Varicose Veins Treatment Devices Market Growth & Trends
The global varicose veins treatment devices market size is expected to reach USD 2.1 billion by 2030, according to a new study. It is expected to expand at a CAGR of 6.21% from 2022 to 2030. The increasing technological advancements, the increased availability of advanced treatment devices, and a shift toward less-invasive procedures are the key factors contributing to the growth of the market.
The huge burden of vascular diseases in Europe and North America, the increasing patient compliance and reliability, and the rapidly growing geriatric population are majorly driving the market. According to the data of the Vein Care Team, approximately 35% of the adult white population of Europe and North America suffers from chronic venous disease manifested by the varicose syndrome.
Lifestyle disorders such as obesity, sleep disorders, blood pressure levels, hormonal changes, genetic disorders, and pregnancy are contributing to peripheral vascular diseases. Untreated venous insufficiency, such as varicose veins and venous ulcers, cause progressive syndromes including chronic venous insufficiency. According to the study published in 2018 by Saf Health Work, lower limb varicose veins were reported in 10-30% of the population globally. It is the most common disease in the world and is estimated to affect 5% of the population in Western countries.
Moreover, COVID-19 has had a negative impact on the market. Many varicose veins surgeries were postponed or canceled as they fall under the category of nonurgent procedures. According to the Canadian Institute for Health Information, the number of varicose veins surgeries from March to June 2020 witnessed a double-digit decline compared to 2019. This had a negative impact on the overall market. Manufacturers operating in the market witnessed a decline in their revenues. For instance, the peripheral intervention segment of Merit Medical Systems, Inc. witnessed a decline of 2.7% in its revenue in 2020. Similarly, Medtronic’s aortic, peripheral & venous segment revenue fell by 7% in 2020. This was mainly driven by the COVID-19 pandemic-related decline in procedure rates.
Varicose Veins Treatment Devices Market Report Highlights
- The sclerotherapy segment type accounted for the largest revenue share in 2021 owing to the benefits related to the procedure such as the requirement of minimal incision and reduced scarring. Moreover, other advantages including increased penetration, cost and time efficiency, reduced risk of collateral damage to surrounding tissues, fewer post-operative complications, and painless procedures contributed to the growth of this segment
- The endovenous ablation type segment is expected to witness the maximum growth during the forecast period due to the benefits of short treatment time and improved blood circulation after the procedure. The ClosureFast technique has gained momentum due to the minimized side effects, potential cost-saving ability, and better patient outcomes
- North America held the largest revenue share in 2021 due to the increasing incidence rate of varicose and spider veins in the population, favorable reimbursement policies, increased healthcare awareness, government spending, and the rising aesthetic awareness in the region
- The market in Europe is likely to grow owing to a shift towards minimally invasive procedures among patients. It is expected to witness high growth over the forecast period due to the favorable government initiatives and advanced treatment procedures
- Asia Pacific is anticipated to witness remarkable growth over the forecast period due to the improving healthcare infrastructure, the increase in patient awareness level regarding the benefits of early treatment of the varicose veins, and the rising disposable income
Table of Contents
Chapter 1 Report Scope and Objectives1.1 Market Segmentation
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Objectives
1.4.1 Objective - 1
1.4.2 Objective - 2
1.4.3 Objective - 3
Chapter 2 Methodology
2.1 Research Methodology
