THE global varicose vein treatment market is on track for significant expansion over the next decade. According to a recent survey by Future Market Insights, the market is expected to outperform the valuation USD 765.2 million in 2023. Driven by growing demand and advancement in treatment options, the market is expected to reach an estimated USD 1,477.3 million to 2033, with a compound annual growth rate (CAGR) of 6.8% from 2023 to 2033.
As the prevalence of varicose veins continues to rise globally due to factors such as an aging population and increasing awareness of treatment options, the market for varicose vein treatments is witnessing an increase in demand. Advances in medical technologies and an expanding range of treatment modalities are also contributing to the growth trajectory of the market.
Unattended varicose veins can cause severe pain through swelling, ulceration, venous eczema and lipodermasclerosis. Addressing them through appropriate measures becomes very critical. One can opt for non-surgical treatments such as sclerotherapy, leg lifts, or alternative invasive techniques such as intravenous laser treatments. Collectively, these treatments can be treated as varicose vein treatments, which are medically applied in all parts of the world. The demand for such varicose veins treatments is expected to increase in the coming years.
Varicose Vein Treatments: Market Opportunities
With strong clinical evidence, intravenous laser ablation devices are more popular for the treatment of varicose veins. However, compared to other procedures such as foam fillers, vein removal costs, and electrical detonation, Endoscopic Varicose Ligation (EVL) is a more expensive alternative treatment. The launch of affordable EVL devices will act as a favorable opportunity for new entrants as well as existing players in the market. Lowering the cost of the procedure and increasing the adoption of affordable devices will cumulatively boost the adoption of varicose vein treatments.
Among the wide variety of intravenous laser ablation devices available on the market, some of them can lead to complications such as thrombophlebitis, nerve damage, burns, and deep vein thrombosis conditions. There is a potential opportunity for manufacturers of intravenous laser ablation devices to tap into the larger market by offering competing products that cause fewer complications.
APEJ’s varicose vein treatment market is experiencing rapid growth
According to the report, more than 40% of the market revenue will remain concentrated in North America throughout the forecast period. By the end of 2026, the North American varicose vein treatment market will have reached a value of US$ 420 million. AngioDynamics, Inc. based in the US will be seen as a key player in the market during this period. In terms of revenue growth, the varicose vein treatment market in the Asia Pacific ex Japan (APEJ) region is projected to be at the forefront.
Exhibiting a 7% CAGR, the APEJ varicose vein treatment market will witness the active participation of Korean medical device manufacturer, Wontech Co., Ltd. In addition to these, Syneron Medical Ltd., Dornier MedTech GmbH, Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, Energist Ltd. and intros Medical Laser GmbH are other companies involved in the development of the global varicose vein treatment market.
The report further reveals that hospitals and ambulatory surgery centers as end users will account for a larger share of global revenue, while specialty clinics will register the fastest revenue growth at 7.2% CAGR. The report also identifies intravenous laser therapy as the dominant varicose vein treatment in the market, with revenue worth over US$ 500 million by the end of 2026.
An old full Report Analysis Click here
Market Segmentation:
By product:
- Endovenous Laser Systems
- Endovenous Laser Fibers
- Bare-end fiber lasers
- Radial Tip Laser Fibers
- Gold Tip Fibers Laser
- Method of Treatment
- Non-thermal catalysis
- Radio frequency removal
- Sclerotherapy
By End User:
- Hospitals
- Ambulatory Surgery Centers
- Specialized Clinics
By region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
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