Global Varicose Vein Treatment Industry Set to Skyrocket at 6.8% CAGR, Anticipated to Exceed US$ 1.4 Billion by 2033 | Says FMI Experts

The Global Varicose Vein Treatment Industry is set for robust expansion between 2023 and 2033. Future Market Insights’ latest research report projects that the market will surpass the valuation of US$ 765.2 million in 2023, with estimations soaring to US$ 1,477.3 million by 2033. The market is predicted to flourish at a noteworthy CAGR of 6.8% throughout the period from 2023 to 2033.

Along with this, the demand for varicose vein treatments is also expected to grow on account of the effectiveness of the treatments, utilisation of user-friendly devices, and the growing emphasis of medical practitioners on ensuring patient safety during critical treatment of varicose veins. Towards the end of 2026, the global market for varicose vein treatment will have reached a value of US$ 931.4 Mn, registering a robust growth at 6.4% CAGR.

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Unattended varicose veins can cause severe pain through swelling, ulceration, venous eczema, and lipodermatosclerosis. Treating them through appropriate measures becomes quite crucial. One may opt for non-surgical remedies such as sclerotherapy, leg elevation, or alternative invasive techniques such as endovenous laser treatments. Collectively, these therapies can be addressed as varicose vein treatments, medically practised in all parts of the world. The demand for such varicose vein treatments is expected to grow in the years to come.

Global Varicose Vein Treatment Industry Opportunities

Backed with strong clinical evidence, endovenous laser ablation devices are more popular to treat varicose veins. However, compared to other procedures such as foam fillers, vein stripping costs, and blast with electricity, endoscopic variceal ligation (EVL) is a costlier treatment alternative. The launch of cost-effective EVL devices will work as a favourable opportunity for new entrants as well as existing players in the market. Decreasing the procedure costs and enhancing the adoption of affordable devices will cumulatively boost the adoption of varicose vein treatments.

Among the wide variety of endovenous laser ablation devices available in the market, some of them may lead to complications such as thrombophlebitis, nerve damage, burns and deep vein thrombosis conditions. There is a potential opportunity for endovenous laser ablation device manufacturers to tap the larger market by offering competitive products that cause fewer complications.

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APEJ Varicose Vein Treatment Market to Record Speedy Growth

Apropos the report, more than 40% of the market revenues will remain concentrated in North America, throughout the forecast period. By 2026-end, North America’s varicose vein treatment market will have reached a value of US$ 420 Mn. US-based AngioDynamics, Inc. will be observed as a key player in the market during this period. In terms of revenue growth, the varicose vein treatment market in Asia-Pacific excluding Japan (APEJ) region is projected to be at the forefront.

By exhibiting 7% CAGR, the APEJ varicose vein treatment market will witness the active participation of Korean medical device manufacturer, Wontech Co., Ltd. Apart from 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 partaking in the growth of Global Varicose Vein Treatment Industry.

The report further reveals that hospitals and ambulatory surgical centres as end-users will account for a larger share of global revenues, while specialised clinics will register the fastest revenue growth at 7.2% CAGR. The report also identifies endovenous laser treatment as the dominant Global Varicose Vein Treatment Industry, procuring revenues worth over US$ 500 Mn by the end of 2026.

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Market TaxonomyBy End User

• Hospitals
• Ambulatory Surgical Centres
• Specialised Clinics

By Treatment Type

• Endovenous Laser Systems
  • Diode Lasers
  • Yag Lasers
• Endovenous Laser Fibres
  • Bare Tip Laser Fibres
  • Radial Tip Laser Fibres
  • Gold Tip Laser Fibres
• Treatment
  • Non-thermal Ablation
  • Radiofrequency Ablation
  • Sclerotherapy

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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