VARICOSE VEIN TREATMENT DEVICES MARKET ANALYSIS

Varicose Vein Treatment Devices Market Size and Trends

The varicose vein treatment devices market is estimated to be valued at USD 1,277.1 Mn in 2024 and is expected to reach USD 1,997.5 Mn by 2031, growing at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

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The varicose vein treatment devices market is expected to witness positive growth over the forecast period. There is an increasing prevalence of varicose veins around the world owing to rising obesity levels and sedentary lifestyles. Advanced treatment procedures, such as endothermal ablation and ultrasound-guided foam sclerotherapy, are gaining popularity over traditional surgery due to benefits such as less pain, fewer complications, and faster recovery. Further, favorable reimbursements and increasing awareness about varicose vein treatments are also fueling the adoption of varicose vein treatment devices.

Increasing geriatric population

Increasing geriatric population is expected to drive market growth during the forecast period. Aging causes wear and tear on the valves in the veins that help control blood flow. Eventually, that wear causes the valves to get weaker, allowing for the blood to flow backwards. The pressure from the increased amount of blood within the vein build ups results in twisted, bulging veins known as varicose veins. For instance, according to data published in April 2021 on Canada.ca, a Canadian government website over 861,000 people aged 85 and older were counted in the Canada 2021 Census.

In the past, varicose veins were generally considered a cosmetic issue. This led to many people dismissing the condition or ignoring it. However, over the past decade there has been a significant increase in public health awareness campaigns around varicose veins. People are now more cognizant that varicose veins are not just a cosmetic issue but can also be symptomatic and cause issues such as leg pain, fatigue, swelling, skin discoloration or ulcers in severe cases. As such, the condition is perceived to require treatment rather than be ignored. Accompanying this rise in awareness, there have also been major advancements in varicose vein treatment technologies and techniques. Minimally invasive procedures such as endovenous laser ablation and radiofrequency ablation have largely replaced conventional surgeries as treatment options. These newer techniques offer advantages such as being on outpatient basis, minimal incisions, lesser pain, and faster recovery. Additionally, the availability of experienced phlebologists and vein treatment centers has expanded greatly.