Report Overview

The increasing prevalence of varicose veins and technological advancements in varicose vein treatment are expected to boost the growth of the North America varicose veins treatment market during the forecast period between 2023 and 2029.

North America Varicose Veins Treatment Market - Industry Trends & Forecast Report, 2029

North America varicose veins treatment market size was estimated to be worth USD 376.2 million in 2022. During the forecast period between 2023 and 2029, the North America varicose veins treatment market size is projected to grow at a CAGR of 11.20%, reaching a value of USD 790.96 million by 2029. Major growth factors for the North America varicose veins treatment market include the rising prevalence of varicose veins and various technological advancements and availability of innovative therapies. Furthermore, high healthcare expenditure in the region and growth in geriatric population is anticipated to register a high growth rate during the forecast period.

North America Varicose Veins Treatment Market – Overview

Varicose veins are anomalous, dilated blood vessels brought on by the vessel walls deteriorating. These veins under the skin seemed to be a twisted, bloated cluster of blue or purple veins. Technically, there is no medically accepted treatment for varicose veins. The entire vein is collapsed and blood is diverted to another vein instead of treating a varicose vein. The vein is still present; it is only inactive. In certain cases, the injured vein may be removed by the physicians.

North America Varicose Veins Treatment Market

Growth Drivers

Extensive Research and Development Towards Varicose Vein Treatment

Varicose veins are becoming more common in North America, thus medical firms and research institutes are expanding their research and development efforts to provide more effective and widely available treatment options. For instance, the VEINRESET multicenter pivotal trial, which will assess Sonovein's high-intensity focused ultrasound (HIFU) therapy for varicose veins, has received FDA approval for an experimental device exemption (IDE) application. The US Food and Drug Administration (FDA) has approved VVT Medical's ScleroSafe platform for the treatment of varicose veins. VVT Medical is a global manufacturer of medical devices.

Restraints

High Cost of Varicose Vein Treatment Procedures

For severe conditions of varicose veins, many treatments might equal several USD 1,000. Varithena foam injection, which may cost between USD 2,000 and USD 3,000, and ClosureFast Radiofrequency Ablation (RFA), which may cost between USD 3,000 and USD 5,000, are two of the most expensive treatment methods. The quantity and size of the veins that need to be treated also affect the price. As a result, the market for varicose vein therapy in North America is severely constrained by the high cost and the absence of adequate reimbursement policies.

North America Varicose Veins Treatment Market

Segmental Coverage

North America Varicose Veins Treatment Market – By Product

Based on product, the North America varicose veins treatment market is segmented into ablation devices, venous closure products, and surgical products. The ablation device segment holds the highest share in the North America varicose veins treatment market. The segment is further classified into radiofrequency ablation devices and laser ablation devices. The radiofrequency ablation devices segment accounts for the highest market share and is projected to register highest growth rate during the forecast period as well.

North America Varicose Veins Treatment Market – By Treatment Mode

Based on treatment mode, the North America varicose veins treatment market is segmented into endovenous ablation, injection sclerotherapy, and surgical ligation/stripping. The surgical ligation/stripping segment accounts for the highest share in the market. The Hopkins Medicine statea that surgical ligation surgeries close and shrinks off the varicose veins. The vein is then sealed off and the blood then travels via neighboring veins in its place. It is a minor surgery which improves blood flow and mitigates symptoms like pain and swellings, which influences its growing demand in the market.

North America Varicose Veins Treatment Market – By Country

The North America varicose veins treatment market covers the two countries in the region: United States and Canada. The United States dominates the North America varicose veins treatment market. Approximately 23% of US individuals have varicose veins, according to a paper published in AHA publications. When reticular veins and spider telangiectasias are considered, the frequency rises to 85% in women and 80% in males. The high healthcare expenditure and accessibility of medical facilities in both the United States and Canada play a crucial factor in propelling the growth of the North America varicose veins treatment market.

Competitive Landscape

Major players operating in North America varicose veins treatment market include AngioDynamics, Inc., Vascular Solutions, Inc., Sciton, Inc., Merz Aesthetics, Candela Medical, Teleflex Incorporated, Sciton Inc., Merit Medical Systems, and Boston Scientific Corporation.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Products

• Ablation Devices

1. Radiofrequency Ablation Devices

2. Laser Ablation Devices

• Venous Closure Products

• Surgical Products

By Treatment Mode

• Endovenous Ablation

• Injection Sclerotherapy

• Surgical Ligation/Stripping

By Country

• United States

• Canada