Global Varicose Veins Treatment Devices Market by Type (Endovenous Ablation, Sclerotherapy, Surgical Ligation & Stripping) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global varicose vein treatment devices market was worth approximately USD 1.1 billion. This number is forecast to grow at 6.3% CAGR over the forecast period. The market is expected to grow due to increasing demand for non-invasive treatments to treat varicose, and growing investments by market players in developing innovative products.

Varicose veins are often visually disconcerting. If they cause significant discomfort, pain, swelling, or aching, then they can be problematic. They can rupture in severe cases and lead to ulcers. The treatment options have improved over the years. Private healthcare providers offer a variety of minimally invasive options.

Varicose veins are more common in the elderly. It has been shown that aging can have a significant impact on the structure and function of veins. Varicose veins affect one in every two people over the age 50. This condition can also be caused by pregnant women and overweight people. There are a variety of treatments on the market, including radiofrequency ablation, laser therapy and sclerotherapy. Sclerotherapy is the first-line treatment for varicose and spider veins.

The varicose vein surgery procedures will likely undergo major changes in the near future. Noninvasive alternatives have replaced surgery in large part. Noninvasive surgery has been more popular in recent years due to the increased risk of infection associated with invasive procedures. This is expected to be a major driver of the varicose-vein treatment device market over the forecast period.

Noninvasive procedures are less likely to cause infection and require shorter hospital stays. This saves time and money. Foam sclerotherapy is becoming more popular than traditional surgical procedures.

Type Insights

Sclerotherapy, a non-invasive procedure that injects a foam sclerosant into the veins, is called "sclerosing". Because it doesn't involve cutting veins, it is much less painful. Patients are able to recover faster since it doesn't require hospitalization. Patients undergoing sclerotherapy are covered by Medicare in the United States. More than 375,000 sclerotherapy treatments were performed in the United States in 2016. Insurance coverage may increase the acceptance of sclerotherapy over the next few years.

The largest segment of the market for Sclerotherapy was in 2018. This is due to several advantages such as less bruising, scarring, no need for sedation, no long hospital stays, simple follow up treatments and positive reimbursement policies. Sclerotherapy's use of foam Sodium Tetradecyl Sulfate has revolutionized the treatment. It is also long-lastingly successful.

Many organizations, such as the British Association of Sclerotherapies(BAS), take initiatives each year to increase awareness and encourage the adoption of different treatments. The market is experiencing a steady increase in approvals. The Food and Drug Administration (FDA), reviewed data in February 2015 for approval of the VenaSeal product. Three clinical studies were used to analyze the FDA's approval of VenaSeal. Medtronic revealed that the new CPT codes could help in obtaining positive coverage from both the private and public insurers in the U.S. for the VenaSeal closure device in November 2017.

The segment of endovenous ablation is expected to experience the greatest growth during the forecast period. Because it is less invasive than other surgical procedures like surgical stripping or ligation, the endovenous procedure has a higher rate of success and is associated with fewer complications. Market players are also focusing on developing efficient, technologically advanced products that will help boost market growth.

Regional Insights

North America was the largest market by revenue share in 2018, thanks to its large population, which is aesthetic conscious. Because of the safety and obvious results, people are more willing to have cosmetic procedures. North America is a pioneer in laser technology. The demonstration of safety and efficacy has helped to reduce stigma associated with cosmetic procedures. It has also helped increase social acceptance of laser procedures, particularly by men.

Advanced technology is also helping to boost the market for varicose-vein treatment devices. Navarro established a vein center in the U.S. in May 2016. His goal was to educate the public about chronic venous disease and varicose, as well as the best treatment. Varicose veins affect approximately 30 million Americans each year. However, less than 10% seek treatment.

The American Venous Forum and the Society for Vascular Surgery have developed clinical guidelines in the United States for the treatment of varicose venous disease. Based on the grading system, these guidelines provide recommendations for managing chronic venous disease. The severity of the condition is a way for insurance companies and care providers to communicate. A general practitioner can communicate the severity of a condition to patients, even if they are referred to vein specialists. Based on severity, patients can be divided into different categories.

