Global Horse chestnut seed extract Market Regional Analysis
North America is expected to hold the dominant position in the global Horse Chestnut Seed Extract Market over the forecast period owing to the increasing prevalence of chronic venous insufficiency in the population. For instance, According to the Wiley online Library, 2017, approximately 1 in 4 adults in the United States have varicose veins in one form or another. Over the age of 50, the prevalence rises to approximately 1 in 2. According to National Center for Biotechnology Information (NCBI), 2018, 1% to 17% of men and 1% to 40% of women may experience chronic venous insufficiency worldwide. According to the same source, there have been low overall prevalence observed in the Asia- Pacific regions.
Horse chestnut seed extract is a plant based medicine and its effective ingredient is extracted from the seed of horse chestnut. It is used for the treatment of chronic venous insufficiency (CVI), which is a condition that occurs when the venous wall and/or valves in the leg veins are not able to transfer the blood from the lower limbs, towards the heart. This results in the blood to collect in these veins, making it difficult for blood to return to the heart from the legs. When the veins and valves are weakened to the point where it is difficult for the blood to flow up to the heart, blood pressure in the veins stays elevated for long periods of time, leading to CVI. CVI occurs due to aging, extended sitting or standing or a combination of aging and reduced mobility. The symptoms are, swelling in the lower legs and ankles, aching or tiredness in the legs, new varicose veins, leathery-looking skin on the legs, flaking or itching skin on the legs or feet, Stasis ulcers.
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Global Horse chestnut seed extract Market Drivers
Leading manufacturers offer the products for the treatment of chronic venous insufficiency in the patients. For instance, Cesra Arzneimittel GmbH & Co. KG is one of the manufacturer of horse chestnut seed extract tablets which has been found effective against chronic venous insufficiency, varicose veins etc.
Increased prevalence of the chronic venous insufficiency is expected to increase the global horse chestnut seed extract market over the forecast period. For instance, according to the journal, Science Direct, 2016, chronic venous insufficiency is 2 times more prevalent than coronary disease and 5 times more prevalent than peripheral arterial disease. The reported rate of CVD ranges from 20% to 60%, and is more common among adults.
According to the same source, early stages of venous reflux may occur in as many as 25% of women and 15% of men while later stages of venous reflux, such as venous ulceration, may occur in 5% of the population. According to NCBI, 2018, during the onset of periods and pregnancy, most of the women are prone to venous insufficiency. Other reasons are standing and sitting for long periods of time, sitting cross legged, obesity, and others. The above factors are expected to boost the global horse chestnut seed extract market over the forecast period.
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Global Horse chestnut seed extract Market Restraints
Presence of alternative treatments for the chronic venous insufficiency is expected to restrain the global horse chestnut seed extract market over the forecast period. For instance, microsclerotherapy is one of the alternative technique which scars the affected vein by injecting sclerosants. Endovenous thermal ablation is another technique which uses high frequency radio waves or laser to heat and permanently close the affected vein. Surgery is another option but very few people opt for surgery for the treatment of venous insufficiency. Some side effects have also been reported with the horse chestnut seed extract tablets intake in the population such as anaphylactic reactions, dizziness, headache, itching, gastrointestinal problems, acute renal failure. These factors are expected to decline the global horse chestnut seed extract market growth over the forecast period.
Prevalence of varicose veins has been reported in the aged population world-wide. For instance, according to NCBI, 2018, when the population was divided into three age groups of 40, 50, and 60 year olds, the prevalence of varicose veins world-wide was 22%, 35%, and 41% respectively. According to the data provided by United Nations.Org (world population prospects: 2019 revision), currently, in 2019, one in 11 people are over the age of 65 (9%). By the year 2050, one in six people in the world will be over age 65 (16%), and one in four persons living in Europe and Northern America could be aged 65 or over and the number of persons aged 80 years or over is projected to triple the current number i.e. from 143 million in 2019 to 426 million in 2050. Therefore the percentage of geriatric population in North America is expected to rise in future. Thus increase in the prevalence of venous insufficiency in population is expected to boost the global horse chestnut seed extract market over the forecast period.
Global Horse chestnut seed extract Market Key Players
Some of the key players operating in the global horse chestnut seed extract market are Cesra Arzneimittel GmbH & Co. KG, Plamed Green Science Group and et-chem.com.
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