USD 1.22 Billion
Varicose Veins Treatment Market Size, Share, Growth Analysis, By Type(Endovenous Ablation, and Surgical Ligation & Stripping), By End-use(Vein clinics, hospitals, and ambulatory care units), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35E2025 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Varicose Veins Treatment Market Insights
Varicose Veins Treatment Market size was valued at USD 1.30 Billion in 2022 and is poised to grow from USD 1.38 Billion in 2023 to USD 2.26 Billion by 2031, at a CAGR of 6.32% during the forecast period (2024-2031).
The global varicose veins treatment market has experienced significant growth in recent years and is expected to continue expanding in the coming years. Varicose veins are a common medical condition characterized by swollen and twisted veins, primarily in the legs. Factors such as aging population, sedentary lifestyles, obesity, and hereditary factors contribute to the rising prevalence of varicose veins worldwide, driving the demand for effective treatment options. Several treatment modalities are available in the market, including minimally invasive procedures such as endogenous laser ablation, sclerotherapy, and radiofrequency ablation. These procedures offer advantages such as reduced pain, shorter recovery time, and minimal scarring compared to traditional surgical methods. The increasing adoption of minimally invasive treatments is fueling the growth of the varicose veins treatment market. Moreover, advancements in technology and medical devices have further improved treatment outcomes and patient satisfaction. Innovative techniques, such as ultrasound-guided foam sclerotherapy and non-thermal ablation, have shown promising results in effectively treating varicose veins. These advancements have not only expanded the treatment options available but also enhanced the overall patient experience. However, despite the market's growth potential, several challenges exist. Reimbursement issues and the high cost of treatment can limit the accessibility of varicose veins treatment for some patients. Inadequate insurance coverage and reimbursement policies may pose financial barriers, particularly in developing countries. Additionally, the lack of awareness and underdiagnosis of varicose veins in certain regions hinder market growth. Furthermore, competition among market players is increasing as new entrants and existing companies develop innovative treatment solutions. This competition drives the need for continuous research and development, leading to higher investments in product development and marketing efforts. Regulatory requirements and product approval processes can also pose challenges for manufacturers, potentially delaying the launch of new treatments.
US Varicose Veins Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
6.32% CAGR
Global Varicose Veins Treatment Market ($ Bn)
Country Share for North America Region (%)
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Varicose Veins Treatment Market Segmental Analysis
The global varicose veins treatment market is segmented on the basis of type, end-use, and region. By type, the market is segmented into Endovenous Ablation, and Surgical Ligation & Stripping. By end use, the market is segmented into vein clinics, hospitals, and ambulatory care units. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Varicose Veins Treatment Market Analysis By Type
The largest revenue share in the varicose veins treatment market was attributed to the sclerotherapy segment. This segment's dominant position can be attributed to several advantages associated with sclerotherapy treatment, including reduced bruising and scarring, avoidance of sedation, shorter hospital stays, simple follow-up treatments, and favorable reimbursement policies. Notably, in the US, Medicare provides coverage for patients undergoing sclerotherapy treatment. The market is further categorized into three types: endovenous ablation, sclerotherapy, and surgical ligation and stripping. Among these, the endovenous ablation segment is projected to exhibit the fastest compound annual growth rate during the forecast period. Endovenous ablation procedures are preferred over conventional methods like surgical ligation and stripping due to their minimally invasive nature and lower complication rates. Additionally, market players are actively focusing on the development of efficient and technologically advanced products, which is expected to drive market growth.
Varicose Veins Treatment Market Analysis By End Use
The global varicose veins treatment market can be segmented by end use into vein clinics, hospitals, and ambulatory care units. Among these segments, hospitals have traditionally been the dominant end user for varicose veins treatment. Hospitals offer a comprehensive range of medical services and have the necessary infrastructure and expertise to diagnose and treat varicose veins effectively. They often have specialized departments or centers dedicated to vascular diseases, including varicose veins. Hospitals are equipped with advanced medical equipment and can handle complex cases, making them a preferred choice for patients requiring surgical interventions or more advanced treatment options.
On the other hand, vein clinics have emerged as a fast-growing segment in the varicose veins treatment market. Vein clinics focus specifically on the diagnosis and treatment of venous disorders, including varicose veins. These clinics are dedicated to providing specialized care for patients with venous diseases and often offer a variety of treatment options, including minimally invasive procedures.
Global Varicose Veins Treatment Market By End use
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Varicose Veins Treatment Market Regional Insights
North America emerged as the dominant market, accounting for a revenue share. This can be attributed to a significant patient base in the region, with a strong emphasis on aesthetics. People in North America are increasingly willing to undergo cosmetic procedures due to the noticeable results and perceived safety. Laser treatments, in particular, have played a significant role in reducing the stigma associated with cosmetic procedures and gaining social acceptance, especially among men. The demonstrated safety and efficacy of laser procedures have contributed to their popularity in the region.
On the other hand, the Asia Pacific region is projected to witness the fastest growth, during the forecast period. This growth is driven by several factors, including a large elderly population, increasing disposable income, and rising awareness regarding varicose veins treatment procedures in the region. As the population ages and disposable income levels rise, more individuals are seeking treatment options for varicose veins, leading to market expansion in the Asia Pacific region.
