Market Size of Global Varicose Veins Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Varicose Vein Treatment Market Analysis
The varicose veins treatment market is expected to register a CAGR of 6.0% over the forecast period, 2022-2027.
The outbreak of COVID-19 is expected to impact the market significantly, as the focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients. Thus, the treatment of non-emergency medical conditions was given lesser priority. According to the study titled "Changing Venous Practice in the COVID-19 Era: 'Never Let a Good Crisis Go to Waste' published in the Annals of Vascular Surgery in May 2021, The national health services hospital and private hospitals stopped treating people with varicose veins and their complications during the COVID-19 Lockdown. Due to a lack of anesthetic sessions, the number of varicose vein surgeries has decreased significantly, with anesthetists being preoccupied with emergency cases, both COVID and non-COVID. Also, the geriatric population and people with co-morbid conditions are generally prone to develop venous diseases, such as varicose veins. This population is also at higher risk of being infected by the SARS-CoV-2 virus. Hence, most of the interventions related to the treatment of varicose veins are reserved and deferred during the pandemic, which is expected to significantly impact the growth of the studied market.
The market for the treatment of varicose veins is majorly driven by factors such as the growing preference of the general population for minimally-invasive surgeries, the rising geriatric population, and the technological advancements in the devices used for this treatment.
Furthermore, rising prevalence of the vericose vein anticipated to drive the growth of the market. According to a research article titled "Varicose veins and its risk factors among nurses at Dhulikhel hospital: a cross sectional study" published in BMC Nursing in February 2020, varicose veins are considered one of the most common chronic venous disorders, affecting 20-60% of all adults globally. Additionally, according to the study titled "Prevalence and awareness of varicose veins among teachers in Abha, Saudi Arabia" published in the Journal of Family Medicine and Primary Care May 2020 nearly 42% of the teachers who participated in a research study were diagnosed with varicose veins in Abha, Saudi Arabia. Obesity, particularly among women, prolonged standing hours at work, and smoking, are some of the significant risk factors associated with the development of varicose veins. Additionally, varicose veins are observed to be diagnosed during pregnancies due to the enlargement of the gravid uterus, which results in hypertension and distension in the lower-extremity veins and an increase in hormone secretion, leading to the weakening of the venous walls.
Vericose vein is most prevalent in the geriatric population, moreover rising in geriatric population anticipated to boost the market. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double from 12% to 22% between 2015 and 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past.
Additionaly, growing product launches by the key market players anticipated to boost the market growth. For Instance in October 2020, THERACLION an innovative company specialized in echotherapy treatment (using High Intensity Focused Ultrasound or HIFU), has obtained CE Mark for the second generation of SONOVEIN, it's HIFU treatment solution for varicose veins.
With technological advancements and the growing focus on improvising the healthcare system, the market is expected to witness steady growth over the forecast period. However, the high costs and risks associated with the procedures involved in vein surgeries are expected to hinder the market.
Varicose Vein Treatment Industry Segmentation
Varicose veins are superficial veins present under the skin in the legs, which become enlarged and twisted. The varicose veins treatment market includes the type of treatment and the devices used for the same. The market is segmented by treatment type, product, and geography. By treatment type, the market is segmented into endovenous ablation, injection sclerotherapy, and surgical ligation/stripping. By product, the market is segmented into ablation devices (radiofrequency ablation devices and laser ablation devices), venous closure products, and surgical products. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value of the market (in USD million) for the above segments.
| By Treatment Type | |
| Endovenous Ablation | |
| Injection Sclerotherapy | |
| Surgical Ligation/Stripping |
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| Venous Closure Products | ||||
| Surgical Products |
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Global Varicose Veins Treatment Market Size Summary
The varicose vein treatment market is poised for steady growth, driven by increasing preferences for minimally invasive procedures, advancements in medical technology, and a rising geriatric population prone to venous diseases. The market's expansion is, however, tempered by challenges such as the high costs and risks associated with vein surgeries. The COVID-19 pandemic significantly impacted the market, as non-emergency treatments were deprioritized, leading to a decrease in varicose vein surgeries. Despite these challenges, the market is expected to benefit from the growing prevalence of varicose veins, influenced by factors such as obesity, prolonged standing, and hormonal changes during pregnancy. Technological innovations, particularly in laser ablation treatments, are enhancing the appeal of non-invasive procedures, contributing to market growth.
North America is anticipated to maintain its dominant position in the varicose vein treatment market, supported by well-established healthcare systems and favorable reimbursement policies. The region's market growth is further bolstered by the presence of major industry players and a high prevalence of varicose veins. The competitive landscape is characterized by a mix of local and international companies, with key players like Medtronic, AngioDynamics, and Teleflex leading the charge. Strategic initiatives such as product launches, mergers, and collaborations are expected to drive market expansion. As the market continues to evolve, the introduction of innovative treatments and devices is likely to enhance the accessibility and effectiveness of varicose vein treatments, ensuring robust growth over the forecast period.
Global Varicose Veins Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Preference for Minimally-invasive Surgeries
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1.2.2 Technological Advancements in Devices
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1.2.3 Growing Geriatric Population
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1.3 Market Restraints
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1.3.1 High Cost of the Procedure
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1.3.2 Risk Associated with the Vein Surgeries
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Treatment Type
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2.1.1 Endovenous Ablation
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2.1.2 Injection Sclerotherapy
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2.1.3 Surgical Ligation/Stripping
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2.2 By Product
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2.2.1 Ablation Devices
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2.2.1.1 Radiofrequency Ablation Devices
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2.2.1.2 Laser Ablation Devices
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2.2.2 Venous Closure Products
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2.2.3 Surgical Products
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Varicose Veins Treatment Market Size FAQs
What is the current Global Varicose Veins Treatment Market size?
The Global Varicose Veins Treatment Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Global Varicose Veins Treatment Market?
Medtronic Plc, AngioDynamics, Inc., Lumenis, Teleflex Incorporated and Quanta System (El.en.) are the major companies operating in the Global Varicose Veins Treatment Market.
