Canada Varicose Vein Treatment Devices Market 2021 - 2028: Increasing Demand for Minimally Invasive Surgeries - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 22, 2021--
The “Canada Varicose Vein Treatment Devices Market Size, Share & Trends Analysis Report By Type (Endovenous Ablation, Sclerotherapy), By End Use (Ambulatory Care Unit, Hospitals, Vein Clinics), By Region, And Segment Forecasts, 2021 - 2028” report has been added to ResearchAndMarkets.com’s offering.
The Canada varicose vein treatment devices market size is expected to reach USD 77 million by 2028, registering a CAGR of 6.6% over the forecast period.
The high prevalence of varicose veins due to risk factors, such as pregnancy, sedentary lifestyle, obesity, and physical activities like standing for longer durations is expected to drive the market growth.
Hypertension is one of the main risk factors for varicose veins. In Canada, conditions like hypertension are rising, with 22% of adults having hypertension issues.
Furthermore, the aging population is increasing significantly in Canada. With a rise in the geriatric population, cases of varicose veins are anticipated to increase as they are at a higher risk. Overall, 26% of adults in Canada have varicose veins as per the Canadian Society of Vascular Surgery, signifying high disease prevalence, thereby favoring the market growth.
However, the COVID-19 pandemic has negatively impacted the market as all non-urgent elective procedures, including varicose veins treatment surgeries, were postponed.
Manufacturers operating in the market witnessed a decline in their revenues. The public healthcare system of Canada emphasizes more on conservative management of varicose veins rather than surgical procedures.
Canada Varicose Vein Treatment Devices Market Report Highlights
- Canada has been witnessing a surge in the number of varicose veins cases in recent years
- According to the Canadian Society of Vascular Surgery, around 50% of people with varicose veins are aged 50 years and above
- Overall, 3.7 million people in Canada suffer from varicose veins and women are at a higher risk than men
- The sclerotherapy type segment accounted for the largest market share in 2020
- The growth is credited to the high adoption of this treatment due to the advantages, such as no need for anesthesia, no scarring, simple follow-up treatments, and no need for hospital admission
- The endovenous ablation segment is anticipated to witness the fastest CAGR over the forecast period as this treatment is preferred over conventional procedures, such as surgical stripping and ligation
- The hospital end-use segment held a major share of the market in 2020 owing to the well-established healthcare infrastructure in Canada
- Product development, supply agreements with hospitals & clinics, and acquisitions are some of the strategic initiatives being undertaken by key market players to gain a higher market share
Key Topics Covered:
Market Variables, Trends & Scope
- Market Lineage Outlook
- Parent Market Outlook
- Related/Ancillary Market Outlook
- Fetal and Neonatal Care Equipment Market Dynamics
- Market Driver Analysis
- Increasing prevalence of varicose veins
- Increasing demand for minimally invasive surgeries
- Market Restraint Analysis
- Low awareness about varicose vein treatment
- Adverse effects of varicose vein procedures & lack of skilled professional
- Business Environment Analysis Tools
- Pestle Analysis
- Political & legal
- Economic & Social
- Porter’s Five Forces Analysis
- Threat of new entrants: high
- Bargaining power of buyers: high
- Competitive rivalry: high
- Threat of substitutes: moderate
- Bargaining power of suppliers: moderate
- Penetration & Growth Prospect Mapping
- Impact of COVID-19: Qualitative Analysis
- Reimbursement Scenario
- Pricing Analysis
- Average Cost Of Devices
- Average Cost Of Procedures
Canada Varicose Veins Treatment Devices Market: Type Analysis
Canada Varicose Veins Treatment Devices Market: End Use Analysis
- Teleflex Incorporated
- Sciton, Inc.
- Biolitec AG
- Dornier Medtech
- Merit Medical Systems
- Alma Lasers
- Boston Scientific Corporation
For more information about this report visit https://www.researchandmarkets.com/r/6lbkxd
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INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
SOURCE: Research and Markets
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PUB: 12/22/2021 06:38 AM/DISC: 12/22/2021 06:38 AM