Future Market Insights, a leading market research firm, has projected substantial growth for the global varicose vein treatment market, forecasting a steady CAGR of 6.8% from 2023 to 2033. The market, valued at approximately USD 765.2 million in 2023, is expected to reach a remarkable USD 1,477.3 million by the end of the forecast period.
This anticipated growth is attributed to increasing incidences of varicose veins, the rising demand for minimally invasive treatments, and heightened awareness of advanced medical solutions. Technological advancements in treatment options, including endovenous laser therapy, radiofrequency ablation, and sclerotherapy, are further driving demand as healthcare providers adopt more efficient and patient-friendly treatment approaches.
The growing geriatric population, coupled with sedentary lifestyles, is escalating the prevalence of varicose veins globally, creating a favorable environment for market expansion. North America is projected to maintain a dominant market share, given its advanced healthcare infrastructure and higher demand for innovative treatments. Meanwhile, the Asia-Pacific region is expected to showcase accelerated growth, driven by a surge in healthcare spending and increasing awareness around varicose vein treatments.
Based on product, endovenous laser systems dominated the varicose vein treatment market with a share of about 52.47% in 2022, and it is expected to retain its dominance during the forecast period. This can be attributed to the rising popularity of laser therapy for treating vein disorders on account of its higher effectiveness and non-invasive nature.
Varicose veins, also referred to as varicosities or varicoses, are swollen or twisted veins that are typically blue or dark purple. Due to poor blood flow, varicose veins typically seem swollen and elevated, and patients often complain of pain.
Competitive Landscape
Leading players in the market are adopting various organic and inorganic strategies such as new product launches and approvals, mergers, acquisitions, collaborations, and distribution agreements to expand their customer base and gain a competitive edge in the market.
Instances of key developmental strategies by the industry players in the market are given below:
- THERACLION, a pioneering business creating a scalable robotic platform for non-invasive echotherapy, announced the release of SONOVEIN HD in May 2022. This innovative technology combines the first and only extracorporeal therapeutic ultrasound treatment with cutting-edge imaging capabilities from SuperSonic Imagine, a French company based in Aix-en-Provence that Hologic just purchased.
- In April 2022, I-VASC, a medical device company based in Italy, closed a Series A investment worth EUR 1.8 million to bring up its VELEX device, which is used for the treatment of varicose veins.
- The second version of SONOVEIN, THERACLION’s HIFU therapy option for varicose veins, received the CE Mark in October 2020.
Key Players in the Global Market
- AngioDynamics Inc.
- Medtronic
- Syneron Medical Ltd.
- Alma Lasers Ltd.
- Alna-Medicalsystem GmbH
- LSO Medical
- WON TECH Co. Ltd.
- Intros Medical Laser GmbH
- Energist Ltd.
- Dornier Medtech GmbH
- Theraclion
- I-VASC
A Full Report Overview
Market Segmentation
By Product:
- Endovenous Laser Systems
- Diode Lasers
- YAG Lasers
- Endovenous Laser Fibres
- Bare Tip Laser Fibres
- Radial Tip Laser Fibers
- Gold Tip Laser Fibres
- Treatment Method
- Non-thermal Ablation
- Radiofrequency Ablation
- Sclerotherapy
By End User:
- Hospitals
- Ambulatory Surgical Centres
- Specialized Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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