Report Ocean has recently published the “Varicose Veins Market” Research Report 2023-2030, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2030.
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The global varicose vein treatment devices market is estimated to reach USD 1,388.86 Million by 2023, expanding at a compound annual growth rate (CAGR) of 16.4% during the 2018-2023 period.
The number of patients suffering from varicose veins is rising. However, technologically advanced treatment procedures are also emerging, which is expected to bolster the growth of the market during the forecast period.
Treatment mode segment insights:
The thermal ablation segment dominated the market, accounting for a 63.0% share of the global revenue in 2017. Rising adoption of minimally invasive procedures with reduced recovery periods is expected to fuel the demand for thermal ablation, including radiofrequency ablation and endovenous laser therapy, over the next few years. Furthermore, attractive reimbursement policies and recommendations by the United States (U.S.) American Venous Forum guidelines and the U.K. National Institute for Health and Care Excellence guidelines in favour of the thermal ablation process has resulted in spurring demand.
Endovenous non-thermal ablation is expected to be the fastest growing segment, increasing exponentially from 2018 to 2023 at a CAGR of 40.3%. Reduced risk of complications is projected to fuel the acceptance of this non-tumescent process over thermal ablation and other conventional treatment processes. The market share of the stripping treatment method is expected to decline considerably, owing to post-operative complications like infections at the incision sites, heavy bleeding, blood clots, bruising or scarring, and nerve injury.
End user segment insights:
The hospital segment garnered the largest share in 2017, followed by surgical clinics and specialized clinics. The availability of experienced medical professionals, coupled with favorable medical insurance policies has driven the demand for varicose veins treatment at hospitals. This segment held a 55.8% share of the global revenue in 2017.
The specialized clinics segment, which includes dedicated clinics for varicose veins treatment, is projected to witness a robust growth of 18.0% from 2018 till 2023. Patients, especially those from developed economies, are anticipated to propel the demand for treatment at specialized clinics during the forecast period. Adequate availability of cutting-edge, minimally invasive treatment procedures is predicted to drive the growth of this segment.
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Regional insights:
North America was the largest regional segment, accounting for a 45.3% share of the global revenue in 2017. A growing geriatric population, obesity, and sedentary lifestyle in countries such as the U.S. and Canada, have resulted in the increased prevalence of varicose veins. Advanced healthcare infrastructure, coupled with favorable reimbursement policies have driven demand in this region in the past couple of years.
Europe was the second-leading regional segment in 2017, followed by Asia-Pacific. The market share of the Asia-Pacific region is expected to expand at the highest CAGR of 20.3% during the 2018-2023 period, owing to increased awareness among patients, along with rising healthcare expenditure. Countries like China, India, Japan, and South Korea are likely to experience significant growth over the next few years, owing to the prospects of the growing medical tourism industry, and a large patient pool.
Companies covered:
1. AngioDynamics, Inc.
2. Syneron Medical Ltd.
3. Vascular Insights, LLC
4. Biolas Health, Inc.
5. Energist Ltd.
6. Medtronic plc
7. BTG plc
8. Alma Lasers, Inc.
9. Lumenis Ltd.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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The report addresses the following key questions regarding the Varicose Veins market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of Varicose Veins in the market?
- How are regulatory policies and government initiatives impacting the growth of the Varicose Veins market?
- What is the market share of the top 5 players in the Varicose Veins market and how is it likely to change in the future?
- What are the latest technologies and innovations in the Varicose Veins market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the Varicose Veins market?
- What are the challenges related to the supply chain and logistics that Varicose Veins market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the Varicose Veins market?
- What are the potential risks and uncertainties associated with investing in the Varicose Veins market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Varicose Veins market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Varicose Veins market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Varicose Veins market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Varicose Veins business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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