Varicose Vein Treatment Market Growth Drivers, Trends, Statistics and Forecast till 2024
May 04, 2021: Global Varicose Vein Treatment Market is anticipated to reach USD 475 million by 2024. Varicose veins literally known as “Veins on the leg”. They fall in the category of “varicose veins” if they get twisted. The factors that propel the growth of the Varicose Vein Treatment industry include reduced risk of collateral damage to adjacent tissues, painless technique, improved saturation, fewer post-operative complications, no requirement of anesthesia, less scarring, and minimal need for incisions during the procedure. On the other hand, there are factors that may hamper the growth of the market including shortage of trained vascular physicians and high price of varicose vein treatment methods.
Varicose Vein Treatment industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market may be explored by treatment mode, product type, and geography. The industry may be explored by treatment mode as Surgical Ligation/Stripping, Endovenous Ablation, and Injection Sclerotherapy. The “Endovenous Ablation” sector led the Varicose Vein Treatment Market in 2016 and is anticipated to maintain its dominance by 2024.
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The Varicose Vein Treatment industry could be explored based on product type as Venous Closure Products, Ablation Devices, Laser Ablation Devices, and Radiofrequency Ablation Devices. The “Radiofrequency Ablation Devices” sector led the Varicose Vein Treatment Market in 2016 and is anticipated to maintain its dominance by 2024.
North America accounted for the major share of the Varicose Vein Treatment Market Size in 2015 and will continue to lead in the forthcoming period. The factors that could be attributed to the growth include fast development in this market; which could be attributed to a number of aspects counting progressive health care infrastructure, high disposable income, increasing administration expenditure, continuous lifestyle-associated changes, rising health care consciousness, increasing occurrence of varicose veins, and rising consequence of esthetics.
Some of the key players that fuel the development of the Varicose Vein Treatment industry comprise AngioDynamics, Inc., Medtronic plc, Biolitec AG, Lumenis Ltd., Syneron Medical Ltd., Dornier MedTech GmbH, Energist Group, Quanta Systems S.p.A., Vascular Solutions, Inc., and Eufoton S.R.L. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Varicose Vein Treatment Outlook ByType (Revenue, USD Million, 2013 – 2024)
• Endovenous Ablation
• Laser Ablation
• Radiofrequency Ablation
Varicose Vein Treatment Regional Outlook (Revenue, USD Million, 2013 – 2024)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia Pacific
• Latin America
• Rest of Latin America
• South Africa
• Rest of MEA
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Research Support Specialist, USA