2.1.1 Information Procurement
2.1.2 Purchased Database
2.1.3 Internal database
2.1.4 Secondary Sources
2.1.5 Primary Research
2.2 Information or Data Analysis
2.2.1 Data Analysis Models
2.3 Market Formulation & Validation
2.4 Model Details
2.4.1 Commodity Flow Analysis
2.4.2 Volume Price Analysis
2.5 List of Secondary Sources
2.6 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.2.1 Type
3.3 Regional Outlook
3.4 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage Outlook
4.1.1 Parent Market Outlook
4.1.2 Related/Ancillary Market Outlook
4.2 Penetration & Growth Prospect Mapping
4.3 Impact of Covid-19 on Varicose Veins Treatment Devices Market
4.4 Market Dynamics
4.4.1 Market Driver Analysis
4.4.1.1 Growing Preference for Minimally Invasive Treatment Procedures
4.4.1.2 Introduction of Technologically Advanced Devices
4.4.1.3 Increasing Prevalence of Varicose Veins
4.4.2 Market Restraint Analysis
4.4.2.1 High Procedural Costs and Inconsistent Reimbursement Structure
4.4.2.2 Risk Factors Associated With Varicose Veins Treatment
4.4.2.3 Low Awareness About Varicose Veins Treatment
4.5 Varicose Veins Treatment Devices Market: Business Environment Analysis Tools
4.5.1 PESTLE Analysis
4.5.1.1 Political & Legal
4.5.1.2 Economic & Social
4.5.1.3 Technological
4.5.2 Porter’S Five Forces Analysis
4.5.2.1 Threat of New Entrants
4.5.2.2 Bargaining Power of Buyers
4.5.2.3 Competitive Rivalry
4.5.2.4 Threat of Substitutes
4.5.2.5 Bargaining Power of Suppliers
4.6 Patient Population
4.6.1 Female Vs. Male Population
4.6.2 Geriatric Vs. Adult Population
4.7 Spider Veins: Treatment Scenario
4.8 Reimbursement Scenario
Chapter 5 Varicose Veins Treatment Devices Market: Type Analysis
5.1 Varicose Veins Treatment Devices Market: Type Movement Analysis, 2021 & 2030
5.2 Varicose Veins Treatment Devices Type Market: Segment Dashboard
5.2.1 Endovenous Ablation (Evla)
5.2.1.1 Endovenous Ablation Market, 2017 - 2030 (Usd Million)
5.2.1.2 Radiofrequency Ablation
5.2.1.2.1 Radiofrequency Ablation Market, 2017 - 2030 (Usd Million)
5.2.1.3 Laser Ablation
5.2.1.3.1 Laser Ablation Market, 2017 - 2030 (Usd Million)
5.2.2 Sclerotherapy
5.2.2.1 Sclerotherapy Market, 2017 - 2030 (Usd Million)
5.2.3 Surgical Ligation & Stripping
5.2.3.1 Surgical Ligation & Stripping Market, 2017 - 2030 (Usd Million)
Chapter 6 Varicose Veins Treatment Devices Market: Regional Analysis
6.1 Regional Movement Analysis & Market Share, 2021 & 2030
6.2 North America
6.2.1 North America Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.2.2 U.S.
6.2.2.1 U.S. Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.2.3 Canada
6.2.3.1 Canada Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3 Europe
6.3.1 Europe Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3.2 U.K.
6.3.2.1 U.K. Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3.3 Germany
6.3.3.1 Germany Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3.4 France
6.3.4.1 France Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3.5 Italy
6.3.5.1 Italy Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.3.6 Spain
6.3.6.1 Spain Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.4 Asia-Pacific
6.4.1 Asia-Pacific Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.4.2 Japan
6.4.2.1 Japan Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.4.3 China
6.4.3.1 China Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.4.4 India
6.4.4.1 India Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.5 Latin America
6.5.1 Latin America Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.5.2 Mexico
6.5.2.1 Mexico Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.5.3 Brazil
6.5.3.1 Brazil Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.6 Middle East & Africa
6.6.1 Middle East & Africa Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
6.6.2 South Africa
6.6.2.1 South Africa Varicose Veins Treatment Devices Market, 2017 - 2030 (Usd Million)
Chapter 7 Varicose Veins Treatment Devices Market Competitive Landscape
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.2 Competition Categorization
