Varicose Vein Treatment Market

Global Varicose Vein Treatment Market Size (2024 to 2032)

The size of the global varicose vein treatment market is estimated to grow to USD 887.67 million by 2032 and USD 540.38 million in 2024, growing at a CAGR of 6.40% during the forecast period.

Current Scenario of the Varicose Vein Treatment Market

The rising cases of varicose veins mainly drive the varicose vein treatment market. This condition of enlarged veins appears mostly in the feet and legs. Pregnancy, hormonal changes, genetic disorders, and high blood pressure can cause it.

MARKET DRIVERS

The availability of advanced varicose vein treatment devices, a massive burden of varicose vein cases, improving patient compliance & reliability, growing healthcare expenditure, and rapid growth of the aging population are majorly propelling the varicose vein treatment market.

According to an article published by National Center for Biotechnology Information (NCBI), various factors could lead diagnosis of varicose veins. The incidence of varicose veins is the highest in Pakistan, and an estimated 23% of U.S. adults are suffering from varicose veins. The emergence of less invasive treatment procedures coupled with the growth of the senior population is expected to drive market growth during the forecast period. According to World Health Organization (WHO), an estimated 1 billion people were aged more than 60 years worldwide in 2023. Furthermore, the world varicose vein treatment market is fuelled by improved patient compliance through sustainable and safe techniques to cope with the massive burden of varicose veins incidents and increased access to medical devices for varicose veins. Additionally, the healthcare industry has seen a new trend of removing or destroying superficial veins with an improved patient experience.The growing  R&D efforts from the market participants to propel the varicose vein treatment market.

Companies in the varicose vein treatment market are increasing R&D to develop devices and garments with adequate compression that help reduce the incidence of pain associated with their use. According to the research article published in the Egyptian Family Medicine Journal 2023, the prevalence of varicose veins in women was 52.1% at the El-Nahda Center in the El-Salam Medical Zone in Cairo, Egypt. Hence, the increasing prevalence of varicose veins among the diverse global populations is expected to increase the market's growth. One of the many drivers of this industry is that the prevalence of varicose veins is high among women. It is more common in older women. The risk of varicose veins is higher in pregnant women and women taking hormone therapy for menopause. It is reported that women have twice the risk of varicose veins than men.

Furthermore, the growing number of super-specialty hospitals with advanced infrastructure and an increase in the number of technologically advanced treatment products to treat patients suffering from varicose veins diseases significantly promote market growth. In addition, the easy availability of devices used for the varicose veins treatment process, acceptable reimbursement policies, and aesthetics’ growing significance propel the demand of the worldwide varicose vein treatment market. The rising occurrences of the varicose vein health condition opened many opportunities for the major companies offering a wide variety of efficient treatment options.

The condition of varicose veins is common among people. The market participants exploring new treatment procedures that can effectively cure varicose veins is one of the factors anticipated to offer growth opportunities in the market. Healthcare providers increasingly adopt advancements such as ultrasound-guided foam sclerotherapy in varicose vein treatment. As a result, the companies are stepping up their research efforts to develop improved foam formulations, as the foam acts as a suitable alternative to the liquid. This treatment creates additional opportunities for the healthcare industry as sclerotherapy is associated with better outcomes and fewer patient complications.

MARKET RESTRAINTS

However, the shortage of trained vascular surgeons and the high cost of varicose vein treatment procedures can hinder the growth of the global varicose vein treatment market. Developing countries such as India and South Africa face challenges dealing with varicose veins because of high unmet needs. The challenges associated with the inconsistent reimbursement scenario for varicose vein treatment procedures. In addition, Hygiene issues are also hindering the adoption of compression products. The biggest challenge in this industry is neovascularization, a process in which the re-growth of veins occurs. It is possible that even after surgery, varicose veins will grow back. Sometimes varicose veins can develop on other parts of the legs.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Varicose Vein Treatment Market  By Treatment Types

The radiofrequency ablation devices segment is expected to command a significant share of the ablation devices market for varicose vein treatment based on the treatment type.

During the forecast period, the sclerotherapy segment is predicted to be the fastest-growing segment in the global varicose vein treatment market. Factors such as requiring less bruising and scarring, simple follow-up treatments, and favorable reimbursement policies propel the demand for this segment.

Varicose Vein Treatment Market By Device

By device, radiofrequency ablation devices dominate the varicose veins treatment market. The segment holds a 41.07% market share and is an effective treatment for facet joints, avoids surgery, and provides immediate pain relief.

