The U.S. varicose vein treatment devices market size is expected to reach USD 706.3 million by 2026, registering a CAGR of 5.5% over the forecast period, according to a new report published by Grand View Research, Inc. High prevalence of varicose veins due to risk factors, such as obesity, pregnancy, sedentary lifestyle, and physical activities like standing for longer durations is expected to drive the market growth. The prevalence of vein diseases is high in population above 60 years at 26%, owing to the factors such as increasing age and development of conditions like hypertension and venous thrombosis. The incidence is lowest in the age group of 0 to 17 at 17% and is majorly due to the risk factors such as genetics, obesity, and lifestyle-related disorders affecting the arteries and veins. Increasing technological advancements due to continuous R&D activities are anticipated to drive the market for varicose vein treatment devices. Many ongoing clinical trials conducted by the key market players study the use of novel systems over traditional treatment methods to gain a competitive edge over the existing devices. This increases competition in the market enhancing the quality of products introduced in the market. For instance, in June 2019, the Lake Washington Vascular Centre conducted a study based on patients with symptomatic varicose veins treated with Venaseal and Endovenous Thermal Ablation. The total expenditure of Americans on combined surgical and nonsurgical cosmetic procedures was USD 13.5 billion in 2015. The percentage of nonsurgical procedures has grown by 44% since 2011 and accounted for 42% of the total expenditure done on cosmetic procedures. These statistics highlight that the market for varicose vein treatment devices is attractive for cosmetics purposes. Further Key Findings from the Report Suggest: • Based on type, sclerotherapy accounted for the largest market share in 2018 • Medicare offers insurance for sclerotherapy procedures for varicose veins, resulting in its high adoption by the healthcare providers and patients • Some of the key players operating in the U.S. varicose vein treatment devices market are Medtronic plc; AngioDynamics, Inc.; Biolitec AG; Lumenis Ltd.; Syneron Medical Ltd.; Energist Group; Eufoton srl; Quanta Systems S.p.A.; and Teleflex, Inc. • In February 2015, Medtronic (then Covidien) received a pre-market approval from the U.S. Food and Drug Administration (FDA) for their new product, VenaSeal closure system-a minimally invasive and uses a medical adhesive to close the damaged vein in patients with vein diseases
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.1.1 Type 1.1.2 Estimates and forecast timeline 1.2 Research Methodology 1.3 Information Procurement 1.3.1 Purchased database 1.3.2 GVR's internal database 1.3.3 Secondary sources 1.3.4 Primary research 1.4 Information or Data Analysis 1.4.1 Data analysis models 1.5 Market Formulation & Validation 1.6 Model Details 1.6.1 Commodity flow analysis (Model 1) 1.6.2 Volume price analysis (model 2) 1.7 List of Secondary Sources 1.8 Objectives 1.8.1 Objective - 1 1.8.2 Objective - 2 Chapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Outlook 2.2.1 Type 2.3 Competitive Insights Chapter 3 Market Variables, Trends & Scope 3.1 Market Segmentation 3.2 Penetration & Growth Prospect Mapping 3.2.1 Penetration analysis 3.3 Market Dynamics 3.3.1 Market driver analysis 188.8.131.52 Growing preference for minimally invasive treatment procedures 184.108.40.206 Introduction of technologically advanced devices 220.127.116.11 Increasing geriatric population 3.3.2 Market restraint analysis 18.104.22.168 High procedural costs and inconsistent reimbursement structure 22.214.171.124 Risk factors associated with varicose veins treatment 3.3.3 Industry opportunity analysis 3.4 U.S. Varicose Vein Treatment Devices Market: Business Environment Analysis Tools 3.4.1 PESTLE analysis 3.4.2 Porter's five forces analysis 3.5 List of Vein Clinics in the U.S. 3.6 Vein Diseases: Patient Population in the U.S. 3.6.1 Number of patients 3.6.2 Female vs. male population 3.6.3 Geriatric vs. adult population 3.7 U.S. Varicose Vein Treatment Devices Market: Reimbursement Scenario 3.8 Varicose Vein Treatment: Recent Trends & Developments 3.8.1 VenaSeal closure system 3.8.2 Varithena 3.9 Varicose Vein Treatment: Ongoing Clinical Trials Chapter 4 U.S. Varicose Vein Treatment Devices Market: Type Analysis 4.1 U.S. Varicose Vein Treatment Devices Type Market Share Analysis, 2018 & 2026 4.2 U.S. Varicose Vein Treatment Devices Type Market: Segment Dashboard: 4.