Varicose Veins Treatment Devices Market Report | Growth Forecasts 2025

Varicose Veins Treatment Devices Market to 2025 - Global Analysis and Forecasts by Product (Ablation Devices and Surgical Products), Treatment (Injection Sclerotherapy, Endovenous Ablation, and Surgical Ligation), End User (Hospitals, Specialized Clinics and Ambulatory Surgical Centers) and Geography

  • Report Code : TIPHE100001235
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 150
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The varicose veins treatment devices market was valued at US$ 512.6 million in 2017 and it is projected to reach US$ 1,032.4 million by 2025; it is expected to grow at a CAGR of 9.6% from 2018 to 2025.

Market Insights and Analyst View:

Veins twisted or enlarged underneath the skin are termed varicose veins. Varicose veins are also known as varicoses or varicosities. Varicose veins are a common medical condition caused by obstructed blood flow. For some patients, varicose veins may only be a cosmetic concern, but for others, it may cause aching legs and discomfort, sometimes leading to more serious health problems. Some potential risk factors for varicose veins include age, pregnancy, obesity, and family history. There is a wide range of treatment options available for varicose veins. The minimally invasive treatment options include endoscopic vein surgery, sclerotherapy, endovenous ablation therapy, laser surgery, and micro sclerotherapy.

The rise in demand for minimally invasive procedures for varicose veins treatment and the growing number of product developments by market players is likely to propel the growth of the varicose veins treatment devices market. The aged population is more prone to developing varicose veins. Thus, the increasing aging population across the globe is likely to increase the demand for varicose veins treatment devices.

Growth Drivers and Challenges:

Increasing Incidence of Chronic Venous Diseases

Chronic venous diseases (CVD) are a group of chronic conditions caused by veins that become abnormal or diseased. The problems included in chronic venous diseases majorly include varicose veins, spider veins, leg swelling and pain, leg ulcers, Phlebitis, and others. Varicose veins are highly prevalent among adults, generating a sustainable burden of global healthcare spending. The increasing incidence of venous diseases such as varicose veins can thus increase the growth of the global varicose veins treatment market. According to the American Venous Forum, approximately 23% of adults in the United States suffer from varicose veins. That is, over 40 million people in the US are affected by varicose veins. More people cannot work due to vein disorders than arterial disease. As per the survey report published by Sigvaris, over 30% of women and about 10% of men consult physicians for venous signs and symptoms of the legs in industrialized countries.

The US is a leading industrialized country with a significant population suffering from venous disorders, particularly varicose veins. The National Institutes of Health states that approximately 60% of men and women suffer from some vein disorder at some point in their lives. According to the Society for Vascular Surgery (SVS), varicose veins can occur in any person, which has led to 35% of the people in the United States living with the condition. The SVS also reports that women with children and obese people in the US are at a higher risk. The prevalence of the disease is also found at larger percentages in other North American countries, including Canada and Mexico. For instance, according to the Canadian Society for Vascular Surgery, the condition is common and can be found in up to 20% of the adult population in Canada. Asia Pacific, on the other hand, also has a significant population suffering from the disease. According to a research survey published in Biomedical Research Journal, varicose veins are significantly prevalent in China. In Shanghai, Anhui, Shandong, and other nearby geographies, its incidence in individuals over 15 years old is 9.26%, and in those over 40 is 16.38%. Moreover, according to the Fudan University Shanghai, varicose veins significantly affect quality of life, with involvement as high as 10% to 40% of the population in China. With the increase in the aging population and the prevalence of obesity and other lifestyle problems, the prevalence of varicose veins will likely multiply in the coming years, thereby driving the growth of the varicose veins treatment devices market over the forecast years.

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Varicose Veins Treatment Devices Market: Strategic Insights

Market Size Value inUS$ 512.6 Million in 2017
Market Size Value byUS$ 1032.4 Million by 2025
Growth rateCAGR of 9.6% from 2018-2025
Forecast Period2018-2025
Base Year2018
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Report Segmentation and Scope:

The “Global Varicose Veins Treatment Devices Market” is segmented based on product, treatment, end user, and geography. Based on product, the varicose veins treatment devices market is bifurcated into ablation and surgical instruments markets. Based on treatment, the varicose veins treatment devices market is divided into injection sclerotherapy, endovenous ablation, and surgical ligation market. By end user, the market was segmented into hospitals, specialized clinics, and ambulatory surgical centers.

The varicose veins treatment devices market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Segmental Analysis:

The product segment of the varicose veins treatment devices market is segmented into ablation devices and surgical instruments market. Ablation devices were the largest product segment in the varicose veins treatment devices market in 2017 and are also anticipated to hold the largest market in 2025. The ablation devices segment is also the fastest-growing segment and is accounted to grow at the CAGR over the forecast years. Ablation refers to removing a part of biological tissue, usually through minimally invasive surgery. The procedure can be carried out with the help of chemicals, freezing, lasers, heat, or electricity. Ablation is one of the most recommended and trending techniques used to treat varicose veins after the failure of primary care and first-line treatment. Thus, the rising demand for ablation devices drives the growth of the varicose veins treatment devices market size.

Varicose Veins Treatment Devices Market, by Procedure – 2017 and 2025

Varicose Veins Treatment Devices Market, by Procedure – 2017 and 2025
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Based on the treatment, the global varicose veins treatment devices market was segmented into injection sclerotherapy, endovenous ablation, and surgical ligation. In 2017, the endovenous ablation segment, by treatment, held the largest market share. However, based on the growth rate, the sclerotherapy segment is expected to witness the fastest growth rate among the treatment segment in the global varicose veins treatment devices market as the ultrasound-based foam sclerotherapy is a relatively new technique that is minimally invasive and offers several advantages minimizing patient discomfort.

