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UnderPenetrated Latin American Varicose Vein Treatment Device Market Will Grow Rapidly Through 2021
Date:6/20/2013

TORONTO, June 20, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Latin American varicose vein treatment device market is severely underpenetrated, with less than 5 percent of the eligible patient pool estimated to have undergone treatment in 2012. This can be primarily attributed to the elective nature of these procedures; governments and patients will continue to place more focus on treating life-threatening conditions or those that would more severely impact their quality of life. Nonetheless, as the Latin American economy strengthens, patients will have more disposable income and greater access to insurance, which will spur rapid adoption of varicose vein treatments through 2021.

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When varicose veins are treated, many Latin Americans will continue to opt for the least expensive option: surgical vein stripping. Although this procedure is both invasive and painful, it is often covered by public or private insurance, unlike many other alternatives such as endovenous ablation. This is important in the cost-conscious environment in Latin America.

Competitors have therefore struggled to earn adoption of more expensive devices that can be used for less painful varicose vein treatments. For example, manufacturers of endovenous laser ablation devices have experienced the highest rates of adoption in Argentina, but are struggling in other Latin American markets. However, this difficulty is even more pronounced in the sclerotherapy market.

"Sclerotherapy is popular, and getting even more popular," said MRG Analyst Tonya Martin. "However, competitors have been unable to harness this popularity due to difficulties in gaining
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SOURCE Millennium Research Group
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