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Type Segment 4.3.1 Endovenous Ablation (EVLA) 126.96.36.199 Endovenous ablation market, 2015 - 2026 (USD Million) 188.8.131.52 Laser Ablation 184.108.40.206.1 Laser ablation market, 2015 - 2026 (USD Million) 220.127.116.11 Radiofrequency Ablation 18.104.22.168.1 Radiofrequency ablation market, 2015 - 2026 (USD Million) 4.3.2 Sclerotherapy 22.214.171.124 Sclerotherapy market, 2015 - 2026 (USD Million) 4.3.3 Surgical Ligation & Stripping 126.96.36.199 Surgical ligation & stripping market, 2015 - 2026 (USD Million) Chapter 5 Competitive Analysis 5.1 Recent Developments & Impact Analysis, by Key Market Participants 5.2 Strategic Framework/ Competition Categorization (Key innovators, Market leaders, emerging players 5.3 Company Market Position Analysis (Geographic Presence, Product Portfolio, Strategic Initiatives, Employee Strength) 5.4 Company Profiles 5.4.1 Medtronic 188.8.131.52 Company overview 184.108.40.206 Financial performance 220.127.116.11 Product benchmarking 18.104.22.168 Strategic initiatives 22.214.171.124 SWOT analysis 5.4.2 AngioDynamics, Inc. 126.96.36.199 Company overview 188.8.131.52 Financial performance 184.108.40.206 Product benchmarking 220.127.116.11 Strategic initiatives 18.104.22.168 SWOT analysis 5.4.3 biolitec AG 22.214.171.124 Company overview 126.96.36.199 Product benchmarking 188.8.131.52 Product benchmarking 5.4.4 Syneron Medical Ltd. 184.108.40.206 Company overview 220.127.116.11 Financial performance 18.104.22.168 Product benchmarking 22.214.171.124 Strategic initiatives 126.96.36.199 SWOT analysis 5.4.5 Lumenis 188.8.131.52 Company overview 184.108.40.206 Financial performance 220.127.116.11 Strategic initiatives 18.104.22.168 SWOT analysis 5.4.6 Energist Ltd. 22.214.171.124 Company overview 126.96.36.199 Product benchmarking 188.8.131.52 Strategic initiatives 5.4.7 Eufoton s.r.l. 184.108.40.206 Company overview 220.127.116.11 Product benchmarking 5.4.8 Teleflex Incorporated 18.104.22.168 Company overview 22.214.171.124 Financial performance 126.96.36.199 Product benchmarking 188.8.131.52 Strategic initiatives 184.108.40.206 SWOT analysis 5.4.9 Quanta System 220.127.116.11 Company overview 18.104.22.168 Product benchmarking 22.214.171.124 Strategic initiatives
List of Tables TABLE 1 List of secondary sources TABLE 2 Sclerotherapy reimbursement codes in the U.S. TABLE 3 Vein clinics in Mid-Atlantic region (U.S.) TABLE 4 Vein clinics in Mid-West region (U.S.) TABLE 5 Vein clinics in North-East region (U.S.) TABLE 6 Vein clinics in North-West region (U.S.) TABLE 7 Vein clinics in South-East region (U.S.) TABLE 8 Vein clinics in South-West region (U.S.) TABLE 9 Reimbursement codes for endovenous ablation TABLE 10 Reimbursement codes for sclerotherapy TABLE 11 Reimbursement codes for stripping and ligation
List of Figures Fig. 1 Market research process Fig. 2 Information procurement Fig. 3 Primary research pattern Fig. 4 Market research approaches Fig. 5 Value chain based sizing & forecasting Fig. 6 QFD modelling for market share assessment Fig. 7 Market formulation & validation Fig. 8 U.S. varicose vein treatment devices market outlook, 2018 Fig. 9 Market trends & outlook Fig. 10 U.S. varicose vein treatment devices market segmentation Fig. 11 Penetration & growth prospect mapping Fig. 12 Market driver relevance analysis (Current & future impact) Fig. 13 Strong preference for non-invasive procedures (In Million) Fig. 14 Expected geriatric population in the U.S., 2012 - 2050 (Million) Fig. 15 Market restraint relevance analysis (Current & future impact) Fig. 16 U.S. varicose vein treatment devices market - PESTLE analysis Fig. 17 U.S. varicose vein treatment devices type market: Porter's five forces model Fig. 18 U.S. varicose vein treatment devices market: Patient population Fig. 19 Varicose vein treatment devices market: Geriatric vs. adult population Fig. 20 U.S. varicose vein treatment devices type market share analysis, 2018 & 2026 Fig. 21 U.S. varicose vein treatment devices type market: Segment dashboard Fig. 22 Endovenous ablation market, 2015 - 2026 (USD Million) Fig. 23 Laser ablation market, 2015 - 2026 (USD Million) Fig. 24 Radio frequency ablation market, 2015 - 2026 (USD Million) Fig. 25 Sclerotherapy market, 2015 - 2026 (USD Million) Fig. 26 Surgical ligation & stripping market, 2014 - 2026 (USD Million) Fig. 27 Company/competition categorization (Key innovators, market leaders, emerging players) Fig. 28 Strategy framework Fig. 29 U.S. varicose vein treatment devices competitive landscape: Market position analysis (based on products, regional presence, and recent updates (2018))
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