LONDON--(BUSINESS WIRE)--The global endovenous ablation devices market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global endovenous ablation devices market size is the increasing prevalence of CVI. The prevalence of CVI is higher in westernized and industrialized nations than in developing countries owing to the differences in lifestyle and physical activity. The prevalence of CVI also increases with age. Some of the risk factors of CVI include a family history of CVI, aging, multiple pregnancies, obesity, and standing or sitting for long periods, smoking, hormone replacement surgery, and lack of physical activity. These factors are significantly increasing the prevalence of CVI, which is expected to stimulate the demand for endovenous ablation devices for the treatment of CVI such as varicose veins during the forecast period.
As per Technavio, the emergence of endovenous steam ablation (EVSA) as an alternative to EVLA and RFA will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global endovenous ablation devices market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Endovenous Ablation Devices Market: Emergence of Endovenous Steam Ablation (EVSA) as an Alternative to EVLA and RFA
The endovenous thermal ablation methods that include EVLA and RFA, have been dominating conventional surgical ligation and stripping over the last decade. EVSA is the most recent innovation endovenous thermal ablation in vascular surgery that works by heating the venous structure with steam to a maximum temperature of 120°C. It’s a minimally invasive procedure which is very similar to EVLA and can be performed as an outpatient with the patient under local TA. Thus, the emergence of EVSA is expected to be a key endovenous ablation devices market trend during the forecast period.
“Apart from the emergence of endovenous steam ablation (EVSA), other factors such as strategic partnerships, M&A, and marketing initiatives by vendors, will lead to market growth. The growing popularity of performing endovenous procedures in an outpatient setting will have a significant impact on the endovenous ablation devices market growth during the forecast period,” says a senior analyst at Technavio.
Global Endovenous Ablation Devices Market: Segmentation Analysis
This market research report segments the global endovenous ablation devices market by technology (EVLT devices, RFA devices, and NTNT devices), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the endovenous ablation devices market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the endovenous ablation devices market in North America can be attributed to factors such as rise in healthcare expenditure, strong presence of key vendors, high demand for minimally invasive treatment procedures, and the increasing prevalence of varicose veins in the region.
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