Varicose Vein Treatment Market | Global Upcoming Trends, Growth Drivers, Opportunities and Challenges 2025

The global varicose vein treatment market was valued at $ 376.64 million in 2017, and is projected to reach $ 589.06 million by 2025, growing at a CAGR of 5.7% from 2018 to 2025.

Increase in the number of varicose vein patients plays a major role in the growth of the varicose vein treatment market. Furthermore, increase in adoption of latest laser devices including radiofrequency and endovenous laser ablation devices is the major driving factor for the varicose vein treatment market.

Major drivers of market growth

The growth of the global varicose vein treatment market is driven by the rise in incidences of varicose vein problem, increase in geriatric population, and technological advancements in varicose vein treatment devices. Additionally, growth of awareness in emerging economies would provide lucrative opportunities to emerging market players in the near future. However, dearth of skilled healthcare professionals and occasional product recall impede market growth.

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Covid-19 scenario:

Even though Covid-19 is a viral infection, the overlapping radiological and clinical features with bacterial respiratory tract infection demand oral antibiotics.
Several virologists claim that prescribing antibiotics for Covid-19 patients could create more resilient virus, which decreased the demand for antibiotics.
Injection sclerotherapy segment projected to occupy the largest share in the near future.

By procedure, the injection sclerotherapy segment generated almost three-fifths of the global revenue in 2017 and is expected to continue its dominance through 2025, owing to the accurate nature of its result. However, the endovenous ablation segment is expected to grow at the highest CAGR of 6.9% during the forecast period, owing to its ability to eliminate the collapsed vein through the body's natural process.

Commercial use segment to dominate the global market through 2025

By product, ablation devices segment is poised to encounter the highest growth from 2018 to 2025, a CAGR of 7.3%, as these devices are non-invasive and reduce recovery time. However, the sclerotherapy injection segment is projected to remain the dominant segment through the forecast period and occupy more than half of the global share.

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Asia-Pacific to continue dominating the global market

Regionally, Asia-Pacific would grow at the highest CAGR of 7.8% from 2018 to 2025, on account of rising consumer awareness, increase in geriatric population, and the growing adoption of advanced technology such as laser ablation and radiofrequency ablation.

Key market players

The key players analyzed in the report include Medtronic, Lumenis, Alma Lasers Ltd., Angiodynamics, Inc., Biolitec AG, BTG PLC, Energist Ltd., Sciton Inc., WONTECH Co., Ltd., and Syneron. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

KEY FINDINGS OF THE STUDY

Based on procedure, the sclerotherapy segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 5.5% from 2018 to 2025

Based on product, the ablation devices segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 7.3% from 2018 to 2025.

Based on end user, the hospital segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.

Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.8% during the forecast period.

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