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    Varicose Vein Treatment Market Growth Analysis

    Varicose Vein Treatment Market Growth Analysis
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    Varicose Vein Treatment Market Size, Share, Trends, Forecast & Industry Analysis: 2022 See more...

    Market Insights

    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.

    Varicose-Vein-Treatment-Market-Size-Chart

    What are varicose veins?

    Varicose Veins are veins that have become twisted and enlarged. Owing to significant lifestyle changes and excessive workloads at 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.

    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 favourable treatment and excluded use of anaesthesia 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.

    Varicose-Vein-Treatment-Market-Snapshot

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    Key Players

    Key players operating in the market are-

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

    Segment Analysis

    Product Trends

    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 that offers considerable benefits to the patients who are treated for varicose veins, thus bolstering the segment growth.

    Treatment Trends

    The market is segmented into Endovenous Ablation, Injection Sclerotherapy, Surgical Ligation/Stripping. The injection sclerotherapy currently dominates the market. The treatment is a painless procedure and patient can go home on the same day of the surgery, which is a major factor driving the growth of the segment.

    Regional Trends

    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, favourable reimbursement scenario, as well as a growing number of product approvals is 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.

    Varicose-Vein-Treatment-Market-by-Region

    Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Report - Features

    Market Segmentation

    3

    Regions Covered

    5

    Countries/Sub-Regions Covered

    16

    No. of Figures & Tables

    >70

    Company Profiles

    10

     

    The market is segmented into the following categories-

    By Product Type

    • Laser & RF Ablation
    • Venous Closure
    • Surgical

    By Treatment Type

    • Endovenous Ablation
    • Injection Sclerotherapy
    • Surgical Ligation/Stripping

    By Region

    • North America
    • Europe
    • Asia-pacific
    • Middle East & Africa
    • South America

    Varicose-Vein-Treatment-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis
    • Environment analysis: divers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis
    • Segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Varicose Vein Treatment Market Features

    Market Size in 2021

    USD 276.89 million

    Market Size in 2028

    USD 451.9 million

    Market Growth (2022-2028)

    7.12% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

    Segments Covered

    By Product (Laser & RF Ablation, Venous Closure, Surgical)

    By Treatment Type (Endovenous Ablation, Injection Sclerotherapy, Surgical Ligation/Stripping)

    By Region (North America, Europe, Asia-pacific, Middle East & Africa, South America)

    Top Companies in 2022

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

    Dominant Region

    North American market held a significant market share in 2021.

    Target Audience

    Here is the list of the group of customers that the varicose vein treatment market hopes to have the greatest opportunity to convert-

    • Varicose Vein Treatment companies
    • Varicose Vein Treatment distributors
    • Medical companies
    • Government organizations

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The market size was estimated at USD 276.89 million in 2021.

    Varicose Vein Treatment companies, Varicose Vein Treatment distributors, Medical companies, Government organizations are the target audience in the market.

    The market size is expected to reach USD 451.9 million in 2028.

    The market is expected to grow at 7.12% CAGR during 2022-2028.

    North America is expected to witness healthy growth in the market during the forecast years.

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

    Surging demand for minimal invasion techniques as well as the increasing geriatric population, economically favourable treatment and excluded use of anaesthesia are some of the factors driving the growth of the market.

    Laser & RF ablation segment held the largest share in the market in 2021.