Varicose veins treatment devices market to exhibit dynamic growth during the forecast period

The global varicose veins treatment devices market is increasing proficiently, expected to grow at a CAGR of 6.5%. Worldwide, the increasing burden of varicose veins along with improved therapeutic treatment options will drive the market growth. Around 40 million people in the U.S. suffer from varicose veins. Growing awareness about new sclerotherapy procedures, laser technology, and minimally invasive procedures to overcome the limitations by traditional procedures will increase the demand for advanced devices. Key factors such as increased expansion and acceptance for enzyme replacement therapy in emerging nations, rising geriatric population, and U.S. FDA approvals for varicose veins treatment products will drive the overall market growth on a global scale.

Ablation devices are expected to register higher growth by the end of 2030

Advancement in radiofrequency ablation devices with enhanced biocompatibility will drive market growth. Novel applications for endovenous laser therapy among patients as a standard treatment option will drive the market growth. For e.g. market approval of polidocanol endovenous microfoam (Varithena, BTG). In January 2019, Varithena (polidocanol injectable foam) was approved in the Canadian market for the treatment of incompetent great saphenous veins. Additionally, greater awareness and enhanced therapy launch in the outpatient centers and clinics for various varicose veins and chronic venous insufficiency procedures will boost the market growth in the developed nations. For e.g. Venefit™ procedure. Moreover, the new launch of devices and surgical products such as VenaSeal Closure System, Purespume (pipeline), VBOX hybrid, laser instruments, and other injection sclerotherapy products will further spur revenue growth in the near future.

Endovenous thermal ablation to witness a significant CAGR

Preference for thermal ablation minimally invasive procedures (also known as radiofrequency ablation or laser therapy) in developed nations show promising growth. Moreover, advancement in non-thermal ablation such as Clarivein treatment (ClariVein® infusion catheter) will drive the market growth. Advancement in microphlebectomy, ultrasound-guided foam sclerotherapy, microsclerotherapy, high ligation and stripping will further spur revenue growth during the forecast period. For e.g. Advancement in new Echotherapy technology (by Theraclion) show progressive growth for varicose veins treatment and venous ulcers. It is a non-invasive ablation therapy delivered by SONOVEIN® system, allows treatment without chemical injections, catheters, or incisions.

Increased research and development with strong product pipelines in the developed regions

Major players in the varicose veins treatment market are Medtronic plc, biolitec AG, Syneron Medical Ltd., Lumenis Ltd., Energist Group, AngioDynamics, Inc., Vascular Solutions, Inc., Quanta System S.p.A., Eufoton s.r.l., Sciton, Inc., Dornier MedTech GmbH, Miravas, BTG plc, Sciton, Inc., Merz Pharma GmbH & Co. KGaA, Fotona d.o.o., and others. Major players are developing new technology with collective biological solutions along with sclerotherapy, laser surgery, endovenous ablation therapy, ambulatory phlebectomy, vein surgery and others. New product launch, acquisitions, partnerships with hospitals, technology expansion in developing nations along with improved R&D on varicose veins treatment devices will drive the market growth during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Varicose Veins Treatment Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Varicose Veins Treatment Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Varicose Veins Treatment Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Varicose Veins Treatment Devices market?
• Which is the largest regional market for Varicose Veins Treatment Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Varicose Veins Treatment Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Varicose Veins Treatment Devices market worldwide?