Varicose Vein Treatment Devices Market, By Product Type, By End-use, and By Region Forecast to 2032

The global varicose vein treatment devices market size was USD 1.3 billion in 2022 and is expected to register a rapid revenue CAGR of 6 % during the forecast period. 

Key Pointers

• The laser-based devices segment accounted for significantly large revenue share in 2022. 
• The RF ablation devices segment is expected to register fastest revenue growth rate in the global varicose vein treatment devices market during the forecast period.
• The surgical devices segment is also expected to account for significantly large revenue share in the varicose vein treatment devices market during the forecast period.
• The hospital segment accounted for largest revenue share in the global varicose vein treatment devices market during the forecast period.
• The clinics segment is expected to register fastest revenue growth rate in the global varicose vein treatment market during the forecast period.
• The ASCs segment is anticipated to account for considerably large revenue share in the global varicose vein treatment market during the forecast period.
• The North America market accounted for largest revenue share in the global  varicose vein treatment devices market in 2022. 
• The Europe market is expected to register significantly fast revenue growth rate in the global varicose vein treatment devices market during the forecast period.
• The Asia Pacific market is expected to account for considerably large revenue share in the global varicose vein treatment devices market during the forecast period.

Rising demand for minimally invasive procedures to treat varicose veins and increasing investments by market players to develop innovative and effective products and number people becoming more aware about significance of receiving timely treatment are major factors driving market revenue growth.

Varicose veins are twisted, bulging, swollen veins that commonly develop in legs and can be painful, uncomfortable, and unsightly. According to National Institutes of Health (NIH), almost 23% of American people have varicose veins, which necessitates use of effective and cutting-edge treatment modalities.

Minimally invasive varicose vein treatment methods including Radiofrequency Ablation (RFA) and Endovenous Laser Therapy (EVLT) are in high demand due to their excellent efficacy, low complication rates, and short recovery times. Technological improvements, such as creation of sophisticated laser fibers and catheter-based devices that enable precision and better patient outcomes, is another factor increasing popularity of these operations. While, favorable reimbursement policies for these operations is also driving revenue growth of the market.

A range of end-use industries, including hospitals, clinics, and Ambulatory Surgery Centers, are experiencing rising demand for varicose vein therapy equipment. Moreover, rising prevalence of disorders linked to lifestyle, such as diabetes, hypertension, and obesity, is expected to drive market revenue growth.

The world's aging population, especially in wealthy nations, is increasing use of varicose vein therapy equipment. For instance, by 2050, there will be around 1.5 billion people in the world who are 65 years of age or older, which will rise demand for efficient and effective varicose vein treatment alternatives.

Furthermore, increasing adoption  of high-quality and secure varicose vein treatment devices due to stringent government regulations addressing safety and effectiveness of medical equipment, is driving market revenue growth. For example,  the U.S. Food and Drug Administration (FDA) regulates and authorizes medical devices to treat varicose veins.

Low patient awareness about available treatments, high treatment costs, and availability of cheaper alternative treatments, such as compression stockings, are major factors, which could restrain market revenue growth.

Major Companies and Competitive Landscape:

Major players in the global varicose veins treatment devices market include:

• Medtronic plc.
• Boston Scientific Corporation
• AngioDynamics, Inc.
• Lumenis Ltd.
• Syneron Medical Ltd.
• Dornier MedTech GmbH
• Alma Lasers Ltd.
• Energist Ltd.
• Sciton Inc.
• Merz Pharma GmbH & Co. KGaA
• BTG International Ltd.
• Biolitec AG
• Integra LifeSciences Corporation
• Diomed, Inc.
• Vascular Solutions, Inc.

Varicose Vein Treatment Devices Market Segmentations: