User-friendly devices with a greater focus on safety and efficiency will dominate the global market
Medical device manufacturers in the global varicose vein treatment market are looking to provide user-friendly devices to reduce the probability of manual errors. Portable devices with quicker procedural setup and an intuitive user interface are being provided by manufacturers in the global varicose vein treatment market to increase their customer base. Features including patient data management software compatibility and data storage are being offered by these devices. In addition to this, there is a greater focus on enhancing safety features in the global varicose vein treatment market to minimise the chances of injury and substantially improve patient safety. Manufacturers are continually launching new and improved products in the varicose vein treatment market with particular emphasis on R&D in endoveneous laser therapy and this should lead to significant market growth during the entire forecast period.
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Endovenous laser ablation has been rapidly adopted by U.S clinics
Veins in the lower extremity of the body are divided into further branched veins that lie superficially to the muscle fascia. Perforating veins cross the muscle fascia and link the deep veins beneath the fascia to the superficial veins. Recent global trends for treating lower extremity chronic venous disease is helped in no small part by using endovenous laser ablation. This is a critical component that should benefit the varicose vein treatment market over the duration of the study period. In a few countries such as the U.S., endoveneous laser therapy is primarily performed in clinics as opposed to hospitals to eliminate the long-waiting times typical of hospital settings. Therefore, physicians have quickly warmed up to laser therapy systems. In addition to this, a rising number of ABVLM-certified physicians is further boosting their ability to perform minimally invasive laser therapy to treat varicose veins. As of November 2016, there were about 750 ABVLM-certified physicians in the U.S. specialising in vascular and vein care, and this number is only expected to go up going forward.
Endovenous laser systems to remain the largest segment in the foreseeable future
The endovenous laser systems segment by treatment type is anticipated to register a CAGR of 7.3% in terms of value for the period 2016-2026. The endovenous laser systems segment accounted for just over half the total varicose vein treatment market share in the year 2016 and was valued at slightly above US$ 250 Mn. The endovenous laser systems segment is expected to gain 460 BPS during the course of the 10 year study. At the end of 2016, the treatment segment accounted for a little more than 45% value share of the global varicose vein treatment market and it is predicted to touch a value of almost US$ 380 Mn by the year 2026, with a CAGR of 5.3% during the forecast period. An absolute dollar opportunity of a little more than US$ 15 Mn in 2017 over 2016 can be expected for the endovenous laser systems segment in the global varicose vein treatment market. Revenue from the endovenous laser systems segment is anticipated to be more than US$ 500 Mn by the year 2026.
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Endovenous laser fibres to be just a little behind the endovenous laser systems segment
The endovenous laser fibres segment was worth more than US$ 20 Mn in the year 2015 and is anticipated to register a CAGR of 6.3% for the entire forecast period. An absolute dollar opportunity of more than US$ 1 Mn in 2017 over 2016 can be expected in the endovenous laser fibres segment of the global varicose vein treatment market. The revenue derived from the endovenous laser fibres segment is likely to be close to US$ 43 Mn by the end of the study period.