Varicose Vein Treatment Market: Increase in Awareness and Rise in Prevalence of Varicose Vein is a major key driver
Endovenous Cyanoacrylate Glue and Polidocanol Injectable Foam Gain Popularity as Minimally-invasive Treatment Options
The varicose vein treatment market is anticipated to grow with the introduction of endovenous cyanoacrylate glue. For instance, a leading medical technology company - Medtronic - announced the launch of the VenaSeal closure system in India, which uses endovenous cyanoacrylate glue to seal off varicose veins. The procedure involving endovenous cyanoacrylate glue is increasingly gaining popularity as a minimally-invasive treatment option for patients in the varicose vein treatment space.
On the other hand, FDA-approved polidocanol injectable foam is being used by healthcare providers in the varicose vein treatment market space to diagnose the greater saphenous varicose vein condition in patients. As such, healthcare industries in the varicose vein treatment market are targeting treatment options for greater saphenous varicose veins, since the disease accounts for the highest revenue amongst all diseases in this landscape. Revenue of the greater saphenous varicose veins disease segment is predicted for exponential growth, with an estimated value of ~US$ 1 billion by the end of 2024. Healthcare providers are recommending polidocanol injectable foam for various varicose vein treatments, since it is a nonsurgical procedure.
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Availability of Innovative Therapies Triggers Growth for Varicose Vein Treatment Market
The ClariVein® device is an important addition to the list of minimally-invasive treatment options in the varicose vein treatment ecosystem. This specialty infusion catheter is found to improve patient quality of life, owing to minimum recovery and maximum results. Thus, manufacturers should develop improved versions similar to ClariVein® to stay relevant in the varicose vein treatment market. This device adds convenience for patients since it is fully-disposable and can be easily used in an office setting.
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Another device that is providing relief for challenging varicose vein health conditions is Sonovein®. In April 2019, Theraclion - a provider of HIFU (high-intensity focused ultrasound) technology devices, revealed that the company obtained the CE mark for the Sonovein® device, suitable for ultrasound therapy of the varicose veins. Thus, manufacturers in the varicose vein treatment landscape should innovate devices built with high-intensity ultrasound beams to contribute to more minimally-invasive treatment options.
Endovenous Ablasion and Sclerotherapy Propagate Incremental Opportunities for Healthcare Industries
The condition of varicose veins is being commonly found in many individuals. Growing incidence of this health condition has opened up opportunities for companies in the varicose vein treatment market to offer a variety of efficacious treatment options.
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Endothermal ablasion or endovenous laser treatment is being increasingly pursued as a minimally-invasive therapy for varicose vein patients. This trend is anticipated to contribute for pervasive revenue growth of endovenous ablasion amongst all treatment options in the varicose vein treatment market, with a projected revenue of ~US$ 800 million by the end of 2027. Healthcare providers are increasingly recommending endovenous ablation as the first line of treatment for varicose veins.
On the other hand, ultrasound-guided foam sclerotherapy is being increasingly adopted by healthcare providers in the varicose vein treatment landscape. Companies are increasing research efforts to develop improved formulations of foam, since foam acts as a suitable alternative to liquid. This treatment is generating incremental opportunities for healthcare industries, since sclerotherapy is associated with better outcomes and fewer complications amongst patients.
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Proper Compression in Products Aid Increased Adoption Post Invasive Treatment
Companies in the varicose vein treatment space are increasing their production capabilities to manufacture compression garments and devices. As such, compression garments and devices are anticipated to enjoy the highest revenue amongst all products in the varicose vein treatment market, with a value projection of ~US$ 1.1 billion by 2027. This is why healthcare industries are steering innovation toward the development of various compression products such as compression bandages, self-adjustable Velcro devices, compression stockings, and hybrid devices. Healthcare providers are increasingly recommending the use of compression products after varicose vein intervention.
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Compression therapy is serving as an efficacious solution for patients post invasive treatment of superficial veins. However, in many cases, it has been found that, patients report difficulties during the donning and doffing of compression stockings. Concerns with hygiene also restrain the adoption of compression products. To overcome these limitations, companies in the varicose vein treatment market are increasing R&D to develop devices and garments with proper compression that help reduce the incidence of pain associated with their usage.
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