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Global Varicose Vein Treatment Devices Market Expected to 6% CAGR Trends and Growth Opportunities

Reports And Data

Reports And Data

Rising demand for minimally invasive procedures to treat varicose veins and increasing investments

NEW YORK , NY, UNITED STATES, May 31, 2023/EINPresswire.com/ -- The global varicose vein treatment devices market size was USD 1.3 billion in 2022 and is expected to register a rapid revenue CAGR of 6 % during the forecast period

The market size of the global varicose vein treatment devices reached USD 1.3 billion in 2022 and is projected to exhibit a rapid revenue CAGR of 6% during the forecast period. The growth of the market is primarily fueled by the increasing demand for minimally invasive procedures to treat varicose veins. Additionally, market players are making significant investments in research and development to introduce innovative and effective products, further driving the revenue growth in the market. Moreover, there is a growing awareness among individuals about the importance of receiving timely treatment for varicose veins, which is also contributing to the market's expansion.

Varicose veins are characterized by twisted, bulging, and swollen veins, commonly found in the legs. They can cause pain, discomfort, and affect the aesthetic appearance of individuals. According to the National Institutes of Health (NIH), nearly 23% of the American population is affected by varicose veins, highlighting the need for advanced and cutting-edge treatment options to address this condition effectively.

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Segments Covered in the Report

The varicose vein treatment devices market is segmented based on product type outlook, end-use outlook, regional outlook, and country scope.

In terms of product type outlook, the market covers laser-based devices, RF ablation devices, surgical devices, and others. Laser-based devices utilize laser energy to treat varicose veins, offering precise and targeted treatment. RF ablation devices use radiofrequency energy to heat and close the affected veins. Surgical devices include traditional surgical procedures for varicose vein treatment. Other product types may include innovative and emerging technologies in the field of varicose vein treatment.

Based on end-use outlook, the market is segmented into hospitals, clinics, and ambulatory surgical centers (ASCs). Hospitals are major contributors to the market revenue, offering a wide range of treatment options for varicose veins. Clinics, both specialized and general, also play a significant role in providing diagnosis and treatment services. ASCs are gaining popularity due to their convenience and cost-effectiveness for outpatient procedures.

The regional scope of the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions have a significant prevalence of varicose veins and a growing demand for effective treatment options.

The country scope includes key markets such as the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey. These countries represent major healthcare markets and have a high demand for varicose vein treatment devices.

Overall, the varicose vein treatment devices market is characterized by a diverse range of product types, catering to different treatment approaches. The market's end-use landscape includes various healthcare settings, providing treatment options to patients. Regionally, the market is witnessing growth across different parts of the world, reflecting the global burden of varicose veins.

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Strategic development:

In February 2022, Boston Scientific acquired Veniti, a specialized medical device business focusing on the treatment of venous diseases, including varicose veins. This acquisition aims to expand Boston Scientific's product portfolio in the field of venous disease treatment and increase its market share in varicose vein treatment.

AngioDynamics, Inc. announced the launch of their new VenaCure EVLT laser fiber in 2021. This innovative fiber utilizes advanced laser technology to precisely and effectively treat varicose veins while minimizing the risk of heat damage.

In July 2019, Medtronic plc. introduced the VenaSeal closure system, a minimally invasive treatment solution for varicose veins. This technique utilizes a patented glue to seal damaged veins without the need for incisions or general anesthesia.

Competitive Landscape:

The competitive landscape in the varicose vein treatment market features several key players driving innovation and growth in the industry. Medtronic plc., a renowned medical technology company, is actively involved in providing advanced solutions for varicose vein treatment. Boston Scientific Corporation is another prominent player that expanded its market share through the acquisition of Veniti, strengthening its position in the varicose vein treatment segment.

AngioDynamics, Inc. stands out for its VenaCure EVLT laser fiber, which utilizes cutting-edge laser technology to deliver precise and effective treatment for varicose veins. Lumenis Ltd. and Syneron Medical Ltd. are also notable competitors, offering innovative medical devices and solutions for varicose vein treatment.

Dornier MedTech GmbH, Alma Lasers Ltd., and Energist Ltd. contribute to the competitive landscape with their range of products and expertise in the field. Sciton Inc., Merz Pharma GmbH & Co. KGaA, and BTG International Ltd. are recognized for their commitment to developing advanced technologies for varicose vein treatment.

Other notable players in the market include Biolitec AG, Integra LifeSciences Corporation, Diomed, Inc., and Vascular Solutions, Inc., each making significant contributions to the industry through their products and services.

The competitive landscape of the varicose vein treatment market is characterized by intense competition, technological advancements, and a focus on providing effective and minimally invasive solutions to address the needs of patients worldwide.

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In conclusion, the global Varicose Vein Treatment Devices Market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.

Nikhil Morankar
Reports and Data
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