Canada Varicose Vein Treatment Devices Market Size Is Predicted To Reach A Valuation Of USD 77 Million By 2028: Grand View Research Inc.

 Canada Varicose Vein Treatment Devices Market Growth & Trends

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, according to a new report by Grand View Research, Inc. 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, was 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.

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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 hospitals 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

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Canada Varicose Vein Treatment Devices Market Segmentation

Grand View Research has segmented the Canada varicose vein treatment devices market on the basis of type and end use:

Canada Varicose Vein Treatment Devices Type Outlook (Revenue, USD Million, 2016 - 2028)

• Endovenous Ablation
  • Endovenous Laser Ablation (EVLA)
  • Fetal Radiofrequency Ablation (RFA)
• Sclerotherapy
• Surgical Ligation & Stripping

Canada Varicose Vein Treatment Devices End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Ambulatory Care Unit
• Vein Clinics
• Hospitals

List of Key Players of Canada Varicose Vein Treatment Devices Market

• Angiodynamics
• Medtronic
• Teleflex, Inc.
• Sciton, Inc.
• Biolitec AG
• Dornier Medtech
• Merit Medical Systems
• Alma Lasers
• Boston Scientific Corp.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.