Varicose Veins Treatment Market to hit US$ 2.06 billion by 2030, Says Growth Plus Reports

Newark, New Castle, USA, March 07, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, “Varicose Veins Treatment Market by Product Type (Compression Devices/ Garments, Ablation Devices), Treatment Type (Sclerotherapy, Ligation/Stripping),) – Global Outlook & Forecast 2022-2030″ published by Growth Plus Reports, the Varicose Veins Treatment market is expected to grow at a CAGR of 6.2% from 2021 to reach US$ 2.06 billion by 2030. Owing to increased incidence of varicose veins in adults and rising innovations in therapies.

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Growth Drivers

The increasing number of cosmetic surgeries performed globally is expected to drive the growth in the global varicose veins treatment market. Varicose vein surgery is performed for medical or cosmetic purposes, improving a patient’s overall physical appearance. Recent years have seen an unheard-of increase in demand for the operations because of improved access to medical care and rising public awareness of the issue. The emergence of easy-to-use and patient-friendly choices for the treatment of varicose veins could be advantageous for the global industry.

Considerable risk groups include pregnant women and the elderly population. Aging is known to make varicose veins more noticeable, and according to data from the Cleveland Clinic, between 30% to 50% of adults have the problem. The likelihood that someone may develop the disease will increase as the number of elderly individuals rises, driving up demand on the global varicose veins treatment market. The increasing strategic actions of market participants may present greater growth prospects, but the difficulty in accessing healthcare may prove to be a significant obstacle.

The global varicose veins treatment market has been analyzed from three perspectives: product type, treatment type, and region.

Excerpts from ‘By Product Type Segmentation’

The global varicose veins treatment market, by product type is segmented into:

• Compression Devices/ Garment
• Ablation Devices
• Catheter Kits for Sclerotherapy & Adhesion Injection
• Others

The ablation devices are further sub segmented into laser ablation devices, radiofrequency ablation devices, and ultrasound ablation devices.

During the projection period, it is predicted that the laser ablation segment will grow significantly. This is because the procedure doesn’t require difficult recuperation periods or prolonged hospital stays, which has several significant benefits for people receiving treatment for varicose veins. Because of launch of new technology and advancements in research activities by the leading firms in the industry under study, the use of lasers for the treatment of varicose veins has increased. Tiny varicose and spider veins can be completely sealed off by doctors using laser ablation technology. During this procedure, intense light bursts are used to make the damaged veins disappear or fade. The use of laser therapy is growing in industrialized countries due to rising healthcare expenditures and a growing desire for minimally intrusive procedures. The compression devices/garments segment holds a very small market share. This is because of their failure to address the root problem. However, if a person with varicose veins wears them frequently, they can help with itchy skin and worn-out, aching legs. But the problems recur when the patient stops using them.

Varicose Veins Treatment Market Scope

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Excerpts from ‘By Treatment Type Segmentation’

The global varicose veins treatment market has been divided into:

• Sclerotherapy
• Ligation/Stripping
• Endovenous Ablation
• Supportive Treatment

The sclerotherapy segment dominates the global varicose veins treatment market. This domination is ascribed to the treatment’s advantages, which include fewer bruises and scars, the reduced use of anesthetic, shorter hospital stays, simple post-operative treatments, and helpful insurance reimbursement policies. The most popular technique for quickly and painlessly removing tiny varicose veins is cosmetic sclerotherapy. The outpatient operation takes between 30 and 45 minutes, and the patient may have a brief period of mild burning thereafter.

Excerpts from ‘By Region Segmentation’

Based on region, the global varicose veins treatment market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

North America dominates the varicose veins treatment market and is expected to showcase a significant CAGR in the forecast period. The presence of global brands and rising R&D investments are attributed to this. In industrialized countries, where up to 35.0% of people have varicose veins and telangiectasias, more than 33.0% of women and about 17.0% of men have sought medical attention for these conditions, according to the Society of Vascular Surgery. More than 40.0 million Americans have varicose veins, and about 50.0% have a family history of the condition. The market share in the region has been driven by elements such as rising technological developments in venous disorders, a high geriatric population with varicose veins, and the minimally invasive nature of the treatment. Due to the rising geriatric population and sedentary lifestyle in developing nations like India and China, the market in the Asia Pacific region is anticipated to see the highest CAGR over the forecast period. NewsGram reports that 7.0% of young people in India have varicose veins due to a sedentary lifestyle. In nations like China, 40% of the 100.0 million people with varicosities also have varicose veins in their lower limbs. These elements are anticipated to propel the market in the area during the anticipated time frame.

Excerpts from ‘Competitive Landscape’

The prominent players operating in the global varicose veins treatment market are:

• AngioDynamics Inc.
• Medtronic Plc
• Biolitec AG
• Dornier MedTech Inc.
• Alma Lasers Ltd.
• Boston Scientific Corporation
• Teleflex Incorporated
• Sciton Inc.
•  Lumenis Ltd.
• Syneron Medical Ltd.
• Eufoton s.r.l.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecast Years – 2022 to 2030
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities

TOC Continued…

VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis

‘Business Profile’ of Key Players

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