REDDING, Calif., June 24, 2024 /PRNewswire/ -- According to a
new market research report titled 'Venous Thromboembolism
Treatment Market by Device (Thrombectomy, Inferior Vena
Cava Filter [Retrievable, Permanent], Stockings, Compression Pump)
Application (DVT, Pulmonary Embolism) End User (Hospital,
Ambulatory Care Center) – Global Forecast to 2030,'
published by Meticulous Research®, the venous
thromboembolism treatment market is projected to reach $4.40 billion by 2030, at a CAGR of 7.2% from
2023 to 2030.
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Venous thromboembolism occurs when a blood clot is formed in the
veins of the arms or legs and moves through the bloodstream. It
obstructs blood and oxygen flow, causing tissue and organ damage.
Deep vein thrombosis and pulmonary embolism are both signs and
symptoms of venous thromboembolism. These symptoms and the
condition itself can be treated using certain devices such as
thrombectomy devices, inferior vena cava filters, compression
pumps, stockings, and other devices.
The high prevalence of venous thromboembolism, rising incidence
of cancer, growing prevalence of secondary risk factors such as
diabetes and obesity, increase in orthopedic surgical procedures,
and the rising demand for minimally invasive treatment procedures
are the factors driving the growth of the venous thromboembolism
treatment market. Furthermore, the growing accessibility and
affordability of treatment options, advancements in VTE diagnosis
and treatment methods, and the market expansion in emerging
economies are expected to create market growth opportunities.
However, instances of product failure and product recalls may
restrain the market's growth. Additionally, lack of awareness about
venous thromboembolism and increasing awareness of probable side
effects of compression garments are major challenges for market
growth.
The report also includes an extensive assessment of the key
growth strategies adopted by leading market participants over the
past three to four years. The global venous thromboembolism
treatment market has witnessed several product launches, approvals,
and acquisitions in the last couple of years.
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Some of the key players operating in the global venous
thromboembolism treatment market are ALN Implants chirurgicaux
(France), AngioDynamics, Inc.
(U.S.), Argon Medical Devices, Inc. (U.S.), ArjoHuntleigh AB
(Sweden), Boston Scientific
Corporation (U.S.), Cardinal Health, Inc. (U.S.), Cook Group
Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), DS MAREF Co., LTD (South Korea), Enovis Corporation (U.S.),
LifeTech Scientific Corporation (China), Medtronic plc (Ireland), and Stryker Corporation (U.S.).
High Prevalence of Venous Thromboembolism to Drive Market
Growth
Vascular diseases impact the blood flow in veins and arteries.
Venous thromboembolism involves the formation of a blood clot in a
vein, which can potentially block the blood flow and pose a
life-threatening risk. When these clots occur in deep veins, such
as those in the lower legs, thighs, arms, or pelvis, the condition
is referred to as deep vein thrombosis (DVT). In some instances, a
clot can detach, travel through the bloodstream to the lungs, and
result in pulmonary embolism (PE).
Venous thromboembolism is a very common condition with a high
prevalence globally. There is limited data on the exact number of
people affected by venous thromboembolism. However, according to
the American Heart Association report (2021), every year, around
1,220,000 people in the U.S. are affected by the disease. According
to the World Health Organization (WHO), VTE is a common and
potentially fatal condition, with an estimated annual incidence of
1-2 cases per 1,000 people. The incidence of VTE increases with
age, with the highest rates observed in individuals over the age of
60.
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Furthermore, according to a 2022 study published in Nature
Reviews Cardiology, the incidence of venous thromboembolism in the
U.S. and Europe was estimated at
1-2 cases per 1,000 persons per year, while in Australia, it was estimated to be 0.8 cases
per 1,000 per year.
Venous thromboembolism can result from an imbalance of
blood-clotting proteins, inherited factors, physical inactivity
injuries, or infections, among other causes. Additionally, venous
thromboembolism is more prevalent in the elderly population. The
high prevalence of venous thromboembolism is boosting the demand
for various VTE prevention products, driving the growth of this
market.
