Varicose Vein Treatment Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2727
Varicose Vein Treatment Devices Market is projected to experience significant growth from 2018 to 2024.
Varicose vein treatment devices market size is expected to show a remarkable growth due to rising incidence and prevalence of varicose veins worldwide. Varicose veins is more common among women as well as geriatric population base. According to AHA Journal, around 23% of US adults had varicose veins in 2014. The disease affected more than 22 million women and over 11 million men between 40- 80 years of age in 2014.
Furthermore, technological advancement in the devices used for treatment of varicose veins will spur the varicose vein treatment devices market growth. Availability of patient-friendly devices with increased efficiency and safety will fuel the demand for such devices. For instance, Medtronic’s VenaSeal closure system is a non-thermal, non-tumescent as well as non-sclerosant procedure that uses a medical adhesive that is endovenously delivered to close the vein. This system eliminates the risk of nerve injury during the treatment of small saphenous vein. Development of such devices will upsurge the adoption rate favoring market growth.
Endovenous ablation segment is estimated to witness lucrative growth during the forecast period. Increasing adoption of endovenous laser ablation treatment for treating lower extremity chronic venous disease is a major reason that will drive the market growth during the forecast period. Physician adoption for endovenous laser therapy is increasing in developed countries. Furthermore, increasing number of ABVLM-certified physicians will boost the demand for minimally invasive laser therapy to treat varicose veins. Aforementioned factors will augment the industry growth.
Hospitals segment will show a lucrative growth throughout the analysis timeframe. Rising prevalence of varicose veins, increasing number of hospital visits, availability of advanced healthcare infrastructure as well as fair reimbursement for hospital procedures will propel the growth of the hospitals segment.
U.S. varicose vein treatment devices market accounted for the largest revenue share in 2017 owing to increasing patient population undergoing varicose vein treatment. Rising prevalence of obesity, increasing geriatric population base, and fair reimbursement for minimally invasive procedures will augment regional growth during the forecast timeframe.
Indian varicose vein treatment devices market is estimated to witness lucrative growth over the analysis period due to increasing prevalence of varicose vein among Indian population. According to the Journal of Evolution of Medical and Dental Sciences (JEMDS), prevalence of varicose vein accounted for around 10% in India. Increasing geriatric population base prone to varicose vein coupled and growing awareness among people regarding early treatment will drive the industry growth.
Some of the notable players in the varicose vein treatment devices market include Medtronic, Angio Dynamics, Lumenis, Syneron Medical, Dorner Medtech, Biolitec, Energist, Eufoton, Vascular Solutions, Quanta System, Intermedic, Gigaa Laser, Lingyun Photoelectronic System and Teleflex. The market players focus on strategic partnerships, collaborations, mergers and innovative product launches to expand their product portfolio as main strategies. For instance, Dornier MedTech launched Medilas D FlexiPulse that is a compact, portable, high powered diode laser capable of performing a variety of procedures.
Varicose Vein Treatment Devices Market by Treatment Type, 2013-2024 (USD Million)
- Endovenous Ablation
- Radiofrequency Ablation
- Laser Ablation
- Surgical Ligation & Stripping
Varicose Vein Treatment Devices Market by Product, 2013-2024 (USD Million)
- Ablation Devices
- Venous Closure Products
- Surgical Products
Varicose Vein Treatment Devices Market by End-use, 2013-2024 (USD Million)
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Angio Dynamics
- Syneron Medical
- Dorner Medtech
- Vascular Solutions
- Quanta System
- Gigaa Laser
- Lingyun Photoelectronic System
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