Global Venous Thromboembolism Treatment Industry Surpasses US$1.91 Billion with a 3.7% CAGR between 2022 and 2029

The Global Venous Thromboembolism Treatment Industry is set to experience consistent growth in the coming years, according to a recent study conducted by Future Market Insights (FMI). The research indicates that market revenues are expected to demonstrate an approximate Compound Annual Growth Rate (CAGR) of 3.7% between 2022 and 2029.

Venous Thromboembolism, a medical condition characterized by the formation of blood clots in deep veins, is a significant concern in the healthcare landscape. The FMI study highlights that more than 60% of the demand for VTE treatment is attributed to deep venous thrombosis, underlining the pressing need for effective treatment solutions in this domain.

Venous thromboembolism treatment involves segmented pneumatic compression pumps without gradient, segmented pneumatic compression pumps with calibrated gradient, lower pneumatic compression sleeves, non-segmented pneumatic compression pumps permanent inferior vena cava filters, retrievable inferior vena cava filters, embolectomy balloon catheters, percutaneous thrombectomy devices, catheter-directed thrombolysis (CDT) devices and upper pneumatic compression sleeves. Based on the disease indication, deep vein thrombosis is expected to hold a prominent share in the overall Global Venous Thromboembolism Treatment Industry.

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Poor Reimbursement Scenario Against High Treatment Costs to Restrict Adoption

Several factors are impacting the overall growth of the Global Venous Thromboembolism Treatment Industry. The first and the most important factor driving the Global Venous Thromboembolism Treatment Industry is the increasing prevalence of venous thromboembolism disease. Other factors, such as the increasing retrieval rate of vena cava filters, increasing healthcare awareness, presence of favourable reimbursement policies, and increasing geriatric population, are also responsible for the growth of the Global Venous Thromboembolism Treatment Industry.

Apart from the driving factors of the Global Venous Thromboembolism Treatment Industry, there are few factors that are likely to hinder the overall growth of the venous thromboembolism treatment market. The high cost associated with venous thromboembolism treatment therapy, poor reimbursement for some of the treatment devices, and poor insurance support are among the major factors that are expected to hamper the growth of the Global Venous Thromboembolism Treatment Industry.

Drug-based Treatment Witnessing Traction across Europe

Although increasing preference for drug-based venous thromboembolism treatment is highly likely to hinder the growth of the market, new-generation drugs, including non-Vitamin K antagonist oral anticoagulants (NOACs) such as dabigatran, rivaroxaban, apixaban, and edoxaban, are estimated to boost the adoption rate of venous thromboembolism treatment due to increased efficacy. However, there are regional variations to this trend.

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North America is expected to be a prominent region in the Global Venous Thromboembolism Treatment Industry because of the presence of a well-developed healthcare infrastructure and numerous technological advancements in the region. The increasing prevalence of venous thromboembolism is also responsible for the boosting the growth of the North America market. Treatment using mechanical and interventional prophylaxis systems is expected to be increasingly adopted in the North American region during the forecast period. In addition, drug-based treatment is expected to gain popularity in the European region, which is expected to subsequently decrease the usage of mechanical and interventional treatments in the region.

On the other hand, increasing per capita healthcare expenditure is one of the macroeconomic factors that is likely to boost the market. Nowadays, certain changes in the socio-economic scenario can also lead to significant growth in the Global Venous Thromboembolism Treatment Industry.

Tier 1 Players Account for Nearly 35% Market Revenue Share

Some of the key manufacturers of venous thromboembolism treatment are mainly focusing on innovating and launching new and advanced products. Major players in the Global Venous Thromboembolism Treatment Industry are focusing on collaborations and acquisitions. For example, venous thromboembolism treatment is majorly adopted by hospitals, catheterisation laboratories, and ambulatory surgical centres. Hospitals are expected to hold a significant revenue share in the venous thromboembolism treatment market.

The report tracks some of the key companies operating in the Global Venous Thromboembolism Treatment Industry such as ArjoHuntleigh AB, AngioDynamics, Cardinal Health Inc., BTG International Ltd., Stryker Corporation, DJO Global Inc., EKOS Corp, and Teleflex Inc., Boston Scientific Corp. There are several other companies operating in the Global Venous Thromboembolism Treatment Industry. AngioDynamics, Boston Scientific Corp., and Cardinal Health Inc. are expected to hold a prominent share in the venous thromboembolism treatment market. These tier 1 companies hold a share of approximately 35% in the Global Venous Thromboembolism Treatment Industry.

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Global Venous Thromboembolism Treatment Industry by Category 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 Centers

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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