Varicose veins is a condition in which the veins become dilated, enlarged, and overfilled with blood. Veins have one-way valves which prevent the backward flow of blood. The failure of these valves results in the accumulation of blood and obstruct the flow to the heart. Varicose veins is most commonly seen in feet and legs as these body parts are far from the heart and the effect of gravity further prevents the flow of blood upwards. This condition, also known as varicoses or varicosities, is often painful with bluish-purple or red color appearance. The primary causes of varicose veins include chronic heart valve conditions, usually congenital; pregnancy; obesity; menopause; old age; and increased pressure on abdomen. It is also to be caused because of phlebitis (inflammation of the veins); and blood clots or obstruction to blood flow in the veins. It is more commonly observed in women than in men. The symptoms of varicose veins include visible, misshapen veins on the legs. The patient may also experience pain, swelling, and heaviness in the legs.
Varicose Veins Treatment Devices Market: Drivers and Restraints
The changing lifestyles leading to sedentary life and increased obesity among the population contributes to the increase in the incidence of varicose veins, leading to the growth of varicose veins treatment devices market. Increasing geriatric population who are at a high risk of developing varicose veins also contribute to the varicose veins treatment devices market growth. In addition, increased focus on research and development leading to the development of advanced technological products for the treatment of varicose veins such as closure systems, foster the varicose veins treatment devices market growth in the forecast period. Furthermore, increasing awareness among people also contributes positively to the varicose veins treatment devices market growth. However, lack of training for vascular surgeons, inconsistent reimbursement scenario, and the high cost of varicose veins treatment procedures poses a threat to the development of the global varicose veins treatment devices market.
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Varicose Veins Treatment Devices Market: Segmentation
The global varicose veins treatment devices market is classified on the basis of treatment, end user and geography.
Based on product type, the global varicose veins treatment devices market is segmented into the following:
- Radiofrequency systems
- Laser ablation
- Closure systems
- Ultrasound guided systems
Based on end user, the global varicose veins treatment devices market is segmented into the following:
- Ambulatory Surgical Centers
Varicose Veins Treatment Devices Market: Overview
The demand for sclerotherapy devices has been growing significantly owing to their benefits, such as painless procedure, reduced risk of collateral damage to surrounding tissues, fewer post-operative complications, no requirement of anesthesia, and time and cost efficiency among others contributing to the growth of the varicose veins treatment market. In addition, newer devices such as closure systems, which offer permanent treatment for varicose veins aid in the varicose veins treatment devices market growth. Based on end user, hospitals are expected to hold the highest market share in global market for varicose veins treatment devices market.
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Varicose Veins Treatment Devices Market: Regional Overview
The global market for varicose veins treatment devices is classified into seven regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is the highest revenue generating region in the overall varicose veins treatment devices market. Europe is the next leading region in the varicose veins treatment devices market. The strong growth in these regions can be attributed to growing health care awareness, advanced health care infrastructure, rising prevalence of varicose veins, increasing government spending, advanced health care infrastructure, and high disposable income. In addition, the changing reimbursement scenario specifically in the U.S., boosts the growth of the varicose veins treatment in North America. In varicose veins treatment devices market, Asia Pacific region is expected to grow at the highest CAGR, owing to improvement in health care infrastructure, increase in patient awareness about the advantage of seeking early treatment and surge in disposable income.
Varicose Veins Treatment Devices Market: Key Players
Some of the leading players competing in the global varicose veins treatment devices market include Syneron Candela, Covidien, PLC, AngioDynamics, Alna-Medicalsystem GmbH, AsclepionLaserTechnologies, Cooltouct, WONTechnology, LINLINEMedicalSystems, GIGAALASER, and B.Braun Melsungen, among others. The key strategies adopted by the major players in the varicose veins treatment devices market include product line and geographic expansion, acquisitions and mergers, investments in research and development, and competitive pricing policies.