Varicose Vein Treatment Market Analysis | 2022-2028

“The Varicose Vein Treatment Market is projected to grow from USD 276.89 million in 2021 to USD 451.9 million by 2028 at a CAGR of over 7.12% during the forecast period”.

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Market Dynamics

Introduction

Varicose Veins are veins that have become twisted and enlarged. Owing to significant lifestyle changes and excessive workloads in the young age and mid-age groups, the cosmetic problem has become highly prevalent.

Various factors causing varicose veins are pregnancy, hormonal changes, genetic disorders, obesity, high blood pressure levels, and sleep disorders. Varicose vein treatment involves medical procedures or lifestyle changes to reduce or eliminate varicose veins, which are swollen, twisted veins usually occurring in the legs.

Market Drivers

The surging demand for minimal invasion techniques as well as the increasing geriatric population is likely to augment the industry growth. Moreover, economically favorable treatment and excluded use of anesthesia further boost the demand for varicose vein treatment.

In addition, less time consumption with efficient results, strong R&D investments, and technological advancements are likely to offer lucrative opportunities to the market players in the coming years.

COVID-19 Impact

The COVID-19 pandemic has moderately affected the Varicose Vein Treatment industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions.

The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions such as varicose vein treatment.

Segments Analysis

By Product Type ‘

“Laser and RF ablation led in 2021 and will grow with a strong CAGR”.

The market has been classified into laser & RF ablation, venous closure, and surgical. Under these, the laser & RF ablation segment held the largest market share in 2021 and is likely to grow at a considered CAGR during the forecast period.

Laser ablation treatment does not include lengthy hospital stays or discomfort during the recovery process which offers considerable benefits to the patients who are treated for varicose veins, thus bolstering the segment growth.

By Treatment Type

“Injection sclerotherapy holds the dominant market position”.

The market is segmented into Endovenous Ablation, Injection Sclerotherapy, and Surgical Ligation/Stripping. Injection sclerotherapy currently dominates the market.

The treatment is a painless procedure and patients can go home on the same day of the surgery, which is a major factor driving the growth of the segment.

Regional Analysis

“North America had a significant market share in 2021 and is set to grow at a healthy CAGR in the coming years”.

The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW).  The North American market held a significant market share in 2021 and is projected to grow at a healthy CAGR in the coming years.

Rising healthcare expenditure, a favorable reimbursement scenario, as well as a growing number of product approvals are likely to boost the market growth in the region. Also, well-established healthcare systems allow the easy availability of products, thereby augmenting the regional market growth.

Key Players

The following are the key players in the Varicose Vein Treatment Market (arranged alphabetically)

• Alma Lasers Ltd (Israel)
• AngioDynamics Inc. (US)
• Biolitec AG (BioMed Technology Holdings Ltd) (Germany)
• Boston Scientific (Lumenis Corporation) (US)
• Candela Medical (Syneron Medical Ltd) (US)
• El. En SpA Group (Quanta System) (Italy)
• Eufoton SRL (Italy)
• Medtronic PLC (Ireland)
• Sciton Inc. (US)
• Teleflex Incorporated (US)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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