Varicose vein closure device is a minimally invasive surgical procedure of varicose vein and is based on radiofrequency (electricity) energy to provide heat and seal the targeted blood vessels of legs using an adhesive agent. The affected varicose vein can result in causing mild pain, skin ulcers, blood clots, skin ulcers, or other problems. In accordance with the National Institute of Health (NIH), if these issues are major, healthcare personnel recommends surgical procedures to close or remove affected veins. Varicose vein closure device is adapted for the patients with superficial varicose veins of legs causing particular symptoms. In general, varicose vein closure device is equipped with adhesive (n-butyl-2-cyanoacrylate), the delivery system including dispenser gun, dispenser tips, syringes, catheter, and guidewire. Varicose vein closure device is used as a single system and is different in accordance with different procedures such as in procedures using drugs, radio waves, or laser in the epidermis to seal or remove veins. Varicose vein closure device is widely adopted in varicose veins treatment as it permanently closes the affected vein with an adhesive, offering patients other treatment option for varicose veins symptoms.
Varicose vein closure device is widely adopted by end use segment. The factors such as increasing prevalence and incidence of varicose veins. As exemplified by the research conducted, approximately more than 40 million individual in the U.S. is suffering from varicose treatment. Furthermore, the prevalence of varicose vein is more in women (55%) as compared to men (45%), and estimated more than 50% of 50 years old population in the U.S. alone is suffering from the varicose vein. However, unfavorable reimbursement scenario reported adverse effects such as acute inflammation, hypersensitivity, paresthesia in some patients can result in hampering the growth of varicose vein closure device.
The global varicose vein closure device market can be segmented on the basis of product type, end-user, and region.
Varicose vein closure device is adopted in surgical procedures to permanently treat varicose vein. Varicose vein closure device is adopted for those patient who have been previously treated with vein stripping. Hereditary factor is a common concern in developing varicose vein, and more than 50% of varicose vein patient has family history, in addition, if both parents have varicose veins, there are 90% chances of developing varicose veins in offspring, thus, driving the growth of the varicose vein closure device. Obesity is another cause of developing varicose veins. For instance, women with BMI 25-29.9 have 50% high risk of developing varicose veins than normal weight women, and women with BMI more than 30, have a three-fold risk of developing varicose vein and can result in gardening the market growth of varicose vein closure device.
Geographically, global varicose vein closure device market can be segmented into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The market in North America is anticipated to show the largest market share for varicose vein closure device, followed by Europe, owing to the high prevalence and incidence rate of varicose vein. In addition, the presence of multiple payer options including governmental (Medicare and Medicaid), and private bodies are also boosting the growth of varicose vein closure device market. The market in Asia-Pacific region is estimated to grow at fastest CAGR over the forecast period owing to the presence of large population base coupled with the large share of the geriatric population and developing healthcare infrastructure countries such as Japan and China. However, the market in Middle East & Africa shows the steady growth during the forecast period.
Some of the market participants in the global varicose vein closure device market are Medtronic plc, and others
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