Varicose Vein Treatment Market  By End-User

Based on the end-user, the hospital segment is projected to lead the global varicose vein treatment market during the forecast period and accounted for a market share of 54.4% in 2023. The rise in the adoption of treatment procedures and the easy availability of varicose vein treatments are majorly fuelling the market's growth rate.

REGIONAL ANALYSIS

Geographically, the varicose vein treatment market in North America is predicted to be dominating the global varicose vein treatment market, followed by Europe during the forecast period. The launch of technologically advanced treatments, Y-O-Y growth in varicose vein cases, and developed healthcare infrastructure primarily drive this regional market. In North America, the United States varicose vein treatment market accounted majority of the share and is predicted to continue its domination throughout the forecast period. The U.S. population can get treatment at a low cost with favorable reimbursement policies. According to Chicago Vein Institute, varicose veins incidence is higher in women than in men, 55% in women and 45% in men. The Canadian varicose vein treatment market is predicted to grow at a healthy rate between 2023 to 2032. BTG International Canada, Inc. introduced Varithena, a drug/device combination to treat varicose veins. It is used mainly for adults with clinically essential venous reflux diagnosed by duplex ultrasound.

The varicose veins treatment market in Europe is likely to have promising growth, and the market is to have a CAGR of 6.3% during the forecast period. The development of this regional market is mainly driven by the factors such as improved healthcare infrastructure, growing access to varicose vein medical devices, and patient compliance. As a result, European countries such as the U.K., Germany, and France are expected to have a lucrative CAGR during the forecast period, and the U.K. to govern most European market share.

The varicose vein treatment market in the Asia-Pacific is anticipated to witness impressive growth shortly. Rising awareness levels in the patients to have early diagnosis and treatment and the rapid rise in the aging population in the APAC counties are majorly accelerating the market growth in this region.  The Chinese market is predicted to lead this regional market due to growing healthcare expenses, the high adoption of unhealthy lifestyles surge, and rising disposable income accelerating the market demand. On the other hand, India and Japan are expected to have impulsive market growth, with favorable government initiatives, high adoption of laser treatments, and many key players. 

The varicose vein treatment market in Latin America is another lucrative region globally and is predicted to register a notable CAGR during the forecast period. The rising patient compliance, growing geriatric population, and hike in healthcare expenditure are expected to drive this regional market. The Brazilian market is forecasted to dominate this regional market during the forecast period.

The varicose vein treatment market in Middle East & Africa is anticipated to grow considerably during the forecast period. The launch of durable and reliable procedures and constant efforts to improve the healthcare infrastructure are creating growth opportunities for the market in this region. As a result, Africa is likely to have an inclined growth rate in this period.

KEY PLAYERS IN THE VARICOSE VEIN TREATMENT MARKET

Some of the promising companies leading the global varicose vein treatment market profiled in the report are Medtronic plc (Ireland), AngioDynamics, Inc. (U.S.), biolitec AG (Austria), Syneron Medical Ltd. (Israel), Lumenis Ltd. (Israel), Dornier MedTech GmbH (Germany), Energist Group (U.K.), Eufoton s.r.l. (Italy), Vascular Solutions, Inc. (U.S.), Quanta System S.p.A. (Italy), Sciton, Inc. (U.S.), Fotona d.o.o. (Slovenia), BTG plc (U.K.), Merz Aesthetics (U.S.).

RECENT HAPPENINGS IN THE  MARKET

• In March 2018, AccuVein Inc. announced the launch of the AccuVein AV400 vein viewing system. The AV400 can see veins up to 10mm deep and quickly detect large and small veins. In addition, an inverse model has been added that further helps to highlight small veins.

• In August 2017, Maury Regional Health resorted to adopting vein visualization as a standard for healthcare in the concerned region. As a result, the market for AccuVein is expected to grow. Maury Regional Health is one of the largest healthcare providers in Nashville, Tennessee, and Huntsville, Alabama.

DETAILED SEGMENTATION OF THE GLOBAL VARICOSE VEIN TREATMENT MARKET INCLUDED IN THIS REPORT

This research report segmented and sub-segmented the global varicose vein treatment market into the following categories and evaluated market size and forecast for each segment until 2029.

By Treatment Types

• Surgical Treatments
  • Vein Ligation and Stripping
  • Phlebectomy
• Non-Surgical Treatments
  • Laser Therapy
  • Trans-Illuminated Powered Phlebectomy (Trivex)
• Radiofrequency Ablation
  • Sclerotherapy

By Device

• Ablation devices
  • Radiofrequency Ablation Devices
  • Laser Ablation Devices
• Venous Closure Products
• Surgical Products

By End-User

• Surgery Centers
• Hospitals
  • Specialty Hospitals
  • Multispecialty Hospitals

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa