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Global Varicose Vein Treatment Market Expected to Reach $589.06 Million by 2025

 
 

quote Increase in the number of varicose vein patients plays a major role in the growth of the varicose vein treatment market. Furthermore, increase in adoption of latest laser devices including radiofrequency and endovenous laser ablation devices is the major driving factor for the varicose vein treatment market quote

Onkar Sumant
Assistant Manager, Healthcare Research at Allied Market Research

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According to a new report published by Allied Market Research, titled,"Varicose Vein Treatment Market by Procedure, Product, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global varicose vein treatment market was valued at $376.64 million in 2017, and is expected to reach $589.06 million by 2025, growing at a CAGR of 5.7% from 2018 to 2025.

Varicose vein treatment are devices used to monitor asthma and prevent asthma attacks related complications. Growth in geriatric population and increase in cases of asthma drive the growth of the global varicose vein treatment market. Moreover, some of the factors such as increase in healthcare expenditure and better clinical outcomes fuel the market growth. However, product recall and lack of skilled healthcare professionals are expected to hinder the growth of the global market.

Based on procedure, the global varicose vein treatment market is segmented into endovenous ablation, injection sclerotherapy, surgical ligation/stripping. Currently, the injection sclerotherapy segment is leading the market and is estimated to grow at the highest rate. While, endovenous ablation devices are estimated to experience rapid growth rate.

Based on product, the global varicose vein treatment market is segmented into sclerotherapy injection, ablation devices and others. Ablation devices segment is further bifurcated into radiofrequency ablation devices, laser ablation devices and others. Currently, the ablation devices segment is estimated to grow at the fastest rate.

Based on end user, the global varicose vein treatment market is classified into hospitals, clinics, and ambulatory centers. Presently, the hospital segment dominates the global market and is estimated to grow at the highest and fastest rate during the forecast period.

Key Findings of the Varicose Vein Treatment Market:

  • Based on procedure, the sclerotherapy segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 5.5% from 2018 to 2025
  • Based on product, the ablation devices segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 7.3% from 2018 to 2025.
  • Based on end user, the hospital segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
  • Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.8% during the forecast period.

North America accounted for approximately one-half of the global market share in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the rise in demand for endovenous ablation devices, increase in number of varicose vein patients, and rise in geriatric population. While Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to rise in number of geriatric varicose vein patients and increase in adoption of new and advanced technology for varicose vein treatment.

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quote Varicose Vein Treatment Market by Procedure (Injection Sclerotherapy, Endovenous Ablation, Surgical Ligation and Stripping), Product (sclerotherapy injection, Ablation devices and others) and End User (Hospitals, Clinics, and Ambulatory centers): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 quote

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