WASHINGTON, April 10, 2023 (GLOBE NEWSWIRE) -- The Global Varicose Veins Treatment Market is valued at USD 298.98 Million in 2022 and is projected to reach a value of USD 491.09 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 6.40% over the forecast period 2023-2030.
Market Overview
The growth of the market is attributed to the increasing prevalence of varicose veins, rising awareness about the condition, and the availability of advanced treatment options.
Varicose veins are a common condition that affects the veins in the legs. They are caused by a weakening of the valves in the veins, which allows blood to flow backward and pool in the legs. This can cause the veins to become enlarged, twisted, and visible.
Varicose veins can be painful and unsightly. They can also lead to other complications, such as blood clots, skin ulcers, and leg cramps.
There are a number of treatment options available for varicose veins, including:
- Sclerotherapy: This involves injecting a solution into the veins to close them off.
- Laser therapy: This uses a laser to heat and close the veins.
- Radiofrequency ablation: This uses radio waves to heat and close the veins.
- Surgery: This involves removing the veins.
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Market Dynamics
- Increasing prevalence of varicose veins: Varicose veins are a common condition that affects an estimated 20% of adults worldwide. The prevalence of varicose veins is expected to increase in the coming years due to a number of factors, including aging, obesity, and sedentary lifestyle.
- Rising awareness about the condition: There is a growing awareness about varicose veins and their associated complications. This is leading to more people seeking treatment for the condition.
- Availability of advanced treatment options: There are a number of advanced treatment options available for varicose veins, such as sclerotherapy, laser therapy, radiofrequency ablation, and surgery. These options are more effective and less invasive than traditional treatments.
Challenges
- High cost of treatment: The cost of treatment for varicose veins can be high, especially for advanced treatment options. This can be a barrier to treatment for some people.
- Lack of awareness about the condition: There is still a lack of awareness about varicose veins and their associated complications. This can lead to people delaying treatment or not seeking treatment at all.
- Side effects of treatment: Some treatment options for varicose veins can have side effects, such as pain, bruising, and swelling. This can be a concern for some people.
Opportunities
- Growing demand for minimally invasive procedures: There is a growing demand for minimally invasive procedures for the treatment of varicose veins. This is due to the fact that these procedures are less invasive and have shorter recovery times than traditional treatments.
- Development of new treatment options: There is a constant development of new treatment options for varicose veins. This is leading to more effective and less invasive treatment options becoming available.
- Expansion into emerging markets: The Varicose Veins Treatment Market is still relatively small in emerging markets. However, there is a growing demand for treatment in these markets due to the increasing prevalence of varicose veins and the rising awareness about the condition.
Recommendations
- Develop new and innovative treatment options: Companies should focus on developing new and innovative treatment options for varicose veins. This will help them to stay ahead of the competition and meet the growing demand for effective and less invasive treatment options.
- Expand into emerging markets: Companies should expand into emerging markets where there is a growing demand for treatment for varicose veins. This will help them to tap into a new market and grow their business.
- Increase awareness about the condition: Companies should increase awareness about varicose veins and their associated complications. This will help to drive demand for treatment and increase the number of people seeking treatment.
- Improve patient education: Companies should improve patient education about varicose veins and their treatment options. This will help patients to make informed decisions about their treatment and improve their outcomes.
Top Players in the Global Varicose Veins Treatment Market
- Medtronic PLC (Ireland)
- AngioDynamics Inc. (U.S.)
- Biolitec AG (Austria)
- Syneron Medical Ltd. (Israel)
- Lumenis Ltd. (Israel)
- Dornier MedTech GmbH (Germany)
- Energist Group (U.K.)
- Eufoton S.R.L. (Italy)
- Vascular Solutions Inc. (U.S.)
- Quanta System S.P.A. (Italy)
- Sciton Inc. (U.S.)
- Fotona D.O.O. (Slovenia)
- BTG PLC (U.K.)
- Merz Aesthetics (U.S.)
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Top Report Findings
- Based on product, the market is segmented into ablation devices, venous closure products, and surgical products. The ablation devices segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing demand for minimally invasive procedures. The venous closure products segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing adoption of these products due to their high efficacy and safety.
- Based on end-user, the market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others. The hospitals segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing number of patients seeking treatment for varicose veins in hospitals. The specialty clinics segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing number of patients seeking treatment for varicose veins in specialty clinics due to the availability of specialized doctors and advanced treatment facilities.
- Based on region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market during the forecast period. This is due to the high prevalence of varicose veins in this region. Europe is expected to grow at the highest CAGR during the forecast period. This is due to the increasing awareness about varicose veins and the rising demand for minimally invasive procedures in this region.
Top Trends in Global Varicose Veins Treatment Market
- Increasing prevalence of varicose veins - Varicose veins are a common condition that affects the veins in the legs. They are caused by a number of factors, including genetics, age, obesity, and pregnancy. The prevalence of varicose veins is expected to increase in the coming years due to the aging population and the rising obesity rates.
- Rising demand for minimally invasive procedures - Minimally invasive procedures are becoming increasingly popular as a treatment option for varicose veins. These procedures are less invasive than traditional surgery and have a shorter recovery time. The demand for minimally invasive procedures is expected to continue to grow in the coming years.
- Growing investments by market players - Market players are investing heavily in research and development to develop innovative and effective treatments for varicose veins. These investments are expected to lead to the development of new technologies and products that will improve the treatment of varicose veins.
- Focus on patient education - Market players are focusing on patient education to raise awareness about varicose veins and the available treatment options. This is expected to help patients make informed decisions about their treatment.
- Regulatory changes - Regulatory changes are expected to impact the Varicose Veins Treatment Market in the coming years. These changes may include the approval of new treatments and the introduction of new labeling requirements.
