Endovenous Ablation to drive Varicose Vein Market into 2013, according to Millennium Research Group
WALTHAM, Mass., March 31 /PRNewswire/ -- According to Millennium Research Group's (MRG's) new US Markets for Varicose Vein Treatment Devices 2009 report, the US market for endovenous ablation devices will undergo significant growth through 2013 as the market rises to more than $200 million.
The endovenous ablation market, which consists of endovenous laser ablation (ELA) and endovenous radiofrequency ablation (ERFA) devices, experienced a great deal of turmoil in 2007 and 2008 as a result of numerous patent infringement trials; however, much of the dust has now settled, and a large-scale acquisition has positioned the market for strong growth.
AngioDynamics' mid-2008 acquisition of assets belonging to former ELA market leader, Diomed, signaled an end to the litigation that had plagued the laser market's largest competitors. In spite of winning the patent infringement lawsuit against AngioDynamics and Vascular Solutions a year earlier, Diomed filed for bankruptcy protection in March 2008 and sold off its assets to AngioDynamics later that year.
"With the two largest competitors in the laser market now paying royalties to VNUS, the price of disposable laser fibers will undoubtedly increase, which is not what consumers want to see during an economic crisis," says Stephanie LaBelle, Senior Analyst at MRG. "Although some competitors in the market are still selling their devices at a discount, there are still active lawsuits between VNUS and these companies. If additional competitors have to start paying royalties as well, it will limit their ability to compete against AngioDynamics and Vascular Solutions on price."
Because of these price increases, many physicians will take on more patients for varicose vein treatments in order to maximize device return-on-investment. These conditions, combined with the growing patient awareness of minimally invasive treatment alternatives to varicose vein surgery, will fuel significant growth in the endovenous ablation market over the next several years.
In addition to the endovenous ablation market, MRG's US Markets for Varicose Vein Treatment Devices 2009 report provides coverage of the phlebectomy and as well markets, and key competitors, including AngioDynamics, biolitec, CoolTouch, Dornier MedTech, InaVein, Vascular Solutions, VNUS Medical Technologies, and many more.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through published reports, ongoing Marketrack(TM) projects, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the health care industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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|SOURCE Millennium Research Group|
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