The condition of enlarged veins majorly seen in feet and legs is defined as Varicose Vein. It is caused by the physiological condition, secretion changes, genetic disorders and high vital sign. Varicose Vein is generally found in women, obese population and people above the age of 40 years. Hereditary factors and constant position for extended hours also result in this condition. Around 40% of the US population is affected by this disease and more than 30 million people in the country are having venous insufficiency.
Global Varicose Vein Treatment Market was valued at USD 328.98 million in 2018 and is estimated to reach USD 448.62 million by 2023, growing at a CAGR of 6.4%. Some of the latest advances in varicose vein treatment techniques include laser ablation systems, extreme-pulsed-mild therapy, incorporation of closure structures, radiofrequency systems, and ultrasound-guided structures.
Various advantages like fewer incisions, quicker recuperation prices, better achievement quotes, much less patient trauma, low adverse aspect consequences, advanced efficacy, and less post-operative headaches provided by the gadgets in the treatment are the principal factors driving the Varicose Veins market. Shift towards less-invasive treatment procedures, accessibility of advanced varicosity treatment devices, the burden of varicosity cases, rising patient compliance & liableness, growing health care expenditure, and rise in ageing population are other factors that are fuelling the Varicose Vein treatment market.
On the flip side, the high prices associated with the treatment, shortage of skilled surgeons, fierce market competition and volatile reimbursement policies are some of the factors hindering the rapid growth of the market.
The full report of global varicose vein treatment market offers complete information about overall market size, share, trends and future developments. It also describes the global market based on the treatment, product, and regional analysis, along with the competitive landscape.
On the basis of mode of treatment, the varicose vein treatment market is segmented into endovenous ablation, injection sclerotherapy, and surgical ligation. Endovenous ablation segment accounted for the major share of the market and is likely to continue the same in the forecast period.
Based on the type of products, the global market is segmented into ablation devices, venous closure products, and surgical products. Ablation devices dominated the market in recent years and are anticipated to retain the same in the forecast period.
Based on the region, the Global Varicose Vein Treatment Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is leading the global Varicose Vein Treatment Market. This can be attributed to a variety of things such as advancement in technology that leads to advancements in infrastructure, continuous lifestyle changes, increasing awareness towards health and hygiene, increasing government funds, rising prevalence of unhealthy veins, high financial gain, and growing significance of aesthetics. In addition, favourable compensation policies, significantly among the US have significantly boosted the marketplace for in North America.
The Asia Pacific Varicose Vein Treatment Market is anticipated to grow with a double digit CAGR in the forecast period, which can be attributed to a surge in financial gain, improvement in health care infrastructure, and an increase in patient awareness regarding the advantage of seeking early treatment.
The full report also provides data related to leading companies in the world market. Some of the key players in the Varicose Vein Treatment Market include Medtronic plc (Ireland), AngioDynamics, Inc. (U.S.), biolitec AG (Austria), Syneron Medical Ltd. (Israel), Lumenis Ltd. (Israel), Dornier MedTech GmbH (Germany), Energist Group (U.K.), Eufoton s.r.l. (Italy), Vascular Solutions, Inc. (U.S.), Quanta System S.p.A. (Italy), Sciton, Inc. (U.S.), Fotona d.o.o. (Slovenia), BTG plc (U.K.), and Merz Aesthetics (U.S.).
The increasing adoption of technological innovations in the manufacturing, distribution and use of gadgets in the varicose vein treatment offers lucrative growth opportunities for these market giants to capitalize on the demand.
The scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
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