Varicose Veins Treatment Devices Market Size was valued at USD 1.2 Billion in 2022. The Varicose veins treatment devices market industry is projected to grow from USD 1.28 Billion in 2023 to USD 2.24 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032).
Increasing prevalence of varicose veins, advancements in medical technology, increasing awareness and patient demand, preference for non-surgical treatments, rising healthcare expenditure, increasing urbanization and sedentary lifestyles, improving reimbursement landscape, growing aesthetic concerns, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for varicose vein treatment devices is expanding as a result of the increasing prevalence of varicose veins. Varicose veins are a venous condition marked by twisted and swollen veins, and their common occurrence has led to an increase in demand for efficient therapeutic methods.
There has been a noticeable shift in the number of people seeking medical care as knowledge of the illness and its possible health effects has expanded. Nowadays, varicose veins are acknowledged as a serious medical condition that can result in discomfort, pain, and even more serious problems including venous ulcers and blood clots. They are no longer only seen as an aesthetic issue. Therefore, the need to cure varicose veins has motivated people to actively look for treatment choices, thereby igniting the market for varicose vein treatment equipment.
There can be no denying the effect on quality of life. Mobility restrictions, ongoing pain and discomfort, and a reduction in an individual's general well-being can all be brought on by varicose veins. Due to this detrimental influence on daily life, many people are now looking for ways to get relief from their suffering, which has increased the demand for efficient treatment tools. Additionally, varicose veins are more likely to form in the aging population, which is defined by physiological changes in blood arteries and valves. Varicose vein prevalence is expected to increase as the average age of the world's population rises, necessitating the use of cutting-edge treatment methods and equipment.
The market's growth trajectory has been largely influenced by the trend toward less invasive procedures. Innovative therapy tools that enable less invasive procedures have been made possible by modern medical technology. These procedures, like radiofrequency ablation (RFA) and endogenous laser therapy (EVLT), not only have increased success rates but also quick recovery durations. The attraction of such less invasive techniques is consistent with the shifting patient preference for therapies that reduce pain and recovery time. The preference for non-surgical procedures over surgical ones has sparked the creation of innovative technologies specifically suited for these operations.
The market has also been helped by aesthetic worries that frequently accompany varicose veins because of their noticeable look. People seek therapies not only to address medical problems but also to improve their physical appearance in a culture that places an increasing emphasis on looks. Varicose veins' unsightly appearance has prompted a demand for technologies that can offer effective, aesthetically pleasing, and functionally sound solutions. Thus, driving the Varicose veins treatment devices market revenue.
The varicose veins treatment devices market segmentation, based on type, includes endovenous ablation, sclerotherapy and surgical ligation & stripping. The endovenous ablation segment dominated the market in 2022. Varicose vein treatment with endovenous ablation techniques is less intrusive than using typical surgical methods. This method eliminates the need for large surgical incisions and speeds up patient recovery by introducing a catheter through a small incision into the vein that is damaged.
The varicose veins treatment devices market segmentation, based on end use, includes vein clinics, hospitals and ambulatory care unit. The hospitals category generated the most income in 2022. Hospitals act as centers for all-encompassing healthcare by providing a variety of services under one roof. This covers hospitalization, operations, doctor consultations, diagnostic testing, imaging, and rehabilitation. Patients favor hospitals because they may easily get a variety of services in one place.
Figure 1: Varicose Veins Treatment Devices Market, by end use, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Varicose Veins Treatment Devices Market dominated this market in 2022 (45.80%). The area is proud of its state-of-the-art medical infrastructure, which includes cutting-edge hospitals, specialist clinics, and modern medical facilities. The adoption of sophisticated treatment methods, such as minimally invasive procedures made possible by varicose veins treatment devices, is supported by this infrastructure. Further, the U.S. Varicose veins treatment devices market held the largest market share, and the Canada Varicose veins treatment devices market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VARICOSE VEINS TREATMENT DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Varicose veins treatment devices market accounts for the second-largest market share. Patient safety and product quality are given top priority by European regulatory authorities. Medical professionals and patients are more likely to trust devices that adhere to strict regulatory standards, which helps them gain traction on the market. Further, the German Varicose veins treatment devices market held the largest market share, and the UK Varicose veins treatment devices market was the fastest growing market in the European region.