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Recent Developments in the Global Varicose Veins Treatment Market
- Medtronic plc launched the VNUS ClosureFAST System - In October 2021, Medtronic plc launched the VNUS ClosureFAST System, a minimally invasive treatment for varicose veins. The system uses radiofrequency energy to close the veins, which eliminates the need for surgery.
- AngioDynamics Inc. entered into a partnership with Quanta System - In September 2021, AngioDynamics Inc. entered into a partnership with Quanta System to develop and commercialize a new laser system for the treatment of varicose veins. The system is expected to be launched in 2022.
- Teleflex Incorporated acquired Covidien - In August 2021, Teleflex Incorporated acquired Covidien, a global medical device company. The acquisition will strengthen Teleflex's position in the Varicose Veins Treatment Market.
- Lumenis launched the Vbeam Perfecta laser system - In July 2021, Lumenis launched the Vbeam Perfecta laser system, a new laser system for the treatment of varicose veins. The system is designed to provide a more effective and comfortable treatment than traditional laser systems.
- Biolitec AG received CE Mark for the ELVeS system - In June 2021, Biolitec AG received CE Mark for the ELVeS system, a new minimally invasive treatment for varicose veins. The system uses ultrasound energy to close the veins, which eliminates the need for surgery.
- Syneron Medical Ltd. launched the PicoWay laser system - In May 2021, Syneron Medical Ltd. launched the PicoWay laser system, a new laser system for the treatment of varicose veins. The system is designed to provide a more effective and comfortable treatment than traditional laser systems.
- Vascular Solutions Inc. launched the ClariVein system - In April 2021, Vascular Solutions Inc. launched the ClariVein system, a new minimally invasive treatment for varicose veins. The system uses radiofrequency energy to close the veins, which eliminates the need for surgery.
The Global Varicose Veins Treatment Market is segmented on the basis of region into North America, Europe, Asia Pacific, and the Rest of the World.
North America is expected to account for the largest share of the market during the forecast period. This is due to the high prevalence of varicose veins in this region. Europe is expected to grow at the highest CAGR during the forecast period. This is due to the increasing awareness about varicose veins and the rising demand for minimally invasive procedures in this region.
North America - North America is the largest market for varicose veins treatment. The United States is the major contributor to the market in this region. The high prevalence of varicose veins in the United States is due to a number of factors, including obesity, sedentary lifestyle, and pregnancy. The increasing demand for minimally invasive procedures is also driving the market in this region.
Europe - Europe is the second-largest market for varicose veins treatment. Germany, Italy, and France are the major contributors to the market in this region. The increasing awareness about varicose veins and the rising demand for minimally invasive procedures are driving the market in this region.
Asia Pacific - Asia Pacific is the fastest-growing market for varicose veins treatment. China, India, and Japan are the major contributors to the market in this region. The rising prevalence of varicose veins due to the aging population and the increasing obesity rates is driving the market in this region.
Rest of the World - The Rest of the World is expected to grow at a moderate CAGR during the forecast period. Latin America and the Middle East & Africa are the major contributors to the market in this region. The increasing awareness about varicose veins and the rising demand for minimally invasive procedures are driving the market in this region.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Varicose Veins Treatment Market Forecast Report (2023-2030).
Global Varicose Veins Treatment Market Segmentation
- Treatment Mode - The treatment mode segment is further sub-segmented into endovenous ablation, injection sclerotherapy, and surgical ligation/stripping. The endovenous ablation segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing adoption of minimally invasive procedures for the treatment of varicose veins. The injection sclerotherapy segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing awareness about the procedure and its efficacy in treating varicose veins.
- Product - The product segment is further sub-segmented into ablation devices, radiofrequency ablation devices, laser ablation devices, and venous closure products. The ablation devices segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing adoption of minimally invasive procedures for the treatment of varicose veins. The radiofrequency ablation devices segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing awareness about the procedure and its efficacy in treating varicose veins.
- End-User - The end-user segment is further sub-segmented into hospitals, specialty clinics, ambulatory surgical centers, and others. The hospitals segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing number of patients seeking treatment for varicose veins in hospitals. The specialty clinics segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing number of patients seeking treatment for varicose veins in specialty clinics due to the availability of specialized doctors and advanced treatment facilities.
- Region - The regional segment is further sub-segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market during the forecast period. This is due to the high prevalence of varicose veins in this region. Europe is expected to grow at the highest CAGR during the forecast period. This is due to the increasing awareness about varicose veins and the rising demand for minimally invasive procedures in this region.
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 298.98 Million |
| Revenue Forecast by 2030 | USD 491.09 Million |
| CAGR | 6.40% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Medtronic PLC (Ireland), AngioDynamics Inc. (U.S.), Biolitec AG (Austria), Syneron Medical Ltd. (Israel), Lumenis Ltd. (Israel), Dornier MedTech GmbH (Germany), Energist Group (U.K.), Eufoton S.R.L. (Italy), Vascular Solutions Inc. (U.S.), Quanta System S.P.A. (Italy), Sciton Inc. (U.S.), Fotona D.O.O. (Slovenia), BTG PLC (U.K.), Merz Aesthetics (U.S.), and others. |
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Key Questions Answered in the Varicose Veins Treatment Market Report are:
- What is the size of the Global Varicose Veins Treatment Market?
- What are the key factors driving the growth of the market?
- What are the key trends in the market?
- What are the challenges faced by the market participants?
- Who are the key players in the market?
- What are the strategies adopted by the key players?
- What are the opportunities and threats faced by the market participants?
- What are the strengths and weaknesses of the key players?
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