The varicose
veins treatment market refers to the market for products and services used to
treat varicose veins. Varicose veins are enlarged and twisted veins that can be
seen through the skin, most commonly in the legs. They can cause discomfort,
pain, and swelling, and can be a sign of a more serious underlying condition.
The global varicose veins treatment device market was estimated at USD 2.2 billion
in 2032, and is speculated to be surging at a CAGR of 6% during the forecast
period (2023–2032), says Market Research Future (MRFR).
The varicose veins treatment market is a
rapidly growing market that is driven by an increase in the prevalence of
varicose veins worldwide. Varicose veins are enlarged, swollen, and twisted
veins that are visible just below the surface of the skin, usually in the legs.
The market is primarily driven by the increasing demand for minimally invasive
procedures and the rising adoption of new and innovative treatment options.
Market Drivers and
Top Barriers
According to reports, roughly 24% of adults
in the United States (U.S) suffer from varicose veins, with approximately 6%
afflicted with more advanced chronic venous diseases, like hyperpigmentation,
healed and active ulcer. In general, the elderly population is comparatively
more prone to varicose veins compared with other age groups. There is
considerable effect of aging on the functions and the structure of the veins,
leading to excruciating pain and discomfort. It is estimated that above the age
of 50, at least one out of two people is affected by varicose veins. Obese
people as well as pregnant women are also found to be susceptible to this
condition. These factors have made way for the introduction of various
treatments that are now available in the market, including laser therapy,
radiofrequency ablation and sclerotherapy. Among these, the treatment method of
sclerotherapy is highly popular as a first line of treatment for varicose, in
addition to reticular and spider veins.
Besides, rising demand for minimally
invasive procedures for the treatment of varicose veins, coupled with the
increasing investments by the renowned players for the development of
innovative and effective products will prove to be beneficial for the market in
the long run. As varicose veins are aesthetically displeasing, they can be
problematic in case they cause aching, pain, swelling, and substantial
discomfort. In extreme situations, these veins can even rupture, resulting in
ulcers. At present, most of the private healthcare providers are providing
enhanced minimally invasive techniques.
Moreover, varicose veins surgical
procedures are bound to undergo tremendous changes in the coming years, with
surgery being largely replaced by noninvasive procedures. On account of the
risk of infections linked with invasive surgeries, preference for noninvasive
surgeries has surged in the past couple of years. Thus, the sum of these
factors is expected to provide a significant push to the varicose vein
treatment market, garnering massive revenue in the process.
Industry Trend
Advancements in
Technology
The latest developments in varicose vein
treatment, technology-wise, include intense-pulsed-light therapy, laser ablation systems,
radiofrequency systems, ultrasound guided systems and incorporation of closure
systems. These technologies serve a host of benefits like faster recovery
rates, fewer incisions, less patient trauma, higher success rates, improved efficacy,
fewer post-operative complications and reduced adverse side effects.
Market Segmentation
The market for varicose veins treatment is
segmented on the basis of type, product type and end user.
The market, depending on the type, has been
considered for endovenous ablation, sclerotherapy, surgical ligation, and
stripping and laser ablations. The sclerotherapy segment has picked immense
speed, launching it ahead of other types of treatments. This holds true on the
basis of various benefits this treatment offers, such as less bruising and
scarring; no need for prolonged hospital stay, no need for sedation; positive
reimbursement policies as well as simple follow-up treatments.
The product-wise segments in the market are
ablation devices, venous closure products and surgical products. Ablation
devices are reckoned to be the dominating segment among all the products in the
global market, on account of their minimal invasive nature as well as speedy
recovery. Furthermore, venous closure products are predicted to rise at the
fastest growth rate.
The market, by end user, has been segmented
into hospitals, specialized clinics, ambulatory surgical centers and others.
Regional Outlook
The market for varicose veins treatment is
spread across the prominent regions of the Americas, Asia Pacific, Middle East
& Africa and Europe.
The Americas consists of smaller regional
markets of North America and South America for varicose veins treatment, where
the market in North America is divided into the United States (US) and Canada.
North America has launched into a clear leader in the global varicose vein
treatment market, with the backing of a number of factors including constantly
changing lifestyle, well-established health care infrastructure, rising health
care awareness, growing prevalence of varicose veins, increasing government
spending, high disposable income, and increasing importance of esthetics. Other
than this, supportive reimbursement policies, particularly in the U.S., have
set in motion the successful trajectory of the regional market.
The varicose veins treatment device market
in Europe is spread across Easter Europe and Western Europe, where Western
Europe is split into the countries of France, Germany, the United Kingdom (UK),
Spain, Italy, and the rest of Western Europe. High operative success rates,
elevating patient compliance and reliability, increasing healthcare
expenditure, along with the speedy growth in geriatric populace will create
commercial opportunities for the regional market in the near future.
The Asia Pacific varicose veins treatment
market is split into India, China, Japan, Australia, South Korea, and the rest
of the region. This is an opportune time for the region, as evident by the
increasing patient awareness, upward trend in the adoption of unhealthy
lifestyles, growing disposable income, and the growing benefits of early
treatments for varicose vein cases. The consistent and healthy growth of the
region will be apparent throughout the review period, with the strong support
from all these factors.
The Middle East & Africa varicose veins
treatment device market is fragmented into Middle East and Africa, and is
primarily driven by improving patient compliance on account of introduction of
durable and reliable techniques, as well as the constant efforts to improve the
healthcare infrastructure.
Companied Covered
The global varicose veins treatment market players are Merz North America Inc.,
Syneron Medical Ltd., AngioDynamics, Energist Ltd., Sciton Inc, Teleflex
Incorporated, Eufoton s.r.l., Quanta System, Medtronic, Scranton Gillette
Communications, Dornier MedTech, Fotona d.o.o., Lumenis, BTG International
Ltd., biolitec AG
Latest News
May 2018
U.S – A new method of treatment called
varithena has been developed, which helps block the varicose veins from causing
further issues. This treatment entails closing off the varicose veins, which
result in reduction of the chances of augmenting health issues and blood clots,
usually caused by this disease.
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