The global varicose vein treatment market is expected to reach USD 475 million by 2024, according to a new report by Grand View Research, Inc. The increasing technological advancements coupled with the increased availability of the advanced varicose vein treatment devices and shift towards less-invasive procedures are the contributing factors for the growth of the market.
The huge burden of vascular diseases in Europe and North America and the increasing patient compliance and reliability, growth in healthcare expenditure, and the rapid growth in geriatric population is majorly driving the varicose vein procedure market.
The upward trend in lifestyle disorders, such as increasing obesity, sleep disorders, blood pressure levels, hormonal changes, genetic disorders and pregnancy are the few major factors contributing to the peripheral vascular diseases. Untreated venous insufficiency, such as varicose vein and venous ulcers cause progressive syndromes including chronic veinous insufficiency. In 2015, according to FutSci, chronic veinous insufficiency is widespread and is a socially isolating condition caused in adults. It is the most common disease in the world and is estimated to affect 5% of the population in the Western countries.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/varicose-vein-treatment-devices-market
Further key findings from the report suggest:
·
In 2015, the sclerotherapy segment was
identified as the most profitable procedure owing to the benefits, such as the
requirement of minimal incision and reduced scarring, related to the procedure.
Moreover,the following advantages: increased penetration, cost and time
efficiency, reduced risk of collateral damage to surrounding tissues, fewer
post-operative complications, and painless procedure are the main contributors
for the growth of this segment.
·
The endovenous ablation segment is expected to
be the fastest growing segment due to the benefits of short treatment time and
improved blood circulation after the procedure. The ClosureFast technique in
the endovenous ablation treatment segmenthas gained momentum due to the
minimized side effects, potential cost-saving ability, and better patient
outcomes.
·
In 2015, the endovenous chemoablation or
chemical sclerosis segment was the most widely used medical procedure among the
ablation procedures. Sclerotherapy, intense-pulsed-light therapy, laser
ablation, radiofrequency, and ambulatory phlebectomy are the modern techniques
that are usedmore oftendue to their less invasive nature.
·
In 2016, North America held the largest market
share due to the increasing incidence rate of varicose and spider vein in the
population, favourable reimbursement policies, increased healthcare awareness,
government spending, and the rising aesthetic awareness in the region
·
As of 2016, Europe is characterized by a shift
towards less-invasive procedures in treating large varicose veins. It is
expected to witness a high growth rate over the forecast period due to the
favorable government initiatives and advanced treatment procedures.
·
The Asia Pacific is expected to register the
fastest growth due to factors, such as the improving healthcare infrastructure,
the increase in patient awareness level regarding the benefits of early
treatment of the varicose veins, and the rising disposable income
·
Some key players of the market include Quanta
Systems S.p.A, Vascular Solutions, Inc., Eufoton S.R.L, Energist Group,
Medtronic plc, Dornier MedTech GmbH, Lumenis Ltd., Syneron Medical Ltd.,
Biolitec AG, and AngioDynamics, Inc.
·
AngioDynamics, Inc. and MerzPharma GmbH &
Co. KGaAin North America established a multi-year relationship to market
Asclera for patients with peripheral vascular diseases.In the U.S,.MerzPharma
GmbH & Co. KGaAserves as the exclusive distributor of the Asclera
Injection. Asclera is approved for the treatment of spider and reticular veins,
which showed good improvement in 95% of the patients treated with asclera.
·
In 2016, Medtronic plc acquired Italian
hemodialysis player Bellco, Inc.This acquisition is projected to enable the
medical device giant to gain market position in newly formed renal care solution
business.
·
In 2015, Medtronic plc acquired Covidien plc
with the objective to move into the additional therapeutic areas, such as
chronic venous insufficiency. Covidien plc markets the Venefit procedure that
uses radiofrequency energy and minimally invasive radiofrequency ablation to
treat the disease.
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Grand View Research has segmented the global varicose vein treatment market on the basis of procedures, devices,and regions:
Varicose Vein Treatment Outlook ByType (Revenue, USD Million, 2013 - 2024)
·
Sclerotherapy
·
Endovenous Ablation
o
Laser Ablation
o
Radiofrequency Ablation
·
Stripping
Varicose Vein Treatment Regional Outlook (Revenue, USD Million, 2013
- 2024)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
France
·
Rest of Europe
·
Asia Pacific
·
India
·
Japan
·
China
·
Rest of Asia Pacific
·
Latin America
·
Brazil
·
Mexico
·
Rest of Latin America
·
MEA
·
South Africa
·
Rest of MEA
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
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