The size of the global varicose vein treatment market was worth USD 328.98 million in 2020. It is estimated to be growing at a CAGR of 6.4% to reach USD 448.62 million by 2025.
The rising cases of varicose veins mainly drive the varicose vein treatment market. This condition of enlarged veins appears mostly in the feet and legs. It can be caused by pregnancy, hormonal changes, genetic disorders, and high blood pressure.
The varicose vein treatment market's primary drivers include the availability of advanced varicose vein treatment devices, a massive burden of varicose vein cases, improving patient compliance & reliability, growing healthcare expenditure, and rapid growth of the aging population. Furthermore, the growing number of super-specialty hospitals with advanced infrastructure and an increase in the number of technologically advanced treatment products to treat the patients suffering from varicose vein diseases are significantly promoting the market growth. Easy availability of devices used for varicose veins treatment process, acceptable reimbursement policies, and esthetics' growing significance to propel the market demand.
The rising occurrences of the varicose vein health condition opened many opportunities for the major companies offering a wide variety of efficient treatment options.
However, the shortage of trained vascular surgeons and the high cost of varicose vein treatment procedures can hinder the growth of the global varicose vein treatment market. Developing countries such as India and South Africa face some challenges while dealing with varicose veins as there are high unmet needs. The challenges associated with the inconsistent reimbursement scenario for varicose vein treatment procedures.
Market Size Available
2019 to 2025
2020 to 2025
By Treatment Type, Devices, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
This research report segmented and sub-segmented the global varicose vein treatment market into the following categories and evaluated market size and forecast for each segment until 2025.
Varicose Vein Treatment Market - By Treatment Types:
The radiofrequency ablation devices segment is expected to command a significant share of the ablation devices market for varicose vein treatment based on the treatment type.
The sclerotherapy segment is predicted to be the fastest-growing segment in the global varicose vein treatment market during the forecast period. Factors such as requiring less bruising and scarring, simple follow-up treatments, and favorable reimbursement policies are propelling the demand of this segment.
Varicose Vein Treatment Market - By Device:
By device, the radiofrequency ablation devices dominate the varicose veins treatment market. The segment holds a 41.07% market share and is an effective treatment for facet joints, avoids surgery, and immediate pain relief.
Varicose Vein Treatment Market - By End-User:
Based on the end-user, the hospital segment is projected to lead the global varicose vein treatment market during the forecast period and accounted for a market share of 54.4% in 2019. The rise in the adoption of treatment procedures and the easy availability of varicose vein treatments are majorly fueling the growth rate of the market.
Varicose Vein Treatment Market - By Region:
Geographically, North America is predicted to be dominating the global varicose vein treatment market, followed by Europe during the forecast period. The launch of technologically advanced treatments, Y-O-Y growth in the incidence of varicose vein cases, and developed healthcare infrastructure are primarily driving this regional market. In North America, the United States varicose vein treatment market had accounted majority of the share and predicted to continue its domination throughout the forecast period. With favorable reimbursement policies, the U.S. population can get the treatment at a low cost. According to Chicago Vein Institute, varicose veins incidence is higher in women than in men, which is 55% in women and 45% in men. The Canadian varicose vein treatment market is predicted to grow at a healthy rate between 2020 to 2025. The BTG International Canada, Inc. introduced Varithena, a drug/device combination to treat varicose veins. It is used mainly for adults with clinically essential venous reflux diagnosed by duplex ultrasound.
The European varicose veins treatment market is likely to have promising growth, and the market is to have a CAGR of 6.3% from 2020 to 2025. The development of this regional market is mainly driven by the factors such as improved healthcare infrastructure, growing access to varicose vein medical devices, and patient compliance. European countries such as the U.K, Germany, and France are expected to have lucrative CAGR during the forecast period, and the U.K to govern most European market share.
The Asia Pacific varicose vein treatment market is anticipated to witness impressive growth in the near future. Rising awareness levels in the patients to have early diagnosis and treatment and rapid rise in the aging population in the APAC counties are majorly accelerating the market growth in this region. The Chinese market is predicted to lead this regional market due to growing healthcare expenses, the surge in the high adoption of unhealthy lifestyles, and rising disposable income accelerate the market demand. India and Japan are expected to have impulsive market growth, with favorable government initiatives, high adoption of laser treatments, and many key players.
The Latin American varicose vein treatment market is another lucrative region globally and is predicted to register a notable CAGR during the forecast period. The rising patient compliance, growing geriatric population, and hike in healthcare expenditure are expected to drive this regional market. The Brazilian market is forecasted to dominate this regional market between 2020 to 2025.
The Middle East & Africa varicose vein treatment market is anticipated to have considerable growth from 2020 to 2025. The launch of durable and reliable procedures and constant efforts in improving the healthcare infrastructure are creating growth opportunities for the market in this region. Africa is likely to have an inclined growth rate in this period.
KEY MARKET PLAYERS:
Some of the promising companies leading the global varicose vein treatment market profiled in the report are 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.), Merz Aesthetics (U.S.).
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Endovenous ablation
5.1.3 Surgical litigation/ Stripping
5.1.5 Y-o-Y Growth Analysis, By Treatment
5.1.6 Market Attractiveness Analysis, By Treatment
5.1.7 Market Share Analysis, By Treatment
5.2.2 Ablation devices
184.108.40.206 Radiofrequency ablation devices
220.127.116.11. Laser ablation devices
5.2.3 Venous closure products
5.2.4 Surgical products
5.2.5 Y-o-Y Growth Analysis, By Product
5.2.6 Market Attractiveness Analysis, By Product
5.2.7 Market Share Analysis, By Product
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Treatment
126.96.36.199 By Product
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Treatment
220.127.116.11 By Product
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Treatment
126.96.36.199 By Product
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Medtronic plc
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 AngioDynamics, Inc.
8.3 Syneron Medical Ltd.
8.4 Lumenis Ltd.
8.5 Dornier MedTech GmbH
8.6 Energist Group
8.7 Vascular Solutions, Inc.
8.8 Merz Aesthetics
8.9 AccuVein Inc
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures