North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, increasing number of manufacturers as well as the large number of surgeries such as, new product launches by market players and high population suffering with venous diseases in the region.
Global varicose veins treatment devices market, based on the product was segmented into ablation devices and surgical instruments. In 2017, The ablation devices is the largest segment among the product segment in the varicose veins treatment devices market in 2017 and is also anticipated to hold the largest market in the year 2025. The ablation devices segment is also fastest growing segment and is accounted to grow at the CAGR of 10.1% over the forecast years owing to the ability of the ablation technique to remove stubborn veins and being one of the safest and easy to perform option for the treatment of varicose veins. Moreover, the technique also helps to reduce the surgical time, results in lesser pain, reduced hospital stay and lesser chances of post-surgical complications.
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The major players operating in the 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.
The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature. For instance, in November 2015, Medtronic introduced the VenaSeal closure system in the US that incorporates a novel technology for patient relief with varicose veins. Moreover, in January 2017, BTG International Canada Inc. conducted the Canadian commercial launch of Varithena, a drug-device combination product that was intended for the treatment of varicose veins. The drug-device was intended for use in adults with clinically significant venous reflux as diagnosed by duplex ultrasound.
Driving factors such as increasing incidence of chronic venous diseases (CVDs), increase in the adoption of endovenous laser ablation and technological developments in varicose veins treatments are expected to promote the growth of the global market. In addition, spreading appropriate awareness regarding the importance and treatment available for varicose veins is likely to have a positive impact on the growth of the varicose veins treatment devices market in the coming years. However, lack of skilled professionals and disadvantages of the ablation techniques are likely to negatively affect the market growth creating challenges for market players in the future years to some extent.
The disease is highly prevalent among the adult population worldwide generating sustainable burden of the global healthcare spending. The increasing incidence of the venous diseases such as varicose veins can thus increase the growth of global varicose veins treatment market. According to the American Society for Vascular Surgery (ASVS) 2015, at least 20 to 25 million Americans have varicose veins. Statistics further show that 17% of men and 33% of women have varicose veins. In fact, more people are unable to work due to vein disorders than due to arterial disease. According to a survey report published by Sigvaris, in industrialized countries, over 30% of women and about 10% of men consult physicians for venous signs and symptoms of the legs.
The report segments the global varicose veins treatment devices market as follows:
Global Varicose Veins Treatment Devices Market – By Product
Ablation Devices
Laser Ablation Devices
Radiofrequency Ablation Devices
Surgical Instruments
Global Varicose Veins Treatment Devices Market – By Treatment
Endovenous Ablation
Injection Sclerotherapy
Surgical Ligation
Global Varicose Veins Treatment Devices Market – By End User
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
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