Sclerotherapy Market Size Worth $1.3 Billion By 2027 | CAGR:
SAN FRANCISCO, Sept. 9, 2020 /PRNewswire/ -- The global sclerotherapy market size is expected to reach USD 1.3 billion by 2027, expanding at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Sclerotherapy is a non-invasive procedure that is widely used as a primary treatment for reticular veins, leg telangiectasias, and varicose veins. The procedure comprises injecting a solution (sclerosing agents or sclerosants) straight into the affected veins, which causes them to shrink and eventually disappear and assist in treating related symptoms such as aching, burning, swelling, and cramping. Factors like the better exposure to the site of application, utilization of less-invasive technologies, advances in dermatology, and increasing geriatric population with an incidence of varicose veins are fueling the market growth.
Key suggestions from the report:
- The detergent segment emerged as the largest segment in 2019 owing to high approvals by the FDA, low risk of clot formation, effectiveness, and its popularity among doctors
- The foam sclerotherapy segment is anticipated to grow fast over the forecast period due to better exposure to the onsite and results than liquid sclerotherapy
- North America dominated the market in 2019 owing to increasing demand for new technologies, a large pool of key players, rising prevalence of varicose veins, and advanced healthcare infrastructure in the region
- Asia Pacific is expected to reciprocate the highest CAGR over the forecast period.
Read 100 page research report with ToC on "Sclerotherapy Market Size, Share & Trends Analysis Report By Agent (Detergents, Chemical Irritants, Osmotic Agents), By Type (Ultrasound, Liquid, Foam), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/sclerotherapy-market
Sclerosing agents used for the treatment of varicose veins are segmented into detergents, hyperosmolar/ osmotic agents, and chemical irritants. Agents like Sodium tetradecyl sulfate (Sotradecol) and Polidocanol (Asclera), Sodium morrhuate (Scleromate), Ethanolamine Oleate (Ethamoline) are all FDA approved sclerosants used to treat and reduce the effect of vein damage. According to the Society of Vascular surgery, more than 33.0% of women and about 17.0% of men consult a doctor for telangiectasias and varicose veins in industrialized countries, affecting up to 35.0% of people in the U.S. alone.
This condition, if left untreated can cause severe health problems such as chronic pain, deep vein clots, skin ulcers, and coronary ailments. According to NCBI, 20.0% of all adults will get varicose veins at some point in their lives and the prevalence is higher among the aging population and women. These factors are expected to boost the market growth. However, the side effects of this procedure such as hyperpigmentation and matting, scarring, and allergic reactions in some patients might hinder the market growth.
Grand View Research has segmented the global sclerotherapy market on the basis of the agent, type, and region:
- Sclerotherapy Agent Outlook (Revenue, USD Million, 2016 - 2027)
- Chemical Irritants
- Osmotic Agents
- Sclerotherapy Type Outlook (Revenue, USD Million, 2016 - 2027)
- Sclerotherapy Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Sclerotherapy Market
- BTG, Kreussler
- LGM Pharma
- ChanganTianyu group
- Bioniche Pharma Group Ltd
- Omega Pharmaceuticals
- Merz Pharma
Find more research reports on Medical Devices Industry, by Grand View Research:
- Varicose Vein Treatment Market – The global varicose vein treatment market size was valued to be over USD 883 million in 2015. The emergence of progressively less-invasive treatment procedures coupled with the growing geriatric population base is expected to propel the market growth.
- Negative Pressure Wound Therapy Market – The global negative pressure wound therapy market was valued at over USD 1.9 billion in 2015 and is expected to witness attractive growth over the forecast period.
- Scleroderma Therapeutics Market – The global scleroderma therapeutics market size was valued at USD 1.60 billion in 2018 and is estimated to expand at a CAGR of 6.0% from 2019 to 2026. The market is mainly driven by the off-label use of drugs approved for its symptomatic indications, such as rheumatoid arthritis.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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