Varicose Vein Treatment Market: Global Industry Analysis and Forecast (2022-2029)

Varicose Vein Treatment Market was valued at US $ 0.30 Bn. in 2021. Global Varicose Vein Treatment Market size is expected to grow at a CAGR of 7.2%. The market is expected to reach a value of US $ 0.52 Bn in 2029.
Varicose Vein Treatment Market Overview:
The flagging of the vessel walls causes varicose veins, which are peculiarly dilated blood vessels. Beneath the epidermis, these veins seemed to be blown up, warped clusters of blue or purple veins. Millions of people suffer from varicose vein disease. Symptoms normally expand around the age of 42, and they repeatedly impact the legs. If varicose veins cause venous stasis ulcers, phlebitis, thrombosis, venous bleeding, or fungal and bacterial infections, they are hazardous to human body health. According to the American Civilization of Vascular Surgery, at least 30 to 35 Mn Americans have varicose veins, of which 19% are males and 35% are women suffering from the condition. Varicose Vein is also considered as vein syndrome where the vein was enflamed enormously.

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Varicose Vein Treatment Market Dynamics:
Increasing the occurrence of Varicose Vein Usage is a driving factor for the market:

An increase in the prevalence of varicose vein illness, upsurge in the geriatric populace, progressive varicose vein treatment strategies, contribution in professions that escalate the frequency of varicose vein treatment is the factor which is witnessing the growth of the market. Global technological advancements is another major factor to drive success for the Vein treatment market. Patients who are cured of varicose veins profit significantly from laser ablation treatment because it does not require long hospital stays or suffering during the recuperation stage. The procedure of lasers in the treatment of varicose veins has stretched as a result of novel expertise and expansions in research efforts by major companies. Doctors can use laser ablation equipment to shut petite varicose and spider veins. This treatment comprises guiding influential eruptions of light at the aggrieved veins, causing them to evaporate or dwindle. Due to increasing healthcare costs and a rising preference for non-invasive processes, laser treatment is becoming more popular in industrialized countries like China, India, Brazil and South Korea which is driving the growth of the market.

Endogenous laser varicose vein surgery menaces are challenging factor for the market:

Soreness and Inflammation are major side effects of varicose vein treatment. An increase in infections and changes in skin colour after the treatment can also hinder the growth of the market. In Addition, the high cost of varicose vein dealing measures, a lack of vascular surgeon training, the implementation of healthcare reforms, an extremely competitive market that makes it problematic to preserve sustainability, and an unreliable compensation situation for all major barricades to the varicose vein treatment market's growth.

Rapid population ageing would open up commercial market prospects:

Varicose veins are also more expected to transpire after several childbirths and gravidity. Most of the women are having this treatment. Bio Supply Trends Trimestral in 2021 says that women had a complex pervasiveness of varicose veins than men, with 52% of women and 48% of men are having varicose veins. Varicose veins can affect around 48% of women over 60 in the United States. There is rapid growth in the above 60 aged people population, thus this factor can create money-spinning growth for the varicose veins market during the forecast period.
Varicose Vein Treatment Market Segment Analysis:
Based on Product, the market is segmented into Ablation devices, Radiofrequency Ablation devices, Laser ablation devices, Venous Closure products, and others. The Radiofrequency Ablation devices segment held the largest market share, accounting for 42.07% in 2021. Image supervisory is used to send a barb concluded to the skin into a liver swelling in radiofrequency ablation (RFA) and microwave ablation (MWA). RFA includes transitory high-frequency electrical streams through a cathode in the prickle, which heats a miniature region. It is also used for conventional pain relief methods which are generally effective for above 50 aged people.

However, the Laser ablation devices are expected to grow at a CAGR of 3.4% during the forecast period. This device is considered for use in many applications such as deposition of thin metallic, dielectric films, and production of nanomaterials. In association with wet-chemical mixtures, laser ablation amalgamation is one of the finest potentials for making Ag nano-antimicrobials. This method is stable for Ag colloids and can be made in unadulterated turpentine without the use of covering and steadying agents or reluctance.

