Global Endovenous Laser Therapy Market, By Product Type (Endovenous Laser Systems, Endovenous Laser Fibers), End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics) - Industry Trends and Forecast to 2030.
Endovenous Laser Therapy Market Analysis and Size
In order to reduce the risk of manual errors, medical device manufacturers in the endovenous laser treatment market are focusing on offering end users with user-friendly products. Furthermore, the global market for endovenous laser therapy devices will rise as manufacturers continue to introduce new and improved products and invest more in research and development. Improved healthcare services, medical diagnostic and pathological laboratories, private-public collaborations, and the health insurance sector are projected to drive this expansion. Furthermore, there is an increase in societal health awareness, as well as an increase in the burden of cardiovascular diseases and varicose veins disease.
Data Bridge Market Research analyses that the endovenous laser therapy market which was USD 422.16 million in 2022, expected to reach USD 841.17 million by 2030, and is expected to undergo a CAGR of 9.0% during the forecast period 2023-2030. This indicates that the market value. “endovenous laser systems” dominates the product type segment of the endovenous laser therapy market owing increasing technological advancement in addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Endovenous Laser Therapy Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Endovenous Laser Systems, Endovenous Laser Fibers), End User (Hospitals, Ambulatory Surgical Centers, Specialized Clinics)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AngioDynamics (U.S.), Dornier MedTech GmBh (Germany), Alma Lasers (Israel), WON TECH Co., Ltd. (Korea), intros Medical Laser GmbH (Germany), biolitec AG (Germany), EUFOTON S.R.L (Italy), Teleflex Incorporated (U.S.), and LSO Medical (France)
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Market Opportunities
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Market Definition
Endovenous laser treatment (ELT) is a varicose vein treatment that uses a minimally invasive ultrasound-guided approach. Endovenous thermal ablation (EVTA) using radiofrequency or laser to treat refluxing great saphenous veins is a safe and successful procedure.
Endovenous Laser Therapy Market Dynamics
Drivers
- Minimally Invasive Nature
EVLT is a minimally invasive procedure that can be performed on an outpatient basis. It does not require a surgical incision, and the procedure is typically performed under local anesthesia. The minimally invasive nature of EVLT makes it an attractive option for patients, as it reduces the risks and complications associated with traditional vein stripping surgery.
- High Success Rate
Endovenous Laser Therapy has shown a high success rate in treating varicose veins. Studies have demonstrated that EVLT achieves vein closure in approximately 90% of cases, resulting in symptom relief and improved cosmetic appearance. The effectiveness of the treatment has contributed to its widespread adoption.
- Faster Recovery Time
Compared to traditional vein stripping surgery, EVLT offers a faster recovery time. Since it is minimally invasive, patients can typically resume normal activities within a short period after the procedure. The shorter recovery time is appealing to patients who wish to minimize disruption to their daily routines
Opportunities
- Minimally Invasive Alternative
EVLT offers a less invasive alternative to traditional surgical treatments for varicose veins. This presents an opportunity to reduce the need for more extensive surgical procedures, which typically involve higher risks, longer recovery times, and increased costs. EVLT can be performed on an outpatient basis, allowing for quicker procedures and faster patient recovery.
- Improved Patient Experience
The minimally invasive nature of EVLT contributes to an improved patient experience. Patients undergoing EVLT generally experience less pain, discomfort, and scarring compared to traditional vein stripping surgery. This can lead to higher patient satisfaction and compliance with the treatment.
Restraints/Challenges
- Limited Effectiveness for Certain Vein Types
EVLT is most effective for treating straight, larger veins with a consistent diameter. It may not be as effective for veins with a tortuous or winding course, or for smaller veins. In such cases, alternative treatment options like sclerotherapy or surgical procedures may be more suitable.
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Procedural Complexity
While EVLT is generally considered a minimally invasive procedure, it requires technical expertise and specialized training. Physicians performing EVLT need to have a good understanding of the anatomy of the veins, laser settings, and potential complications. The complexity of the procedure can limit its availability to certain healthcare facilities or regions with access to experienced practitioners.
The global endovenous laser therapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on global endovenous laser therapy market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In January, 2021, The Frax ProTM system has been made available by Syneron Medical Ltd. The non-ablative fractional device, which is FDA-approved and CE-marked, is the first to offer dual-depth skin resurfacing with both Frax 1550TM and the revolutionary Frax 1940TM applicators
Global Endovenous Laser Therapy Market Scope
The global endovenous laser therapy market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Endovenous Laser Systems
- Endovenous Laser Fibers
End User
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
Endovenous Laser Therapy Market Regional Analysis/Insights
The global endovenous laser therapy market is analysed and market size insights and trends are provided by country, product type, and end user as referenced above.
The countries covered in the endovenous laser therapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the global endovenous laser therapy market because of the strong base of healthcare facilities, strong presence of major players in the market, and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The global endovenous laser therapy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for endovenous laser therapy market, impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the endovenous laser therapy market. The data is available for historic period 2015-2020.
Competitive Landscape and Endovenous Laser Therapy Market Share Analysis
The global endovenous laser therapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global endovenous laser therapy market.
Some of the major players operating in the global endovenous laser therapy market is:
- AngioDynamics (U.S.)
- Dornier MedTech GmBh (Germany)
- Alma Lasers (Israel)
- WON TECH Co., Ltd. (Korea)
- intros Medical Laser GmbH (Germany)
- biolitec AG (Germany)
- EUFOTON S.R.L (Italy)
- Teleflex Incorporated (U.S.)
- LSO Medical (France)
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