Global Varicose Vein Treatment Market is expected to grow at a CAGR of 7.21% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Varicose Vein Treatment Market by Treatment Mode (Endovenous Ablation, Injection Sclerotherapy, Surgical Ligation/Stripping), Product, End User (Hospitals, Ambulatory Clinics), Region and Global Forecast 2018-2025.
As per the report, the global varicose vein treatment market is expected to grow from USD 231.05 million in 2017 to USD 348.67 million by 2025 at a CAGR of 7.21% during the forecast period from 2018-2025. Increasing adoption of advanced treatment procedures, favourable government initiatives, presence of major players, and adoption of laser treatments, are factors that led to the growth of varicose vein treatment market in North America region..
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Prominent companies in the industry include Medtronic, BTG International Ltd., Merz Pharma GmbH & Co. KGaA, B.Braun Melsungen AG, AngioDynamics, Syneron Medical Ltd., LUMENIS, Teleflex Incorporated, Quanta System S.p.A, Sciton, Inc., Fotona d.o.o., LeMaitre Vascular, Inc., Chemische Fabrik Kreussler & Co. GmbH, Energist Ltd., Eufoton srl, Accuron Technologies Limited, Grocare India, Alma Lasers, and The Vein Company are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in 2017, Teleflex acquired Vascular Solutions, Inc. This acquisition has expanded Teleflex’s vascular and interventional access product portfolio.
Treatment mode segment is categorized into endovenous ablation, injection sclerotherapy, and surgical ligation/stripping. The endovenous ablation segment is further categorized into endovenous laser therapy and endovenous laser therapy. The sclerotherapy segment is held the largest market share of 38.14% in 2017. The sclerotherapy treatment has advantages such as require less bruising & scarring, simple follow-up treatments, no need for sedation, and positive reimbursement policies. Product segment is divided into ablation devices, venous closure products, and surgical products. The ablation devices segment is further categorized into radiofrequency ablation devices and laser ablation devices. The radiofrequency ablation devices segment dominated the market with the market size of USD 2.17 million in 2017 as it is effective treatment for facet joints, avoids surgery, and immediate pain relief. End user segment includes hospitals and ambulatory clinics. The hospitals segment is anticipated to grow with highest CAGR 7.61% during the forecast period owing to increasing adoption of advanced treatment procedures and availability of varicose vein treatment.
Reduced trauma and better exposure to the site of application, prevalence towards less-invasive treatment procedures, and risk factors affecting to varicose vein treatment are the key driving factors for the varicose vein treatment market. In addition, technologically advanced devices and increasing geriatric population will lead the growth of varicose vein treatment market in couple of years. The high technical costs & unpredictable reimbursement structure and risk associated with varicose veins treatment may limit the growth of market. However, demand for endovenous ablation treatment devices is expected to boost the varicose vein treatment market over the forecast period.
About the report:
The global varicose vein treatment market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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