Meticulous Research®—a leading global market research company, published a 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.’
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According to this latest publication from Meticulous Research®, the global venous thromboembolism treatment market is projected to reach $4.40 billion by 2030, at a CAGR of 7.2%. 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 key 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.
Key Players
The key players profiled in the venous thromboembolism treatment market report are ALN Implants chirurgicaux (ALN Surgical Implants) (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.).
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 product, in 2023, the thrombectomy devices segment is expected to account for the largest share of the market. Thrombectomy devices are medical systems used to remove blood clots from arteries or veins in cases of severe conditions such as acute ischemic stroke, pulmonary embolism, deep vein thrombosis, and venous thromboembolism. The large market share of this segment is attributed to the increasing prevalence of cardiovascular diseases, the growing preference for minimally invasive procedures, and the launch of new thrombectomy devices. For instance, in July 2021, AngioDynamics, Inc. (U.S.) received 510(k) clearance from the FDA for its AlphaVac Mechanical Thrombectomy System, which is an off-circuit, multipurpose thrombectomy device that removes thrombi or emboli non-surgically from the vasculature.
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Based on application, in 2023, the deep vein thrombosis segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the increasing geriatric population, rising cases of obesity, increasing cases of deep vein thrombosis due to disease-causing lifestyle, excessive alcohol consumption, and the growing awareness and early diagnosis of DVT. Obesity plays a significant role in the development of venous stasis, increasing the susceptibility to DVT. According to the World Health Organization (WHO), in 2021, the global prevalence of obesity exceeded 1 million individuals, encompassing 340 million adolescents, 650 million adults, and 39 million children. This number is expected to increase by about 167 million people, including adults and children, by 2025. Hence, the growing aging population and rising obesity rates are anticipated to drive the demand for devices aimed at preventing deep vein thrombosis during the forecast period
Based on end user, in 2023, the hospitals segment is expected to account for the largest share of the 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.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2022, 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 largest CAGR 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 lifestyles, growing health expenditures, supportive government initiatives aimed at improving healthcare infrastructure, and rising awareness regarding venous thromboembolism.
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Key questions answered in the report-
• Which are the high-growth market segments in terms of device, application, end user, and region/country?
• What was the historical market for venous thromboembolism treatment across the globe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, challenges, opportunities, and trends in the global market of venous thromboembolism treatment market?
• Who are the major players in the global venous thromboembolism treatment market?
• What is the competitive landscape like, and who are the market leaders in the global venous thromboembolism treatment market?
• What are the recent developments in the venous thromboembolism treatment market?
• What are the different strategies adopted by the major players in the venous thromboembolism treatment market?
• What are the geographical trends and high growth regions/countries?
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