Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 19, 2024 (GLOBE NEWSWIRE) -- The varicose veins treatment market size (정맥류 치료 시장) is expected to reach US$ 2.4 Bn by the end of 2031 during the forecast period, as per Transparency Market Research (TMR), a leading global market research company.
Varicose veins, also referred to as varicoses or varicosities, is a condition in which the patient's blood veins expand more than their capacity, dilate, or get overfilled with blood and is usually common among women. The veins often appear to be bulging, blue, or purple; and can cause discomfort, pain, or cosmetic concerns.
According to studies, approximately 40 million people in the U.S. suffer from varicose veins every year.
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Varicose Veins Treatment Market Insights
The condition of varicose veins arises when the blood vessels fail to function correctly. Veins contain one-way valves that prevent backward blood flow. When these valves malfunction, blood accumulates in the veins rather than being directed toward the heart. This leads to vein expansion, particularly affecting the lower legs, where gravity hinders upward blood flow.
Various treatment options, including minimally invasive techniques such as endogenous laser ablation, sclerotherapy, and radiofrequency ablation, are available for varicose veins across the globe.
These treatment options are primarily preferred due to their benefits such as reduced pain, shorter recovery times, and minimal scarring vis-à-vis traditional surgical approaches.
Rise in preference for minimally invasive treatments is a key factor that is augmenting the varicose veins treatment market growth.
Varicose Veins Treatment Market - Key Takeaways
- High Prevalence of Varicose Veins Among Aging Population
- Growth in Awareness About Varicose Veins
Rapid growth in geriatric population across the globe is a significant factor that is fostering market progress. As more people age, the prevalence of varicose veins increases. Hormonal changes, obesity, and genetic predisposition also contribute to this condition.
Availability of advanced treatment devices and a shift toward less-invasive procedures are further fueling market expansion.
- In 2020, the number of people aged 60 years and older outnumbered children younger than five years. Furthermore, proportion of the global population over 60 years of age is likely to nearly double from 12% to 22% between 2015 and 2050.
Public awareness and understanding about varicose veins have been rising across the globe. Earlier, varicose veins were considered a cosmetic condition; therefore, public awareness about the condition was low.
However, varicose veins can cause aching pain and discomfort, especially when they continue to grow and develop. The condition can also result in more serious health issues. This has prompted people to acknowledge the condition and seek effective solutions.
Varicose Veins Treatment Market Regional Insights
- North America dominated the market share in 2021
- Asia Pacific estimated to record rapid growth during the forecast period
North America generated the largest market value in 2022. The region is expected to maintain its dominance during the forecast period.
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Increase in prevalence of risk-associated conditions such as obesity and cardiovascular diseases, availability of well-developed healthcare systems and advanced medical technology, and rise in awareness about varicose veins and their treatment options among both healthcare providers and patients are driving the varicose veins treatment market share of North America.
- In September 2021, NCBI or National Centre for Biotechnology Information study stated that over 3.7 million people in Canada were living with varicose veins.
- Asia Pacific is projected to record steady market development during the forecast period. Rise in prevalence of varicose veins, increase in development of healthcare infrastructure, and growth in elderly population are anticipated to bolster the varicose veins treatment market demand in the region.
Leading Players in Global Varicose Veins Treatment Industry
Key market players are continuously investing in R&D activities to introduce innovative products to sustain themselves. They are also investing in the latest advancements in treatment options to help eliminate the condition or reduce the appearance of varicose veins.
AngioDynamics, Inc., Boston Scientific Corporation (BTG International Inc.), DJO, LLC (Enovis Corporation), Essity Aktiebolag (publ) (BSN Medical), F Care Systems NV, Medtronic plc, Miravas (IPSA Group), Mylan N.V. (Viatris, Inc.), SIGVARIS Group, Teleflex Incorporated, VVT Medical, and WONTECH Co., Ltd. are the prominent players operating in the global varicose veins treatment landscape.
Key Developments
- In July 2024, India Medtronic Private Limited, a subsidiary of Medtronic plc, and SWIZTON Medcare entered into a partnership agreement to open vein clinics in India. Through the partnership, the companies aim to provide advanced and specialized treatment options for varicose veins across the country.
- In April 2024, VVT Medial, a developer, manufacturer, and distributor of minimally invasive, non-thermal, and non-tumescent solutions for the treatment of varicose veins, announced the completion of GMP certification and registration of novel non-thermal, anesthesia-free treatment for varicose veins
Such advancements are anticipated to provide impressive results in effectively treating varicose veins.
Varicose Veins Treatment Market Segmentation
Product
- Ablation Devices
- Radiofrequency Ablation/Thermal Ablation
- Laser Ablation Devices
- Ultrasound Ablation Devices
- Catheters/Kits for Sclerotherapy & Adhesion Injection
- Compression Devices/Garments
- Others
Treatment Type
- Endovenous Ablation
- Sclerotherapy/Adhesion Injection
- Ligation/Stripping
- Supportive Treatment
Disease Type
- Greater Saphenous Varicose Veins
- Small Saphenous Varicose Veins
- Others
End-user
- Hospitals & Ambulatory Surgical Centers
- Specialty Clinics
- Others
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