Varicose Vein Treatment Market to Garner $5.8 Bn, Globally, by 2027 at 5.7% CAGR, Says Allied Market Research

Portland, OR, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report “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, 2019 – 2025.” According to the report, the global varicose vein treatment market accounted for $376.64 million in 2017 and is anticipated to garner $589.06 million by 2025, registering a CAGR of 5.7% during the forecast period, 2019-2025.

Major drivers of market growth

The growth of the global varicose vein treatment market is driven by the rise in incidences of varicose vein problem, increase in geriatric population, and technological advancements in varicose vein treatment devices. Additionally, growth of awareness in emerging economies would provide lucrative opportunities to emerging market players in the near future. However, dearth of skilled healthcare professionals and occasional product recall impede market growth.

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Covid-19 scenario:

  • Even though Covid-19 is a viral infection, the overlapping radiological and clinical features with bacterial respiratory tract infection demand oral antibiotics.
  • Several virologists claim that prescribing antibiotics for Covid-19 patients could create more resilient virus, which decreased the demand for antibiotics. 

Injection sclerotherapy segment projected to occupy the largest share in the near future.

By procedure, the injection sclerotherapy segment generated almost three-fifths of the global revenue in 2017 and is expected to continue its dominance through 2025, owing to the accurate nature of its result. However, the endovenous ablation segment is expected to grow at the highest CAGR of 6.9% during the forecast period, owing to its ability to eliminate the collapsed vein through the body's natural process.

Commercial use segment to dominate the global market through 2025

By product, ablation devices segment is poised to encounter the highest growth from 2018 to 2025, a CAGR of 7.3%, as these devices are non-invasive and reduce recovery time. However, the sclerotherapy injection segment is projected to remain the dominant segment through the forecast period and occupy more than half of the global share.

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Asia-Pacific to continue dominating the global market

Regionally, Asia-Pacific would grow at the highest CAGR of 7.8% from 2018 to 2025, on account of rising consumer awareness, increase in geriatric population, and the growing adoption of advanced technology such as laser ablation and radiofrequency ablation.

Key market players

The key players analyzed in the report include Medtronic, Lumenis, Alma Lasers Ltd., Angiodynamics, Inc., Biolitec AG, BTG PLC, Energist Ltd., Sciton Inc., WONTECH Co., Ltd., and Syneron. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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