Award-winning consulting firm Fact.MR recently published a report on the global venous procedure devices market, for the forecast period 2021-2031. According to the study, the market is projected to surpass US$ 3 billion in value by the end of the aforementioned forecast period (2021 to 2031), expanding at a CAGR of around 6%. Growth is majorly influenced by an increase in vascular disease procedures.
Historically, the market posted credible gains, being valued at around US$ 2 billion in 2019. A host of established as well as incumbent market players are scrambling to secure a firm footing in the landscape. AIincreasing number of startups are capitalizing on incremental opportunities presented by key segments across the venous procedure devices market.
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Inari Medical, for instance, offers the Flow Triever catheter-based thrombectomy device shown to extract significant amounts of clot from large blood vessels. It has a self-expanding Nitinol framework designed to engage, disrupt and remove emboli from blood vessels with minimal trauma. Likewise, Silk Road Medical produces devices for Transcarotid artery revascularization (TAR) procedure for carotid artery disease. Its products include the EnRoute Transcarotid Neuroprotection and the EnRoute Stent system.
Key Takeaways from Market Study
- By product, central venous catheters to experience sharp incline amid greater effectiveness
- By application, chest venous procedure devices to remain dominant, abdomen devices uptake expanding rapidly
- Venous procedure devices for vascular diseases will experience robust incline through 2031
- By end user, hospitals to remain primary source of venous procedure devices implanting
- The U.S. to emerge as a potential growth hotspot amid increased prevalence of peripheral arterial disease
- India to cement its dominance across the South Asian market
“Purpose-built venous stents offer promising growth prospects, attributed to their ability to achieve efficient arterial pulsation and mobility for treating occlusion diseases. Hence, prominent manufacturers are collaborating with medical technology consulting firms to deepen their outreach,”comments a Fact.MR analyst.
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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
- Venous Stents
- 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
- Venous Procedure Devices for Vascular Diseases
- 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)
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Competitive Landscape
Medtronic Plc., Abbott Laboratories, Cook Medical, Cardinal Health, Becton Dickinson & Co. (BD), Terumo Corporation, Boston Scientific Corporation and Teleflex are some prominent venous procedure devices manufacturers. Most players rely on introducing new devices post regulatory approvals across key geographies, in addition to other expansion strategies such as collaborations, mergers & acquisitions and partnerships respectively.
- For instance, in May 2019, Cordis, a Cardinal Health company, announced the full US launch of its RADIAL 360 portfolio, offering a complete range of products to facilitate the tranradial approach (TRA) for interventional cardiology. The portfolio consists of RAIN SheathTM Transradial Thin-Walled Introducer, RAILWAYTM Sheathless Access System and the ZEPHYR® Vascular Compression Brand among others
- In April 2021, Becton Dickinson (BD) announced enrollment in its post-market studies of the WavelinQTM Arteriovenous Endovascular Fistula device which uses concomitant ulnar artery and ulnar vein in patients suffering from chronic kidney diseases, expected to enroll 280 participants through 30 days
For More Insights https://www.biospace.com/article/new-product-developments-in-biologics-will-turn-game-changer-for-acromegaly-treatment-market-expects-fact-mr/
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the venous procedure devices market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (stents, catheters, and others), application (leg, chest, abdomen, and arm), indication (vascular diseases and cancer), and end user (hospitals, ambulatory surgical centers, specialty clinics, and others) across five major regions of the world (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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