Endovenous laser therapy (ELT)
closes and shrinks the varicose vein and causes scar tissue within the vessel
in order to seals off the vein and promote blood flow through other nearby
veins.
The global Endovenous
Laser Therapy Market is estimated to account for US$ 329.3 Mn in terms of
value and is estimated to reach US$ 591.1 Mn by the end of 2027.
Global Endovenous Laser Therapy
Market: Drivers
Increasing adoption of endovenous
laser ablation therapy is expected to propel growth of the global endovenous
laser therapy market over the forecast period. Endovenous laser ablation
therapy is a minimally invasive procedure that makes use of catheters, lasers,
and ultrasound to treatment of varicose veins. The procedure requires less time
(around an hour) and one small incision. Moreover, the recovery time of patient
is also low. These advantages boost adoption of endovenous laser ablation
therapy, thereby propelling growth of the market.
Global Endovenous Laser Therapy
Market: Opportunities
Increasing prevalence of obesity
is expected to offer lucrative growth opportunities for players in the global
endovenous laser therapy market as the condition is a high risk factor for
varicose veins. For instance, according to MedAlertHelp.org, over 1.9 billion
adults were reported as overweight worldwide.
Global Endovenous Laser Therapy
Market: Restraints
Unfavourable reimbursement
scenario in some economies is expected to hinder growth of the global
endovenous laser therapy market. For instance, in France, only radiofrequency
is reimbursed and not endovenous laser ablation therapy.
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Key Takeaways:
The diode lasers segment in the
global endovenous laser therapy market was valued at US$ 201.3 Mn in 2018 and
is expected to reach US$ 394.9 Mn by 2027 at a CAGR of 7.6% during the forecast
period. Diode lasers are used in several endovenous laser systems which is
supporting growth of the segment. For instance, VenaCure EVLT 1470 Pro
manufactured by AngioDynamics uses high-performing diode laser
The ambulatory surgical centers
segment held dominant position in the global endovenous laser therapy market in
2018, accounting for 35.7% share in terms of value, followed by hospitals and
specialized clinics, respectively.
Ambulatory surgical centers
perform outdoor patient surgeries for which overnight patient admission is not
necessary. These type of centers save time as well as costs which is expected
to support growth of the segment over the forecast period.
The North America region held
dominant position in the global endovenous laser therapy market in 2018,
accounting for 42.4% share in terms of value, followed by Europe and Asia
Pacific, respectively.
Factors such as presence of key
players in the region, and product launches is expected to support growth of
the region over the forecast period. For instance, AngioDynamics, a provider of
endovenous laser therapy products is based in the U.S.
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Market Trends
In countries such as the U.S.,
endovenous laser therapy for varicose veins is majorly performed in clinics
rather than hospitals in order avoid long-time waiting in big hospital
settings, which is why physicians are rapidly adopting laser therapy systems.
In Denmark, prior authorization
for using endovenous laser ablation is not required and all patients are
covered through state health insurance.
Global Endovenous Laser Therapy
Market: Competitive Landscape
Major players operating in the
global endovenous laser therapy market include, AngioDynamics, Inc., Candela
Corporation, Dornier MedTech GmbH, Alma Lasers Ltd., Alna-Medicalsystem GmbH,
LSO Medical, Wontech Co., Ltd., Intros Medical Laser GmbH, and Energist Ltd.
Global Endovenous Laser Therapy
Market: Key Developments
October 2019: AngioDynamics, Inc.
acquired Eximo Medical, Ltd., an early commercial stage, medical device
company, and its proprietary 355nm wavelength laser-technology platform
May 2019: Candela Corporation
partnered with The Vascular Birthmarks Foundation and E.V.A. Clinic to provide
pro-bono laser treatments
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