Endovenous ablation devices are used to treat chronic venous insufficiency (CVI) with varicose veins. These type of devices are specially designed for minimally invasive procedures. Symptoms of varicose veins disease include large, swollen veins that often appear on legs and feet. This is happened when veins do not work properly, resulted blood does not flow effectively. In severe cases, varicose veins may rupture, or develop into varicose ulcers on the skin.
There are three type of endovenous ablation devices available in the market: endovenous laser ablation therapy (EVLT) devices, radiofrequency ablation (RFA) devices, and non-thermal non-tumescent (NTNT) devices. Endovenous laser ablation therapy is a method of treating varicose veins without surgery, in which, veins are heated by a laser. Radiofrequency ablation involves using an electrical current produced by a radio wave to heat up the nerve tissues in the affected area of a vein, thereby reducing the pain in that area.
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Global Endovenous Ablation Devices Market: Competitive Landscape
Major players have adopted strategies such as partnerships, agreements, new product development, and collaborations to gain competitive advantage in the global endovenous ablation devices market.
- In January 2019, Medtronic Plc acquired EPIX Therapeutics for expanding its ablation product portfolio
- In January 2019, Venclose, Inc. partnered with Viant to deliver next-generation vein treatment solutions
- Founded in 1943, Teleflex Corporation is based in Wayne, New Jersey, U.S. The company has a diverse product portfolio with solutions in fields such as interventional access, vascular access, cardiology, anesthesia, surgical care, respiratory care, and emergency services. It provides Endovenous Ablation Procedure Packs for both endovenous laser ablation and radiofrequency ablation procedures.
- Established in 1949, Medtronic is based in Minneapolis, Minnesota, U.S. The company operates through four main business segments: Cardiac & Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. Medtronic operates in 160 countries across 480 locations globally, serving more than 65 million patients. It holds more than 45,000 patents in the medical technology industry. Medtronic offers products including Evident MW Ablation System, Cool-tip RF Ablation System, and Emprint SX Ablation Platform with Thermosphere Technology.
- Founded in 1888, AngioDynamics is a minimally invasive medical devices provider for oncology, peripheral vascular disease, surgery, ablation, dialysis, and vascular access. The company has more than 1200 employees and it distributes its products in more than 50 countries across Europe, the U.S., Asia, and Latin America. The company has broad product portfolio that includes Solero Microwave Tissue Ablation System, NanoKnife System, StarBurst Radiofrequency Ablation System, and StarBurst MRI RFA Device for treatment of varicose veins.
- Founded in 2014, Venclose, Inc. is a medical technology company engaged in developing next-generation solutions for treatment of chronic venous insufficiency. Venclose, Inc. provides a wide range of products for the treatment of chronic venous insufficiency, such as Venclose System, VENCLOSE RF Ablation Catheter, and VENCLOSE RF Generator.
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Global Endovenous Ablation Devices Market: Dynamics
Increase in Prevalence of Chronic Venous Insufficiency and Associated Risk Factors to Boost Market
Increase in prevalence of chronic venous insufficiency is a major factor for expansion of the endovenous ablation devices market. According to a recent study, around 10% of adults suffer from chronic venous insufficiency. The prevalence of chronic venous insufficiency disease is high in developed countries as compared to developing countries. Untreated chronic venous insufficiency disease becomes life threatening. In addition, increasing prevalence of obesity, aging, smoking, and lack of physical activities are likely to cause chronic venous insufficiency disease. All these factors are expected to boost the market.
Focus on Launch of Innovative Products to Boost Endovenous Ablation Devices Market
Manufacturers operating in the endovenous ablation devices market are strongly focusing on increasing investments in the research & development activities to design and develop new and innovative endovenous ablation devices. For instance, Medtronic plc has developed an innovative product, VenaSeal Closure System, which is the only non-thermal, non-tumescent, and non-sclerosant procedure that uses a proprietary medical adhesive delivered endovenously to close the vein.
Global Endovenous Ablation Devices Market: Segmentation
Based on technology, the global endovenous ablation devices market can be divided into:
- Endovenous Laser Ablation Therapy (EVLT) Devices
- Radiofrequency Ablation (RFA) Devices
- Non-thermal Non-tumescent (NTNT) Devices
In terms of end-user, the global endovenous ablation devices market can be classified into:
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