Global demand for Varicose Vein Treatment Market was valued at approximately USD 1237.8 Million in 2018, and is expected to generate revenue of around USD 1788.4 Million by end of 2025, growing at a CAGR of around 5.48 % between 2018 and 2025.
Varicose Vein Treatment Market
The report covers forecast and analysis for the Varicose Vein Treatment market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Varicose Vein Treatment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Varicose Vein Treatment market on a global level. In order to give the users of this report a comprehensive view on the Varicose Vein Treatment market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Procedure, Product, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Varicose Vein Treatment Market was valued at approximately USD 1237.8 Million in 2018, and is expected to generate revenue of around USD 1788.4 Million by end of 2025, growing at a CAGR of around 5.48 % between 2018 and 2025.
Varicose veins are bulky, puffy veins that appear frequently on the legs and feet. These arise when the valves in the veins are not working properly, because blood is not circulating efficiently. The veins rarely need treatment for health reasons, but if swelling, aching, and painful legs result, and if there is considerable discomfort, treatment is available. If the patient does not have any signs or pain and the sight of the varicose veins does not bother, care may not be needed. When signs may occur, however, care may be needed to reduce pain or discomfort, resolve complications such as leg ulcers, skin discoloration, or swelling.
The study provides a decisive view on the Varicose Vein Treatment market by segmenting the market based on Procedure, Product, route of administration, end user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on procedure, the market is segmented into Injection Sclerotherapy, Endovenous Ablation, and Surgical Ligation/Stripping. Sclerotherapy is a non-invasive technique involving the injection into the veins of a foam sclerosant. It's less painful because it doesn't involve vein cutting. Patient healing is quicker as it does not require admission to the hospital. In addition, Medicare provides coverage in the U.S. for patients undergoing treatment with sclerotherapy. Due to various advantages of this procedure, including less bleeding and scarring; no need for sedation; no need for extended hospital stay, quick follow-up procedures and supportive reimbursement policies, the sclerotherapy category accounted for the largest market share in 2018. Use foam Sodium Tetradecyl Sulfate (STS) in Sclerotherapy has brought creativity to the treatment and long-term progress.
Based on the Product, the market is bifurcated Ablation Devices, Radiofrequency Ablation Devices, Laser Ablation Devices and Venous Closure Products. Over the forecast period, the endovenous ablation segment is likely to see the fastest growth. 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, various market players are focused on developing efficient and technologically advanced products that are likely to boost the growth of the market.
The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America led the market in terms of revenue share as it has an aesthetically conscious large population base. Because of the obvious results and safety, 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 associated with cosmetic procedures and has helped to gain social acceptance for 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 various regulatory factors, the market is highly diverse, resulting in the difference in product availability in different countries.
The elderly are more likely to develop varicose veins. It is found that the impact of aging on the vein structure and functions is significant. Varicose vein affects one in every two people over the age of 50. It is also common for overweight people and pregnant women to develop this disease. Sclerotherapy, laser therapy, and radiofrequency ablation are some of the therapies available on the market. Sclerotherapy is preferred for varicose, spider, and reticular veins as a first-line treatment. Surgical procedures for varicose veins are expected to undergo major changes in the near future. Surgery was replaced by non-invasive options to a large extent. Non-invasive approaches often require reduced hospital stays as well as the risk of infection, thereby saving time and cost. Unlike traditional surgical procedures, many surgeons follow foam sclerotherapy, endovenous laser treatment, and radiofrequency ablation.
Key players within global Varicose Vein Treatment market include AngioDynamics, Inc., Medtronic plc, Syneron Medical Ltd., Biolitec AG, Lumenis Ltd., Energist Group, Eufoton srl, Quanta Systems S.p.A. and Teleflex, Inc amongst others.
The report segments global Varicose Vein Treatment market as follows:
Global Varicose Vein Treatment Market: Procedure Segment Analysis
Global Varicose Vein Treatment Market: Product Segment Analysis
Global Varicose Vein Treatment Market: Regional Segment Analysis