The global Varicose Veins Treatment Devices Market size is expected to reach USD 2.1 billion by 2030, according to a new study by Grand View Research, Inc. 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 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 hurt 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.
Related Press Release@ Varicose Veins Treatment Devices Market Report
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
- The 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
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment