Global Canada Varicose Vein Treatment Devices Report Thumbnail

Global Canada Varicose Vein Treatment Devices Market by End Use (Hospitals, Ambulatory Care Unit, Vein Clinics), by Type (Sclerotherapy, Endovenous Ablation) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: MD-72490
  • Author: Up Market Research
  • Rating: 4.9
  • Total Reviews: 64
  • No. Of Pages: 239
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  • Pub. Date: 2021-10-21
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Summary of the Report

Canada's varicose vein treatment device market was valued at USD 48.0 millions in 2020. It is expected to grow at 6.6% compound annual growth rate (CAGR). Market growth is driven by the increasing number of patients suffering from varicose veins, and the increased use of endovenous ablation. A study published by National Center for Biotechnology Information, (NCBI) found that nearly 3.7 million Canadians have varicose vessels. Market growth is expected to be aided by a growing awareness of venous diseases among patients. Market growth is expected to be driven by the rising demand for minimally invasive treatments, approval from Health Canada of various ablation devices & sclerotherapies, as well as positive recommendations from associations such Ontario Health Technology Advisory Committee for Endovenous Laser Ablation, (EVLA), and Radiofrequency Ablation, (RFA).

According to the most recent studies, non-invasive methods for treating varicose have similar efficacy as invasive surgery. This has led to a greater preference for minimally invasive procedures. There are many other benefits to minimally invasive procedures over invasive surgery. Technological advancements have led to the development of minimally invasive procedures. Endovenous ablation and sclerotherapy can be used to treat varicose veins. Endovenous treatment can be performed using radiofrequency or laser procedures. Radiofrequency is more commonly used when the vein has been heated to a temperature between 60 and 100 degrees Celsius. Sclerotherapy is the injection of a salt solution into a vein to cause irritation and blood vessel lining collapse. This causes a blood clot. In recent years, these minimally invasive procedures have been preferred to invasive surgeries.

The COVID-19 Canada Varicose Treatment Market Impact: 3.2% decrease from 2019 to 2020

Pandemic Impact

Outlook after COVID

The Canadian Institute for Health Information reports that the number of varicose and vein repairs/vein surgeries from March 2020 to June 2020 saw a double-digit decrease compared to 2019.

Hospitals and clinics will be able to resume treatment of varicose veins by vaccinating, locking down upliftment, as well as relaxations in social restrictions. Virtual consultations are now available at many vein clinics. This will have a positive effect on the market's growth over the next year.

Key manufacturers used cost-reduction strategies to address the COVID-19 pandemic, declining revenue and other factors, including a reduction in travel, meetings and customer events, hiring and certain clinical research and development programs.

Backlogs for varicose veins will drive demand as hospitals and clinics reopen services to non-emergent patients across the country.

Varicose vein treatment is covered by insurance and reimbursement in Canada. Canada's public healthcare covers vein stripping, ligation surgery and sclerotherapy. The Ontario Health Insurance Plan emphasizes the prevention of more invasive procedures. The Ontario Health Technology Advisory Committee recommended that patients receive compression therapy in 2019. However, most patients are not eligible for medical-grade compression stockings.

Type Insights

The market can be divided into three types: surgical ligation and stripping, endovenous ablation and sclerotherapy. In 2020, the sclerotherapy market accounted for 62% of the total revenue. This is due to high demand and easier access to treatment of varicose veins. Endovenous ablation and sclerotherapy cost less than vein surgery. Invasive open vein surgery is more invasive and requires a longer hospital stay. Recurrence is also possible after 4 to 5 year. Because they are daycare procedures, minimally invasive procedures don't require hospitalization. There is negligible recurrence and fewer side effects.

These factors have led to a gradual shift towards minimally invasive procedures which will likely boost segment growth. Endovenous ablation can be further divided into radiofrequency ablation and endovenous laser. Laser therapy is rapidly becoming a popular treatment for varicose veins. This has contributed to the growth of this segment. Many market players invest in the development and commercialization of new products. The market is expected to grow further with the commercialization of several products in recent years. Biolitec AG, for instance, announced in February 2020 the launch of ELVeS Radical 2ring Pro, a laser fiber that can be used to treat severely tortuous varicose vanes.

End-use Insights

The market can be divided into three segments based on its end use: ambulatory care units (Veneer Clinics), hospitals, and others. Due to Canada's high number of private and public hospitals, the hospitals segment held the largest share at over 51% in 2020. Hospitals can also purchase expensive equipment such as the endovenous ablation device. Hospitals are growing because of this and favorable policies regarding open vein surgery.

