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.
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
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