In terms of end users, the varicose veins treatment devices market is segmented into hospitals, specialized clinics, and ambulatory surgical centers. In 2017, the hospitals held the largest market share by end user. The hospital's segment is also expected to witness the fastest growth in the global varicose veins treatment devices market. The increasing number of hospitals offering innovative treatment options and advanced patient care as a part of varicose veins treatment will be responsible for hospitals to hold the largest share in the global varicose veins treatment devices market in 2017 and maintain its dominance by 2025.

Regional Analysis:

Based on geography, the varicose veins treatment devices market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In terms of revenue, North America dominated the varicose veins treatment devices market share. The North America varicose veins treatment devices market has been segmented into US, Canada, and Mexico. The US holds the largest share of the North American varicose veins treatment devices market. The increasing number of varicose veins procedures in the US will likely drive the US hair transplant procedure market. US exhibits a leading position in the global varicose veins treatment devices market scenario owing to the advanced treatment options available in the country that helps to treat the condition. Several universities and private and public research organizations are undertaking studies to reform and make significant advancements in treating varicose veins. The treatment options focus on offering care quickly with efficient results. For instance, the Maryland Vein Professionals with the new VNUS Fastcath treat patients suffering from varicose veins in less than 2 minutes. The growth in the US is also supported by the launch of new and innovative products launched in the market by various market players for the treatment of varicose veins. Thus, the growing number of innovative treatment procedures will likely contribute to the growth of the U.S. varicose veins treatment devices market size.

Further, The Europe varicose veins treatment devices market includes the consolidated markets for France, Germany, the United Kingdom (UK), Spain, Italy, and the Rest of Europe. The European varicose vein treatment devices market is expected to grow robust over the forecast period. Factors such as increasing government funding, new product launch, and rising awareness about early diagnosis and treatment of varicose veins drive the market's growth. Also, the increasing prevalence of venous diseases, especially among females, and the growth of medical tourism in France and other European countries is accelerating market growth. Additionally, government organizations' venous disease prevention and control strategies, including education programs and awareness campaigns, will likely grow disease awareness. Moreover, training for healthcare professionals in minimally invasive procedures further signifies the importance of preventive care and immediate treatment of varicose veins in European nations.

Asia Pacific includes India, China, Japan, Australia, South Korea, and the Rest of Asia Pacific. This region accounted for a significant market share of the global varicose veins treatment devices market owing to the large population of countries such as China and India, increasing focus of market players investing and introducing new technologies in the developing countries. Thus, there is a huge potential for growth of the varicose veins treatment devices market during the forecast period for the above reasons. The Asia Pacific region is estimated to witness the fastest growth during the forecast period. The factors such as the rising geriatric population creating a huge patient pool, increased healthcare spending, and availability of advanced technology help to boost the growth of the region's varicose veins treatment devices market.

The Middle East & Africa region includes countries such as Saudi Arabia, the U.A.E., South Africa, Rest of the Middle East and Africa. Of the countries included in the Middle East & Africa region, UAE held the largest market share in 2017, followed by Saudi Arabia and South Africa. UAE is also estimated to be the fastest-growing country in the region. The varicose veins treatment devices market is expected to grow substantially over the coming years in the MEA region owing to improved health infrastructure quality, increased demand for surgical devices, and available healthcare facilities across the region. However, a lack of awareness regarding the availability of options for treating varicose veins and misconceptions regarding the disease is expected to slow down the region's market growth.

Growing innovations, technological advancements, and rising medical tourism in the region are expected to drive the varicose veins treatment devices market in the coming years. The improvement in healthcare infrastructure is likely to directly impact Brazil's economy, which has advanced to a large extent. The cost savings advantage and higher work efficiencies achieved are the major attracting points for manufacturing companies to establish bases in South America. Brazil is one of the largest marketplaces in the world for cosmetic surgeries, with world-class hospitals and medical facilities. Thus, supporting the market growth in the country.

Industry Developments and Future Opportunities: 

Various initiatives taken by key players operating in the global varicose veins treatment devices market are listed below:

  1. In April 2022, I-VASC Srl, an Italy-based medical device company, raised 1.8 million euros for its new technology  VELEX  device. The device will treat Chronic Venous Insufficiency (CVI) and varicose veins.
  2. In October 2020, THERACLION, an innovative company specializing in echotherapy treatment using HIFU (High-Intensity Focused Ultrasound), received CE Mark for its second generation of SONOVEIN, a HIFU treatment solution for varicose veins.
  3. In June 2022, Biolitec expanded its Elves Radial family with a new laser fiber, the Elves Radial 2ring swift fiber, to provide a complete laser fiber range for treating varicose veins. 

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global varicose veins treatment devices market include Alma Lasers, AngioDynamics, VVT Med, F care systems, Asclepion Laser Technologies GmbH, Syneron Medical Ltd., Energist Ltd., Medtronic, biolitec AG and Miravas among others. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. Their widespread global presence allows them to serve many customers and subsequently increase their market share.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product , Treatment , End User and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Alma Lasers
  2. AngioDynamics
  3. VVT Med
  4. F care systems
  5. Asclepion Laser Technologies GmbH
  6. Syneron Medical Ltd.
  7. Energist Ltd.
  8. Medtronic
  9. biolitec AG
  10. Miravas

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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