The varicose veins are uncharacteristic, dilated blood vessels instigated by the dwindling of the vessel walls. Such veins acted to be a twisted, swollen, cluster of blue or purple veins under the skin. The varicose vein syndrome distresses the millions of individuals all across the globe. The symptoms of varicose vein frequently appear at the age of 40 and primarily appeared in the legs. In addition, the varicose vein is detrimental to the health if they lead to venous stasis ulcers, thrombosis, phlebitis, venous hemorrhage, or fungal and bacterial infections.
According to the report analysis, ’Global Varicose Veins Market (2018-2023)’ states that in the worldwide varicose veins market, there are numerous level of companies which recently functioning more effectively for leading the fastest market growth and registering the handsome value of market share around the globe throughout the short span of time while positively augment the prevalence of the varicose veins, studying and analyzing the strategies and policies of the legal authorities, effectively developing the healthcare infrastructure and forming favorable policies and strategies and delivering effective consumer satisfaction at an economical cost includes AngioDynamics, Inc., Syneron Medical Ltd., Vascular Insights, LLC, Biolas Health, Inc., Energist Ltd., Medtronic plc, BTG plc, Alma Lasers, Inc., Lumenis Ltd., and several others.
Additionally, the worldwide varicose vein treatment devices market is predicted to reach USD 1,388.86 Mn by 2023, enlarging at a compound annual growth rate (CAGR) of 16.4% during the forecasted period of 2018-2023. The number of patient distress from the varicose veins is augmenting. However, the technologically advanced treatment processes are also emerging, which is anticipated to bolster the growth of the market during the review duration.
Based on the end-user sector, the hospital sector gathered the prevalent share in 2017, followed by surgical clinics and specialized clinics. The convenience of knowledgeable medical professionals, coupled with satisfactory medical insurance policies has propelled the requirement for the varicose veins treatment at hospitals. This sector controlled a 55.8% share of the worldwide revenue in 2017. Not only has this, the specialized clinic's sector, which involves the dedicated clinics for varicose veins management, is anticipated to witness a speedy growth of 18.0% from 2018 till 2023. Patients, specifically those from developed economies, are probable to foster the requirement for the treatment at specialized clinics throughout the forecast period. Satisfactory availability of cutting-edge, marginally invasive treatment measures is prophesied to fuel the growth of this sector.
Based on the geography, North America was the principal regional sector, registering for a 45.3% share of the worldwide revenue in 2017. An increasing geriatric populace, obesity, and sedentary lifestyle in regions such as the U.S. and Canada, have resulted in the augmented pervasiveness of varicose veins. Advanced healthcare infrastructure, coupled with satisfactory reimbursement policies have fueled the requirement in this region in the recent past couple of years.
Moreover, Europe was the second-leading regional sector in 2017, followed by Asia-Pacific. The market share of the Asia-Pacific region is predicted to enlarge at the highest CAGR of 20.3% during the reviewed period of 2018-2023, due to the augmented awareness among patients, along with an effective increase in healthcare expenditure. The regions such as China, India, Japan, and South Korea are probable to experience noteworthy growth over the next few years, due to the prospects of the increasing medical tourism industry, and a great patient pool. Therefore, it is predicted that in the coming years, the market of varicose veins will increase across the globe over the coming years.
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Ankur Gupta, Head Marketing & Communications