Varicose veins are one of the most common medical issues in the United States and around the world. According to some studies, upwards of 60% of the adult population suffers from the condition, which means that hundreds of millions of people across the globe are going to seek treatment at some point in their lives.
Given those statistics, the results of a new report by Grand View Research Inc. shouldn't come as a big surprise. In this new study, which is available now, researchers estimate that the market for varicose vein-related treatments is poised to swell to roughly $475 by the year 2024. So what are the biggest drivers of this market growth? According to the study, several factors are at work here.
For starters, the aging global population is poised to drive up demand in the coming years. In the United States alone, the Baby Boomer generation is reaching the age where they are most at risk for developing varicose veins and other problems related to venous insufficiency. Therefore, the number of potential patients is likely to skyrocket in the next decade.
Also contributing to the growing market is the ever-expanding selection of procedures to battle varicose veins. In the coming years, with these procedures becoming more widely available, the market will naturally increase. And when you add in the fact that there is no significant reduction in the lifestyle disorders that can lead to the formation of varicose veins, such as obesity and sedentary living, the patient pool is only going to increase.
In projecting what the treatment market for varicose veins will look like in the future, it's important to take a close look at the current trends. For the last few years, minimally invasive procedures have been the name of the game when it comes to treating varicose veins.
According to the study, sclerotherapy was the most popular treatment for varicose veins last year. In general, patients tend to prefer this technique due to its overall effectiveness, minimal incision requirement, quick recovery time, low risk for complications and its comparatively low price point. Similarly, patients have also been opting to undergo endovenous ablation therapy for the same reasons, and both patients and doctors report being satisfied with the results.
The Grand View Research Inc report suggests that these trends are likely to continue in the coming years. So as treatment techniques continue to improve and procedures become less taxing for patients, you're likely going to see an overall increase in demand. To be sure, all of the data regarding varicose vein treatment seems to be pointing in the same positive direction, and there's nowhere to go but up.
If you or someone you know would like to learn more about vein treatment, please feel free to schedule a consultation or contact one of our representatives today!
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