Covina , Sept. 13, 2023 (GLOBE NEWSWIRE) -- What is Inferior Vena Cava (IVC) Filter?
Inferior Vena Cava (IVC) Filter are small and wiry device placed in IVC, where the filter catches clots of blood and stops them from moving heart to lungs which helps in preventing pulmonary embolism.
Growing adoption of minimally invasive surgeries and advancement in IVC filter technologies has given positive impact on target market growth. Further, emergence of telemedicine and remote monitoring platform has provided lucrative opportunities in market growth. Presence of major players and growing market consolidation activities to strengthen its position in market is likely to propel Inferior Vena Cava (IVC) Filter market growth over the forecast period.
- NO OF PAGES:182
- BASE YEAR: 2023
The following factors are likely to contribute to the growth of the inferior vena cava market during the forecast period:
- Increasing incidence of Deep Vein Thrombosis (DVT).
- Growing awareness and screening programs for VTE.
- Aging population and associated health risks.
- Rising surgical procedures requiring IVC devices.
- Government initiatives and healthcare reforms promoting IVC usage.
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Key Highlights:
- In January 2020, Argon Medical Devices Inc., launched two inferior vena cava filter retrieval kits ‘Single-Loop’ and ‘Triple-Loop’ for sale in United States. The new launched IVC retrieval kits are used for percutaneous removal of retrievable IVC filters when need for filter is subsided.
Report Scope
| Attributes | Details |
| Inferior Vena Cava (IVC) Filter Market (2022) | US$ 718.3 million |
| Inferior Vena Cava (IVC) Filter Market Projected Value (2032) | 1,972.1 million |
| Inferior Vena Cava (IVC) Filter Market CAGR (2022 – 2032) | 10.0% |
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Inferior Vena Cava Filter Market Segmentation:
- By Product - (Permanent IVC Filter and Retrievable IVC Filter)
- By Application - (Treatment Venous Thromboembolism (VTE), and Prevent Pulmonary Embolism (PE)
- By End User - (Ambulatory Surgical Centers (ASCs) and Hospitals)
Here are some key factors and dynamics that were influencing the IVC filter market:
- Increasing Incidence of Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE): The IVC filter market has historically been driven by the rising incidence of DVT and PE. These conditions can be life-threatening if not treated promptly, and IVC filters are used to prevent blood clots from reaching the lungs.
- Aging Population: As the global population continues to age, there is a growing demographic of individuals at higher risk of developing venous thromboembolism (VTE), which includes DVT and PE. This demographic trend is expected to drive the demand for IVC filters.
- Awareness and Education: Increased awareness of VTE risk factors and the availability of IVC filters as a treatment option can contribute to market growth. Healthcare professionals and patients are becoming more educated about the benefits and risks associated with IVC filters.
- Regulatory Changes: Regulatory changes and guidelines regarding the use of IVC filters can impact the market dynamics. Stricter regulations or updated guidelines may affect the adoption and utilization of these devices.
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Analyst View:
Increase in the prevalence rate of deep vein thrombosis has become major contribution in market growth. Rise in the adoption of IVC filters and increase in the government expenditure in healthcare infrastructure has further fruitful the demand for target market growth. Furthermore, new launched product and growing strategic acquisitions of companies is expected to drive the demand for Inferior Vena Cava (IVC) Filter market growth in coming years.
List of the prominent players in the Inferior Vena Cava (IVC) Filter market:
- Becton Dickinson and Company
- Boston Scientific Corporation
- Cardinal Health
- Cook Medical
- B. Braun Melsungen AG
- Excellent Inc
- Fakuda Denshi co. Ltd.
- Biosensors International Group
- Baxter International Inc.
- Abbott Laboratories
- Volcano Corporation.
Conclusion:
The Inferior Vena Cava (IVC) Filter market was characterized by moderate growth driven by an aging population and rising VTE cases. Technological advancements and regulatory scrutiny were influencing market dynamics, with key players like Cook Medical and Boston Scientific competing in a landscape marked by safety concerns and the need for improved patient selection criteria
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