The global varicose veins treatment devices market size was valued at around USD 1.5 billion in 2018 and is expected to expand at a CAGR of 6.3% over the forecast period 2020-2026. Rising investments by healthcare companies to develop innovative and effective products is likely to drive the growth.
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Varicose veins can be aesthetically displeasing. They become problematic only in case they cause pain, aching, swelling, and considerable discomfort. In severe cases, they may rupture and can lead to ulcers. Available options for the treatment of this condition have evolved over the last few years. Majority of the private healthcare providers are offering improved minimally invasive techniques.
Elderly population is more prone to the development of varicose veins. Effect of aging on the structure and functions of the veins is found to be considerable. Over the age of 50, one out of every two people is affected by varicose vein. Overweight people and pregnant women are also susceptible to developing this condition. Some of the treatments available in the market include sclerotherapy, laser therapy, and radiofrequency ablation. Of these, sclerotherapy is preferred as a first-line of treatment for varicose, spider, and reticular veins.
Varicose veins surgical procedures are likely to undergo significant changes in near future. Surgery has been largely replaced by noninvasive options. Due to the risk of infections associated with invasive surgeries, preference for noninvasive surgeries has increased in recent years. This factor is projected to drive the varicose veins treatment devices market during the forecast period.