Latest
industry research report on: Global Endovenous Laser Therapy Market :
Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand,
Growth, Segmentation, Parameters, Forecasts
Endovenous laser systems segment is expected to register high CAGR during the forecast period
Endovenous laser systems segment
is the largest segment amongst the product segments of the global
endovenous laser therapy market, which was estimated to be valued at
more than US$ 200 Mn, or more than 90% share of the total market in
2016. Endovenous laser systems segment is expected to register high
Y-o-Y growth throughout the forecast period. Revenue from this segment
is projected to expand at a CAGR of 7.3% from 2016 to 2026 to reach a
market valuation of more than US$ 500 Mn by 2026. Endovenous laser
systems segment is estimated to record absolute $ opportunity of close
to US$ 20 Mn in 2017 over 2016. This segment is expected to be a
lucrative segment in the global endovenous laser therapy market over the
forecast period owing to the high adoption of endovenous laser systems
across the globe to treat varicose veins. This segment dominated the
global endovenous laser therapy market in revenue terms in 2015 and the
trend is projected to continue throughout the forecast period.
Rising
cases of varicose veins expected to positively impact revenue growth of
the endovenous laser systems segment over the forecast period
Rising
number of patients with varicose veins globally is driving the growth
of the endovenous laser systems segment. Varicose veins are more
prominent in female patients as compared to male patients. Besides,
increasing cases of varicose veins due to an ageing population is a
common problem across the globe. Change in lifestyle with no physical
activity can also lead to varicose veins. Pregnant women are at high
risk of varicose veins due to the baby causing increased pressure on the
veins and partly due to hormones produced during pregnancy that tend to
relax vein walls. Sometimes injury caused in a deep leg vein may also
lead to varicose veins. Increasing cases of patients affected by
varicose veins are expected to fuel revenue growth of the endovenous
laser systems segment over the forecast period. Another factor creating a
positive impact on the endovenous laser systems segment is the fast and
effective procedure provided by endovenous laser therapy to treat
varicose veins as compared to traditional vein surgery. The procedure
requires local anaesthesia and results in minimal discomfort. The
success rate of the therapy is also high. Growing demand for endovenous
laser therapy is boosting the adoption of endovenous laser systems,
thereby fuelling segmental revenue growth.
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Medical
device manufacturers operating in the global endovenous laser therapy
market are focussing on providing user-friendly devices to end users for
minimising chances of manual errors. Devices with features like faster
procedure setup, intuitive user interface with fewer buttons and
portable devices are being manufactured by companies operating in this
market to attract a larger customer base. Features like data storage,
compatibility with patient Data Management Software to manage records
are also being offered in these devices. This is expected to fuel
adoption and subsequently revenue growth of the endovenous laser systems
segment.
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Endovenous
laser systems segment anticipated to be the most attractive product
type segment in the North America endovenous laser therapy market
Endovenous
laser systems segment is the most attractive segment in the North
America endovenous laser therapy market, recording a market
attractiveness index of 1.9 during the forecast period. Increasing
prevalence of obesity in North America is expected to primarily impact
revenue growth of the endovenous laser systems segment over the forecast
period. The surge in demand for varicose veins treatment procedures
owing to increasing number of patients suffering from varicose veins in
China is anticipated to result in increasing adoption of endovenous
laser systems in China, thereby adding to the market attractiveness of
this segment in the country and subsequently in the APEJ region.
Increasing
availability of technologically advanced products especially in
developed countries is expected to fuel the endovenous laser systems
segment revenue in the Western Europe endovenous laser therapy market
over the forecast period. In Eastern Europe, Russia is predicted to
experience a high growth rate as compared to other countries owing to
government initiatives for meditec progress in the country.
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