Global Varicose Vein Treatment Market to Clock CAGR of ~5% From 2019 to 2027, Expanding Array of New Minimally-Invasive Techniques Key to Growth

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Varicose Vein Treatment Market: Key Driving Factors

Trends pertaining to risk factors of varicose veins and manifestation of chronic venous insufficiency in patients have been propelling the evolution of the varicose veins treatment market.

• Obesity is a key risk factor associated with varicose veins and has been a key driver for demand in some developed nations, such as the U.S. According to CDC, the prevalence of obesity was 39.8% in adults during 2015 – 2016.
• More than 40,000 operations are performed each year for varicose veins in the U.K. This has driven the demand for endovenous ablation techniques.
• According to Occupational Safety and Health Research Institute, the reported worldwide prevalence of lower limb varicose veins lies between 10% - 30%. This has been a substantial driver for effective and safe therapeutic interventions and surgical techniques.

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Key Impediments to Varicose Vein Treatment Market Players

High cost is a major factor dampening uptake of varicose vein treatment methods in patient populations around the world. The average cost of vein stripping surgery can run into thousands of dollars.

Paucity of effective diagnostic modalities and less awareness among patient population have hampered the evolution of the varicose veins treatment market. Players are relentlessly focused on introducing effective as well as cost-effective therapies for the treatment of varicose veins.

Varicose Vein Treatment Market: Region-wise Analysis

Both North America and Europe are prominent markets for varicose veins treatment. North America held the leading share in 2018, followed by the other. Numerous strategic moves made by key players in these regional markets have been propelling their expansion.

In particular, adoption of novel treatment techniques and technologically developed surgical methods for the patient population is driving revenues in the North America market. Prominently, prevalence of varicose veins and several venous insufficiency in the U.S. has spurred the demand for minimally-invasive and effective therapeutic intervention among the patient population.

Competition Landscape

Most players are on their heels to unveil new, novel techniques to consolidate their position in various key markets. Top companies planning to consolidate their shares are focusing on geographic expansions. To this end, a few players have harnessed the strength of mergers and acquisitions. Further, they are engaging in distribution agreements that will help them cater to the unmet needs in emerging markets.