Transjugular Intrahepatic Portosystemic Shunt Market to Hit $127.9 Mn, Globally, by 2031 at 3.2% CAGR: Allied Market Research

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Oct 19, 2022, 08:00 ET

Increase in prevalence of liver disease such as portal hypertension, Budd-Chirai Syndrome, hepatorenal syndrome, and others and development of new TIPS devices by large number of key players drive the growth of the global transjugular intrahepatic portosystemic shunt market.

PORTLAND, Ore., Oct. 19, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market by Device Type (Stents, Accessories), by Application (Portal hypertension, Budd Chiari Syndrome, Others), by End User (Hospitals, Specialty Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global transjugular intrahepatic portosystemic shunt (TIPS) industry generated $93.4 million in 2021, and is estimated to reach $127.9 million by 2031, manifesting a CAGR of 3.2% from 2022 to 2031.

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Prime determinants of growth

Increase in prevalence of liver disease such as portal hypertension, Budd-Chirai Syndrome, hepatorenal syndrome, and others, rise in risk of organ failure, and development of new TIPS devices by large number of key players drive the growth of the global transjugular intrahepatic portosystemic shunt market. Moreover, rise in incidence of portal vein thrombosis and other liver diseases among geriatric population and surge in demand for TIPS surgery due to shortage of organ donors supplement the market growth. Also, rise in number of product approvals creates new opportunities in the coming years.

Covid-19 Scenario

The Covid-19 outbreak made a negative impact on the growth of the global transjugular intrahepatic portosystemic shunt (TIPS) market. Lockdown restrictions imposed by the governments and cancellation or postponement of elective surgical procedures in hospitals reduced the adoption of surgical devices for TIPS surgery.
Owing to lockdown restrictions and supply chain disruptions, there were hindrances in manufacturing of various device types such as stents and accessories. However, these hindrances are expected to be overcome and surgeries are expected to continue post-pandemic.

The hospitals segment to maintain its leadership position throughout the forecast period

Based on end user, the hospitals segment accounted for the largest market share in 2021, contributing to around four-fifths of the global transjugular intrahepatic portosystemic shunt market, and is estimated to maintain its leadership position throughout the forecast period. This is due to rise in number of hospital admissions and increase in demand for TIPS devices across hospitals. However, the specialty clinics segment is expected to manifest the largest CAGR of 3.9% from 2022 to 2031. This is due to surge in demand for special treatment, increase in number of such facilities across developed and emerging countries, and the presence of well-trained medical staff in specialty clinics.

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The stents segment to continue its leadership in terms of revenue throughout the forecast period

Based on device type, the stents segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global transjugular intrahepatic portosystemic shunt market, and will continue its leadership in terms of revenue throughout the forecast period. Moreover, this segment is estimated to register the largest CAGR of 3.5% during the forecast period. This is attributed to strong portfolio for stents with key market players, increase in R&D activities in the medical device industry, and rise in demand for TIPS devices. The report also analyzes the accessories segment.

The portal hypertension segment to continue its leadership status throughout the forecast period

Based on application, the portal hypertension segment held the highest market share in 2021, accounting for more than four-fifths of the global transjugular intrahepatic portosystemic shunt market, and will continue its leadership in terms of revenue throughout the forecast period. Moreover, this segment is estimated to witness at the largest CAGR of 3.3% from 2022 to 2031. This is attributed to increase in number of cases of portal hypertension and rise in demand for transjugular intrahepatic portosystemic shunt (TIPS) among patients. The report also discusses the segments including Budd Chiari Syndrome and others.

North America to continue its dominant share throughout the forecast period

Based on region, North America held the largest market share in 2021, accounting for more than two-fifths of the global transjugular intrahepatic portosystemic shunt market, and is projected to continue its dominant share throughout the forecast period. This is attributed to rise in number of liver surgeries, the presence of key players, development of the healthcare sector, and offering of innovative TIPS devices in the region. However, Asia-Pacific is estimated to witness at the fastest CAGR of 5.0% from 2022 to 2031, owing to rise in use for lifetime support, development of healthcare infrastructure, and expanding presence of major market players across the region. The research also analyzes regions including Europe and LAMEA.

Leading Market Players

Boston Scientific Corporation
Becton, Dickinson and Company
Angiodynamics, Inc.
Cook Medical, Inc.
Neuromedex GmbH
W.L Gore & Associates, Inc.
Terumo Medical Corporation

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