Pune, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Venous Thromboembolism Treatment Market Size & Growth Analysis
“The Venous Thromboembolism Treatment Market Size was valued at USD 1.05 Billion in 2023 and is expected to reach USD 2.13 Billion by 2032 and grow at a CAGR of 8.50% over the forecast period 2024-2032.“
Venous thromboembolism is a significant health risk, with both conditions, such as deep vein thrombosis and pulmonary embolism, carrying the risk of lethal complications. The condition has received a considerable amount of attention from both medical professionals and vendors due in part to this fact and to the fact that, according to the CDC’s estimates, between 60,000 and 100,000 Americans die from it annually. The treatment landscape has changed notably since a significant number of advanced pharmaceuticals have been developed to prevent and control blood clots. This is an essential achievement as anticoagulants, such as warfarin and novel oral anticoagulants, are often the first-line defense against forming clots that could have lethal results. In rare cases of severe blood clots, drug treatment provides limited benefits and only invasive mechanical devices can save the affected person.
Recent advancements in medical technology resulted in the development of several alternatives that made addressing VTEs more streamlined. Two such alternatives are advanced inferior vena cava filters and thrombectomy devices. Both types of devices are popular due to their enhanced properties compared to their predecessors used in hospitals. Overall, the market is growing due to a combination of new products hitting the shelves and new technologies ensuring that they are out-of-date as a result of intense market competition under such conditions. An example of the opposite effect is complications known to frequently be associated with stents. Specifically, stent rotation or stent infection can lead to several new health complications and may require the use of other medical devices to treat them. In those cases, instead of pursuing other treatment options, it is more beneficial to rely on other means to control VTE-complicated conditions. Thus, the process of market expansion is expected to be somewhat slow as increased awareness of VTE is a slow and evolving process.
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Major Players Analysis Listed in this Report are:
- Merck & Co
- Bristol-Myers Squibb Company
- Bio Compression Systems Inc.
- Upsher-Smith Laboratories Inc.
- Wockhardt Ltd
- Dupont Pharm Co
- Bayer AG
- Abbott Laboratories
- Pfizer Inc
- Boehringer Ingelheim GmbH
- Sanofi
- Johnson & Johnson
- Daiichi Sankyo
- Boston Scientific
- Medtronic
- Inari Medical
Venous Thromboembolism Treatment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.05 Billion |
| Market Size by 2032 | US$ 2.13 Billion |
| CAGR | CAGR of 8.50% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Dynamics
Hospitals hold the largest end-use segment for VTE treatment in 2023, presenting 55% of the market share. Hospitals are the main facility for the management of VTE, due to their availability of in-depth facilities and ability to employ the most advanced diagnostic tools and treatments. The American Hospital Association states that hospitals are integral in urgent care settings, where VTE requires prompt and sophisticated interventions such as anticoagulant administration and thrombectomy. On the other hand, catheterization laboratories, though vital in catheter-based interventions and VTE treatments, compose a smaller market share. These laboratories are only competent for catheter insertion and other related diagnostic precursors to VTE management.
Venous Thromboembolism Treatment Market Key Segmentation:
By Device
- Compression System
- Thrombectomy Systems
- IVC Filters
- Stockings & Others
By Application
- Deep Vein Thrombosis
- Pulmonary Embolism
By End-use
- Hospitals
- Catheterization Laboratories
- Others
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Regional Insights
North America’s venous thromboembolism treatment market share was more than 40%, due to the prevalence of the disease. According to the American Medical Association, nearly 2 million Americans experience deep vein thrombosis annually. Therefore, the prevalence of the condition indicates the urgent need for awareness, diagnosis, and treatment. Thromboembolism is one of the common disorders around the region, and thus the need for timely intervention is crucial. In addition, the highly advanced options for VTE would be the other possible reason more prevalence. The rise in disease count is promoting the considerable focus of the North American healthcare systems on VTE management such as early diagnosis and advanced treatment options. The focus of leading stakeholders is contributing to the increasing market share of the North American region.
Recent Developments
- At the RSNA meeting on November 30, 2023, it was reported that there has been an increase in the use of thrombectomy to treat VTE. Over the past five years, both arterial and venous thrombectomy have seen significant growth in usage, which is an interesting and noteworthy trend in VTE treatment.
- In July 2021, Prof. Jeffrey Weitz reported that in a study of 412 patients, the new VTE treatment abelacimab reduced VTE rates by 80% compared to enoxaparin after total knee arthroplasty (TKA). Weitz also explained that it is an attractive therapy due to its exceptional efficacy and reduced bleeding.
Key Takeaways
- Hospitals accounted for 55% of the market in 2023 because of the higher number of facilities and the availability of highly accurate diagnostic instruments and tools.
- North America holds 40% of the market share in 2023. This is the region with the highest rates of Venous thromboembolism and Pulmonary Embolism. Advanced tools for VTE are the focus of in the US, and, as such, delivery of treatment in North America is convenient, enabling both surgery and early PE.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Drug Volume: Deviceion and usage volumes of pharmaceuticals.
5.4 Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients
6. Competitive Landscape
7. Venous Thromboembolism Treatment Market Segmentation, by Device
8. Venous Thromboembolism Treatment Market Segmentation, by Application
9. Venous Thromboembolism Treatment Market Segmentation, by End-use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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