Canada Varicose Vein Treatment Devices Market | How has COVID-19 affected the market?
As per the study published in NCBI or National Centre for Biotechnology Information, over 3.7 million people in Canada are living with varicose veins. This has considerably heightened the need for effective and enhanced solutions for the treatment of this health condition. Various health associations in the region, including Ontario Health Technology Advisory committee are positively recommending Radio frequency Ablation as well as Endovenous Laser Ablation techniques. This trend is anticipated to bolster the growth trajectory of the Canada varicose veins treatment devices market. Some of the key types of solutions offered by the players in Canada varicose veins treatment devices market include endovenous laser ablation, sclerotherapy, fetal radiofrequency ablation, and surgical ligation and stripping.
Non-invasive or minimally invasive techniques in the Canada varicose veins treatment devices market have been found to offer similar effectiveness according to the latest studies. This has propelled the demand for minimally invasive techniques in Canada varicose veins treatment devices market. Moreover, technological advancements in the field of biotechnology and medicine have resulted in the emergence of various novel and efficient minimally invasive procedures such as sclerotherapy as well as endovenous ablation. Emergence of these novel therapies is anticipated to favour the growth in the Canada varicose veins treatment devices market in coming years. Major end users for the products and solutions in the Canada varicose veins treatment devices market include ambulatory health care units, hospitals and clinics, and vein clinics.
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Canada Varicose Vein Treatment Devices Market: Key Trends and Drivers
Increasing cases of varicose veins coupled with rising adoption of endovenous ablation in the nation are two of the key factors driving the demand within the Canada varicose veins treatment devices market. Moreover, increase in the awareness amongst regional population suffering from varicose veins as well as related varicose diseases is also aiding the expansion of the Canada varicose veins treatment devices market. Increasing demand for minimally invasive treatment solutions as well as approvals from Health Canada for sclerotherapies as well as several ablation devices are also motivating the growth of the Canada varicose veins treatment devices market.
Factors such as rising efforts of vaccination, relaxation in social distancing and lockdown restrictions are anticipated to allow clinics and hospitals to resume accepting patients for the treatment of varicose veins in the region. Several vein clinics in Canada have also started providing virtual consultations for patients of varicose veins during the period of COVID-19 pandemic. This trend has been positively affecting the Canada varicose veins treatment devices market. Moreover, resuming of the non-essential medical services across the country is also expected to stimulate more demand in the Canada varicose veins treatment devices market in coming years.
Canada Varicose Vein Treatment Devices Market: Major Players and Manufacturers
Some of the major players and manufacturers operational within the Canada varicose veins treatment devices market include Angiodynamics, Teleflex Incorporated, Biolitec AG, Merit Medical Systems, Boston Scientific Corporation, Medtronic, Sciton, Inc., Dornier Medtech, and Alma Lasers, among others. Players and manufacturers in the Canada varicose veins treatment devices market are applying various strategies such as mergers and acquisitions, new product launches, and strategic partnerships to expand their operations and capture a larger consumer base.
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For example, Boston Scientific Corporation acquired BTG in August of 2019. This move resulted in expansion of the portfolio as well as the inclusion of Varithena. It enabled Boston Scientific Corporation to expand their portfolio of minimally invasive surgical devices. Furthermore, Merit Medical Systems acquired Vascular Insights LLC in December of 2018 which allowed the former to include ClariVein in their product portfolio.
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