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

Teleflex Incorporated

  • 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.

 Medtronic Plc

  • 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.

AngioDynamics

  • 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.

 Venclose, Inc.

  • 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:

  • Hospitals
  • Clinics
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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