Chronic Venous Insufficiency Market to Show Immense Growth at a CAGR of 9.5% by 2034 | DelveInsight

The market size of chronic venous insufficiency is expected to increase during the forecast period with the increasing prevalence, disease awareness, and promising emerging treatment options by leading companies such as Verigraft AB, enVVeno Medical Corporation, Theraclion, and others.

LAS VEGAS, Sept. 4, 2024 /PRNewswire/ -- DelveInsight's Chronic Venous Insufficiency Market Insights report includes a comprehensive understanding of current treatment practices, chronic venous insufficiency emerging drugs/devices, market share of individual therapies/devices, and current and forecasted market size from 2020 to 2034, segmented into 7MM [the United States, the EU4 (Germany, France, Italy, and Spain) and the United Kingdom, and Japan]. 

Key Takeaways from the Chronic Venous Insufficiency Market Report

• According to DelveInsight's analysis, the market size for chronic venous insufficiency was found to be ~USD 2 billion in the 7MM in 2023.
• Among all the non-pharmacological treatments, laser ablation/radiofrequency ablation is expected to generate the highest revenue followed by Surgery in the 7MM by 2034.
• In the 7MM, the US accounted for the highest number of prevalent cases of chronic venous insufficiency, with nearly 17 million in 2023.
• Leading chronic venous insufficiency companies such as Verigraft AB, enVVeno Medical Corporation, Theraclion, and others are developing novel chronic venous insufficiency drugs and devices that can be available in the chronic venous insufficiency market in the coming years.
• The promising chronic venous insufficiency therapies/devices in the pipeline include P-TEV, VenoValve, EnVVe, SONOVEIN, and others.
• In August 2023, Medtronic announced that an updated ClosureFast radiofrequency ablation (RFA) catheter in a lower 6-F profile received FDA 510(k) clearance and is now available in the United States for the treatment of CVI.

Discover which therapies are expected to grab the major chronic venous insufficiency market share @ Chronic Venous Insufficiency Market Report

Chronic Venous Insufficiency Overview

Chronic venous disease (CVD) is a common condition that affects the venous system, particularly the veins in the lower limbs. It includes a range of venous disorders, from minor cosmetic issues such as spider veins to more severe, debilitating conditions like venous ulcers. Chronic venous insufficiency (CVI) represents the more advanced stages of CVD, a widespread and persistent condition where impaired blood flow in the superficial or deep veins results in increased venous pressure, known as venous hypertension. This condition leads to various pathological changes, such as swelling in the lower legs, skin alterations, and discomfort, all stemming from elevated venous pressure.

The diagnosis of chronic venous insufficiency relies on a mix of clinical observations and supporting diagnostic tests. The main method for diagnosing CVI is venous duplex ultrasound, a noninvasive imaging technique that offers detailed insights into blood flow and venous structure. Clinically, CVI often presents with symptoms like dependent pitting edema, leg discomfort, fatigue, and itching.

Chronic Venous Insufficiency Epidemiology Segmentation

The chronic venous insufficiency epidemiology section provides insights into the historical and current chronic venous insufficiency patient pool and forecasted trends for the 7MM. It helps recognize the causes of current and forecasted patient trends by exploring numerous studies and views of key opinion leaders.

The chronic venous insufficiency market report proffers epidemiological analysis for the study period 2020–2034 in the 7MM segmented into:

• Total Chronic Venous Insufficiency Prevalent Cases
• Chronic Venous Insufficiency Gender-specific Cases
• Chronic Venous Insufficiency Stage-specific Cases 
• Chronic Venous Insufficiency Treatable Cases 

Chronic Venous Insufficiency Treatment Market 

Managing chronic venous insufficiency requires a combination of approaches to reduce symptoms and enhance vein function. These may include lifestyle modifications, compression therapy, medications, and minimally invasive treatments such as sclerotherapy or endovenous ablation, which focus on varicose veins. In more severe cases, surgical options like vein ligation or bypass surgery might be needed. Ongoing monitoring and proper wound care are crucial aspects of effective CVI management.

