Wilmington, Delaware, United States, June 14, 2022 (GLOBE NEWSWIRE) -- Advancements in compression therapy devices and focus of industry stakeholders to expand array of minimally or non-invasive surgeries for the management of varicose veins are enriching growth prospects for varicose vein treatment market. Of note, rising adoption of endovenous laser ablation particularly in chronic venous disease has steered revenue growth of the varicose vein treatment market. A TMR study on the varicose vein treatment market. finds that the valuation is projected to advance at CAGR of 4.4% during 2022–2031.
The global market for varicose vein treatment is making strides on the back of increasing trend of preference for compression devices. Varicose vein treatment manufacturers are geared toward growing their R&D for innovative products for greater saphenous veins. The prevalence of these diseases presents an incredible revenue opportunity, notes the study on the varicose vein treatment market.
Presence of several risk factors notably in women has led to vast profitable growth opportunities in varicose vein treatment. Device manufacturers in the varicose vein treatment market are keen on unveiling novel ablation technologies. The growing demand for varicose vein treatment patients with lower extremity venous disease is propelling revenue streams. Of note, the TMR study has found that hospitals & ambulatory surgical centers are witnessing vast lucrative possibilities.
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Key Findings of Varicose Vein Treatment Market Study
- Massive Demand for Varicose Vein Treatment for Greater Saphenous Veins Underpins Abundant Revenue Streams: Treatments for greater saphenous vein presents a vast avenue, notes the authors of TMR. The demand is high on the back of the burden of lower extremity varicose veins. Industry players in the varicose vein treatment market are benefitting from recent and ongoing high-quality clinical trials on exploring new ways of endovenous management in lower extremity varicose veins.
- Rising Application of Thermal Ablation Techniques to Expand Lucrative Avenues: A bevy of thermal ablation techniques are being accepted for managing the varicose veins disease including that of the great saphenous vein, thereby expanding the horizon for companies in the varicose vein treatment market. Laser ablation devices manufacturers are leaning on reaping steady revenue gains from the adoption of these in varicose veins treatment.
- Growing Demand in Hospitals & Ambulatory Surgical Centers Bolstering Varicose Vein Treatment Market Growth: The study on the varicose vein treatment market has found that the demand for treatment modalities is rising in hospitals & ambulatory surgical centers. Of note, hospitals have notably expanded the services to meet the rising patients’ need. Furthermore, the segment is expected to hold a promising revenue share of the global varicose vein treatment market during the forecast period.
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Varicose Vein Treatment Market: Key Drivers
- Varicose veins diseases pose a global burden, more in women than in men. This has been driving the need for minimally invasive treatments notably compression stockings, thus enriching the varicose vein treatment market landscape. The prevalence of lower limb varicose veins is high.
- Growing awareness about significant impact that varicose veins diseases exert on the quality of life (QoL) of patients is a key driver for new growth avenues in the varicose vein treatment market. Of note, chronic venous disease exerts a debilitating effect on the QoL for the affected, especially in developing economies.
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Varicose Vein Treatment Market: Regional Growth Dynamics
- North America held a leading share of the varicose vein treatment market in 2021, and is projected to retain its lead during the forecast period. Presence of a large patient pool and continuous R&D on minimally invasive techniques especially in the U.S. are spurring the revenue generation.
- Asia Pacific is a potentially lucrative region in the varicose vein treatment market. Rise in elderly population in several economies of the region and growing demand for varicose veins in obese population have bolstered revenue streams in the Asia Pacific varicose vein treatment market.
Varicose Vein Treatment Market: Key Players
Some of the key players in the varicose vein treatment market are BSN medical, Teleflex Incorporated, Mylan N.V., DJO Global, Inc., WON TECH Co., Ltd., F Care System, VVT Med, and Medtronic.
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Varicose Vein Treatment Market Segmentation
- Product Type
- Ablation Devices
- Radio Frequency Ablation/Thermal Ablation
- Laser Ablation Devices
- Ultrasound Ablation Devices
- Catheters / Kits for Sclerotherapy & Adhesion Injection
- Compression Devices/Garments
- Others
- Ablation Devices
- Treatment Type
- Endovenous Ablation
- Sclerotherapy / Adhesion Injection
- Ligation / Stripping
- Supportive Treatments
- Disease Type
- Greater Saphenous Varicose Veins
- Small Saphenous Varicose Veins
- Others
- End-user
- Hospitals & Ambulatory Surgical Centers
- Specialty Clinics
- Others
Regions
- North America
- Latin America
- Europe
- Latin America
- Middle East & Africa
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