Varicose Veins Treatment Market 2021
The global varicose veins treatment market is anticipated to hold a market value of USD 415.9 million in the year 2017 and is expected to grow at a CAGR of 7.4% during the forecast period. Varicose veins are knotted, enlarged veins. They can occur in any part of the body, but mostly affect the legs and feet. This happens because standing and walking escalates the pressure in the veins of the lower body.
The increasing demand for less invasive treatment options, rising prevalence of varicose veins, rising investments by major market players and increasing awareness about varicose veins is expected to drive the market growth over the forecast period. For instance, in May 2016 Mr. Luis Navarro opened the Vein Treatment Center in New York for creating awareness amongst the community regarding treatment of varicose veins. However, high cost of treatment, lack of skilled vascular surgeons and extensively competitive market can restrain the market growth over the assessment period.
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Major Key Players:
Some of the prominent players in the global varicose veins treatment market are Medtronic, AngioDynamics, biolitec AG, Syneron Medical Ltd., Lumenis, Energist Ltd., Eufoton s.r.l., Teleflex Incorporated, Quanta System, Dornier MedTech, Scranton Gillette Communications, Sciton, Inc, Fotona d.o.o., BTG International Ltd., Merz North America, Inc.
Segmentation
The global varicose veins treatment market has been segmented into type, product and end user.
The market, on the basis of type, has been segmented into endovenous ablation, sclerotherapy, surgical ligation, lase ablations and stripping. Sclerotherapy is expected to hold the largest market share of the global varicose veins treatment market by type, owing to its simple follow up treatments, no need of anesthesia, no scarring and favorable reimbursement policies. Endovenous ablation is expected to be the fastest growing segment owing to its high preference over the conventional procedures like stripping and surgical ligation.
The global market, on the basis of product, has been segmented into ablation devices, venous closure products and surgical products.
The global varicose veins treatment market, by end user, has been segmented into hospitals, specialized clinics, ambulatory surgical centers and others.
Regional Analysis:
Geographically, the Americas is expected to dominate the global market owing to a huge patient population suffering from varicose veins and rising geriatric population. According to a data published by the World Bank, 15.41% people in the US were 65 years and older in 2017. Europe is expected to hold the second largest position in the global market owing to the preference for minimally invasive treatment procedures. Asia-Pacific is expected to be the fastest growing market owing to the increasing healthcare expenditure and growing patient population. Furthermore, the Middle East and Africa region is expected to account for the least market share in the global market.
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