Varicose Veins Treatment Devices Market Observe Significant Growth Of USD 2.1 Billion By 2030
Posted by Neha Bora on December 9th, 2022
San Francisco, 9 Dec 2022: The Report Varicose Veins Treatment Devices Market Size, Share & Trends Analysis Report By Type (Endovenous Ablation, Sclerotherapy, Surgical Ligation & Stripping), By End Use, By Region, And Segment Forecasts, 2022 - 2030
The global varicose veins treatment devices market size is expected to reach USD 2.1 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.21% from 2022 to 2030. The increasing technological advancements, the increased availability of advanced treatment devices, and a shift toward less-invasive procedures are the key factors contributing to the growth of the market.
The huge burden of vascular diseases in Europe and North America, the increasing patient compliance and reliability, and the rapidly growing geriatric population are majorly driving the market. According to the data of the Vein Care Team, approximately 35% of the adult white population of Europe and North America suffers from chronic venous disease manifested by varicose syndrome.
Lifestyle disorders such as obesity, sleep disorders, blood pressure levels, hormonal changes, genetic disorders, and pregnancy are contributing to peripheral vascular diseases. Untreated venous insufficiency, such as varicose veins and venous ulcers, cause progressive syndromes including chronic venous insufficiency. According to the study published in 2018 by Saf Health Work, lower limb varicose veins were reported in 10-30% of the population globally. It is the most common disease in the world and is estimated to affect 5% of the population in Western countries.
Moreover, COVID-19 has hurt the market. Many varicose veins surgeries were postponed or canceled as they fall under the category of nonurgent procedures. According to the Canadian Institute for Health Information, the number of varicose veins surgeries from March to June 2020 witnessed a double-digit decline compared to 2019. This had a negative impact on the overall market. Manufacturers operating in the market witnessed a decline in their revenues. For instance, the peripheral intervention segment of Merit Medical Systems, Inc. witnessed a decline of 2.7% in its revenue in 2020. Similarly, Medtronic’s aortic, peripheral & venous segment revenue fell by 7% in 2020. This was mainly driven by the COVID-19 pandemic-related decline in procedure rates.
Access Research Report of Varicose Veins Treatment Devices Market @ https://www.grandviewresearch.com/industry-analysis/varicose-veins-treatment-devices-market
Varicose Veins Treatment Devices Market Report Highlights
List of Key Players in Varicose Veins Treatment Devices Market
Access Press Release of Varicose Veins Treatment Devices Market @ https://www.grandviewresearch.com/press-release/global-varicose-veins-treatment-devices-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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