Venous Thromboembolism Treatment Market: US Remains the Front Runner Driven by Favorable Reimbursement Scenario: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029

Venous Thromboembolism Treatment Market: US Remains the Front Runner Driven by Favorable Reimbursement Scenario: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029

Venous Thromboembolism Treatment Market - Key Research Findings

  1. Global venous thromboembolism treatment market size in 2018 – Nearly US$ 1,200 Mn 

  2. The venous thromboembolism treatment market is expected to observe a CAGR of 4.0% over 2019-2029. 

  3. North America and Europe will reportedly continue to spearhead global market for venous thromboembolism treatment, through 2029. 

    • The presence of favorable reimbursement policies in the U.S. is one of the major factors contributing to the growth of the venous thromboembolism treatment market. 

  4. Asia Pacific holds a high growth potential for the venous thromboembolism treatment market 

    • Increasing healthcare awareness and increasing number of surgical procedures is expected to boost the growth of the venous thromboembolism treatment market. 

Top 3 Factors Shaping the Venous Thromboembolism Treatment Market

  • Increasing Prevalence of Pulmonary Embolism

    Increasing prevalence of pulmonary embolism disease is one of the major factors responsible for the growth of the venous thromboembolism treatment market. Several patients are at a very high risk of developing elevated levels of venous thromboembolism, and retrievable vena cava filters act as an aid to prevent the progression of fatal pulmonary embolism during bedside prophylactic treatment.

    It is anticipated that the therapeutic application of vena cava filters will decrease globally due to several complications and risks associated when the device is not retrieved, and this is expected to accelerate the need for prophylactic filters for the treatment of such patient groups, which is another factor that is expected to boost the venous thromboembolism treatment market.

    The number of surgical procedures is increasing globally, which is also expected to boost the growth of the venous thromboembolism treatment market. Venous thromboembolism devices enable physicians to work with greater flexibility and allow them to deliver drugs, fluids, and nutritional agents that are particularly useful for the treatment of these embolic patient groups, which is also expected to increase the overall growth of the venous thromboembolism treatment market.

  • Favourable Reimbursement Policies for Vena Cava Filter Procedures, Particularly in the U.S.

    There are various favourable reimbursement policies, which can increase the overall growth of the venous thromboembolism treatment market. Several studies have reported that there is a strong correlation between the usage rate/adoption of prophylactic vena cava filters and a patient’s payer status. In 2012, a retrospective study on the usage of prophylactic filters carried out in U.S. found that there was 4.9% growth in the usage of prophylactic filters among patients with insurance coverage as compared to 2.7% in patient groups without any health insurance coverage.

    The U.S. market is one of the largest revenue-generating regional markets for venous thromboembolism treatment. There are favourable reimbursement options for performing minimally invasive procedures in the country, which is expected to boost the growth of the venous thromboembolism treatment market. Moreover, the country offers physicians high incentives to use filters for prophylactic treatment. This factor is also likely to be responsible for the significant growth of the venous thromboembolism treatment market.  

  • Increasing Retrieval Rate of Vena Cava Filters

    Vena cava filters are associated with serious medical complications post-surgical implantation. Hence, these devices need to be removed once the risk of pulmonary embolism reduces. In 2013, a report based on the quantitative risk-benefit profiling of retrieval vena cava filters reported that these filters should be replaced in a span of approximately one to two months, post-surgery.

    As awareness about the possible risks involved in case of vena cava filters being left inside patients is growing, there has been a push in the venous thromboembolism treatment industry for developing advanced tracking systems for patient follow-up as well as to ensure filter removal in these patients once the risk of pulmonary embolism gets minimised. The increasing retrieval rate of vena cava filters is thus expected to increase the growth of the venous thromboembolism treatment market.

Venous Thromboembolism Treatment Market Structure Analysis

  • In the global venous thromboembolism treatment market, tier 1 companies hold a revenue share of more than 35%.
  • Key players in the venous thromboembolism treatment market focus on collaborations and partnerships to increase their product portfolio.
  • Leading players in the venous thromboembolism treatment market are also trying to launch some new products in the venous thromboembolism treatment market.
  • Some of the key strategies adopted by the manufacturers of venous thromboembolism treatment are playing a major role in the growth of the venous thromboembolism treatment market.

Venous Thromboembolism Treatment – Devices Used for Deep Venous Thrombosis and Pulmonary Embolism Treatments

The demand for venous thromboembolism treatment devices is expected to increase due to the increasing prevalence of pulmonary embolism. Venous thromboembolism are formation of thrombus in the deep veins specifically in the legs and pelvic region due to various factors such as obesity, prolonged sitting, pregnancy, patient with cardiovascular disorders, hip replacement or fractures as well as drug-induced thrombosis.

The manufacturers of venous thromboembolism treatment devices such as thrombectomy devicesblood clot retrival devices are primarily focusing on new innovative technologies which can be used in conjuction with anti-coagulants and compression therapy.

Market Set to Grow 1.5x between 2019 and 2029

The venous thromboembolism treatment market is likely to witness steady growth over the course of the forecast period. The increasing retrieval rate of vena cava filters and increasing number of vena cava surgical procedures are among factors driving the growth of the venous thromboembolism treatment market.

Emerging Countries Promise New Growth Opportunities

North America is expected to contribute the highest revenue share in the global venous thromboembolism treatment market in 2019. However, healthy growth is expected in developing countries, especially China, India, and South Korea. Among the emerging countries, India is likely to present significant growth opportunities of growth for stakeholders in the venous thromboembolism treatment market.

The Broader Perspective

Stakeholders in the venous thromboembolism treatment market are adapting to the evolving requirements of the healthcare community and the patient pool. Manufacturers are mainly focusing on mergers and acquisitions.

For example, in early 2016, Argon Medical fully acquired the option elite retrievable IVCF, cleaner rotational thrombectomy system, and UltraStream Chronic Hemodialysis Catheter. Moreover, in July 2017, Cardinal Health announced that it has completed the acquisition of Medtronic's patient care, deep vein thrombosis, and nutritional insufficiency businesses for US$6.1 billion.

VENOUS THROMBOEMBOLISM TREATMENT MARKET TAXONOMY

The global venous thromboembolism treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Product

  • Non-Segmented Pneumatic Compression Pumps
  • Segmented Pneumatic Compression Pumps without Gradient
  • Segmented Pneumatic Compression Pumps with Calibrated Gradient
  • Upper Pneumatic Compression Sleeves
  • Lower Pneumatic Compression Sleeves
  • Permanent Inferior Vena Cava Filters
  • Retrievable Inferior Vena Cava Filters
  • Embolectomy Balloon Catheters
  • Percutaneous Thrombectomy Devices
  • Catheter-Directed Thrombolysis (CDT) Devices

By Disease Indication

  • Deep Venous Thrombosis
  • Pulmonary Embolism

By End User

  • Hospitals
  • Catheterisation Laboratories
  • Ambulatory Surgical Centres

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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