Varicose Veins Treatment Market is segmented by Product Type (Ablation Devices, Catheters / Kits for Sclerotherapy & Adhesion Injection, Compression Devices / Garments, Others); Treatment Type (Endovenous Ablation, Sclerotherapy/Adhesion Injection, Ligation/Stripping, Supportive Treatment); Disease Type (Greater Saphenous Varicose Veins, Small Saphenous Varicose Veins, Others); End-user (Hospitals & Ambulatory Surgical Centers, Specialty Clinics, Others); By Geography (North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Nordic Region, Rest of Europe), Asia Pacific (China, Japan, India, Australia, Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of Latin America), Middle East & Africa (South Africa, Rest of the Middle East & Africa)
The Varicose Veins Treatment Market was valued at US $xxx billion in 2022 and is projected to reach US $xxx billion by 2032, growing at a CAGR of xxx% during the forecast period.
Self-care measures such as compression garments, exercise, and medical procedures/surgeries, as well as technology, are used to treat varicose veins. Endovenous ablation (varicose vein surgery), sclerotherapy/adhesion injection, ligation/stripping, and supporting therapy are all used to treat varicose veins. Most pharmacies and medical supply businesses carry compression stockings. If varicose veins are causing problems, prescription-strength stockings are also available and may be reimbursed by insurance. Varicose veins are more frequent in women and older people. According to a report published in the Journal of the American Heart Association, roughly 23% of individuals in the United States have varicose veins. This is expected to boost the market growth.
Technical Advancements in Treatments Devices drive Market Growth.
Continuous advances in varicose vein treatment technologies, as well as an increase in the frequency of varicose vein sickness, are expected to boost the worldwide market. Because it increases blood circulation by providing mild pressure, the usage of a compression machine to alleviate varicose veins has gained in popularity. Furthermore, many benefits of Laser therapy, including a painless 30-minute process, low risk of recurrence, little invasion, rapid recovery, and so on, are expected to aid the expansion of the Varicose Veins Treatment Market during the forecast year. According to the Occupational Safety and Health Research Institute, the frequency of lower limb varicose veins ranges between 10% and 30% worldwide. Furthermore, technology advancements and modernization in healthcare equipment enhanced research and development activities in the healthcare industry throughout the anticipated period. Increased expansion in emerging regions will provide profitable prospects for the Varicose Veins Treatment Market in the near future.
Laser Ablation Devices are Expected to Grow Market Significantly During the Forecast Period
Laser ablation therapy does not need extensive hospital stays or suffering during the rehabilitation process, which gives considerable benefits to varicose vein sufferers. Lasers have seen significant use in the treatment of varicose veins as a result of innovative technologies and developments in research efforts by major players in the examined industry. Doctors can use laser ablation technology to shut tiny varicose and spider veins. This therapy includes directing intense bursts of light at the afflicted veins, causing them to diminish or vanish. The usage of laser therapy is expanding in industrialized countries because of rising healthcare costs and a growing preference for non-invasive techniques. There is fierce rivalry among local varicose vein laser producers. With the anticipated developments in lasers and the convenience of treatment that they enable, the industry is projected to increase in the future.
High Costs and Associated risks limit Market Expansion.
The market is expected to grow gradually throughout the projected period, owing to technological developments and a growing emphasis on strengthening the healthcare system. The market, however, is expected to be limited by the high pricing and risks involved with vein surgical therapies. For example, if the numbing fluid or local anesthetic used causes an allergic response, infection at or near the site of the incision, protracted numbness near the surgical site may consequence in nerve damage, a lot of blood, visible scars, blood clots, damage to the vein or the tissues surrounding it, there are a number of factors that could slow market growth. Furthermore, risk factors associated with treatment technologies, as well as high procedural costs and a conflicting reimbursement system, are some substantial factors that impede Varicose Veins Treatment Economic growth and will face a further shield to Varicose Veins Treatment Market growth during the forecast period.
