Global Varicose Vein Treatment Device Market Overview:
Varicose veins are the twisted dark or purple colored veins present in legs and feet. This condition results in pain, frequent itching, and discomfort. Varicose Vein results into ulcers, Vein bleeding, the formation of blood clots. Treatment of Varicose Vein includes wearing of compression stocking, but in severe condition, sclerotherapy, laser surgeries, and catheter including procedure. Various treatment devices are also used by surgeons. Further, the rapid growth of Varicose vein treatment device market can be attributed to a number of factors such as advanced health care infrastructure, changing lifestyle, increasing health care awareness, increasing government spending is expected driving the market in the forecast period. According to AMA, the Global Varicose Vein Treatment Device market is expected to see growth rate of 6.76%
Market Drivers
- Increasing Demand for less Invasive Treatment Methods
- Rising Geriatric Population Suffering From Varicose Vein Disease
- Increasing Patient Awareness Regarding the Treatment
Market Trend
- Owing To a Huge Patient Population Suffering From Varicose Veins.
Restraints
- High Cost of Treatment for Varicose Vein Treatment may hamper the Market Growth
Opportunities
- Increasing Investment by the Government in Treating Disease like Varicose Vein
Challenges
- Lack of Skilled Vascular Surgeons is posing a Challenge for the Market
- Inconsistent Reimbursement Structure Policy
Competitive Landscape:
Some of the key players profiled in the report are Medtronic plc (Ireland), AngioDynamics, Inc. (United States), Biolitec AG (Austria), Syneron Medical Ltd. (Israel), Lumenis Ltd. (Israel), Dornier MedTech GmbH (Germany), Energist Group (United Kingdom) and Vascular Solutions, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Quanta System S.p.A. (Italy), Sciton, Inc. (United States), Fotona d.o.o. (Slovenia), BTG plc (United Kingdom) and Merz Aesthetics (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Varicose Vein Treatment Device market by 2024. Considering Market by Treatment, the sub-segment i.e. Laser Varicose Vein Treatment will boost the Varicose Vein Treatment Device market. Considering Market by Treatment Methods, the sub-segment i.e. VenaSeal Closure System will boost the Varicose Vein Treatment Device market.
Market Highlights:
In February 2017, Teleflex acquired Vascular Solutions, Inc. for about USD 1 billion. This acquisition was expected to boost the vascular and interventional access product portfolios of the former through additional revenue associated with the peripheral and coronary vascular market of Vascular Solutions.
In February 2015, the Food and Drug Administration (FDA) reviewed data for the premarket approval of the VenaSeal system. The FDA approval for the VenaSeal system included from the analysis of results from three clinical studies. Medtronic announced that new CPT codes may aid in getting positive coverage for its VenaSeal closure device from the public and private insurers in the United States in November 2017.
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Varicose Vein Treatment Device market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Varicose Vein Treatment Device market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Varicose Vein Treatment Device Manufacturers, Industry Association, Downstream Vendors, Marketing & Consulting Firms, Venture Capitalists, Government & Regulatory Bodies and Traders/Suppliers & Distributors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.