Pune India, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the varicose vein treatment market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the varicose vein treatment market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global varicose vein treatment market are AngioDynamics, Teleflex Incorporated, Alma Lasers, Biolitec AG, Medtronic, Sciton, Inc., Dornier Medtech, Merit Medical Systems, Boston Scientific Corporation among others. To achieve a substantial market share in the worldwide biomarkers market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A varicose vein is an enlarged vein that appears mostly on the legs and feet and indicates a higher risk of circulatory problems. Varicose veins are typically caused by a variety of factors, including genetics, hormonal changes, pregnancy, hypertension, obesity and sleep disorders. Treatment for varicose veins may involve self-care measures, compression stockings, and surgery or procedures. There are many reasons why varicose veins can be aesthetically unpleasant, but they should only be considered problematic if they cause significant discomfort, pain, and swelling. I left untreated then, they can rupture, which results in ulcers. The majority of varicose vein treatment procedures are outpatient procedures, so one can usually go home within a few days. People are becoming more aware of the warning signals for varicose veins and the importance of taking action sooner rather than later due to the increased prevalence of saphenous veins, reticular veins, and varicose veins in the genital area, boosting market growth. Despite these factors, a number of factors will hinder the market growth of the varicose vein treatment market in the forecast period, including risk factors associated with the treatment devices and high procedural costs and inconsistent reimbursement structures. In addition, alternative methods for the treatment of varicose veins and side effects associated with varicose treatment are hampering the market growth.
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Scope of Varicose Vein Treatment Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | AngioDynamics, Teleflex Incorporated, Alma Lasers, Biolitec AG, Medtronic, Sciton, Inc., Dornier Medtech, Merit Medical Systems, Boston Scientific Corporation, among others |
Segmentation Analysis
Sclerotherapy is expected to be the fastest-growing segment in 2022.
The type segment is endovenous ablation and surgical ligation & stripping, and sclerotherapy. The sclerotherapy segment is expected to witness the highest growth rate during the forecast period. Due to the many benefits of this treatment, such as reduced bruising and scarring, no anaesthesia required, shorter hospital stays, straightforward aftercare procedures, and favourable reimbursement policies, this treatment holds a dominant share of the market.
Ambulatory care units are expected to be the fastest-growing segment in 2022.
The end-user segment includes vein clinics, ambulatory care units, and hospitals. The ambulatory care units segment is expected to witness the highest growth rate during the forecast period. Ambulatory surgical centres are widely using varicose vein surgery and treatment, resulting in a growth in the market. These centres are improving the quality of care and customer service while cutting costs, which is creating growth of opportunities for the varicose vein treatment market.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the biomarkers market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. A rapid increase in vein disorders like varicose veins in the U.S. has been occurring over the last few decades. For instance, according to the Chicago Vein Institute, more than 40 million people in the U.S. suffer from varicose veins. During the forecast period, this will continue to fuel demand for varicose vein treatments. In addition, the rising geriatric population is also playing a key role in the growth of the market.
Country Analysis
- Germany
Germany's varicose vein treatment market size was valued at USD 0.1 billion in 2022 and is expected to reach USD 0.5 billion by 2030, at a CAGR of 5.6% from 2023 to 2030.
As Germany's healthcare infrastructure expands and healthcare spending increases, varicose vein therapy is becoming increasingly popular. According to the Federal Statistical Office, Germany made around EUR 67.9 billion in healthcare expenditures in 2020, up 31.5% from the previous year.
- China
China’s varicose vein treatment market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.30 billion by 2030, at a CAGR of 6.2% from 2023 to 2030.
The rising demand for varicose vein treatment in the country is mainly driven by the geriatric population. As blood flow is controlled by vein valves, which deteriorate with age. Due to wear, the valves eventually weaken, allowing the blood to flow backwards.
- India
India's varicose vein treatment market size was valued at USD 0.13 billion in 2022 and is expected to reach USD 0.34 billion by 2030, at a CAGR of 6% from 2023 to 2030.
In India, the varicose vein market is growing as patients' knowledge about varicose veins and treatments increases. According to an International Surgery Journal survey, 5% of people suffer from vascular disease.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increase due to the rising geriatric population, propelling the growth of the market across the countries.
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