The global endovenous laser therapy market is poised for substantial growth, reflecting a transformative shift in the treatment of vascular conditions. Valued at USD 407.6 million in 2022, the market is projected to reach USD 811.0 million by 2031, representing a robust Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. This optimistic outlook is based on the latest survey conducted by Future Market Insights (FMI).
Endovenous laser therapy, known for its efficacy in addressing vascular disorders, is witnessing increased adoption worldwide. This surge in popularity is attributed to the therapy’s effectiveness, the growing confidence it instills among healthcare professionals, and its favorable outcomes for patients.
Key Drivers of Market Expansion:
- Technological Advancements: The market’s expansion is fueled by continuous innovations that enhance treatment precision and improve patient results. These advancements have cemented endovenous laser therapy as a leading alternative to traditional surgical methods.
- Increasing Prevalence of Varicose Veins: The global rise in the prevalence of varicose veins is significantly driving the demand for minimally invasive treatment options like EVLT.
- Shift Towards Minimally Invasive Procedures: There is a clear trend towards less invasive treatments, with EVLT emerging as a preferred choice for patients seeking effective and efficient alternatives to traditional surgeries.
- Regional Insights: North America and Europe are at the forefront of adopting endovenous laser therapy. North America commanded the largest market share of 42.7% in 2021, driven by rising obesity rates and a surge in FDA approvals. Europe follows closely, supported by a strong healthcare infrastructure and favorable reimbursement policies.
As the endovenous laser therapy market continues to evolve, it underscores a promising future for both patients and healthcare providers. The ongoing advancements and growing acceptance of EVLT highlight its pivotal role in modern vascular care.
Market Insights:
- Endovenous Laser Systems: Dominating the market with a 92.0% share in 2021, endovenous laser systems are expanding rapidly due to the increasing number of varicose vein cases and new product launches featuring advanced technologies.
- Ambulatory Surgical Centers: This segment showed the highest growth, capturing a 36.2% market share in 2021. The preference for outpatient surgeries, particularly in countries like the U.S., where EVLT is commonly performed in ambulatory settings, is fueling this growth.
Expert Opinion:
“Growing prevalence of varicose veins, a shift towards minimally invasive procedures, the availability of novel laser treatments, and an increasing number of product launches are expected to drive the demand for endovenous laser therapy over the next decade,” said Sabyasachi Ghosh, Associate Vice President at Future Market Insights, Inc.
Key Companies to Watch:
- 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.
Leading manufacturers are focusing on strategic initiatives such as product launches, approvals, and partnerships to expand their global market presence. For instance:
- In January 2021, Syneron Medical Ltd. launched the FDA-cleared Frax Pro system, featuring dual-depth skin resurfacing capabilities.
- In July 2020, Wontech’s Picowon, an alexandrite-based pico laser, received FDA approval, marking a significant milestone in global laser technology.
Market Segmentation:
- By Product: Endovenous Laser Systems, Diode Lasers, Yag Lasers, Endovenous Laser Fibers (Bare Tip, Radial Tip, Gold Tip)
- By End User: Hospitals, Ambulatory Surgical Centers, Specialized Clinics
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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