The Varicose veins treatments market was valued USD 1.05 billion in 2021 and is projected to reach USD 2.2 billion by 2032 at CAGR of 6% over the forecast period 2023-2032. Swollen, twisted, or deformed veins in the legs are known as varicose veins. They frequently cause pain and discomfort, especially when standing or walking for long periods of time. They can also affect other body areas like the back, buttocks, thighs, and abdomen. Around 30% of adults over the age of 40 have varicose veins. Poor blood flow via the veins causes this disorder. Varicose veins can become painful if left untreated.
Over the last decade, the global market for varicose vein treatments has grown significantly. Factors such as rising varicose vein prevalence, rising need for better treatment options, raising awareness of the condition, and rising healthcare spending are likely to propel the market forward. Furthermore, technological advances in the field of varicose vein treatment have resulted in greater use of minimally invasive techniques. Region-wise, the Americas are expected to dominate the worldwide varicose veins treatment market, with Europe following closely behind.
The market, by product, has been segmented into ablation devices, venous closure products and surgical products. By product, ablation devices are expected to hold the largest share owing to their minimal invasive nature and quick recovery. Venous closure products are anticipated to grow at the fastest CAGR due to their ability to treat the disease effectively and rising demand for such products.
The market, by end user, has been segmented into hospitals, specialized clinics, ambulatory surgical centers and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The varicose veins treatment market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The varicose veins treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.
Geographically, the Americas is anticipated to dominate the global varicose veins treatment market owing to a rising patient population, increasing healthcare expenditure and growing awareness about the condition. According to a report published by Stanford Medicine in September 2018, 30 million people in the US are affected by varicose veins.
Europe is expected to hold the second largest position in the global market. The market growth in this region is attributed to the well-developed healthcare infrastructure and rising demand for non-invasive treatment options.
The varicose veins treatment market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the rising prevalence of varicose veins in the region and increasing healthcare expenditure by the government. According to a report published by the World Bank Group, healthcare expenditure of India was 3.89% of the Gross Domestic Product (GDP) in 2015.
Varicose Veins Treatment Market Key players:
Recent Development
THERACLION, a cutting-edge business building a scalable robotic platform for non-invasive ultrasound therapy, recently revealed that the SONOVEIN has successfully treated 1000 varicose vein patients. These patients were treated with non-invasive ecotherapy in a number of centers across Europe and Asia, all of which were directed by experts in their fields. The SONOVEIN is the only non-invasive varicose vein ablation therapy device available. This technology eliminates the need for a catheter, chemical injections, or incisions, resulting in no scarring.
With the help of its recent purchase, BD, an American international medical technology business, is expanding its venous therapy range to include treatments for varicose veins. Venclose, a catheter-therapy inventor, is being purchased by the MedTech behemoth. Venclose's treatment involves inserting a radiofrequency ablation catheter into the affected vein and delivering heat to assist shrink and closing the blood vessel. When the procedure is finished, the blood will automatically reroute to surrounding healthy veins.
Intended Audience
| Report Attribute/Metric | Details |
| Market Size | USD 2.2 Billion |
| CAGR | 6% |
| Base Year | 2021 |
| Forecast Period | 2023-2032 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Product Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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. |
| Key Market Opportunities | Venous closure products Launch |
| Key Market Drivers | Increasing demand for advanced treatment options and growing healthcare expenditure |
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