Global Varicose Veins Treatment Market By Region
- Largest
- Fastest
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Varicose Veins Treatment Market Dynamics
Varicose Veins Treatment Market Drivers
Growing Awareness and Patient Education
- Increased awareness and education regarding varicose veins and available treatment options have contributed to market growth. Public awareness campaigns, patient education initiatives, and information dissemination through various channels have encouraged individuals with varicose veins to seek appropriate treatment.
Favorable Reimbursement Policies
- Positive reimbursement policies, particularly in developed countries, have facilitated access to varicose veins treatment for patients. Insurance coverage and reimbursement support for procedures like sclerotherapy and endovenous ablation have made these treatments more affordable and accessible, boosting market growth.
Varicose Veins Treatment Market Restraints
Regulatory Challenges
- Regulatory requirements and product approval processes can pose challenges for manufacturers in the varicose veins treatment market. Obtaining regulatory approvals and complying with various regulations in different countries can be time-consuming and costly, affecting the introduction of new treatments and innovations.
Alternative Treatment Options
- Alternative treatments, such as compression therapy and lifestyle modifications, may be considered by some patients as an initial or complementary approach to managing varicose veins. These non-invasive options can compete with more invasive treatment methods, potentially impacting the market growth of varicose veins treatments.
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Varicose Veins Treatment Market Competitive Landscape
The global varicose veins treatment market is characterized by a competitive landscape with several players striving to capture a significant market share. These market participants include manufacturers, healthcare providers, research institutions, and other stakeholders involved in the development, production, and distribution of varicose veins treatment solutions. The competition in the market is driven by factors such as product efficacy, safety, innovation, pricing strategies, and geographic presence. Companies in the market focus on developing and launching technologically advanced treatment options to meet the growing demand for minimally invasive procedures. Research and development efforts are directed towards enhancing the effectiveness of existing treatments and exploring novel therapeutic approaches.
Additionally, market players engage in strategic collaborations, partnerships, and acquisitions to expand their product portfolios and geographical reach. The competitive landscape is also influenced by factors such as regulatory compliance, product approvals, and intellectual property rights. Adhering to regulatory guidelines and obtaining necessary approvals for varicose veins treatments are crucial for market players to ensure the commercialization and distribution of their products. Furthermore, market participants leverage marketing and promotional activities to create awareness about their offerings and differentiate themselves from competitors. Strong distribution networks, effective supply chain management, and favorable reimbursement policies play a vital role in maintaining a competitive edge in the market.
Varicose Veins Treatment Market Top Player’s Company Profile
- Medtronic (Ireland)
- AngioDynamics (US)
- Lumenis (Israel)
- Syneron Medical Ltd. (Israel)
- Biolitec AG (Germany)
- BTG International Ltd. (UK)
- Vascular Solutions, Inc. (US)
- Energist Group (UK)
- Eufoton (Italy)
- Quanta System (Italy)
- Miravas (France)
- Vein Clinics of America (US)
- Alna-Medical System GmbH (Germany)
- Miravas SAS (France)
- Sciton, Inc. (US)
- Dornier MedTech GmbH (Germany)
- LSO Medical (France)
- Vascular Insights, LLC (US)
- WONTECH Co., Ltd. (South Korea)
- LSO Medical SAS (France)
Varicose Veins Treatment Market Recent Developments
- In January 2022, The European Medicines Agency (EMA) approved the Varithena system, a new minimally invasive treatment for varicose veins that uses radiofrequency energy to seal the affected veins.
- In March 2022, The FDA approved the Venaseal system, a new minimally invasive treatment for varicose veins that uses a medical adhesive to seal the affected veins.
- In May 2022, A study published in the British Journal of Surgery found that laser ablation therapy was cost-effective and the preferred initial treatment for symptomatic varicose veins having a diameter of at least 3 mm, with evidence of saphenous vein reflux.
Varicose Veins Treatment Key Market Trends
- Growing Emphasis on Combination Therapies: Combination therapies involving multiple treatment modalities are gaining popularity in varicose veins treatment. Combining procedures such as endovenous ablation and sclerotherapy can optimize outcomes by targeting different aspects of the venous disease, leading to improved efficacy and patient satisfaction.
- Focus on Patient-Centric Approaches: There is an increasing emphasis on patient-centric care in varicose veins treatment. Healthcare providers are focusing on personalized treatment plans, patient education, and shared decision-making to ensure optimal outcomes and patient satisfaction.
Varicose Veins Treatment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global varicose veins treatment market analysis is experiencing significant growth and is expected to continue expanding in the coming years. Factors such as the increasing prevalence of varicose veins, technological advancements in treatment options, and growing awareness among patients are driving market growth. Minimally invasive procedures, such as endovenous ablation and sclerotherapy, are gaining popularity due to their effectiveness, shorter recovery times, and minimal scarring. Combination therapies and patient-centric approaches are also emerging as key trends in the market, allowing for personalized treatment plans and improved outcomes. The market is witnessing expansion in emerging economies, driven by factors like rising disposable income and improving healthcare infrastructure. Integration of telemedicine and digital solutions, along with ongoing research and development activities, further contribute to the market's growth. However, challenges such as limited awareness, high treatment costs, and regulatory complexities remain. Overall, the global varicose veins treatment market presents significant opportunities for market players to meet the growing demand for safe and effective treatment options while addressing the unmet needs of patients worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.30 Billion |
| Market size value in 2031 | USD 2.26 Billion |
| Growth Rate | 6.32% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Varicose Veins Treatment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Varicose Veins Treatment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Varicose Veins Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Varicose Veins Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Varicose Veins Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Varicose Veins Treatment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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