Varicose Vein Treatment Devices Market Growth, Size-Share, Developments, Trends, Challenges, Forecast, Analysis by 2030 | AngioDynamics, Inc., Syneron Medical Ltd., Dornier Medtech GmbH.

According to Coherent Market Insights, Global varicose vein treatment devices market is estimated to be valued at US$ 1,273.0 million in 2023 and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030).

Varicose vein treatment devices are used to treat varicose veins which arise due to valve failure in the leg veins. These devices include ablation devices, surgical instruments, and venous closure systems. Ablation devices use radiofrequency energy or laser to heat up and seal the veins while surgical instruments are used for vein stripping procedures. Venous closure systems are utilized to mechanically block or clamp the veins.

Market Dynamics:

The varicose vein treatment devices market is driven by the increasing prevalence of varicose veins among adults. According to an article published in the National Center for Biotechnology Information, in the United States, around 25 million people suffered from varicose veins in 2010. Changing lifestyle patterns have led to a sedentary lifestyle which is another key factor promoting the growth of this market. Furthermore, growing adoption of minimally invasive procedures for varicose vein treatment is fueling the demand for advanced ablation devices and venous closure systems. Rising medical tourism in emerging countries is also positively impacting the market growth.

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Market Driver:

One of the major drivers for the varicose vein treatment devices market is the rising prevalence of varicose veins among the global population. Varicose veins are becoming increasingly common due to sedentary lifestyle and prolonged sitting or standing. It is estimated that varicose veins affect around 30-40% of adult population globally. Women are more prone to develop varicose veins as compared to men. Rising awareness about treatment options for varicose veins and availability of minimally invasive procedures is encouraging more people to seek treatment. This is contributing to the growth of the varicose vein treatment devices market.

Market Restraint:

One of the major restraint for the varicose vein treatment devices market is the high costs associated with newer treatment technologies. Developing innovative treatment devices requires huge investments in R&D. This increases the price of newer devices which might not be affordable for all patients and healthcare facilities especially in developing regions. Availability of cheaper alternative treatment options like saphenous ablation also hinder the adoption of high-end devices. Regulations around approval and reimbursement policies further delay the market entry of novel varicose vein treatment technologies which impacts their commercial success.

Competitive Landscape

In the segment specifically devoted to leading companies in the Varicose Vein Treatment Devices Market of the market analysis document, our researchers provide a summary of the financial statements of all the major companies, covering their noteworthy developments, product benchmarking, and SWOT analysis. The corporate profile copy also includes financial information and a business summary. The businesses in this area can be customized to match the unique needs of the client.

Some of the Top Players in Varicose Vein Treatment Devices Market:

AngioDynamics, Inc., Syneron Medical Ltd., Dornier Medtech GmbH., Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, WONTECH Co., Ltd., Intros Medical Laser GmbH, and Energist Ltd.

Detailed Segmentation:

Global Varicose Vein Treatment Devices Market, By Product Type:

Endovenous Laser Systems
Monoclonal Antibodies
Diode Lasers
Yag Lasers

Endovenous Laser Fibers
Bare Tip Laser Fiber
Radial Tip Laser Fiber
Gold tip Laser Fiber

Global Varicose Vein Treatment Devices Market, By Treatment Method:
Non-thermal Ablation,
Radiofrequency Ablation
Sclerotherapy

Global Varicose Vein Treatment Devices Market, By End User:
Hospitals
Ambulatory Surgical Centers
Specialized Clinics

Regional Analysis -

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
Latin America (Colombia, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Market Opportunity:

The increasing medical tourism for varicose vein treatments in low-cost destinations presents significant opportunities for the market. Countries like India, Thailand and Mexico have emerged as popular medical tourism hubs for varicose vein treatments owing to availability of world-class healthcare infrastructure and clinical expertise at much lower costs compared to developed economies. It is estimated that nearly 1 in 7 medical tourists seek varicose vein treatments. This growing cross-border healthcare presents companies an opportunity to strengthen their presence in these markets and tap into the large pool of medical tourists. Partnering with local hospitals and clinics can help them reach more patients and drive sales volumes.

Market Trend:

One of the key trends in the varicose vein treatment devices market is the shift towards minimally invasive procedures like endovenous laser ablation (EVLA) and radiofrequency ablation (RFA). These procedures are associated with reduced recovery times, less pain and little to no scarring. They have emerged as preferred alternatives to conventional vein stripping surgeries. Major players are actively focusing on developing innovative devices that enable effective vessel occlusion with minimal invasiveness. This trend is expected to continue as patients increasingly demand procedures promising quick results and recovery. Manufacturers introducing portable, cheaper devices suitable for office-based or ambulatory settings stands to gain in this evolving landscape.

Reasons to Purchase this Report:

✔ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
✔ Reports provide opportunities and threats faced by suppliers in the Varicose Vein Treatment Devices industry around the world.
✔ The report shows regions and sectors with the fastest growth potential.
✔ A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
✔ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
✔ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

Questions Answered by the Report:

(1) Which are the dominant players of the Varicose Vein Treatment Devices Market?
(2) What will be the size of the Varicose Vein Treatment Devices Market in the coming years?
(3) Which segment will lead the Varicose Vein Treatment Devices Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Varicose Vein Treatment Devices Market?
(6) What are the go-to strategies adopted in the Varicose Vein Treatment Devices Market?

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