Report Ocean introduces a fresh report examining the ‘Global Varicose Veins Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
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.
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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.
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)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- 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)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
Some Questions Answered in the Varicose Veins Market Report:
- What is the projected size of the global Varicose Veins market in 2032, and what growth rate is expected?
- What are the primary drivers of growth in the global Varicose Veins industry?
- What are the major market trends that are affecting the expansion of the Varicose Veins market?
- What obstacles must be overcome in order to achieve sustained growth in the Varicose Veins market?
- What opportunities and threats do vendors in the global Varicose Veins market face?
- What are the raw materials and manufacturing equipment used in the production of Varicose Veins, and what is the manufacturing process?
- What are the different types and applications of Varicose Veins, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Varicose Veins market?
- What factors are driving the growth of the Varicose Veins market in the top regions worldwide?
- Who are the major players in the global Varicose Veins market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Varicose Veins market?
- What are the main findings of a five forces analysis of the global Varicose Veins market?
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