Sclerotherapy Market by Product (Detergents, Osmotic Agents, and Chemical Irritants), Type (Ultrasound, Liquid, and Foam), Application (Venous Disease, Gastrointestinal Bleeding, Bronchopleural Fistula, Cystic Disease, and Systemic Diseases), and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026862 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed the US$ 1.01 billion mark in 2022 and is expected to hit US$ 1.68 billion by 2030, recording a CAGR of 6.6% during the forecast period.

The Sclerotherapy market has been significantly growing with the rising geriatric population

The growing patient geriatric population, rising incidence of varicose veins, and technological advancements pertaining to venous diseases are some of the major factors driving the market's growth. According to Mayo Foundation for Medical Education and Research (MFMER), aging can increase the risk of varicose veins. Furthermore, according to the World Health Organization (WHO), the global population of people aged 60 years and older is constantly increasing, and it will double to around 2.1 billion from 1 billion in 2020. Also, the same age group is expected to be approximately 1.4 billion by 2030. Likewise, the number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Thus, the rising geriatric population is creating a demand for sclerotherapy owing to incidences of varicose veins among older people, bolstering market growth.

The detergents segment under the product segment is expected to pace with reduced reaction time and rapid outcomes. Further, another segment, such as chemical irritants, is expected to gain traction during the forecasted year.

Within the report, the sclerotherapy market is segmented into product, type, application, and geography. By product, the market is further segmented into detergents, osmotic agents, and chemical irritants. Based on type, the market is segmented into ultrasound, liquid, and foam. By application, the market is categorized into venous disease, gastrointestinal bleeding, bronchopleural fistula, cystic disease, and systemic diseases. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Sclerotherapy is a new technology that empowered the growth of futuristic innovations.

Sclerotherapy is a procedure used to treat spider veins, varicose veins and hemorrhoids in adults by directly injecting a solution called the sclerosant into the veins. In children it is used in the same manner to treat vascular and lymphatic malformations. Such technological advancement has led to a rise in new product launches, significantly contributing to the sclerotherapy market. Further, the therapy procedure can be completed within 10 minutes, and sclerotherapy also offers more rapid outcomes than other methods.

High prevalence of varicose veins is one of the major factors accelerating the market growth.

Sclerotherapy is a minimally invasive procedure that effectively treats varicose veins. Under the sclerotherapy procedure, the injection is directly injected into the vein. However, it's often considered the treatment of choice for small varicose veins. Further, the high prevalence of varicose veins is driving the growth of sclerotherapy market. According to Society for Vascular Surgery (SVS), the prevalence of varicose vein varies between 10-30% of the population. Additionally, SVS reported that varicose veins can occur in almost anyone and affect up to 35% of people in the United States. Thus, the above-mentioned factors will drive the growth of global sclerotherapy market.

Recent strategic developments in sclerotherapy market

The sclerotherapy market has undergone several significant developments, and a few of these have been mentioned below:

  • In April 2022, Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, announced that it has completed its acquisition of Custopharm Inc. The combination with Custopharm enhances Hikma’s R&D capabilities and pipeline and expands Hikma’s differentiated US portfolio to close to 130 commercialised injectable medicines including Sodium Tetradecyl Sulfate (STS) Injection.
  • In April 2019, BTG plc, part of Boston Scientific Corporation, confirmed the VIEW VLU Registry interim study results, presented at the International Vein Congress in Miami, Florida. The interim findings confirm that Varithena polidocanol injectable foam 1% shows promise in increasing the rate of wound healing.

The sclerotherapy market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. LGM Pharma, Chemische Fabrik Kreussler & Co. GmbH, Medtronic plc, Boston Scientific Corporation, Tianyu Chang'an Group, AngioDynamics, Smith & Nephew, Mylan Pharma Group Limited, Omega Laboratories Limited, and Hikma Pharmaceuticals plc are among the prominent players operating in the sclerotherapy market.

Target audience for the report:

  • Sclerotherapy product manufacturers, vendors, and distributors
  • Contract development and manufacturing organization
  • Biopharmaceutical Companies
  • Urgent Care Centers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies
  • Healthcare Consultants

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product:
    • Detergents
    • Osmotic Agents
    • Chemical Irritants
  • Type:
    • Ultrasound
    • Liquid
    • Foam
  • Application:
    • Venous Disease
    • Gastrointestinal Bleeding
    • Bronchopleural Fistula
    • Cystic Disease
    • Systemic Diseases
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • LGM Pharma
    • Chemische Fabrik Kreussler & Co. GmbH
    • Medtronic plc
    • Boston Scientific Corporation
    • Tianyu Chang'an Group
    • AngioDynamics
    • Smith & Nephew
    • Mylan Pharma Group Limited
    • Omega Laboratories Limited
    • Hikma Pharmaceuticals plc

The List of Companies
- LGM Pharma
- Chemische Fabrik Kreussler & Co. GmbH
- Medtronic plc
- Boston Scientific Corporation
- Tianyu Chang\'an Group
- AngioDynamics
- Smith & Nephew
- Mylan Pharma Group Limited
- Omega Laboratories Limited
- Hikma Pharmaceuticals plc

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