Venous Thromboembolism Treatment Market to be Worth $4.40 Billion by 2030 - Exclusive Report by Meticulous Research®

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
  • U.S.
  • Canada
• 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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