The global varicose veins treatment devices market is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.3% during the forecast period. Rising investments by the key healthcare companies to develop innovative and effective products is likely to drive the growth.
Varicose
veins can be unsightly and can lead to considerable discomfort in some cases.
Available treatments for varicose veins have improved since the last few years.
Various healthcare providers are offering minimally invasive techniques such as
radiofrequency ablation and laser therapies. Due to the risk of infections
associated with invasive surgeries, surgical vein stripping methods have been
replaced by noninvasive procedures. Sclerotherapy is the most popular procedure
and is used as a first-line of treatment among endovenous ablation and surgical
stripping.
North
America held the leading market share in terms of revenue in 2018 due to
technological advancements and the fact that about 30 million Americans suffer
from varicose vein each year. In U.S., Medicare provides coverage to the patients
undergoing sclerotherapy treatment for varicose veins, which can increase its
adoption by the care providers and especially by the patients.
Some
market players purchase products from core manufacturers and distribute. For
instance, AngioDynamics, Inc. purchased Asclera from Merz in March 2016.
AngioDynamics announced that it has entered into an agreement with Merz North
America, a part of the global Merz Pharma Group, for the distribution of
Asclera injection within U.S. In another development, Medtronic announced that
the new CPT codes may aid in getting positive coverage for its VenaSeal closure
device from the public and private insurers in U.S. in November 2017.
Development
of innovative products, commercialization, and availability of reimbursements
are some of the strategies undertaken by the market players to strengthen their
position in the varicose veins treatment devices market. In May 2016, Navarro
opened a vein center in U.S. with a vision to educate the community about
chronic venous insufficiency and varicose veins and the proper treatment
options.
Full Research Report On Varicose Veins Treatment Devices Market Visit Here:
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Varicose Veins
Treatment Devices Market Report Highlights
- Sclerotherapy
segment led the market in 2018 due to the advantages of this treatment
such as no scarring; no need for anesthesia; no need for hospital
admission; simple follow-up treatments; and favorable reimbursement
policies
- Endovenous
ablation segment is anticipated to witness the fastest growth over the
forecast period as this treatment is preferred over the conventional
procedures such as surgical stripping and ligation
- Asia Pacific
is expected to be the fastest growing region in the forthcoming years due
to rising awareness about minimally invasive and noninvasive procedures,
rising disposable income levels, and a large base of geriatric population
- Some of the
key players operating in the varicose veins treatment devices market are
AngioDynamics, Inc.; Medtronic plc; Syneron Medical Ltd.; Biolitec AG;
Lumenis Ltd.; Energist Group; Eufoton srl; and Teleflex, Inc.
- In addition,
market players acquire other vascular businesses to boost their own
product portfolio and overall revenue. For instance, Teleflex acquired
Vascular Solutions, Inc. in 2017.
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Varicose Veins
Treatment Devices Market Segmentation
Grand View Research has
segmented the varicose veins treatment devices market based on type and region:
Varicose Veins
Treatment Devices Type Outlook (Revenue, USD Million, 2014 - 2025)
- Endovenous Ablation
- Endovenous Laser Therapy
- Radiofrequency Ablation
- Sclerotherapy
- Surgical Ligation & Stripping
Varicose Veins
Treatment Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
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.
For more info visit @ https://www.grandviewresearch.com
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