Selbyville, Delaware , April 28, 2021 (GLOBE NEWSWIRE) --
According to latest report “Venous Thromboembolism Treatment Market by Device (Compression System, Thrombectomy Systems, IVC Filters, Stockings), Application (Deep Vein Thrombosis, Pulmonary Embolism), End-use (Hospitals, Catheterization Laboratories), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of venous thromboembolism treatment will cross $1.5 billion by 2027. Increasing cases of deep vein thrombosis and pulmonary embolism, globally, will spur the market growth.
Venous thromboembolism (VTE) is a condition, wherein blood clot is developed in deep veins of the lower or upper limb, leading to a condition known as deep vein thrombosis. When this clot goes into the circulation and accumulates in the lungs, the condition is called as pulmonary embolism. The market expansion is attributed to high prevalence and adoption of advanced products for better treatment options for fast recovery.
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Growing research and development activities by major market players and rising funding from the government in developed regions will significantly drive the venous thromboembolism treatment market demand in the coming years. Strategic collaborations between government and key market leaders will offer business development opportunities to the market. Additionally, increase in acceptance of venous thromboembolism treatment devices in emerging economies such as China and India among others, will create new avenues. However, higher cost of the research and development, and complications post stent-placement can restrain the market progression.
IVC filters segment captured 15% of the venous thromboembolism treatment market share in 2020. IVC filters help in trapping large clots and prevent them from reaching into lungs and heart, thus reducing the chances of further complications. Increasing prevalence of venous thromboembolsm has escalated the demand for effective treatment for better and faster outcomes. IVC filters are widely used for the treatment of pulmonary embolism in high risk patients to improve the survival rate.
Deep vein thrombosis (DVT) segment accounted for USD 530 million in 2020. DVT is a serious condition formed due to blood clots in deep veins located near thighs and arm. For early recovery and better treatment, healthcare professionals are opting for various novel products such as compression system, IVC filters and stockings among others. Thus, benefits associated with physical and mechanical therapy alternatives will boost the industry expansion during the forecast timeframe.
Hospitals segment in the venous thromboembolism treatment market is projected to experience 8.5% growth rate through 2027 led by availability of better treatment options, easy accessibility to products and presence of skilled workforce. Furthermore, increasing expenditure on healthcare infrastructure in emerging economies and high procedural volume in such well-equipped facilities by patients will foster the segment growth during the forecast timeline.
Asia Pacific venous thromboembolism treatment market is anticipated to grow at a CAGR of 9.2% by 2027. Growing elderly population base contributes to industry progression as elderly people are susceptible to venous thromboembolism. Increasing prevalence of deep vein thrombosis and pulmonary embolism will hence offer significant growth in future. Also, the region is witnessing entry of major market players. Hence, new product development by key firms and rising funding towards sophisticated healthcare infrastructure will positively impact the regional growth.
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Few of the noteworthy companies operating in the market include AngioDynamics, Inc., Boston Scientific Corporation, Cook Medical and Cardinal Health. These industry participants are broadening their market presence by adopting several strategies such as product innovation, augmentation of their services, partnerships and collaborations.
Table of Contents (ToC) of the report:
Chapter 3 Venous Thromboembolism Treatment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016- 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By device
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/venous-thromboembolism-treatment-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.