The global varicose vein treatment market is expected to
reach USD 475 million by 2024, according to a new report by Grand View
Research, Inc. The increasing technological advancements coupled with the
increased availability of the advanced varicose vein treatment devices and
shift towards less-invasive procedures are the contributing factors for the
growth of the market.
The huge burden of vascular diseases in Europe
and North America and the increasing patient compliance and reliability, growth
in healthcare expenditure, and the rapid growth in geriatric population is
majorly driving the varicose vein procedure market.
The upward trend in lifestyle disorders, such
as increasing obesity, sleep disorders, blood pressure levels, hormonal
changes, genetic disorders and pregnancy are the few major factors contributing
to the peripheral vascular diseases. Untreated venous insufficiency, such as
varicose vein and venous ulcers cause progressive syndromes including chronic
veinous insufficiency. In 2015, according to FutSci, chronic veinous
insufficiency is widespread and is a socially isolating condition caused in
adults. It is the most common disease in the world and is estimated to affect
5% of the population in the Western countries.
Browse full research report on Varicose
Vein Treatment Market:
https://www.grandviewresearch.com/industry-analysis/varicose-vein-treatment-devices-market
Further key
findings from the report suggest:
- In 2015, the sclerotherapy segment was
identified as the most profitable procedure owing to the benefits, such as
the requirement of minimal incision and reduced scarring, related to the
procedure. Moreover,the following advantages: increased penetration, cost
and time efficiency, reduced risk of collateral damage to surrounding
tissues, fewer post-operative complications, and painless procedure are
the main contributors for the growth of this segment.
- The endovenous ablation segment is expected to
be the fastest growing segment due to the benefits of short treatment time
and improved blood circulation after the procedure. The ClosureFast
technique in the endovenous ablation treatment segmenthas gained momentum
due to the minimized side effects, potential cost-saving ability, and
better patient outcomes.
- In 2015, the endovenous chemoablation or
chemical sclerosis segment was the most widely used medical procedure
among the ablation procedures. Sclerotherapy, intense-pulsed-light
therapy, laser ablation, radiofrequency, and ambulatory phlebectomy are
the modern techniques that are usedmore oftendue to their less invasive
nature.
- In 2016, North America held the largest market
share due to the increasing incidence rate of varicose and spider vein in
the population, favourable reimbursement policies, increased healthcare
awareness, government spending, and the rising aesthetic awareness in the
region
- As of 2016, Europe is characterized by a shift
towards less-invasive procedures in treating large varicose veins. It is
expected to witness a high growth rate over the forecast period due to the
favorable government initiatives and advanced treatment procedures.
- The Asia Pacific is expected to register the
fastest growth due to factors, such as the improving healthcare
infrastructure, the increase in patient awareness level regarding the
benefits of early treatment of the varicose veins, and the rising
disposable income
- Some key players of the market include Quanta
Systems S.p.A, Vascular Solutions, Inc., Eufoton S.R.L, Energist Group,
Medtronic plc, Dornier MedTech GmbH, Lumenis Ltd., Syneron Medical Ltd.,
Biolitec AG, and AngioDynamics, Inc.
- AngioDynamics, Inc. and MerzPharma GmbH &
Co. KGaAin North America established a multi-year relationship to market
Asclera for patients with peripheral vascular diseases.In the
U.S,.MerzPharma GmbH & Co. KGaAserves as the exclusive distributor of
the Asclera Injection. Asclera is approved for the treatment of spider and
reticular veins, which showed good improvement in 95% of the patients
treated with asclera.
- In 2016, Medtronic plc acquired Italian
hemodialysis player Bellco, Inc.This acquisition is projected to enable
the medical device giant to gain market position in newly formed renal
care solution business.
- In 2015, Medtronic plc acquired Covidien plc
with the objective to move into the additional therapeutic areas, such as
chronic venous insufficiency. Covidien plc markets the Venefit procedure
that uses radiofrequency energy and minimally invasive radiofrequency
ablation to treat the disease.
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Grand
View Research has segmented the global varicose vein treatment market on the
basis of procedures, devices,and regions:
Varicose Vein
Treatment Outlook ByType (Revenue, USD Million, 2013 - 2024)
- Sclerotherapy
- Endovenous Ablation
- Laser Ablation
- Radiofrequency
Ablation
- Stripping
Varicose Vein
Treatment Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- Rest of Asia
Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin
America
- MEA
- South Africa
- Rest of MEA
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