The global venous thromboembolism treatment market is segmented
by device (thrombectomy devices, inferior vena cava filters
{retrievable filters and permanent filters}, stockings, compression
pumps, and other devices & accessories), application (deep vein
thrombosis and pulmonary embolism), end user (hospitals, ambulatory
care centers, and other end users), and geography. The study also
evaluates industry competitors and analyzes the market at the
global and regional levels.
Based on device, in 2023, the thrombectomy devices segment is
expected to account for the largest share of the venous
thromboembolism treatment market. The large market share of
this segment is attributed to the increasing prevalence of
cardiovascular diseases, growing preference for minimally invasive
procedures, and launches of new thrombectomy devices. Thrombectomy
devices are employed in the treatment of venous thromboembolism
(VTE), acute stroke, pulmonary embolism (PE), and deep vein
thrombosis (DVT). Venous thrombectomy is performed in patients with
severe cases of DVT that may lead to PE. According to various
research studies, approximately 13-31% of critically ill patients
develop DVT, which requires interventional procedures like
thrombectomy.
Based on application, in 2023, the deep vein thrombosis segment
is expected to account for the large market share of the venous
thromboembolism treatment market. The large market share of this
segment is attributed to the increasing prevalence of obesity, a
growing geriatric population, rising cases of deep vein thrombosis
due to lifestyle-related diseases, excessive alcohol consumption,
and heightened awareness of DVT. The aging population is
susceptible to various medical conditions, including
cardiovascular diseases, obesity, cancer, and diabetes, all of
which elevate the risk of DVT. Various factors, such as a family
history of blood clots, obesity, hormone replacement therapy,
injury, surgery, lack of movement, smoking, and heart failure, can
contribute to DVT. According to the United Nations, in 2022, there
were 771 million people aged 65 years or over globally, a number
expected to reach 994 million by 2030 and 1.6 billion by 2050.
Additionally, the Centers for Disease Control and Prevention (CDC)
reported in June 2023 that
approximately 900,000 people in the U.S. were affected by deep vein
thrombosis in 2022. Hence, the high prevalence of DVT drives the
demand for venous thromboembolism treatment and prevention
devices.
Based on end user, in 2023, the hospitals segment is expected to
account for the large share of the venous thromboembolism treatment
market. The large market share is attributed to the increasing
prevalence of venous thromboembolism, the rising number of
hospitals and clinics, the presence of highly skilled
professionals, and the high purchasing power of hospitals. The easy
accessibility to hospitals, coupled with a large patient population
seeking comprehensive healthcare services, including diagnosis,
treatment, and surgeries at a single location, also contributes to
the significant market share of this segment. Venous
thromboembolism requires a sequential work-up and advanced
technologies for treatment. Many hospitals are integrating
sophisticated technologies such as compression pumps and
thrombectomy devices to streamline the treatment process for
patients.
Geographically, in 2023, North
America is expected to account for the largest share of the
venous thromboembolism treatment market, followed by
Europe. However, Asia-Pacific
is slated to register the highest CAGR in the venous
thromboembolism treatment market during the forecast period. The
growth of this regional market can be attributed to factors such as
the growing prevalence of chronic diseases, the increasing number
of people living sedentary infrastructure, and rising awareness
regarding venous thromboembolism.
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Scope of the Report:
Venous Thromboembolism Treatment Market
Assessment—by Device
- Thrombectomy Devices
- Inferior Vena Cava Filters
- Retrievable Filters
- Permanent Filters
- Stockings
- Compression Pumps
- Other Devices & Accessories
Note: Other devices & accessories include extraction and
repositioning devices for vena cava filters and garments for
compression therapy (excluding stockings).
Venous Thromboembolism Treatment Market
Assessment—by Application
- Deep Vein Thrombosis
- Pulmonary Embolism
Venous Thromboembolism Treatment Market
Assessment—by End User
- Hospitals
- Ambulatory Care Centers
- Other End Users
Note: Other end users include nursing care centers, long-term
care centers, and military health centers.
Venous Thromboembolism Treatment Market—by
Geography
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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