory devices.

The Road Ahead

Development of patient-specific vascular stents and intermittent pneumatic compression (IPC) devices are expected to further advance the field of deep venous disease treatment devices. As research in the field advances, the treatment procedure of deep venous diseases is expected to be performed extensively. Moreover, market players are expected to continue to develop products, including non-invasive and minimally invasive devices for treatment and preventative purposes.

Impact Analysis

The global deep venous disease treatment devices market is anticipated to be influenced by various factors during the forecast period 2023-2032. The key factors driving growth include an upsurge in the incidence of deep vein diseases leading to increased demand for treatment devices, increasing awareness of preventative devices, a rise in the diagnosis of deep venous diseases in hospitals leading to increased use of treatment devices, and technological advancements in vascular stents.

The factors restraining market growth include a rise in drug-based treatment for deep venous diseases, which hinders the adoption of surgical devices, and the lack of skilled professionals performing vascular surgery. The following figure indicates the impact analysis of the various factors influencing the growth of the market:

Market Segmentation Based on Products

The global deep venous disease treatment devices market by product has been segmented into thrombectomy and thrombolysis device, inferior vena cava (IVC) filter, peripheral vascular stent, percutaneous transluminal angioplasty (PTA) balloon catheter, accessory device, and compression device/stockings. The accessory device is the largest segment among the products, followed by the thrombectomy and thrombolysis device segment. The following figure indicates the share of products in the global deep venous disease treatment devices market in 2022 and 2032:


Regional Analysis

Regions such as North America and Europe have seen an upsurge in prevalence of deep venous diseases leading to increased demand for treatment devices, favorable reimbursement scenarios augmenting the demand for treatment, and easy availability of products due to the presence of various local and global companies, due to which these regions hold the maximum share in the global deep venous disease treatment devices market. Regions such as Asia-Pacific and rest-of-the-world are anticipated to register significant growth during the forecast period 2023-2032 owing to factors such as an increase in cases of deep venous diseases and a rise in awareness of treatment devices.

Recent Developments

Regulatory and legal activities have accounted for the maximum number of key developments, i.e., nearly 37.04% of the total developments in the global deep venous disease treatment devices market. The following table indicates the quarterly analysis of key developments that took place in the market from January 2018-January 2023.

COVID-19 Impact and Post-COVID-19 Scenario

The COVID-19 pandemic has impacted the global healthcare ecosystem in different manners. Among the sectors of the healthcare ecosystem that got less impacted by the pandemic are the deep venous disease treatment devices. Since the number of patients hospitalized during the pandemic was at its peak, the risk of patients developing different deep venous diseases got highly increased and resulted in more cases of diseases such as deep vein thrombosis. Hence, the COVID-19 pandemic has resulted in an increase in the treatment and preventative devices for deep venous diseases.

However, the market is expected to overcome the impact of COVID-19 and following are expected in the post-COVID-19 scenario::

  • Treatment devices are expected to be extensively used due to an increase in the awareness of deep venous diseases.
  • The high adoption of non-invasive techniques is expected to further drive the growth of the market.

Conclusion

The global deep venous disease treatment devices market is expected to be mainly driven by factors such as an upsurge in the incidence of deep venous diseases, a rise in the awareness of preventative devices, and an increase in hospital-associated deep venous diseases such as DVT. In recent years, the use of non-invasive and minimally invasive techniques for preventing and treating deep venous diseases has significantly increased and is expected to continue the pattern in the coming years. As a result, the market is expected to register significant growth during the forecast period 2023-2032.

 
 
 
 

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