Reports and Data recently published a report on the global Laser-Based Devices market, which stated that the market size in 2022 was USD 1.3 billion and is projected to achieve a revenue CAGR of 6% during the forecast period. The National Institutes of Health (NIH) reports that varicose veins, which appear as twisted, bulging, and swollen veins primarily in the legs, affect about 23% of Americans, leading to the need for efficient and advanced treatment techniques.

Minimally invasive procedures, such as Radiofrequency Ablation (RFA) and Endovenous Laser Treatment (EVLT), have become popular due to their effectiveness, low complication rates, and fast recovery periods. Technological advancements, such as the development of advanced laser fibres and catheter-based systems that enable accuracy and improved patient results, and favourable reimbursement rules for these surgeries, are driving the popularity of these procedures.

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The report highlights that the demand for varicose vein treatment equipment is increasing across several end-use sectors, including hospitals, clinics, and ambulatory surgery centres, and the market revenue growth is expected to be fuelled by the rising rates of lifestyle-related diseases, such as diabetes, hypertension, and obesity.

With the world's aging population, particularly in developed countries, becoming older, the usage of varicose vein treatment equipment is increasing, and the need for efficient and effective alternatives to varicose vein therapy will increase. Moreover, the market revenue growth is boosted by increased use of high-quality and secure Laser-Based Devices as a result of severe government regulations addressing medical equipment safety and efficacy.

The report also states that the laser-based devices segment accounted for a significantly large revenue share in 2022, owing to their efficiency in treating varicose veins with little invasiveness. Throughout the projected period, the hospital segment accounted for the largest revenue share in the worldwide varicose vein therapy devices market, as hospitals usually have a large patient population and larger procedure volumes, making them a substantial source of revenue for firms that manufacture varicose vein treatment equipment. North America held the biggest revenue share in the global market in 2022, owing to the commonality of varicose veins and a growing desire for minimally invasive treatment solutions.

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Some of the prominent players in the global Laser-Based Devices market include Medtronic plc., Boston Scientific Corporation, AngioDynamics, Inc., Lumenis Ltd., Syneron Medical Ltd., Dornier MedTech GmbH, Alma Lasers Ltd., Energist Ltd., Sciton Inc., Merz Pharma GmbH & Co. KGaA, BTG International Ltd., Biolitec AG, Integra LifeSciences Corporation, Diomed, Inc., and Vascular Solutions, Inc. Boston Scientific Corporation expanded its venous disease product portfolio and boosted its market share for varicose vein therapy by acquiring Veniti, a medical device company that specialises in the treatment of venous sickness, particularly varicose veins.

The report also highlights some of the new products and innovations in the market, such as the VenaCure EVLT laser fibre from AngioDynamics, Inc., which precisely and successfully treats patients while reducing the risk of heart damage, and the VenaSeal closure device from Medtronic plc., which seals a broken vein using a patented glue without using cuts or general anaesthesia.

Based on the report, the global Laser-Based Devices market is segmented on the basis of Product Type Outlook, End-use Outlook, and Regional Outlook, with the laser-based devices segment accounting for a significantly large revenue share and the hospital segment accounting for the largest revenue share in the worldwide varicose vein therapy devices market. The report also provides revenue projections for different regions.

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