The global endovenous laser therapy market is primed for substantial growth, according to a recent survey by Future Market Insights (FMI). The survey forecasts that the market, valued at USD 407.6 Million in 2022, is expected to nearly double to USD 811.0 Million by 2031.
Endovenous laser therapy, recognized for its efficacy in vascular treatments, is gaining traction worldwide. The survey highlights a robust Compound Annual Growth Rate (CAGR) of 7.9% over the forecast period, underscoring increasing adoption and confidence in this innovative medical procedure.
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Key factors driving market expansion include technological advancements enhancing treatment precision and patient outcomes. Endovenous laser therapy has emerged as a preferred choice among healthcare providers and patients seeking effective alternatives to traditional surgical interventions.
The survey findings reveal a burgeoning market landscape poised for unprecedented growth opportunities, with North America and Europe leading in adoption rates. These regions are anticipated to maintain their dominance throughout the forecast period, buoyed by robust healthcare infrastructure and favorable reimbursement policies.
Key Takeaways from Endovenous Laser Therapy Market Study:
- Endovenous laser systems held the maximum share of 92.0% in 2021 by component, expanding at a rapid rate owing to the rising number of varicose veins cases and increase in number of product launches with advanced features.
- Ambulatory surgical centers showed maximum growth among all end users with a market share of 36.2% in 2021 owing to the rise in demand for outpatient surgeries. In countries such as the U.S., endovenous laser therapy for varicose veins is majorly performed in ambulatory surgical centers rather than hospitals in order avoid long-time waiting in big hospital settings, which is why the segment is developing at a rapid rate
- North America held the largest share of 42.7% of the global endovenous laser therapy market by region in 2021 indicating the growth due to increase in prevalence of obesity and growing number of FDA approvals in North America.
“Growing prevalence of varicose veins, shift towards minimally invasive procedures, availability of novel laser treatment and increasing number of product launches Is Expected to Drive the Demand for Endovenous Laser Therapy over the Decade,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Key Companies Profiled:
- AngioDynamics, Inc.
- Syneron Medical Ltd.
- Dornier MedTech GmbH
- Alma Lasers Ltd.
- Alna-Medical system GmbH
- LSO Medical
- Wontech Co., Ltd.
- intros Medical Laser GmbH
- Energist Ltd.
Some of the leading manufacturers of endovenous laser therapy market are focusing on product launches, approvals, collaboration, and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
- In January 2021, Syneron Medical Ltd. announced the availability of the Frax Pro system. The FDA-cleared and CE-marked, non-ablative fractional device is the first platform featuring dual-depth skin resurfacing with both Frax 1550 and the novel Frax 1940 applicators.
- In July 2020, Wontech announced that ‘Picowon’, an alexandrite (755nm)-based pico laser, has obtained US Food and Drug Administration (FDA) approval for the first time in Asia and the second in the world.
Endovenous laser therapy Market by Category:
By Product:
- Endovenous Laser Systems
- Diode Lasers
- Yag Lasers
- Endovenous Laser Fibers
- Bare Tip Laser Fibers
- Radial Tip Laser Fiber
- Gold tip Laser Fiber
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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