The varicose veins treatment devices market exhibits dynamic growth during the forecast period.
The global varicose veins treatment devices market is increasing proficiently, expected to grow at a CAGR of 6.5%. Worldwide, the increasing burden of varicose veins and improved therapeutic treatment options will drive market growth. Around 40 million people in the U.S. suffer from varicose veins. Growing awareness about new sclerotherapy procedures, laser technology, and minimally invasive procedures to overcome the limitations of traditional procedures will increase the demand for advanced devices. Key factors such as increased expansion and acceptance for enzyme replacement therapy in emerging nations, rising geriatric population, and U.S. FDA approvals for varicose veins treatment products will drive the overall market growth on a global scale.
Market Synopsis
Ablation devices are expected to register higher growth by the end of 2027
Advancements in radiofrequency ablation devices with enhanced biocompatibility will drive market growth. In addition, novel applications for endovenous laser therapy among patients as a standard treatment option will drive market growth, e.g., market approval of polidocanol endovenous microfoam (Varithena, BTG). In January 2017, Varithena (polidocanol injectable foam) was approved in the Canadian market for the treatment of incompetent great saphenous veins. Additionally, greater awareness and enhanced therapy launch in the outpatient centers and clinics for various varicose veins and chronic venous insufficiency procedures will boost the market growth in the developed nations, e.g., Venefit™ procedure. Moreover, the new launch of devices and surgical products such as VenaSeal Closure System, Purespume (pipeline), VBOX hybrid, laser instruments, and other injection sclerotherapy products will spur revenue growth in the near future.
Endovenous thermal ablation to witness a significant CAGR
Preference for minimally invasive thermal ablation procedures (radiofrequency or laser therapy) in developed nations shows promising growth. Moreover, advancements in non-thermal ablation, such as Clarivein treatment (ClariVein® infusion catheter), will drive market growth. Furthermore, advancements in microphlebectomy, ultrasound-guided foam sclerotherapy, micro sclerotherapy, high ligation, and stripping will further spur revenue growth during the forecast period. E.g., advancements in new Echotherapy technology (by Theraclion) show progressive growth for varicose veins treatment and venous ulcers. It is a non-invasive ablation therapy delivered by the SONOVEIN® system that allows treatment without chemical injections, catheters, or incisions.
Increased research and development with solid product pipelines in the developed regions
Major players in the varicose veins treatment market are Medtronic plc, biolitec AG, Syneron Medical Ltd., Lumenis Ltd., Energist Group, AngioDynamics, Inc., Vascular Solutions, Inc., Quanta System S.p.A., Eufoton s.r.l., Sciton, Inc., Dornier MedTech GmbH, Miraval, BTG plc, Sciton, Inc., Merz Pharma GmbH & Co. KGaA, Fotona d.o.o., and others. Major players are developing new technology with collective biological solutions, sclerotherapy, laser surgery, endovenous ablation therapy, ambulatory phlebectomy, vein surgery, and others. New product launches, acquisitions, partnerships with hospitals, technology expansion in developing nations, and improved R&D on varicose veins treatment devices will drive market growth during the forecast period.
Historical & Forecast Period
This study report represents an analysis for each segment from 2017 to 2027, considering 2018 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Segmentation Product Type (2017–2027; US$ Mn)
Ablation Devices
Venous Closure Products
Other Surgical Instruments
Application (2017–2027; US$ Mn)
Endovenous Ablation (EVLA)
o Radiofrequency Ablation Devices
o Laser Ablation Devices
Sclerotherapy
Surgical Ligation & Stripping
End User Segment (2017–2027; US$ Mn)
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
Geography Segment (2017–2027; US$ Mn)
North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (Japan, China, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities better to understand the overall varicose veins treatment devices market. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
Frequently Asked Questions
The market for Varicose Veins Treatment Devices is expected to reach USD XX Mn in 2027.
The Varicose Veins Treatment Devices market is expected to see significant CAGR growth over the coming years, at 6.5%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Medtronic plc, AngioDynamics, Inc., biolitec AG, Syneron Medical Ltd., Lumenis Ltd., Dornier MedTech GmbH, Energist Group, Eufoton s.r.l., Vascular Solutions, Inc., Quanta System S.p.A., Sciton, Inc. are some of the major players in the global market.
