Author: Himanshu Patni
21 November 2022
The Varicose Veins Treatment marketis expected to witness a CAGR of around 6% during the forecast period. The varicose vein is defined as twisted and enlarged veins; any vein that is close to the skin can become varicose. Varicose veins most commonly affect the veins in the legs. That’s because of high blood pressure levels in the veins of the lower body or other factors such as the rising geriatric population, genetic disorders, pregnancy, and obesity. For instance, according to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice what it was in 1980 at 382 million. The number of the elderly population is expected to double again by 2050 and reach nearly 2.1 billion worldwide.
The covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The COVID-19 pandemic has significantly affected the healthcare sector also, the worldwide lockdown and restrictions, leading to the shutdown of the manufacturing unit, and limitations on the manufacturing and distribution of medical equipment. Furthermore, the healthcare facilities were only treating emergency cases and postpended the inessential appointments.
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Based on device, the market has been categorized into sclerotherapy injection, ablation devices, venous closure systems, surgical products, and others. Amongst, the sclerotherapy injection category is expected to witness significant growth during the forecast period. Varicose veins frequently indicate various comorbidities that are related to them, such as circulatory problems, obesity complications, and deep vein thrombosis (DVT). Moreover, rising r&d projects and new developments will boost the varicose veins treatment market during the forecast period. For instance, in March 2021, Medtronic launched an Investigation Device Exemption (IDE) study to determine the effectiveness and safety of the Abre venous self-expanding stent system to be used in the treatment of deep venous diseases.
Based on treatment type, the market has been segmented into sclerotherapy, laser ablation, endovenous ablation, radiofrequency ablation, and others. Among them, the sclerotherapy category is expected to have a significant growth rate in the market. This is mainly due to less bruising and scarring, no need for sedation, reduced hospital stays, simple follow-up treatments, and positive reimbursement policies. These factors are responsible for the growth of this segment.
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Based on end-user, the market has been segmented into hospitals & clinics, ambulatory surgical centers, and others. Among them, the hospitals & surgical centers segment is expected to have the fastest growth rate in the market. This is mainly due to the availability of skilled healthcare professionals, and the safety & efficacy during the treatment procedures. Moreover, the rising chronic venous disorder among adults globally. For instance, an article published in the Journal of Family Medicine and Primary Care stated that the prevalence of varicose veins varies from 10% to 60% of the population across the world.
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. North America holds a lucrative market share owing to higher per capita income and the rising growing patient pool in the region, growing healthcare expenditure, and the availability of major key players in the region attributed to the growth of the market in the regions. These factors are contributing to the growth of this market in the region.
Some of the major players operating in the market include AngioDynamics, Alma Lasers, BTG International Inc, Energist, Lumenis, Medtronic plc, Sciton Inc, Syneron Medical Ltd, WON TECH Co. Ltd, Teleflex Incorporated
Varicose Veins Treatment Market Segmentation
Market Insight, By Device
Market Insight, By Treatment Type
• Sclerotherapy
• Laser Ablation• Endovenous Ablation• Radiofrequency Ablation• Others
Market Insight, By End-User
Market Insight, By Region
Top Company Profiles
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