Publication Month: Jan 2019 | Report Code: TIPHE100001235 | No. of Pages: 150 | Category: Medical Device | Status: Published
Varicose veins are large, swollen veins that usually appear on the legs and feet. This condition occurs when the valves in the vein do not function properly, hence affecting the normal flow of blood. In severe cases, the veins may rupture or transform into ulcers on the skin. Some of the treatments for varicose veins include surgery, sclerotherapy, ligation and stripping, and radiofrequency ablation among others. In recent years, various treatments have been developed for varicose veins that are minimally invasive and cause less complications post-surgery. The growth of the global varicose veins treatment devices market is attributed to the increasing incidence of chronic venous diseases (CVDs), increase in the adoption of endovenous laser ablation and technological developments in varicose veins treatments. However, lack of skilled professionals and disadvantages of the endovenous laser ablation techniques are the major factor hindering the market growth.
The global varicose veins treatment devices market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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Varicose veins are a common clinical problem in vascular surgery that happens when faulty valves in the veins allow blood to flow in the wrong direction or to pool. According to the University of Illinois-Chicago, School of Medicine, more than 23% of adults in the US are thought to be affected by the disease. In most cases, when lifestyle changes are not enough to cure the symptoms of the disease and if varicose veins are large, they may need to be removed surgically. In most cases, the varicose veins surgeries can be performed in outpatient departments wherein the patient is discharged few hours post the surgery. Laser treatments are often used to close of smaller veins, wherein strong light bursts are applied on the veins that gradually fades the swollen veins and subsequently disappears them. The endovenous thermal ablation by radiofrequency was approved by FDA in 1999, whereas the laser ablation therapy was approved shortly later in 2002. Since the advancements in these procedures have made the surgeons believe the immense potential benefits associated with these technique for the treatment of various diseases including varicose veins.
Endovenous laser ablation meets the goals of high efficacy and low morbidity defining the technique to be a gold standard for the management of varicose veins. The technique is the most frequently used technique followed by radiofrequency ablation to treat the patients suffering from varicose veins. According to the Department of Dermatology, Erasmus MC Rotterdam, 2016, endovenous thermal ablation (EVTA) procedures have become the most frequently used therapy for saphenous varicose veins, majorly among countries under which reimbursement of the procedure has been introduced. The minimally invasive technique meets the demand for cosmetically superior, less invasive and more successful treatment modalities. The advantage of EVTA is that it is a minimally invasive procedure and can be performed under local tumescent anesthesia, without the need for general anesthesia. Moreover, according to a meta-analysis on different treatment techniques for varicose veins by Advanced Vein and Laser Center, Clearwater, Florida 2015, recurrence rates were found to be lower after EVTA than after other classic surgeries. Thus, the increasing popularity of minimally invasive surgeries coupled with the advantages and growing adoption of endovenous ablation for the treatment of varicose veins is thus expected to propel the growth of varicose veins treatment devices market over the years to come.
In terms of product, the global varicose veins treatment devices market is segmented into ablation devices and surgical instruments. In 2017, the ablation devices segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.
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Based on treatment, the global varicose veins treatment devices market is segmented into injection sclerotherapy, endovenous ablation, and surgical ligation. The endovenous ablation segment held the largest market share in 2017. However, the injection sclerotherapy segment is estimated to grow at the highest CAGR during the forecast period.
In terms of end user, the global varicose veins treatment devices market is segmented into hospitals, specialized clinics and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2017. Moreover, the same segment is estimated to grow at the fastest rate during the forecast period.
|Market Size Value in||US$ 512.6 Million in 2017|
|Market Size Value by||US$ 1032.4 Million by 2025|
|Growth rate||CAGR of 9.6% from 2018-2025|
|No. of Pages||150|
|No. of Tables||73|
|No. of Charts & Figures||55|
|Historical data available||Yes|
|Segments covered||Product , Treatment , End User and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global varicose veins treatment devices market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
The List of Companies