An Incisive, In-depth Analysis on the Endovenous Laser Devices Market
This study offers a comprehensive, 360 degree analysis on the Endovenous Laser Devices market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Endovenous Laser Devices market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Endovenous laser systems segment is expected to register high CAGR during the forecast period
Endovenous laser systems segment is the largest segment amongst the product segments of the global endovenous laser therapy market, which was estimated to be valued at more than US$ 200 Mn, or more than 90% share of the total market in 2016. Endovenous laser systems segment is expected to register high Y-o-Y growth throughout the forecast period. Revenue from this segment is projected to expand at a CAGR of 7.3% from 2016 to 2026 to reach a market valuation of more than US$ 500 Mn by 2026. Endovenous laser systems segment is estimated to record absolute $ opportunity of close to US$ 20 Mn in 2017 over 2016. This segment is expected to be a lucrative segment in the global endovenous laser therapy market over the forecast period owing to the high adoption of endovenous laser systems across the globe to treat varicose veins. This segment dominated the global endovenous laser therapy market in revenue terms in 2015 and the trend is projected to continue throughout the forecast period.
Rising cases of varicose veins expected to positively impact revenue growth of the endovenous laser systems segment over the forecast period
Rising number of patients with varicose veins globally is driving the growth of the endovenous laser systems segment. Varicose veins are more prominent in female patients as compared to male patients. Besides, increasing cases of varicose veins due to an ageing population is a common problem across the globe. Change in lifestyle with no physical activity can also lead to varicose veins. Pregnant women are at high risk of varicose veins due to the baby causing increased pressure on the veins and partly due to hormones produced during pregnancy that tend to relax vein walls. Sometimes injury caused in a deep leg vein may also lead to varicose veins. Increasing cases of patients affected by varicose veins are expected to fuel revenue growth of the endovenous laser systems segment over the forecast period. Another factor creating a positive impact on the endovenous laser systems segment is the fast and effective procedure provided by endovenous laser therapy to treat varicose veins as compared to traditional vein surgery. The procedure requires local anaesthesia and results in minimal discomfort. The success rate of the therapy is also high. Growing demand for endovenous laser therapy is boosting the adoption of endovenous laser systems, thereby fuelling segmental revenue growth.
Medical device manufacturers operating in the global endovenous laser therapy market are focussing on providing user-friendly devices to end users for minimising chances of manual errors. Devices with features like faster procedure setup, intuitive user interface with fewer buttons and portable devices are being manufactured by companies operating in this market to attract a larger customer base. Features like data storage, compatibility with patient Data Management Software to manage records are also being offered in these devices. This is expected to fuel adoption and subsequently revenue growth of the endovenous laser systems segment.
Endovenous laser systems segment anticipated to be the most attractive product type segment in the North America endovenous laser therapy market
Endovenous laser systems segment is the most attractive segment in the North America endovenous laser therapy market, recording a market attractiveness index of 1.9 during the forecast period. Increasing prevalence of obesity in North America is expected to primarily impact revenue growth of the endovenous laser systems segment over the forecast period. The surge in demand for varicose veins treatment procedures owing to increasing number of patients suffering from varicose veins in China is anticipated to result in increasing adoption of endovenous laser systems in China, thereby adding to the market attractiveness of this segment in the country and subsequently in the APEJ region.
Increasing availability of technologically advanced products especially in developed countries is expected to fuel the endovenous laser systems segment revenue in the Western Europe endovenous laser therapy market over the forecast period. In Eastern Europe, Russia is predicted to experience a high growth rate as compared to other countries owing to government initiatives for meditec progress in the country.
A newly published report by Future Market Insights on the global endovenous laser therapy market considers the weighted average pricing of products from an end-user perspective. Product prices have been captured from key manufacturers in top countries for each region, with respect to their estimated market share to arrive at region-wise weighted average pricing. The report titled “Endovenous Laser Therapy Market: Global Industry Analysis and Opportunity Assessment 2016–2026” presents a comprehensive forecast for the global endovenous laser therapy market over a 10 year forecast period. Our analysts have captured product price points after extensive discussions with industry experts and manufacturers in prominent countries. The report incorporates the following key points:
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Currency fluctuations have not been taken into account and the analysis is static in nature. It also rules out impact of extreme events in specific countries
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Shipping charges have not been included in the pricing for regions that are largely import-dependent
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A demand-supply gap analysis has been performed involving both marketplace discussions and desk research to determine pricing premiums
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Engaging in acquisitions and mergers is a key strategy adopted by manufacturers to increase their consumer base across different geographies
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Strengthening of supply chain particularly in regions such as Asia Pacific excluding Japan and Middle East and Africa are key focus areas for players in the global endovenous laser therapy market
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Primary focus of manufacturers rests on the need to efficiently meet requirements of various end users, while ensuring supply of the best endovenous laser therapy products, as quality is of utmost importance across the value chain
Research focus - impact analysis of key growth drivers and restraints based on the weighted average model
The report analyses the global endovenous laser therapy treatment market in terms of value (US$) by product type, end user and region. The report also provides information regarding market dynamics, regulations, competitive landscape, current trends, market estimation and forecast. The report begins with the market definition, followed by insights on pricing, treatment methods, timeline and evolution of endovenous laser therapy across the globe. Pricing assumptions given in the introductory section enable the client to perceive the pricing comparison represented in the subsequent section of regional average pricing analysis. The market dynamics section includes Future Market Insights’ analysis of key trends, drivers, restraints, opportunities and macro factors influencing the global endovenous laser therapy market. Impact analysis of key growth drivers and restraints based on the weighted average model has also been included in the report to the better equip clients with crystal clear decision making insights.
A competitive landscape has been included in the last section of the report to provide a dashboard view of key companies operating in the global endovenous laser therapy market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global endovenous laser therapy market. This section also includes market strategies and SWOT analysis of the main players operational in the global endovenous laser therapy market. Detailed profiles of endovenous laser therapy equipment manufacturers are also included in the scope of the report to evaluate their long- and short-term strategies.
The key segments covered in this report are as under:
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Extensive market research based on key growth parameters and metrics
We have considered Year-on-Year (Y-o-Y) growth to understand the predictability of the market and to identify growth opportunities for companies operating in the global endovenous laser therapy market. To understand key segments in terms of their growth and performance in the global endovenous laser therapy market, Future Market Insights has developed a market attractiveness index. The resulting index would help providers identify existing market opportunities. Macroeconomic indicators such as healthcare industry outlook, healthcare spending, and Gross Domestic Product have been considered while examining this report, to arrive at the indicated market numbers. Yearly change in inflation rate has not been considered while forecasting market numbers. Bottom-up approach has been used to assess market numbers, while top-down approach has been used to counter-validate the reached market numbers. We have taken a systematic research approach where we have performed exhaustive primary and secondary research to analyse the required data points to arrive at the overall market numbers.
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