The second-largest segment was vein clinics. It is expected to grow at a fastest CAGR of 5% from 2021 to 2028. There are increasing numbers of cosmetic clinics that offer minimally invasive treatment for varicose and other conditions. This segment is expected to grow due to the increasing number of vascular surgeons and physicians who have their own vein clinics.

Patients also prefer endovenous ablation, as many vein clinics such as The Vein Treatment Centre, Canada Vein Clinics and Canada Vein Institute offer this treatment. The popularity of vein clinics is steadily increasing which supports segment growth.

Market Share Insights & Key Companies

Market players adopt key strategies such as acquisitions, partnerships and the launch of new products. In August 2019, Boston Scientific Corp. purchased BTG. This resulted in Varithena being added to the company's portfolio of minimally invasive surgical instruments. Merit Medical Systems purchased the assets of Vascular Insights, LLC in December 2018. This resulted in ClariVein being added to the company's product line. Among the most prominent players in Canada's varicose vein treatment device market are:

  • Angiodynamics

  • Medtronic

  • Teleflex Incorporated

  • Sciton, Inc.

  • Biolitec AG

  • Dornier Medtech

  • Merit Medical Systems

  • Alma Lasers

  • Boston Scientific Corp.

Up Market Research published a new report titled “Canada Varicose Vein Treatment Devices Market research report which is segmented by End Use (Hospitals, Ambulatory Care Unit, Vein Clinics), by Type (Sclerotherapy, Endovenous Ablation), By Players/Companies Merit Medical Systems, Angiodynamics, Teleflex Incorporated, Boston Scientific Corp, Alma Lasers, Dornier Medtech, Sciton Inc, Medtronic, Biolitec AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleCanada Varicose Vein Treatment Devices Market Research Report
By End UseHospitals, Ambulatory Care Unit, Vein Clinics
By TypeSclerotherapy, Endovenous Ablation
By CompaniesMerit Medical Systems, Angiodynamics, Teleflex Incorporated, Boston Scientific Corp, Alma Lasers, Dornier Medtech, Sciton Inc, Medtronic, Biolitec AG
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages239
Number of Tables & Figures168
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Canada Varicose Vein Treatment Devices Industry Outlook

Global Canada Varicose Vein Treatment Devices Market Report Segments:

The market is segmented by End Use (Hospitals, Ambulatory Care Unit, Vein Clinics), by Type (Sclerotherapy, Endovenous Ablation).

Canada Varicose Vein Treatment Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Canada Varicose Vein Treatment Devices Market

Overview of the regional outlook of the Canada Varicose Vein Treatment Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Canada Varicose Vein Treatment Devices Market Overview

Highlights of The Canada Varicose Vein Treatment Devices Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Canada Varicose Vein Treatment Devices Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By End Use:

                1. Hospitals

                2. Ambulatory Care Unit

                3. Vein Clinics

        7. By Type:

                1. Sclerotherapy

                2. Endovenous Ablation

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Canada Varicose Vein Treatment Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
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Canada Varicose Vein Treatment Devices Market Trends

Reasons to Purchase the Canada Varicose Vein Treatment Devices Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Canada Varicose Vein Treatment Devices Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Canada Varicose Vein Treatment Devices Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Canada Varicose Vein Treatment Devices Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Canada Varicose Vein Treatment Devices Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Canada Varicose Vein Treatment Devices Market Size & Forecast, 2018-2028 
      4.5.1 Canada Varicose Vein Treatment Devices Market Size and Y-o-Y Growth 
      4.5.2 Canada Varicose Vein Treatment Devices Market Absolute $ Opportunity 


Chapter 5 Global Canada Varicose Vein Treatment Devices Market Analysis and Forecast by End Use
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by End Use
      5.1.2 Basis Point Share (BPS) Analysis by End Use
      5.1.3 Absolute $ Opportunity Assessment by End Use
   5.2 Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      5.2.1 Hospitals
      5.2.2 Ambulatory Care Unit
      5.2.3 Vein Clinics
   5.3 Market Attractiveness Analysis by End Use

Chapter 6 Global Canada Varicose Vein Treatment Devices Market Analysis and Forecast by Type
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Type
      6.1.2 Basis Point Share (BPS) Analysis by Type
      6.1.3 Absolute $ Opportunity Assessment by Type
   6.2 Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      6.2.1 Sclerotherapy
      6.2.2 Endovenous Ablation
   6.3 Market Attractiveness Analysis by Type