Increase in Hospital and Ambulatory Surgery Center Admissions for Venous Insufficiency Treatment
The number of hospitalizations for varicose vein therapy and the breadth of treatments provided by hospitals at a single location are increasing. Ambulatory Surgery Centers (ASCs) have the potential to increase quality and customer service while lowering healthcare expenditures. The ASC industry is ahead of the curve in discovering promising options for improving healthcare delivery. The category is predicted to grow due to an increase in the number of hospitals and ASCs, as well as substantially greater performance and adoption of varicose vein procedures in these settings. Varicose vein surgery procedures are anticipated to evolve significantly. Noninvasive alternatives have mostly supplanted surgery. Because of the danger of infection connected with invasive surgery, noninvasive surgeries have gained popularity in recent years. During the forecast period, this factor is expected to boost the market. Aside from the danger of infection, noninvasive procedures need shorter hospital stays, saving time and money. Sclerotherapy, endovenous laser treatment, and laser therapy are becoming more popular among surgeons as alternatives to traditional surgical procedures.
North America holds the dominant position in the growing demand for Varicose Veins Treatment Market
North America has the greatest market share in the study, and this trend is projected to continue during the projection period. The presence of prominent companies in the industry, as well as advanced healthcare systems in countries such as the United States, are important factors driving the expansion of the varicose veins treatment market in North America. Furthermore, because of the advantageous reimbursement scenario, consumers in the United States may afford this treatment. In the United States, around 23% of individuals have varicose veins. When spider telangiectasias and reticular veins are included, the frequency in men climbs to 80% and in women to 85%. The United States of America was discovered to be one in every 22. Thus, the rising prevalence of varicose veins in the American population is likely to boost the North American market throughout the forecast period. However, different market expansion methods used by leading market players such as product introduction, merger and acquisition, cooperation, and others are expected to increase the market in the area.
Top Companies and Recent Strategic Developments in the Varicose Veins Treatment Market
• In June 2022, VVT Medical struck a distribution deal with Getz Healthcare, an Asia Pacific medical technology distributor. Getz will distribute VVT Medicals goods in Australia, New Zealand, and Hong Kong, according to the conditions of the deal.
• In October 2021, Venclose Inc., a privately held medical device firm based in Silicon Valley, received FDA 510(k) approval for Venclose Maven, a revolutionary radiofrequency ablation (RFA) catheter for the minimally invasive treatment of incompetent perforator veins (IPVs).
• In April 2021, Medtronic plc, Medtronic has begun an Investigation Device Exemption (IDE) study to determine the efficacy and safety of the Abre venous self-expanding stent device, which is used to treat deep venous disorders.
• In November 2020, Pfizer, Inc. finalized the spin-off of its Upjohn Business and merged it with Mylan N.V. to become Viatris, Inc. The goal of the merger was to create a new brand that would distinguish the new firm and describe the organizations position within the global healthcare market.
Years considered for this report
• Historical Years: 2019-2022
• Base Year: 2021
• Forecast Period: 2022-2032
Varicose Veins Treatment Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2032)
• Data breakdown for application Industries (2022 - 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Varicose Veins Treatment Market Segmentation and Revenue Breakdown
By Product Type (Revenue, USD Billion, 2022 -2032)
• Ablation Devices
• Catheters / Kits for Sclerotherapy & Adhesion Injection
• Compression Devices / Garments
By Treatment Type (Revenue, USD Billion, 2022 -2032)
• Endovenous Ablation
• Sclerotherapy/Adhesion Injection
• Supportive Treatment
By Disease Type (Revenue, USD Billion, 2022 -2032)
• Greater Saphenous Varicose Veins
• Small saphenous Varicose Veins
By End-use Outlook (Revenue, USD Billion, 2022 -2032)
• Hospitals & Ambulatory Surgical
• Specialty Clinics
By Geography Outlook (Revenue, USD Billion, 2022 -2032)
• North America (U.S., Canada)
• Europe (Germany, France, U.K., Italy, Spain, Nordic Region, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (South Africa, Rest of the Middle East & Africa)
• AngioDynamics, Inc.
• Boston Scientific Corporation (BTG International Inc.)
• DJO, LLC (Enovis Corporation)
• Essity Aktiebolag (publ) (BSN Medical)
• F Care Systems NV
• Medtronic plc
• Miravas (IPSA Group)
• Mylan N.V. (Viatris, Inc.)
• SIGVARIS Group
• Teleflex Incorporated
• VVT Medical
• WON TECH Co., Ltd.
Available Versions of Global Varicose Veins Treatment Market Report:
The United States Varicose Veins Treatment Market Report
Europe Varicose Veins Treatment Market Report
Asia Pacific Varicose Veins Treatment Market Report
India Varicose Veins Treatment Market Report
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