7.3 Company Market Position Analysis
7.4 Company Profiles
7.4.1 Medtronic
7.4.1.1 Company Overview
7.4.1.2 Financial Performance
7.4.1.3 Product Benchmarking
7.4.1.4 Strategic Initiatives
7.4.1.5 SWOT Analysis
7.4.2 Angiodynamics
7.4.2.1 Company Overview
7.4.2.2 Financial Performance
7.4.2.3 Product Benchmarking
7.4.2.4 SWOT Analysis
7.4.3 Biolitec AG
7.4.3.1 Company Overview
7.4.3.2 Financial Performance
7.4.3.3 Product Benchmarking
7.4.3.4 Strategic Initiatives
7.4.4 Sciton, Inc.
7.4.4.1 Company Overview
7.4.4.2 Financial Performance
7.4.4.3 Product Benchmarking
7.4.5 Dornier Medtech
7.4.5.1 Company Overview
7.4.5.2 Financial Performance
7.4.5.3 Product Benchmarking
7.4.6 Merit Medical Systems
7.4.6.1 Company Overview
7.4.6.2 Financial Performance
7.4.6.3 Product Benchmarking
7.4.6.4 Strategic Initiatives
7.4.6.5 SWOT Analysis
7.4.7 Alma Lasers
7.4.7.1 Company Overview
7.4.7.2 Financial Performance
7.4.7.3 Product Benchmarking
7.4.8 Teleflex Incorporated
7.4.8.1 Company Overview
7.4.8.2 Financial Performance
7.4.8.3 Product Benchmarking
7.4.8.3 SWOT Analysis
7.4.9 Boston Scientific Corporation
7.4.9.1 Company Overview
7.4.9.2 Financial Performance
7.4.9.3 Product Benchmarking
7.4.9.4 Strategic Initiatives
7.4.9.5 SWOT Analysis List of Tables
Table 1 Varicose Veins treatment scenario in the U.S.: Female vs. male population (2021)
Table 2 Reimbursement codes for endovenous ablation
Table 3 Reimbursement codes for sclerotherapy
Table 4 Reimbursement codes for stripping and ligation
Table 5 North America Varicose Veins treatment devices market, by country, 2017 - 2030 (USD Million)
Table 6 North America Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 7 North America Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 8 U.S. Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 9 U.S. Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 10 Canada Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 11 Canada Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 12 Europe Varicose Veins treatment devices market, by region, 2017 - 2030 (USD Million)
Table 13 Europe Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 14 Europe Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 15 U.K. Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 16 U.K. Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 17 France Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 18 France Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 19 Germany Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 20 Germany Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 21 Italy Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 22 Italy Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 23 Spain Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 24 Spain Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 25 Asia Pacific Varicose Veins treatment devices market, by region, 2017 - 2030 (USD Million)
Table 26 Asia Pacific Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 27 Asia Pacific Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 28 India Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 29 India Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 30 China Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 31 China Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 32 Japan Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 33 Japan Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 34 Latin America Varicose Veins treatment devices market, by region, 2017 - 2030 (USD Million)
Table 35 Latin America Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 36 Latin America Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 37 Brazil Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 38 Brazil Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 39 Mexico Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 40 Mexico Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 41 MEA Varicose Veins treatment devices market, by region, 2017 - 2030 (USD Million)
Table 42 MEA Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 43 MEA Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
Table 44 South Africa Varicose Veins treatment devices market, by type, 2017 - 2030 (USD Million)
Table 45 South Africa Varicose Veins treatment devices market, by endovenous ablation, 2017 - 2030 (USD Million)
List of Charts
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market summary, 2021
Fig. 8 Market trends & outlook
Fig. 9 Market segmentation & scope
Fig. 10 Market driver relevance analysis (Current & future impact)
Fig. 11 Strong preference for non-invasive procedures (In Million)
Fig. 12 Percentage distribution of the population aged 65 and over by region: 2015 and 2050
Fig. 13 Market restraint relevance analysis (Current & future impact)
Fig. 14 Penetration & growth prospect mapping
Fig. 15 Varicose Veins treatment: Female vs. male population
Fig. 16 Varicose Veins treatment scenario: Age group
Fig. 17 Varicose Veins treatment devices market type outlook key takeaways
Fig. 18 Varicose Veins treatment devices market: Type movement analysis
Fig. 19 Global endovenous ablation market, 2017 - 2030 (USD Million)
Fig. 20 Global radiofrequency ablation market, 2017 - 2030 (USD Million)
Fig. 21 Percentage of patients with complications
Fig. 22 Global laser ablation market, 2017 - 2030 (USD Million)
Fig. 23 Global sclerotherapy market, 2017 - 2030 (USD Million)
Fig. 24 Global surgical ligation & stripping market, 2017 - 2030 (USD Million)
Fig. 25 Regional market place: Key takeaways
Fig. 26 Regional outlook, 2021 & 2030
Fig. 27 North America Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 28 U.S. Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 29 Canada Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 30 Europe Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 31 U.K. Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 32 France Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 33 Germany Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 34 Italy Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 35 Spain Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 36 Asia Pacific Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 37 India Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 38 China Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 39 Japan Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 40 Latin America Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 41 Brazil Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 42 Mexico Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 43 MEA Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 44 South Africa Varicose Veins treatment devices market, 2017 - 2030 (USD Million)
Fig. 45 Recent developments & impact analysis, by key market participants
Fig. 46 Strategy framework/ competition categorization
Fig. 47 Company market position analysis
Companies Mentioned
- Medtronic
- AngioDynamics
- Biolitec AG
- SCITON, INC.
- Dornier Medtech
- Merit Medical Systems
- Alma Lasers
- Teleflex Incorporated
- Boston Scientific Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 127 |
| Published | May 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value in 2021 | 1.2 Billion |
| Forecasted Market Value by 2030 | 2.1 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
