The global Varicose Veins Treatment Devices Market is expected to reach USD 1.7 billion
by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to register a CAGR of 6.3% during the forecast period. Rising
investments by the key healthcare companies to develop innovative and effective
products is likely to drive the growth.
Varicose veins can be unsightly
and can lead to considerable discomfort in some cases. Available treatments for
varicose veins have improved since the last few years. Various healthcare
providers are offering minimally invasive techniques such as radiofrequency
ablation and laser therapies. Due to the risk of infections associated with
invasive surgeries, surgical vein stripping methods have been replaced by
noninvasive procedures. Sclerotherapy is the most popular procedure and is used
as a first-line of treatment among endovenous ablation and surgical stripping.
North America held the leading
market share in terms of revenue in 2018 due to technological advancements and
the fact that about 30 million Americans suffer from varicose vein each year.
In U.S., Medicare provides coverage to the patients undergoing sclerotherapy
treatment for varicose veins, which can increase its adoption by the care
providers and especially by the patients.
Some market players purchase
products from core manufacturers and distribute. For instance, AngioDynamics,
Inc. purchased Asclera from Merz in March 2016. AngioDynamics announced that it
has entered into an agreement with Merz North America, a part of the global
Merz Pharma Group, for the distribution of Asclera injection within U.S. In
another development, Medtronic announced that the new CPT codes may aid in
getting positive coverage for its VenaSeal closure device from the public and
private insurers in U.S. in November 2017.
Development of innovative
products, commercialization, and availability of reimbursements are some of the
strategies undertaken by the market players to strengthen their position in the
varicose veins treatment devices market. In May 2016, Navarro opened a vein
center in U.S. with a vision to educate the community about chronic venous
insufficiency and varicose veins and the proper treatment options.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/varicose-veins-treatment-devices-market
Further key findings from the report
suggest:
·
Sclerotherapy segment led the
market in 2018 due to the advantages of this treatment such as no scarring; no
need for anesthesia; no need for hospital admission; simple follow-up
treatments; and favorable reimbursement policies
·
Endovenous ablation segment is
anticipated to witness the fastest growth over the forecast period as this
treatment is preferred over the conventional procedures such as surgical
stripping and ligation
·
Asia Pacific is expected to be
the fastest growing region in the forthcoming years due to rising awareness
about minimally invasive and noninvasive procedures, rising disposable income
levels, and a large base of geriatric population
·
Some of the key players
operating in the varicose veins treatment devices market are AngioDynamics,
Inc.; Medtronic plc; Syneron Medical Ltd.; Biolitec AG; Lumenis Ltd.; Energist
Group; Eufoton srl; and Teleflex, Inc.
·
In addition, market players
acquire other vascular businesses to boost their own product portfolio and
overall revenue. For instance, Teleflex acquired Vascular Solutions, Inc. in
2017.
About Us:Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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