Varicose Vein Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Global Varicose Vein Treatment Market: Overview and Scope
The global varicose vein treatment market is primarily driven by the rising incidence of varicose veins. This condition of enlarged, gnarled veins, appearing mostly in the feet and legs, is caused by several factors including pregnancy, hormonal changes, genetic disorders, obesity, sleep disorders, high blood pressure levels, and lifestyle-associated factors such as prolonged standing and increased stress levels.
Some of the latest advances in varicose vein treatment technology are laser ablation systems, intense-pulsed-light therapy, incorporation of closure systems, radiofrequency systems, and ultrasound guided systems. These technologies and devices present a host of benefits such as fewer incisions, faster recovery rates, higher success rates, less patient trauma, low adverse side effects, improved efficacy, and fewer post-operative complications.Key varicose vein treatment products include ultrasound guided sclerotherapy devices, endovenous ablation devices, and surgical stripping devices.
The research publication examines the global varicose vein treatment market by segmenting it on the basis of key parameters such as product and technology type and geography. Each segment and sub-segment has been evaluated in depth to give readers a clear understanding of the structure and scope of the market.
Various market dynamics such as drivers, opportunities, and restraints have also been studied in the report. A detailed assessment of the vendor landscape makes for an interesting read and gives clients sharp insights on their competitors.
Global Varicose Vein Treatment Market: Key Drivers and Challenges
The global market for varicose vein treatment is fueled by factors such as reduced trauma, greater exposure to the site of application, high operative success rates, and faster blood flow restoration.
Demand for endovenous ablation treatment devices is anticipated to expand at a rapid pace in the next few years due to factors such as short treatment time, improved blood circulation, minimal invasion, and complete closure of the treated area. Ultrasound sclerotherapy devices have also been witnessing strong demand owing to benefits such as time and cost efficiency, reduced risk of collateral damage to surrounding tissues, painless procedure, increased penetration, no requirement of anesthesia, fewer post-operative complications, less scarring, and minimal need for incisions during the procedure.
In contrast, the market for varicose vein treatment faces a few challenges in the developed regions of Europe and North America. Factors such as the high cost of varicose vein treatment procedures, lack of training for vascular surgeons, implementation of health care reforms, immensely competitive market leading to difficulty in maintaining sustainability, and inconsistent reimbursement scenario pose a threat to the development of the global varicose vein treatment market.
Global Varicose Vein Treatment Market: Region-wise Outlook and Vendor Landscape Evaluation
The global market for varicose vein treatment covers four key segments: Europe, North America, Asia Pacific, and Rest of the World. North America is the clear leader in the overall varicose vein treatment market.
The rapid growth in this market can be attributed to a number of factors including advanced health care infrastructure, continuous lifestyle-associated changes, growing health care awareness, increasing government spending, rising prevalence of varicose veins, high disposable income, and growing significance of esthetics. In addition, favorable reimbursement policies, especially in the U.S., have significantly boosted the market for varicose vein treatment in North America.
The Asia Pacific varicose vein treatment market is anticipated to witness impressive growth in the near future owing to factors such as surge in disposable income, improvement in health care infrastructure, and increase in patient awareness about the advantage of seeking early treatment.
Some of the prominent players competing in the global varicose vein treatment market are VNUS Medical Technologies, Astra Tech, Covidien PLC, Kreussler Pharma, InaVein, B.Braun Melsungen, Vascular Solutions, Dornier MedTech, and AngioDynamics. Most of these players have been adopting various strategies to gain market share.
Key strategies adopted by leading companies include mergers and acquisitions, product line and geographic expansion, R&D investments, and competitive pricing policies.
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