RHEACELL, a German biopharmaceutical company specializing in the clinical development of innovative stem cell therapies, has received national approval under the German Medicinal Products Act for its new cell therapy product, AMESANAR. This Advanced Therapy Medicinal Product (ATMP) is composed of allogeneic ABCB5-positive mesenchymal stromal cells and is intended for use in patients suffering from chronic wounds due to chronic venous insufficiency.

Sky Medical Technology has obtained US FDA 510(k) clearance to market the new GEKO device variant (W3), designed to enhance microcirculatory blood flow in the lower limb soft tissue of patients with venous insufficiency, a condition that can develop into chronic venous insufficiency.

The VENCLOSE System, recently acquired by Becton Dickinson, is the newest heat-based treatment for chronic venous insufficiency. This minimally invasive outpatient procedure features a smaller catheter entry point and utilizes proven technology. It is currently available in both the US and Europe.

To know more about chronic venous insufficiency treatment guidelines, visit @ Chronic Venous Insufficiency Management 

Chronic Venous Insufficiency Pipeline Therapies/Devices and Key Companies

• P-TEV: Verigraft AB
• VenoValve: enVVeno Medical Corporation
• EnVVe: enVVeno Medical Corporation
• SONOVEIN: Theraclion

Discover more about chronic venous insufficiency drugs in development @ Chronic Venous Insufficiency Clinical Trials 

Chronic Venous Insufficiency Market Dynamics

The chronic venous insufficiency market dynamics are expected to change in the coming years. The significant increase in the prevalent population of CVI, coupled with easier access to current therapies like compression therapy and antibiotics, presents a substantial market opportunity. The lack of efficacious medications or therapies further enhances this potential, allowing emerging companies to innovate and leave an impactful mark on patients' lives. Additionally, increased public awareness creates a lucrative environment for the development of new therapeutics to drive the CVI market in the long run.

Furthermore, potential therapies and devices are being investigated for the treatment of chronic venous insufficiency, and it is safe to predict that the treatment space will significantly impact the chronic venous insufficiency market during the forecast period. Moreover, the anticipated introduction of emerging therapies and devices with improved efficacy and a further improvement in the diagnosis rate are expected to drive the growth of the chronic venous insufficiency market in the 7MM.

However several factors may impede the growth of the chronic venous insufficiency market. Emerging treatments for CVI, such as stem cell therapy and skin grafting, are likely to be costly, especially since no specific biomarkers are available for diagnosis, and no single best medication or therapy exists to reduce recurrence. Many current treatments remain off-label, often favoring over-the-counter options, which may pose a threat to the adoption of newer approved drugs due to their higher costs.

Moreover, chronic venous insufficiency treatment poses a significant economic burden and disrupts patients' overall well-being and QOL. Furthermore, chronic venous insufficiency market growth may be offset by failures and discontinuation of emerging therapies, unaffordable pricing, market access and reimbursement issues, and a shortage of healthcare specialists. In addition, the undiagnosed, unreported cases and the unawareness about the disease may also impact chronic venous insufficiency market growth.

Scope of the Chronic Venous Insufficiency Market Report

• Therapeutic Assessment: Chronic Venous Insufficiency current marketed and emerging therapies
• Chronic Venous Insufficiency Market Dynamics: Key Market Forecast Assumptions of Emerging Chronic Venous Insufficiency Drugs and Market Outlook
• Competitive Intelligence Analysis: SWOT analysis and Market entry strategies
• Unmet Needs, KOL's views, Analyst's views, Chronic Venous Insufficiency Market Access and Reimbursement

Download the report to understand which factors are driving chronic venous insufficiency market trends @ Chronic Venous Insufficiency Market Trends

Table of Contents

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SOURCE DelveInsight Business Research, LLP