According to a new report,“Varicose Veins Treatment Devices Market Size, Share & Trends Analysis Report By Type (Endovenous Ablation, Sclerotherapy, Surgical Ligation & Stripping), By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., the global varicose veins treatment devices market is expected to reach USD 1,715.6 million by 2025. The growth in investments by the companies in the industry to develop innovative and effective products is likely to increase the market growth over the forecast period.
Key Takeaways from the report:
- Sclerotherapy dominated the market in the year 2017 due to its advantages including no scarring; no need for anesthesia; no need for hospital admission; simple follow-up treatments; and favorable reimbursement policies
- In the U.S., Medicare provides coverage to the patients undergoing sclerotherapy treatment for varicose veins, which can increase its adoption by the care providers and especially by the patients
- Medtronic announced that new CPT codes may aid in getting positive coverage for its VenaSeal closure device from public and private insurers in the U.S. in November 2017
- Endovenous ablation segment is anticipated to witness the fastest growth over the forecast period as it is preferred over the conventional procedures such as surgical stripping and ligation
- North America dominated the market in terms of revenue share in the year 2017 as about 30 million Americans suffer from varicose vein each year
- In May 2016, Navarro opened a vein center in the U.S. with a vision to educate the community about chronic venous insufficiency & varicose veins and the proper treatment for varicose veins
- Asia Pacific is expected to be the fastest-growing market segment in the coming years due to rising awareness about minimally invasive and noninvasive procedures, rising disposable income levels, and large base of geriatric population
- Some of the key market players are AngioDynamics, Inc.; Medtronic plc; Syneron Medical Ltd.; Biolitec AG; Lumenis Ltd.; Energist Group; Eufoton srl; and Teleflex, Inc.
- Development of innovative products, commercialization, and availability of reimbursements for the product are some of the strategies undertaken by the market players to strengthen their position in the market
- In addition, market players acquire other vascular businesses to boost their own product portfolio and overall revenue. For instance, Teleflex acquired Vascular Solutions, Inc. in 2017
- Some of the market players play a role of distributors by purchasing products from core manufacturers. For instance, AngioDynamics, Inc. purchased Asclera from Merz in March 2016
Varicose veins can be unsightly and can lead to considerable discomfort in some cases. Available treatments for varicose veins have improved since the last few years. Various healthcare providers are offering minimally invasive techniques such as radiofrequency ablation and laser therapies.
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Due to the risk of infections associated with invasive surgeries, surgical vein stripping methods have been replaced by noninvasive procedures. Schlerotherapy is the most popular and used as a first-line of treatment for varicose veins among endovenous ablation and surgical stripping.
Grand View Research has segmented the varicose veins treatment devices market based on type and region:
Type Outlook (Revenue, USD Million; 2014 – 2025)
- Endovenous Ablation
- Surgical Ligation & Stripping
Regional Outlook (Revenue, USD Million; 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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