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Varicose Vein Treatment Expected to Grow Significantly by 2024

by Jane Meggitt

Within the next six years, the varicose vein treatment market is expected to grow by more than 7 percent. That’s a global projection, as the demand for such treatment and the spread of new varicose vein treatment methods grows worldwide. Varicose veins occur in all peoples, and while much of the growth centers on the cosmetic market, substantial growth is also expected in those experiencing pain and circulatory problems resulting from varicose veins.

Market Domination

North America currently leads the market for varicose vein treatment and that is not expected to change in the next several years. In 2016, more than $250 million was spent on varicose vein treatment in the United States alone. While varicose vein treatment is common in South America, Europe and Asia, market demand is expected to grow in Russia, India, China and the Middle East.

Factors Driving Growth

What’s driving the projected growth in varicose vein treatment? The primary factor is demographics. Varicose veins occur most often in older people, and the geriatric population is growing. There’s also an array of new techniques and advancements making varicose vein treatment less invasive with fewer risk factors.

Market Segmentation

Growth in varicose vein treatment is expected to focus on three segments of the treatment market. These are:

  • Endovenous ablation – this methodology uses lasers or radiofrequency to close varicose veins. Besides the relative ease of treatment compared to conventional surgery, endovenous ablation does not result in scarring. The laser or radiofrequency application heats up the vein, causing it to close. Endovenous ablation is generally performed on an outpatient basis and the patient goes home after the procedure.
  • Injection sclerotherapy – this treatment involves injection of a solution into a vein, which causes it to collapse. The injection generally consists of a salt solution, which irritates the vein. Sclerotherapy is available for varicose and spider vein eradication.
  • Surgical ligation – also known as vein stripping, this procedure may require general anesthesia, unlike the other methodologies. The vein is surgically removed from the body. Most patients require an overnight stay in the hospital for vein stripping, although the operation is sometimes done on an outpatient basis.

The fact that surgical ligation is expected to grow significantly points to a rise in the population of those with chronic venous insufficiency and other serious vein-related diseases. This growth made coincide with the considerable expansion of varicose vein treatment outside Western countries.

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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