Varicose Veins Treatment Market Size, Share Global Analysis Report, 2022 – 2030

Industry Insights

[218+ Pages Report] According to the report published by Facts and Factors, the global varicose veins treatment market size was worth around USD 672 million in 2021 and is predicted to grow to around USD 1450 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.86% between 2022 and 2030. The report analyzes the global varicose veins treatment market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the varicose veins treatment market.

Market Overview

Varicose vein is a medical condition in which the veins become enlarged and twisted. Any superficial vein or the ones that are close to the skin can get affected by the disease, however, veins in the legs are the most commonly affected veins. This is influenced because of continuous walking or standing, the veins are perpetually under a lot of pressure. For some people, varicose veins may be a medical condition and for some people showing varicose veins or spider veins is a matter of cosmetic concern. There are cases in which the condition may become more serious and require advanced professional care.

The treatment method for patients may be different including self-care processes as well as operational procedures are done by doctors like vein removal. The condition is mostly non-painful and the symptoms include veins appearing building twisted and extremely dark blue in appearance. In case of painful symptoms, the patient might complain of heavy feelings in the leg and itching around the veins. The pain intensity may increase after a long duration of sitting or standing and the skin around the varicose vein may appear different as compared to the rest of the skin areas.

Key Insights

• As per the analysis shared by our research analyst, the global varicose veins treatment market is estimated to grow annually at a CAGR of around 6.86% over the forecast period (2022-2030)
• In terms of revenue, the global varicose veins treatment market size was valued at around USD 672 million in 2021 and is projected to reach USD 1450 million, by 2030.
• The market is projected to grow at a significant rate due to the growing number of patients suffering from the condition
• Based on product segmentation, endovenous laser systems were predicted to show maximum market share in the year 2021
• Based on end-users segmentation, specialized clinics were the leading users in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Growth Drivers

• Growing number of patients suffering from varicose veins to propel market growth

The global varicose veins treatment market is projected to grow owing to the increase in the number of people suffering from medical conditions. Varicose veins are caused because of weak vein valves or walls. The veins consist of one-way valves which open to let the blood flow in. In some cases, once the walls present in the veins may stretch and become loose and if the valves stop functioning correctly, blood starts flowing backward due to leakage leading to the blood getting collected in the veins and causing varicose veins. There is no one singular cause of the condition which makes developing effective treatment even more difficult. However, certain sections of society are more at risk than others. For instance, the condition is more common in the female population as compared to men. If there is a family member who has suffered from varicose veins, the chances of other members contracting the condition remain high.

Restraints

• Associated side-effects with treatment to restrict market expansion

One of the commonly used methods of treating varicose veins is endovenous laser therapy which uses heat generated from a laser to reduce spider veins. The surgery helps to close or shrink the veins also leading to the creation of scar tissue in the vessel which seals off the affected vein and the blood can pass through other veins. However, there are significant risks associated with the operation, including nerve damage, bruising, bleeding, infection, burns, redness or swelling, and change in skin color. The operation can lead to long-term discomfort in the patients which could restrict global market expansion.

Opportunities

• Growing strategic actions by market players to provide higher growth opportunities

The global varicose veins treatment market could witness higher growth opportunities due to the growing strategic measures adopted by the players operating in the segment. In 2021, BD, one of the leading global medical technology corporations entered the varicose vein treatment market with the latest acquisition of Venclose, a developer of catheter therapy. The acquisition was made for an undisclosed sum, but the move has allowed BD to strengthen its foothold in the medical community. Venclose is the maker of a radiofrequency ablation catheter.

Challenges

• Lack of healthcare accessibility to act as a major challenge

There is a significant gap in the demand for effective treatment and supply of the same for varicose veins. The reasons for the gap are manifold of which the top-ranking concern is the lack of healthcare infrastructure to support the treatment and postoperative care. For example, the health system in Sudan remains fragile and there are enormous disparities between the rich and the poor in the country as claimed by the United Nations International Children's Emergency Fund (UNICEF).

Segmentation Analysis

The global varicose veins treatment market is segmented based on end-user, product, and region

Based on end-users, the global market is divided into ambulatory surgical services, hospitals, and specialized clinics. In 2021, the global market was dominated by the specialized clinics segment due to the high influx of patients and surging number of successful surgeries. People living with varicose veins sometimes undergo treatment for cosmetic reasons which may not be directly connected to medical concerns. Such operations are carried out in specialized settings as they are well-equipped with knowledge and other necessary resources. Cosmetic sclerotherapy is the most widely used method to remove small spider veins painlessly and in less time. The outpatient procedure lasts for around 30 to 45 minutes and the patient may suffer from a mild burning sensation that lasts for a few minutes.

Based on product, the global market is divided into endovenous laser fibers, endovenous laser systems, and treatment methods. In 2021, the global market generated the highest revenue from endovenous laser systems due to its high dominance over the global market share. Over 52% of the total revenue was from endovenous laser systems driven by the high popularity and success rate of the non-invasive procedures. Endovenous Laser Ablation or EVLA is similar to Endovenous radiofrequency ablation but more advanced and effective.

Recent Developments:

• In May 2022, Theraclion, a visionary company responsible for developing a scalable robotic platform for non-invasive echotherapy, announced the launch of SONOVEIN® HD which works with a combination of SuperSonic Imagine and extracorporeal therapeutic ultrasound solution to treat vein conditions
• In April 2022, I-VASC Srl announced the achievement of closing 1,8M € Series A investment toward the launch of VELEX™ which will be used for the treatment of chronic venous insufficiency (CVI)

Report Scope

Regional Analysis

• North America to lead with the highest market share

The global varicose veins treatment market is projected to register the highest growth in North America due to the increase in the number of patients suffering from the condition. In the US, more than 36% of the population is affected by varicose veins. One of the most influential factors that can lead up to the condition is obesity. A recent report submitted by the Trust for America’s Health (TFAH), stated that 4 in 10 American adults are obese and the rate of obesity is increasing by a high percentage. As per the findings of the same report, not one state in the country had an obesity rate over 35% until a decade ago.

However, as of 2022, more than 19 states have crossed the limit. In Kentucky, the obesity rate stood at 40.3%, and the same rate in West Virginia was 40.6%. Several biological, environmental, societal, and genetic causes could be the reason for the high obesity index.

Competitive Analysis

• WONTECH Co. Ltd 
• I-VASC 
• Dornier Medtech GmbH 
• Energist Ltd 
• LSO Medical 
• Alma Lasers Ltd.

The global varicose veins treatment market is segmented as follows:

By End-Users Segment Analysis

• Ambulatory Surgical Services
• Hospitals
• Specialized Clinics

By Product Segment Analysis

• Endovenous Laser Fibers
• Endovenous Laser Systems
• Treatment Method

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America