February 16, 2021

Varicose Vein Treatment Device Market Size – Technological Advancement And Growth Analysis With Forecast To 2027

Industry Trends

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. Increasing demand for minimally invasive procedures to treat varicose veins, along with growing investments by the market players to develop innovative and effective products is likely to boost global varicose veins treatment devices market growth.

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. Surgical procedures for varicose veins are expected to experience significant changes in the near future. Surgery was often substituted for non-invasive alternatives. In recent years, preference for non-invasive surgeries has increased because of the risk of infections associated with invasive surgeries. During the forecast period this aspect is expected to drive the market of varicose vein treatment devices. Non-invasive approaches often require minimal hospital stays as well as the risk of infection, thereby saving time and cost. Over typical surgical methods more surgeons embrace foam sclerotherapy, endovenous laser treatment, and radiofrequency ablation. This is driving the global varicose veins treatment devices market growth.

The segment of endovenous ablation is likely to be experiencing the fastest growth over the forecast period. As the procedure is minimally invasive and associated with fewer complications, the endovenous ablation technique is favoured over traditional procedures such as surgical stripping and ligation. In addition, different market players focus on developing effective and technologically advanced products which are likely to boost market growth.

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In 2019, North America dominated the market in terms of revenue share as it has an aesthetically aware large population base. Owing to the obvious results and health people are willing to undergo cosmetic procedures. North America is an early adopter of technology and the demonstration of laser treatment safety and efficacy has helped to reduce the stigma attached to cosmetic procedures and has helped to gain social acceptance of laser procedures, particularly by men. Due to the presence of a large elderly population, increased disposable income, and increased awareness of these procedures, Asia Pacific is projected to be the fastest growing segment in the coming years. Due to the differing regulatory factors, the market is highly competitive, which results in the disparity in product availability in different countries.

Varicose Veins Treatment Devices Market Revenue & Forecast, (US$ Million), 2015 – 2027

Competitive Landscape

The report provides both, qualitative and quantitative research of varicose veins treatment devices market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.

The market players include: AngioDynamics, Inc.; Medtronic plc; Syneron Medical Ltd.; Biolitec AG; Lumenis Ltd.; Energist Group; Eufoton srl; Quanta Systems S.p.A.; and Teleflex, Inc.

Varicose Veins Treatment Devices Market:

By Type: Endovenous Ablation , Sclerotherapy , Surgical Ligation & Stripping

By Geography:

North America: (U.S, Canada, Mexico, Rest of North America)

Europe: (France, The UK, Spain, Germany, Italy)

Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)

Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)

Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)

Southeast Asia: (Indonesia, Thailand, Singapore)

Rest of Southeast Asia

Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)

Latin America: (Brazil, Argentina, Rest of Latina America)

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