Varicose Vein Treatment Market will Reach a Value of US$ 931.4 Million by 2026

Future Market Insights recently conducted its forecast study on the global market for varicose vein treatments, estimating the market’s current value at just over US$ 500 Mn. The report, titled “Varicose Vein Treatment Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” projects that rising prevalence of obesity will fuel the incidence rate of varicose veins in the world. Occurrence of varicose vein is medically-proven to be higher among obese people. Along with this, the demand for varicose vein treatments is also expected to grow on the account of effectiveness of the treatments, utilisation of user-friendly devices, and 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 value of US$ 931.4 Mn, registering a robust growth at 6.4% CAGR.

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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, endscopic variceal ligation (EVL) is a costlier treatment alternative. 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 lesser complications.

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 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 market.

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

Unattended varicose veins can cause one 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-practiced in all parts of the world. The demand for such varicose vein treatments is expected to grow in the years to come.

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Varicose Vein Treatment Market Driven by Reduced Trauma and Faster Blood Flow Restoration

Global Varicose Vein Treatment Market: Overview and Scope

The global varicose vein treatment market is primarily driven by the rising incidence of varicose veins. This condition of enlarged, gnarled veins, appearing mostly in the feet and legs, is caused by several factors including pregnancy, hormonal changes, genetic disorders, obesity, sleep disorders, high blood pressure levels, and lifestyle-associated factors such as prolonged standing and increased stress levels.

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Some of the latest advances in varicose vein treatment technology are laser ablation systems, intense-pulsed-light therapy, incorporation of closure systems, radiofrequency systems, and ultrasound guided systems. These technologies and devices present a host of benefits such as fewer incisions, faster recovery rates, higher success rates, less patient trauma, low adverse side effects, improved efficacy, and fewer post-operative complications. Key varicose vein treatment products include ultrasound guided sclerotherapy devices, endovenous ablation devices, and surgical stripping devices.

The research publication examines the global varicose vein treatment market by segmenting it on the basis of key parameters such as product and technology type and geography. Each segment and sub-segment has been evaluated in depth to give readers a clear understanding of the structure and scope of the market. Various market dynamics such as drivers, opportunities, and restraints have also been studied in the report. A detailed assessment of the vendor landscape makes for an interesting read and gives clients sharp insights on their competitors.

Global Varicose Vein Treatment Market: Key Drivers and Challenges

The global market for varicose vein treatment is fueled by factors such as reduced trauma, greater exposure to the site of application, high operative success rates, and faster blood flow restoration.

Demand for endovenous ablation treatment devices is anticipated to expand at a rapid pace in the next few years due to factors such as short treatment time, improved blood circulation, minimal invasion, and complete closure of the treated area. Ultrasound sclerotherapy devices have also been witnessing strong demand owing to benefits such as time and cost efficiency, reduced risk of collateral damage to surrounding tissues, painless procedure, increased penetration, no requirement of anesthesia, fewer post-operative complications, less scarring, and minimal need for incisions during the procedure.

In contrast, the market for varicose vein treatment faces a few challenges in the developed regions of Europe and North America. Factors such as the high cost of varicose vein treatment procedures, lack of training for vascular surgeons, implementation of health care reforms, immensely competitive market leading to difficulty in maintaining sustainability, and inconsistent reimbursement scenario pose a threat to the development of the global varicose vein treatment market.

Global Varicose Vein Treatment Market: Region-wise Outlook and Vendor Landscape Evaluation

The global market for varicose vein treatment covers four key segments: Europe, North America, Asia Pacific, and Rest of the World. North America is the clear leader in the overall varicose vein treatment market. The rapid growth in this market can be attributed to a number of factors including advanced health care infrastructure, continuous lifestyle-associated changes, growing health care awareness, increasing government spending, rising prevalence of varicose veins, high disposable income, and growing significance of esthetics. In addition, favorable reimbursement policies, especially in the U.S., have significantly boosted the market for varicose vein treatment in North America.

The Asia Pacific varicose vein treatment market is anticipated to witness impressive growth in the near future owing to factors such as surge in disposable income, improvement in health care infrastructure, and increase in patient awareness about the advantage of seeking early treatment.

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Some of the prominent players competing in the global varicose vein treatment market are VNUS Medical Technologies, Astra Tech, Covidien PLC, Kreussler Pharma, InaVein, B.Braun Melsungen, Vascular Solutions, Dornier MedTech, and AngioDynamics. Most of these players have been adopting various strategies to gain market share. Key strategies adopted by leading companies include mergers and acquisitions, product line and geographic expansion, R&D investments, and competitive pricing policies.

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