Venous Thromboembolism Treatment Market revenues will observe approximately 4% CAGR between 2019 and 2029
Venous thromboembolism treatment includes 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, the venous thromboembolism treatment market has been segmented into deep venous thrombosis and pulmonary embolism. Deep vein thrombosis is expected to hold a prominent share in the overall venous thromboembolism treatment market.
Several factors are impacting the overall growth of the venous thromboembolism treatment market. The first and the most important factor driving the venous thromboembolism treatment market 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 venous thromboembolism treatment market.
The increasing number of hospitals and diagnostic centres is expected to boost the venous thromboembolism treatment market. Increasing number of surgical procedures is another factor that is likely to contribute to the growth of the venous thromboembolism treatment market.
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Apart from the driving factors of venous thromboembolism treatment market, 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 venous thromboembolism treatment market.
The increasing preference for drug-based venous thromboembolism treatment is also likely to hinder the growth of the market. New-generation drugs, which include 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. 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 and economic scenario can also lead to significant growth in the venous thromboembolism treatment market.
Some of the key manufacturers of venous thromboembolism treatment are mainly focusing on innovating and launching new and advanced products. Major players in the venous thromboembolism treatment market 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.
North America is expected to be a prominent region in the global venous thromboembolism treatment market 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.
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The report tracks some of the key companies operating in the Venous Thromboembolism Treatment market 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 venous thromboembolism treatment market.
AngioDynamics, Boston Scientific Corp., and Cardinal Health Inc. are expected to hold a prominent share of the Venous Thromboembolism Treatment market. These tier 1 companies hold a share of approximately 35% in the venous thromboembolism treatment market.