Award-winning consulting firm Fact.MR recently published a report on the global demand of 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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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
Get More Insights- https://www.biospace.com/article/global-venous-procedure-devices-market-to-exceed-valuation-of-us-3-billion-by-2031-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).
Explore Fact.MR’s Coverage on the Healthcare Domain
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Intravascular Catheters Market: The intravascular catheters market is set to witness steady growth during 2021-2031. Demand for intravascular catheters expects to witness steady recovery in the short term, with an optimistic growth outlook in the long run.
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Research Insight: https://www.factmr.com/report/venous-procedure-devices-market
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