Market Trends of Chronic Venous Occlusions Treatment Industry
The Deep Vein Insufficiency Segment is Expected to Drive the Market Growth During the Forecast Period
Chronic venous occlusion treatment therapeutics primarily consist of antibiotics and anticoagulants. These medications aim to either prevent or treat blood clots within blood vessels. Such clots pose severe risks, including stroke, heart attack, deep vein thrombosis, and pulmonary embolism. Anticoagulants prevent clot formation, while thrombolytics dissolve existing clots.
Effective anticoagulants for managing deep venous thrombosis encompass a range, from low molecular weight heparins (LMWHs) like enoxaparin, dalteparin, and tinzaparin to unfractionated heparin (UFH), factor Xa inhibitors, direct thrombin inhibitors, and vitamin K antagonists such as warfarin.
The segment's growth is propelled by the rising adoption of new oral anticoagulants tailored for chronic venous occlusion.
The advent of biosimilars is poised to intensify market competition, driving down the costs of chronic venous occlusion drugs. This cost reduction enhances patient accessibility, directly influencing the segment's growth. In September 2023, Fresenius Kabi Canada achieved public reimbursement approval for ELONOX, its enoxaparin biosimilar, across all Canadian provinces. ELONOX. Health Canada specifically endorsed ELONOX (enoxaparin sodium) for thromboembolic disorder prophylaxis, including deep vein thrombosis. Such reimbursement by health authorities contributes to increased accessibility and adaptability and further propels segmental growth.
The increasing focus on clinical studies targeting deep vein thrombosis is anticipated to be a significant driver for segmental growth. A case in point is Bayer AG, which, in February 2024, initiated a Phase II clinical trial for BAY3018250, an innovative anti-α2 antiplasmin (anti-α2ap) antibody, in DVT patients. The trial's results are expected to highlight the antibody's potential as a crucial treatment avenue for severe medical conditions. Buoyed by these findings, Bayer is keen to advance the antibody to the next phase of clinical trials, with a specific focus on DVT patients. Such initiatives hold promise for patients and bolster the segment's growth.
Therefore, the confluence of factors, including the rise of biosimilars, an uptick in clinical studies for DVT, and strategic moves by major players, like Bayer's new drug trials, is poised to drive significant growth in the segment in the coming years.
North America Dominates the Market During the Forecast Period
North America is poised to dominate the chronic venous occlusion treatment market. It is buoyed by its advanced healthcare infrastructure, high venous disease prevalence, and robust regulatory approvals for medical devices and drugs.
The region's market is witnessing growth, driven by the high prevalence of venous diseases. For instance, in April 2023, the National Institutes of Health (NIH) reported that over 25 million Americans suffer from varicose veins, with a staggering 6 million facing severe venous disease. This highlights the gravity of chronic venous conditions as a significant health concern. The rising burden of these conditions has driven the adoption of chronic venous occlusion treatments, fueling market growth.
Moreover, ongoing clinical trials, such as the VIVID trial in October 2023, which assessed the Duo venous stent system by Koninklijke Philips N.V. for nonmalignant iliofemoral occlusive disease, are set to propel the market further. The Duo system, comprising the Duo Hybrid and Duo Extend stents, caters to the diverse anatomical and mechanical needs of the iliofemoral venous segment. These trials to ensure device efficacy and safety are pivotal for the market's future growth.
Also, the introduction of generic drug variants, like Pharmascience Canada's Pms-rivaroxaban in November 2023, designed for deep vein thrombosis treatment, enhances market accessibility and adaptability. Such launches will drive the market's growth in the coming years.
Given the rising prevalence of cardiovascular and venous diseases, alongside the momentum from ongoing clinical trials and the launch of products, the chronic venous occlusion treatment market is set for substantial growth during the forecast period.