Based on Procedure, the market is segmented as Endovenous Ablation, Injection Sclerotherapy, and Surgical Ligation. The Injection Sclerotherapy segment held the largest market share, accounting for 31.05% in 2021. The Injection Sclerotherapy segment comprises instantaneously inserting an explanation into a vein. Sclerotherapy scars the vein, instigating blood to deflect through healthier veins. The vein that has distorted is reabsorbed into the neighbouring fleshy tissue and lastly fades away. There are three types of solution involved while considering this method into action such as Polidocanol, Sotradechol, and Hypertonic Saline (saltwater). It is practicable to closure the veins up quicker and has a progressive attainment rate by retaining the agent in a lather rather than a liquid.

However Surgical Ligation is expected to grow at a CAGR of xx% during the forecast period. Ligation is the surgical lashing of veins to evade blood assembling by a tiny scratch in the skin. Ligation is sometimes accomplished in aggregation with vein stripping or vein elimination. In many cases, a triflingly aggressive surgical procedure called venous ablation is used to eliminate the vein.


Varicose Vein Treatment Market Regional Insights:
The Asia Pacific region is expected to dominate the market during the forecast period. The increasing target populations in countries like Japan, and China, as well as increasing per capita, rapid urbanization, and vendors in the Varicose Vein Treatment market are predictable to give advantage from the rise of modern healthcare facilities in developing economies.

However, the North American region is expected to grow at a CAGR of xx% during the forecast period. According to the Centers for Medicare and Medicaid Services, healthcare expenditure in the United States has increased by 5.4%to US$ 4.42 trillion in 2021, with US$ 12,362 per person, accounting for 18.6% of the GDP US. In addition, the federal government donated 29.7% of total health expenses and with families accounting for 28.4%. State and municipal governments contributed 16.8% of overall healthcare spending, with other private income accounting for 7.5%.

The objective of the report is to present a comprehensive analysis of the global Varicose Vein Treatment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Varicose Vein Treatment Market dynamic, structure by analyzing the market segments and projecting the Varicose Vein Treatment Market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the Varicose Vein Treatment Market make the report investor’s guide.
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Varicose Vein Treatment Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 0.30 Bn.


Forecast Period 2022 to 2029 CAGR:
7.2%
Market Size in 2029:
US $ 0.52 Bn.


 Segments Covered:
by Product
• Ablation devices
• Radiofrequency Ablation devices
• Laser ablation devices
• Venous Closure products
• others


by Procedure
• Endovenous Ablation
• Injection Sclerotherapy
• Surgical Ligation


by Disease Type
• Greater Saphenous Varicose Veins
• Small Saphenous Varicose Veins
• Others


by End User
• Hospitals
• Clinics
• Ambulatory centers



Varicose Vein Treatment Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Varicose Vein Treatment Market Key Players
• Sonacare Medical, LLC
• Neuwave Medical, Inc
• Mesonix, Inc
• Mermaid Medical, Inc
• Medtronic, Plc
• Healthtronic, Inc
• EDAP TMS S.A
• Galil Medical, Inc
• Koninklijke Philips N.V
• Angiodynamics, Inc
• Medtronic Plc
• Quanta System (El.en.)
• Teleflex Incorporated
• Lumenis
• Spectranetics, Boston Scientific Corporation

Frequently Asked Questions:

1] What segments are covered in the Varicose Vein Treatment Market report?
Ans. The segments covered in the Varicose Vein Treatment Market report are based on Product and Procedure.

2] Which region is expected to hold the highest share in the Varicose Vein Treatment Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Varicose Vein Treatment Market.

3] What is the market size value of the Varicose Vein Treatment Market by 2029?
Ans. The market size value of the Varicose Vein Treatment Market by 2029 is US $ 0.52 Bn.

4] What is the forecast period for the Varicose Vein Treatment Market?
Ans. The forecast period for the Varicose Vein Treatment Market is 2022-2029.

5] What was the market size value of the Varicose Vein Treatment Market in 2021?
Ans. The market size value of the Varicose Vein Treatment Market in 2021 was US$ 0.30 Bn.