Pune, India, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Varicose veins are large, swollen veins that usually appear on the legs and feet. This condition occurs when the valves in the vein do not function properly, hence affecting the normal flow of blood. In severe cases, the veins may rupture or transform into ulcers on the skin. Some of the treatments for varicose veins include surgery, sclerotherapy, ligation and stripping, and radiofrequency ablation among others. In recent years, various treatments have been developed for varicose veins that are minimally invasive and cause less complications post-surgery.
According to our latest study on “Varicose Veins Treatment Devices Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Product, Treatment, and End User," The global market size is expected to reach $1.03 billion by 2025 from $0.512 billion in 2017. The market is estimated to grow with a CAGR of 9.6% during the period. The report highlights the trends and drivers prevailing in the market. Major factors driving market growth include 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 are anticipated to propel the growth of the market during the forecast period However, lack of skilled professionals and disadvantages of the ablation techniques will likely hamper the market growth.
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Global Varicose Veins Treatment Devices Market Analysis: Competitive Landscape and Key Developments
The varicose veins treatment devices market majorly consists of the players such as Alma Lasers, AngioDynamics, VVT Med, F care systems, Asclepion Laser Technologies GmbH, Syneron Medical Ltd., Energist Ltd., Medtronic, biolitec AG and Miravas among others. Various companies have made organic growth strategies in the varicose veins treatment devices market. Some of the activities undertaken by the company which has promoted its growth are product launches, expansion, and others.
In April 2022, I-VASC Srl, an Italy-based medical device company, raised 1.8 million euros for its new technology VELEX device. The device will treat Chronic Venous Insufficiency (CVI) and varicose veins.
In October 2020, THERACLION, an innovative company specializing in echotherapy treatment using HIFU (High-Intensity Focused Ultrasound), received CE Mark for its second generation of SONOVEIN, a HIFU treatment solution for varicose veins.
In June 2022, Biolitec expanded its Elves Radial family with a new laser fiber, the Elves Radial 2ring swift fiber, to provide a complete laser fiber range for treating varicose veins.
Global Varicose Veins Treatment Devices Market Opportunities
Growing Awareness Regarding Varicose Veins - The understanding of vascular disorders that include varicose veins, venous insufficiency and others is often poor among the general population. It lacks understanding regarding the underlying harms of venous diseases. A marginal percentage of the world population suffers from medical conditions but has little or no information. Additionally, there has been a number of misconception associated with the medical importance of the disease, which also needs re-evaluation and correction within the patient and general populace. According to the Society of Vascular Medicine, over 30 million Americans suffer from venous diseases; however, only 10% of these patients visit medical facilities to seek treatment. The lack of awareness about the disease is a major factor prohibiting the correct diagnosis and treatment of these conditions.
The appropriate generation of awareness within the community regarding these medical conditions can lead to a large population seeking consultation for venous problems, thereby increasing the number of hospital visits for varicose veins and supporting market growth. Several organizations and communities have initiated doing the job by organizing several campaigns and programs at a local and regional level to deliver the correct information and re-correct the perceptions about varicose veins being a cosmetic defect and not an issue of medical concern. For instance, the Circulation Foundation strives to promote and highlight awareness regarding vascular diseases in the general public. It has indulged itself in fundraising to promote research into the causes, treatment, and prevention of these diseases in the UK. Similar steps to combat the lack of awareness about the recognition, diagnosis, prevention, and treatment of varicose veins at all healthcare system levels may offer growth opportunities in terms of multiplying the patient pool and hospital consultation for varicose veins worldwide.
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The “Global Varicose Veins Treatment Devices Market” is segmented based on product, treatment, end-user, and geography. Based on the product, the varicose veins treatment devices market is bifurcated into the market of ablation devices and surgical instruments. In terms of treatment, the varicose veins treatment devices market is segmented into injection sclerotherapy, endovenous ablation, and surgical ligation market. The end-user varicose veins treatment devices market was segmented into hospitals, specialized clinics, and ambulatory surgical centers. The hospitals house various surgical procedures involving critical procedures such as endovenous ablation and ligation. Hospitals complement and amplify the effectiveness of many other parts of the health system, providing continuous availability of services for acute and complex conditions. Additionally, the increasing number of hospitals offering innovative treatment options and advanced patient care as a part of varicose veins treatment will be responsible for hospitals to hold the largest share in the global varicose veins treatment devices market in 2017 as well as maintain its dominance by 2025.
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