When veins are not functioning properly, varicose veins develop. One-way valves in veins stop blood from flowing backward. Blood starts to build up in the veins rather than flowing back towards the heart when these valves malfunction. The veins then grow in size. Legs are commonly affected by varicose veins. Gravity makes it more difficult for the blood to move higher because those veins are the farthest from the heart.
Global varicose vein treatment devices market is estimated to be valued at US$ 1,273.0 million in 2022 and is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030).
Figure 1. Global Varicose Vein Treatment Devices Market Share (%), by Treatment Method, 2022
Increasing prevalence of varicose veins is expected to propel growth of the global varicose veins treatment devices market over the forecast period.
Increasing prevalence of varicose veins is expected to propel growth of the global varicose veins treatment devices market over the forecast period. For instance, according to the American Vein and Lymphatic Society, in 2019 over 40 million people in the U.S. suffered from varicose vein.
Figure 2. Global Varicose Vein Treatment Devices Market Share (%), by Region, 2022
Increasing geriatric population is expected to drive market growth during the forecast period.
Increasing geriatric population is expected to drive market growth during the forecast period. Aging causes wear and tear on the valves in the veins that help control blood flow. Eventually, that wear causes the valves to get weaker, allowing for the blood to flow backwards. The pressure from the increased amount of blood within the vein build ups, resulting in twisted, bulging veins known as varicose veins. For instance, according to data published in April 2021 on Canada.ca, stated that, over 861,000 people aged 85 and older were counted in the Canada 2021 Census.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2022: | US$ 1,273.0 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.5% | 2030 Value Projection: | US$ 2,104.3 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
AngioDynamics, Inc., Syneron Medical Ltd., Dornier Medtech GmbH., Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, WONTECH Co., Ltd., Intros Medical Laser GmbH, and Energist Ltd. |
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Global Varicose Vein Treatment Devices Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.
Both manufacturers of varicose vein treatment devices and consumers have suffered as a result of the pandemic. The number of varicose vein treatments substantially decreased since varicose vein surgeries were not urgent.
Global Varicose Vein Treatment Devices Market: Key Developments
In February 2019, Medtronic, which is a medical device company launched Accurian RF ablation system for treatment in U.S.
In December 2019, Leucadia Pharmaceuticals, a company manufacturing injectable generic drugs, launched Sodium Tetradecyl Sulfate (STS) generic, a U.S. Food and Drug Administration (FDA) approved sclerosing agent for the treatment of small varicose veins of the lower legs.
Global Varicose Vein Treatment Devices Market: Restraint
Lack of trained professionals for performing varicose vein surgeries, especially in emerging economies, is expected to hinder growth of the global varicose veins treatment device market.
Key Players
Major players operating in the global varicose vein treatment devices market include AngioDynamics, Inc., Syneron Medical Ltd., Dornier Medtech GmbH., Alma Lasers Ltd., Alna-Medicalsystem GmbH, LSO Medical, WONTECH Co., Ltd., Intros Medical Laser GmbH, and Energist Ltd.
Varicose veins, also known as varicosities or varicoses, is a condition caused due to enlargement of veins. The veins appear blue or dark purple in color and are swollen in this condition. A patient suffering from varicosities may experience pain due to improper blood flow. The condition generally occurs on legs and feet, as upright position while standing and walking increases the pressure in the veins of lower body. Twisted, swollen veins are known as varicose veins. Varicose veins can develop in any superficial (near the skin's surface) vein. Leg veins are the most frequently affected by varicose veins. This is due to the fact that standing and walking put more strain on the lower body's veins. Symptoms of varicose veins includes swelling in legs skin discoloration, bulging veins and etc.
There are small one-way valves inside veins that open to let blood through and close to prevent it from going backward. Sometimes the veins' walls stretch and lose their elasticity, weakening the valves in the process.The blood may leak and flow backward if the valves are not working properly. If this occurs, the blood collects in the veins, which expand and swell.
Market Dynamics
Increasing product approvals by the key players for the treatment of varicose veins are expected to drive growth of market during the forecast period For instance, in October 2020, THERACLION, an innovative company specialized in echotherapy treatmen, obtained Conformité Européenne (CE) Mark, for the second generation of SONOVEIN, it’s High Intensity Focused Ultrasound (HIFU) treatment solution for varicose veins.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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