According to a recent market survey conducted by ‘Future Market Insights (FMI), the global Endovenous Laser Therapy Market was valued at US$ 378.3 Million in 2021 and is expected to reach US$ 811.0 Million by 2031.
Rise in number of varicose veins cases, availability of technologically advanced laser therapy, shift towards minimally invasive procedures and increasing product launches are the primary factors responsible for the growth of the market during the forecast period.
Varicose veins are more common in pregnant women, partly because the baby puts more pressure on the veins and partly because pregnancy hormones relax vein walls. Damage to a deep leg vein can cause varicose veins to form. Rising cases of varicose veins are expected to drive revenue growth in the endovenous laser systems market over the forecast period.
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Another factor that is having a positive impact on endovenous laser therapy is the rapid change in lifestyle with no physical activity and labour across the globe, as well as the rise in the elderly population, both of which are anticipated to contribute to the global market’s growth over the forecast period. The market is also expected to develop due to the quick and effective technique as well as the growing demand for endovenous laser therapy.Moreover, growing prevalence of obesity worldwide is driving growth of the endovenous laser therapy market. Obesity leads to problems related to blood circulation which leads to varicose veins.
Medical device manufacturers operating in the endovenous laser therapy market are focusing on providing user friendly devices to the end users to minimize chances of manual errors. In addition, continuous launch of new and improved products and increasing investment in research and development by the manufacturers in endovenous laser therapy devices would lead to growth of global market over the forecast period.
Key Takeaways from Endovenous Laser Therapy Market Study
- Endovenous laser systems held the maximum share of 92.0% in 2021 by component, expanding at a rapid rate owing to the rising number of varicose veins cases and increase in number of product launches with advanced features.
- Ambulatory surgical centers showed maximum growth among all end users with a market share of 36.2% in 2021 owing to the rise in demand for outpatient surgeries. In countries such as the U.S., endovenous laser therapy for varicose veins is majorly performed in ambulatory surgical centers rather than hospitals in order avoid long-time waiting in big hospital settings, which is why the segment is developing at a rapid rate
- North America held the largest share of 42.7% of the global endovenous laser therapy market by region in 2021 indicating the growth due to increase in prevalence of obesity and growing number of FDA approvals in North America.
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“Growing prevalence of varicose veins, shift towards minimally invasive procedures, availability of novel laser treatment and increasing number of product launches Is Expected to Drive the Demand for Endovenous Laser Therapy over the Decade,” says the FMI Analyst
Key Companies Profiled:
- AngioDynamics, Inc.
- Syneron Medical Ltd.
- Dornier MedTech GmbH
- Alma Lasers Ltd.
- Alna-Medical system GmbH
- LSO Medical
- Wontech Co., Ltd.
- intros Medical Laser GmbH
- Energist Ltd.
Some of the leading manufacturers of endovenous laser therapy market are focusing on product launches, approvals, collaboration, and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
- In January 2021, Syneron Medical Ltd. announced the availability of the Frax Pro system. The FDA-cleared and CE-marked, non-ablative fractional device is the first platform featuring dual-depth skin resurfacing with both Frax 1550 and the novel Frax 1940 applicators.
- In July 2020, Wontech announced that ‘Picowon’, an alexandrite (755nm)-based pico laser, has obtained US Food and Drug Administration (FDA) approval for the first time in Asia and the second in the world.
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Endovenous laser therapy Market by Category
By Product:
- Endovenous Laser Systems
- Diode Lasers
- Yag Lasers
- Endovenous Laser Fibers
- Bare Tip Laser Fibers
- Radial Tip Laser Fiber
- Gold tip Laser Fiber
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
Explore Wide-ranging Coverage of FMI’s Healthcare Landscape:
- https://fadaako.mn.co/posts/34281352
- https://ledpanellights.mn.co/posts/34281360
- https://waoop.com/read-blog/56409
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