Varicose Veins Treatment Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Varicose Veins Treatment Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Medical Devices | PPT format

Report Digest


Global Varicose Veins Treatment Devices Market: Snapshot

The global varicose veins treatment devices market has been benefitting increasingly from the advent of a few minimally invasive therapies since the beginning of this decade. The notable of these devices are endovascular heat ablation (EVHA), Subfascial Endoscopic Perforator Surgery (SEPS), and sclerotherapy. Of these, probably the most recent one to gain popularity is SEPS. Meanwhile, radiofrequency ablation (RFA) devices has been gathering large traction in EVHA as a prominent surgical procedure for treatment of venous valve insufficiency. The adoption of various medical devices used in radiofrequency ablation gained momentum, riding on the back of growing demand for minimally-invasive endovenous treatments. The growth in this segment is further fueled by substantial advances in the delivery mechanism for endovenous RFA. However in advanced stages of varicose veins, SEPS has proved to be helpful, and the treatment devices used in the procedure have also witnessed considerable advancement, such as in ultrasonic coagulation and cutting devices.  Furthermore, the global varicose veins treatment devices market is garnering lucrative gains from favorable regulations in developed nations to ensure insurance coverage for popular therapies.

Another vital area likely to witness substantial advancement is the devices used in sclerotherapy. In particular, foam sclerotherapy is preferred to conventional surgical stripping, especially for treating small- and medium-sized varicose veins in patient populations. The benefits are obvious—higher efficacy and faster recovery. Hence, the varicose veins treatment devices market may see large developments in this area. Advancements in outpatient procedures relating to this therapy may help reduce the failure rates of foam sclerotherapy, believe experts. In the coming years, the market will substantially benefit from high-quality randomized controlled trials. For instance, these studies may focus on the clinical efficacy of laser devices and radiofrequency devices in the varicose veins treatment devices market. Advancement in this regard will help the market witness new, exciting avenues.

Varicose Veins Treatment Devices Market: Overview

The demand within the global market for varicose veins treatment devices is rising on account of the high incidence of varicose veins amongst adults. Varicose vein, also known as varicosities, is a condition under which the veins become enlarged due to overfilling of blood. Varicose veins may appear to be reddish blue or bluish-purple and are often quite painful. Women are more prone to suffer from varicose veins as against men, and around 25% of adults are estimated to suffer from this medical condition. Owing to the aforementioned factors, the demand within the global market for varicose veins is expected to rise at a starry rate. The occurrence of varicose veins is more pronounced in women because pregnancy and menopause are two of the major triggers for varicose veins. It is projected that the quest of the medical fraternity to provide immediate treatment to patients suffering from varicose veins would propel demand within the global market for varicose veins treatment devices over the coming years.

The global market for varicose veins treatment devices may be segmented based on the following parameters: type of treatment and region. Since the market for varicose veins is closely related to the medical industry, it is important to understand the aforementioned segments in light of the medical and healthcare industries.

A report on the global varicose veins treatment devices market uncovers several key dynamics prevailing in the market. The report has been produced after conducting a meticulous study of the global market for varicose veins treatment market over a given timeframe.

Varicose Veins Treatment Devices Market: Trends and Opportunities

Although apart from being aesthetically displeasing, varicose veins do not cause any major discomfort at the initial stages. However, in severe cases, they can be extremely painful and may even cause excessive swelling in various body parts. This necessitates early treatment of varicose veins and has led to an increased demand within the global market for varicose veins treatment devices. Furthermore, varicose veins rupture in their last stages, and could pose a threat to the lives of affected persons. This is another factor that has propelled demand within the global market for varicose veins in recent times.

The development of advanced devices for the treatment of varicose veins has also emerged as a key contributor to market growth. Besides this, availability of minimally invasive treatments for varicose veins has also boded well for the growth of the global market. Since the population demographic above the age of 50 is more prone to the occurrence of varicose veins, the rising geriatric population has also facilitated market growth.

Varicose Veins Treatment Devices Market: Regional Outlook

The replacement of surgeries for the treatment of varicose veins by non-invasive treatments in the US and Canada has led to the growth of the market in North America. Furthermore, increasing medical tourism has led to the inflow of varicose veins treatment devices in India and China. This has emerged as a key driver of demand within the market for varicose veins treatment devices in Asia Pacific.

Varicose Veins Treatment Devices Market: Competitive Landscape

Some of the leading players in the global market for varicose veins are Medtronic plc, Syneron Medical Ltd., AngioDynamics, Inc., Biolitec AG, Energist Group, Lumenis Ltd., Eufoton srl, Teleflex, Inc, and Quanta Systems S.p.A. These market players are projected to focus on quality control and total quality management in order to attain renown in the global varicose veins treatment devices market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.