Chapter 7 Global Canada Varicose Vein Treatment Devices Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Canada Varicose Vein Treatment Devices Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Canada Varicose Vein Treatment Devices Analysis and Forecast
   9.1 Introduction
   9.2 North America Canada Varicose Vein Treatment Devices Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      9.6.1 Hospitals
      9.6.2 Ambulatory Care Unit
      9.6.3 Vein Clinics
   9.7 Basis Point Share (BPS) Analysis by End Use 
   9.8 Absolute $ Opportunity Assessment by End Use 
   9.9 Market Attractiveness Analysis by End Use
   9.10 North America Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      9.10.1 Sclerotherapy
      9.10.2 Endovenous Ablation
   9.11 Basis Point Share (BPS) Analysis by Type 
   9.12 Absolute $ Opportunity Assessment by Type 
   9.13 Market Attractiveness Analysis by Type

Chapter 10 Europe Canada Varicose Vein Treatment Devices Analysis and Forecast
   10.1 Introduction
   10.2 Europe Canada Varicose Vein Treatment Devices Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      10.6.1 Hospitals
      10.6.2 Ambulatory Care Unit
      10.6.3 Vein Clinics
   10.7 Basis Point Share (BPS) Analysis by End Use 
   10.8 Absolute $ Opportunity Assessment by End Use 
   10.9 Market Attractiveness Analysis by End Use
   10.10 Europe Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      10.10.1 Sclerotherapy
      10.10.2 Endovenous Ablation
   10.11 Basis Point Share (BPS) Analysis by Type 
   10.12 Absolute $ Opportunity Assessment by Type 
   10.13 Market Attractiveness Analysis by Type

Chapter 11 Asia Pacific Canada Varicose Vein Treatment Devices Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Canada Varicose Vein Treatment Devices Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      11.6.1 Hospitals
      11.6.2 Ambulatory Care Unit
      11.6.3 Vein Clinics
   11.7 Basis Point Share (BPS) Analysis by End Use 
   11.8 Absolute $ Opportunity Assessment by End Use 
   11.9 Market Attractiveness Analysis by End Use
   11.10 Asia Pacific Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      11.10.1 Sclerotherapy
      11.10.2 Endovenous Ablation
   11.11 Basis Point Share (BPS) Analysis by Type 
   11.12 Absolute $ Opportunity Assessment by Type 
   11.13 Market Attractiveness Analysis by Type

Chapter 12 Latin America Canada Varicose Vein Treatment Devices Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Canada Varicose Vein Treatment Devices Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      12.6.1 Hospitals
      12.6.2 Ambulatory Care Unit
      12.6.3 Vein Clinics
   12.7 Basis Point Share (BPS) Analysis by End Use 
   12.8 Absolute $ Opportunity Assessment by End Use 
   12.9 Market Attractiveness Analysis by End Use
   12.10 Latin America Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      12.10.1 Sclerotherapy
      12.10.2 Endovenous Ablation
   12.11 Basis Point Share (BPS) Analysis by Type 
   12.12 Absolute $ Opportunity Assessment by Type 
   12.13 Market Attractiveness Analysis by Type

Chapter 13 Middle East & Africa (MEA) Canada Varicose Vein Treatment Devices Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Canada Varicose Vein Treatment Devices Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Canada Varicose Vein Treatment Devices Market Size Forecast by End Use
      13.6.1 Hospitals
      13.6.2 Ambulatory Care Unit
      13.6.3 Vein Clinics
   13.7 Basis Point Share (BPS) Analysis by End Use 
   13.8 Absolute $ Opportunity Assessment by End Use 
   13.9 Market Attractiveness Analysis by End Use
   13.10 Middle East & Africa (MEA) Canada Varicose Vein Treatment Devices Market Size Forecast by Type
      13.10.1 Sclerotherapy
      13.10.2 Endovenous Ablation
   13.11 Basis Point Share (BPS) Analysis by Type 
   13.12 Absolute $ Opportunity Assessment by Type 
   13.13 Market Attractiveness Analysis by Type

Chapter 14 Competition Landscape 
   14.1 Canada Varicose Vein Treatment Devices Market: Competitive Dashboard
   14.2 Global Canada Varicose Vein Treatment Devices Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Merit Medical Systems
      14.3.2 Angiodynamics
      14.3.3 Teleflex Incorporated
      14.3.4 Boston Scientific Corp
      14.3.5 Alma Lasers
      14.3.6 Dornier Medtech
      14.3.7 Sciton Inc
      14.3.8 Medtronic
      14.3.9 Biolitec AG
Segments Covered in the Report
The global Canada Varicose Vein Treatment Devices market has been segmented based on

By End Use
  • Hospitals
  • Ambulatory Care Unit
  • Vein Clinics
By Type
  • Sclerotherapy
  • Endovenous Ablation
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Merit Medical Systems
  • Angiodynamics
  • Teleflex Incorporated
  • Boston Scientific Corp
  • Alma Lasers
  • Dornier Medtech
  • Sciton Inc
  • Medtronic
  • Biolitec AG

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