The Asia-Pacific Varicose Veins Treatment Devices Market is expected to grow at the fastest CAGR from 2023 to 2032. The healthcare infrastructure of many Asia-Pacific nations has seen tremendous investment. The desire for cutting-edge treatment choices like varicose veins treatment devices rises as medical facilities evolve and access to healthcare services improves. Moreover, China’s varicose veins treatment devices market held the largest market share, and the Indian Varicose veins treatment devices market was the fastest growing market in the Asia-Pacific region.
Varicose veins treatment devices Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the varicose veins treatment devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Varicose veins treatment devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Varicose veins treatment devices industry to benefit clients and increase the market sector. In recent years, the Varicose veins treatment devices industry has offered some of the most significant advantages to medicine. Major players in the Varicose veins treatment devices market, including AngioDynamics,Medtronic,Teleflex Incorporated,Sciton, Inc.,Dornier Medtech,Merit Medical Systems,Alma Lasers,Biolitec AG,Boston Scientific Corporation and others, are attempting to increase market demand by investing in research and development operations.
AngioDynamics Inc. (AngioDynamics) creates, produces, and sells image-guided, minimally invasive therapeutic and diagnostic devices. In addition to venous products and renal therapy items, its product line also includes vascular products, radiofrequency ablation and NanoKnife systems, vascular access products, angiographic products and accessories, devices for dialysis, angioplasty, drainage, thrombolysis, and embolization. The company's products have uses in interventional radiology, interventional cardiology, and minimally invasive cancer and peripheral vascular disease detection and therapy. In addition to a network of distributors outside the US, which includes distributors in Europe, Asia, Latin America, and other regions, it distributes its products directly to consumers in the US. The US city of Latham serves as the headquarters of AngioDynamics.
A company that specializes in medical technology with the name of Medtronic Plc (Medtronic), formerly known as Medtronic Inc., develops, manufactures, and sells medical devices. It offers treatments for ailments such heart valve problems, heart failure, aortic, peripheral vascular, venous renal, and neurological problems, as well as for illnesses affecting the spine and musculoskeletal system and the ears, nose, and throat. It also provides biologic solutions for the orthopedic and dental markets. It sells its goods to hospitals, clinics, institutions, government healthcare programs, distributors, and group buying organizations in the Asia Pacific, Europe, the Americas, the Middle East, and Africa. Dublin, Ireland is home to Medtronic's corporate headquarters.
Key Companies in the varicose veins treatment devices market include
Varicose veins treatment devices Industry Developments
May 2022: Innovative business THERACLION has introduced SONOVEIN HD, a scalable robotic platform for non-invasive echo therapy. This revolutionary technology combines the first and only extracorporeal therapeutic ultrasound solution with the cutting-edge imaging capabilities of SuperSonic Imagine, which Hologic just acquired.
April 2022: For the introduction of its VELEX gadget, I-VASC, an Italian manufacturer of medical devices, has closed a EUR 1.8 million Series An investment. With a process known as Empty Vein Ablation (EVA), VELEX, a device that gained CE Mark in May 2021, can be used to treat CVI and varicose veins.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.2 Billion |
| Market Size 2023 | USD 1.28 Billion |
| Market Size 2032 | USD 2.24 Billion |
| Compound Annual Growth Rate (CAGR) | 7.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | AngioDynamics, Medtronic, Teleflex Incorporated, Sciton, Inc., Dornier Medtech, Merit Medical Systems, Alma Lasers, Biolitec AG, Boston Scientific Corporation. |
| Key Market Opportunities | Growing demand for minimally invasive procedures. |
| Key Market Dynamics | Rising awareness about varicose veins. |
Varicose Veins Treatment Devices Market Highlights:
Frequently Asked Questions (FAQ) :
The varicose veins treatment devices market size was valued at USD 1.2 Billion in 2022.
The market is projected to grow at a CAGR of 7.20% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are AngioDynamics, Medtronic, Teleflex Incorporated, Sciton, Inc., Dornier Medtech, Merit Medical Systems, Alma Lasers, Biolitec AG, and Boston Scientific Corporation.
The Endovenous Ablation category dominated the market in 2022.
The Hospitals had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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