The global endovenous laser therapy market, valued at USD 407.6 million in 2022, is poised for remarkable expansion, with projections indicating a rise to USD 811.0 million by 2031. This significant growth reflects a Compound Annual Growth Rate (CAGR) of 7.9% over the forecast period, according to a recent survey by Future Market Insights (FMI).
Endovenous laser therapy, renowned for its efficacy in treating vascular conditions, is increasingly gaining traction worldwide. The therapy’s growing adoption underscores its effectiveness and the rising confidence it inspires among both healthcare professionals and patients.
Key Drivers of Market Expansion:
- Technological Advancements: The market’s growth is propelled by continuous technological innovations that enhance treatment precision and improve patient outcomes. These advancements have solidified endovenous laser therapy as a preferred alternative to traditional surgical methods.
- Increasing Prevalence of Varicose Veins: The growing prevalence of varicose veins globally is a key factor driving demand for minimally invasive treatment options like EVLT.
- Shift Towards Minimally Invasive Procedures: There is a notable shift towards less invasive treatments, with EVLT emerging as a leading choice for those seeking effective and efficient alternatives.
- Regional Insights: North America and Europe are leading the way in the adoption of endovenous laser therapy. North America held the largest share of 42.7% of the market in 2021, driven by the rising prevalence of obesity and a surge in FDA approvals. Europe follows closely, supported by robust healthcare infrastructure and favorable reimbursement policies.
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.
Discover Market Trends: Access the Full Endovenous Laser Therapy Market Report
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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