The global endovenous laser therapy market is poised for remarkable expansion, marking a transformative shift in the treatment of vascular conditions. According to a recent survey conducted by Future Market Insights (FMI), the market, valued at USD 407.6 million in 2022, is projected to nearly double, reaching USD 811.0 million by 2031, with a notable Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period.
Endovenous laser therapy, recognized for its effectiveness in addressing vascular disorders, is witnessing a growing global adoption rate. This surge in popularity is attributed to the therapy’s proven efficacy, increasing trust from healthcare professionals, and positive outcomes for patients.
Key Drivers of Market Expansion:
- Technological Advancements: Continuous innovation in EVLT technology is enhancing treatment precision and improving patient outcomes, positioning EVLT as a leading alternative to traditional surgical methods.
- Rising Prevalence of Varicose Veins: The increasing global incidence of varicose veins is fueling the demand for minimally invasive treatments like EVLT, which offers quicker recovery times and less discomfort compared to conventional surgeries.
- Shift Towards Minimally Invasive Procedures: With healthcare trends favoring less invasive treatment options, EVLT has emerged as a preferred choice for patients seeking effective yet minimally invasive alternatives to traditional vascular surgery.
Regional Insights:
North America and Europe are leading the adoption of EVLT. North America held the largest market share at 42.7% in 2021, driven by rising rates of obesity and an increase in FDA approvals for new treatment technologies. Meanwhile, Europe benefits from a robust healthcare infrastructure and favorable reimbursement policies that support the widespread use of minimally invasive procedures like EVLT.
As the endovenous laser therapy market continues its upward trajectory, both patients and healthcare providers can look forward to a future filled with innovative, effective, and patient-friendly treatment options. With ongoing advancements in technology and increasing global acceptance of EVLT, the therapy is cementing its role as a cornerstone of modern vascular care.
“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.
Competitive Landscape:
The endovenous laser therapy market is highly fragmented, with numerous global and local competitors. These companies engage in various strategic alliances to strengthen their market position. Key strategies include product launches, FDA approvals, and acquisitions, all aimed at expanding market share.
Recent developments in the industry include:
- In June 2021, AngioDynamics, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the AlphaVac Mechanical Thrombectomy System, a multi-purpose device designed for non-surgical thrombi or emboli removal from the vasculature.
- In November 2018, Alma completed the first phase of acquiring Nova Medical, its Israeli distributor, expanding its operations and establishing a direct presence in Israel.
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.
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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa (MEA)
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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