Varicose veins often termed varicosities or varicose, is an illness that is characterized by vein swelling. In this condition, the veins appear blue or dark purple and are swollen. A patient with varicose veins may experience pain as a result of poor blood flow. The problem usually affects the legs and feet because standing and walking in an upright position puts more pressure on the veins of the lower body.
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The global varicose veins treatment market is expected to be worth US$ 991.5 million by 2027.
Global Varicose Veins Treatment Market: Drivers
The increased incidence of varicose veins is expected to drive the global varicose veins treatment market growth during the forecast period. According to the American Vein and Lymphatic Society, 2019, there around 40 million individuals in the U.S. have varicose veins.
Furthermore, the growing elderly population is expected to contribute to market growth. For instance, the World Health Organization predicts that the elderly population will reach 2 billion by the end of 2050, up from 900 million in 2015.
North America accounted for the largest share in the global varicose veins treatment market in 2019, representing 44.0 % of the market share, trailed by Europe.
Global Varicose Veins Treatment Market: Restraints
The scarcity of skilled professionals in developing countries is expected to hamper the global varicose veins treatment market growth over the forecast period. Radiofrequency ablation (ERA) and Endovenous laser treatment/ablation (ELA) need particular equipment and training for clinicians. According to the initial report of the Competition Commission of South Africa’s health market probe announced in July 2018, the estimated annual average of doctors per 1,000 patients in the private sector during 2010 – 2014 was 1.75.
Insurance providers in the Asia Pacific do not cover the total material cost of a procedure. This, in turn, is expected to hinder the global varicose veins treatment market growth to some extent over the forecast period.
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Global Varicose Veins Treatment Market: Opportunities
While ELA therapies are helpful in the treatment of varicose veins, they are more expensive than other operations such as electrical blasting, vein stripping charges, foam fillers, and others. For instance, in the U.K., the average cost of treatment for varicose veins using foam fillers is around US$ 2,146 for two legs, while the cost for vein stripping surgery is around US$ 3,219. The cost of an ELA operation for two legs ranges from US$ 4,292 to US$ 6,439, which is about double the cost of comparable treatment options. As a result, the introduction of low-cost ELA therapies is expected to provide profitable growth prospects for market players.
Furthermore, technical advances in ELA devices are expected to propel market growth. The currently available ELA devices on the market may cause consequences such as thrombophlebitis, nerve damage, burns, and deep vein thrombosis.
The Endovenous Laser Fibers segment was worth US$ 26.9 Million in 2019 and is expected to grow to US$ 45.1 Million by the end of 2027, at a CAGR of 6.6 %.
Market Trends/Key Takeaways
The use of venous intravascular ultrasonography (IVUS) for the treating of varicose veins is fast expanding as it provides a better outcome than traditional venography for the morphologic diagnosis of iliac venous outflow blockage.
The market is observing the advancement of ultra-high frequency transducers for the treatment of varicose veins. For example, Canon Medical Systems USA, Inc. announced a 33 MHz ultra-high frequency linear iDMS transducer in November 2018 that employs iDMS technology and a single crystal wide band to deliver excellent resolution and detail in ultrasound imaging. It can be used to evaluate superficial vascular conditions such as varicose veins.
Global Varicose Veins Treatment Market: Competitive Landscape
Some of the key players in the global varicose veins treatment market are LSO Medical, Dornier Medtech GmbH., Intros Medical Laser GmbH, AngioDynamics, Inc., WONTECH Co., Ltd., Alma Lasers Ltd., Energist Ltd., Syneron Medical Ltd., and Alna-Medicalsystem GmbH.
Global Varicose Veins Treatment Market: Key Developments
The market’s key players are concentrating on the approval and introduction of new products in order to grow their product range. For instance, Leucadia Pharmaceuticals in December 2019, introduced a generic version of Sodium Tetradecyl Sulfate (STS), a U.S.FDA-approved sclerosing agent used to treat minor varicose veins in the lower legs.
Major market players are similarly focusing on raising funds in order to increase their market share. For instance, Venclose, Inc. announced in December 2019 that it has completed its Series C fundraising round at US$ 27 million, to expand commercial footprints in the US and expand abroad.
𝐂𝐡𝐫𝐢𝐬𝐭𝐦𝐚𝐬 𝐒𝐚𝐥𝐞 𝐈𝐬 𝐋𝐢𝐯𝐞!
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐨 𝐀𝐯𝐚𝐢𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐅𝐫𝐨𝐦 𝟐𝟓-𝟑𝟎% 𝐭𝐢𝐥𝐥 𝟑𝟏-𝐃𝐞𝐜-𝟐𝟎𝟐𝟏
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Varicose Vein Treatment Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Varicose Vein Treatment Industry Impact
Chapter 2 Global Varicose Vein Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Varicose Vein Treatment (Volume and Value) by Type
2.3 Global Varicose Vein Treatment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Varicose Vein Treatment Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Varicose Vein Treatment Market Analysis
Chapter 6 East Asia Varicose Vein Treatment Market Analysis
Chapter 7 Europe Varicose Vein Treatment Market Analysis
Chapter 8 South Asia Varicose Vein Treatment Market Analysis
Chapter 9 Southeast Asia Varicose Vein Treatment Market Analysis
Chapter 10 Middle East Varicose Vein Treatment Market Analysis
Chapter 11 Africa Varicose Vein Treatment Market Analysis
Chapter 12 Oceania Varicose Vein Treatment Market Analysis
Chapter 13 South America Varicose Vein Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Varicose Vein Treatment Business
Chapter 15 Global Varicose Vein Treatment Market Forecast (2021-2027)
Chapter 16 Conclusions
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