Due to the large number of elderly people, rising disposable income and increasing awareness about these procedures, the Asia Pacific region is expected to grow the fastest in the coming years. Due to the diversity of regulatory factors, the market is extremely diverse. This results in a difference in product availability in different countries.

Market Share insights on Varicose Vein Treatment Devices

AngioDynamics, Inc., Medtronic plc, Syneron Medical Ltd., Biolitec AG, Lumenis Ltd., Energist Group, Eufoton SRL, Quanta Systems S.p.A., and Teleflex, Inc. are some of the major market players. Teleflex, Inc. was second in revenue, with Medtronic being the top company. These companies have a broad product portfolio, greater penetration at the global level and various strategic initiatives that contribute to their higher revenue growth.

Medtronic, for example, developed the VenaSeal Closure System. It was approved by the FDA in February 2015 and insured coverage in 2017. Market players must continue to be dominant by developing innovative products, commercialization and providing reimbursements.

Teleflex purchased Vascular Solutions, Inc. in February 2017 for approximately USD 1 billion. The acquisition was expected to increase the product lines of vascular and interventional access through increased revenue from Vascular Solutions' peripheral and coronary market.

Some market players also use this strategy to buy products directly from the manufacturers and then sell them as distributors. AngioDynamics, Inc. bought Sotradecol from Bioniche Pharma Group Limited (2006) and Asclera (Merz) in March 2016.

Medtronic initiated an Investigation Device Exemption study (IDE) in March 2018 to evaluate the safety and effectiveness of the Abre venous self expanding stent system for use in deep venous disease treatment. This study will likely involve approximately 200 subjects in 35 locations across the U.S.A and Europe.

Biolitec AG announced in November 2017 the successful results of the FiLaC therapy long-term study on LEONARDO Mini laser and Radial 2ring laser therapy for treating varicose veins. The company saw good results with first-line therapy (64.1%), and even better with second-line treatment cure rates (85.5%).

Market Report Scope Varicose Vein Treatment Devices

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, or country level and offers analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global varicose-treatment devices market report by type and region.

• Type Outlook (Revenue USD Million, 2014-2025)

  • Endovenous Ablation

    • Laser therapy for endovenous conditions

    • Radiofrequency ablation

  • Sclerotherapy

  • Surgical Ligation and Stripping

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

These are the most frequently asked questions about this report

b. Global varicose vein treatment device market was valued at USD 1.2 Billion in 2019, and is forecast to grow to USD 1.3 Billion by 2020.

b. Global varicose vein treatment device market is expected grow at 6.3% compound annual growth rate between 2018 and 2025, to reach USD1.7 billion by 2025.

b. With a 46.3% share in 2019, North America was the dominant market for varicose vein treatment devices. This is due to the rapid adoption of technology as well as the safety and efficacy demonstrated by laser treatments, which have helped to reduce stigma associated with cosmetic procedures.

b. AngioDynamics, Inc., Medtronic plc, Syneron Medical Ltd., Biolitec AG, Lumenis Ltd., Energist Group, Eufoton srl, Quanta Systems S.p.A., and Teleflex, Inc. are some of the major market players.

b. The growth is expected to be boosted by growing demand for minimally invasive treatments to treat varicose, and increasing investments by market players in the development of innovative and effective products.

Up Market Research published a new report titled “Varicose Veins Treatment Devices Market research report which is segmented by Type (Endovenous Ablation, Sclerotherapy, Surgical Ligation & Stripping), By Players/Companies sclerotherapy, sclerotherapy is preferred as a first-line of treatment for varicose, reticular veins, laser therapy, spider, radiofrequency ablation Of these”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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 Varicose Veins Treatment Devices Market Report Segments:

The market is segmented by Type (Endovenous Ablation, Sclerotherapy, Surgical Ligation & Stripping).

Varicose Veins 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 Varicose Veins Treatment Devices Market

Overview of the regional outlook of the Varicose Veins 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.

Highlights of The Varicose Veins Treatment Devices Market Report:

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

                1. Endovenous Ablation

                2. Sclerotherapy

                3. Surgical Ligation & Stripping

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

We have studied the Varicose Veins 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.

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Reasons to Purchase the Varicose Veins 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.