Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC2645
Venous thromboembolism (VTE) is a condition in which a blood clot forms most often in the deep veins of the leg, groin or arm and travels in the circulation, lodging in the lungs. VTE can occur without any warning signs or symptoms and can go unrecognized and undiagnosed by a healthcare professional. Symptoms that do appear may be associated with either DVT or PE.
Market Dynamics
Increasing number of patients suffering from cancer and rise in hospital stay due to severe medical condition is resulting in patients susceptible to venous thromboembolism which is increasing demand for innovative treatment of venous thromboembolism among all age patients. This is major factor expected to drive the growth of global venous thromboembolism treatment market. According to U.S. Department of Health and Human Services, in 2020, an estimated 1,806,590 new cases of cancer will be diagnosed in the United States and 606,520 people will die from the disease. VTE can occur without any warning signs or symptoms and can go unrecognized and undiagnosed by a healthcare professional. There were roughly 370,000 PE and 857,000 DVT events in the United States in 2016, according to American Heart Association statistics. PE and DVT kill up to 100,000 Americans each year. Government of developing countries is spending high on development of healthcare infrastructure. Government and drug manufacturer are focused on R&D activities in order to deliver enhanced care to patients suffering from DVT this is expected to impact the growth of venous thromboembolism treatment market.
In 2019, Boston Scientific Corporation, a global medical service provider received approval from FDA for VICI Venous Stent System, indicated for reopening narrowed iliofemoral vein owing to accumulation of blood clots after DVT. The approval augmented the business portfolio of the firm
In 2018, Arjo, a global medical technology company acquired ReNu Medical. The acquisition helped the company to enhance its product portfolio in deep vein thrombosis (DVT) and enhance the business overseas in order to increase the revenue share.
Major players focus towards enhancing the business in developing countries in order to increase the customer base is expected to boost the growth of target market. Factors such as post treatment complication and low awareness among patients related to VTE are factors expected to hamper the growth of global venous thromboembolism treatment market. In addition, lack of developed infrastructure in developing countries for R&D activities is expected to challenge the growth of target market. However, increasing government spending on development of healthcare sector and increasing clinical trials from manufacturers in order to introduce innovative solutions are factors expected to create new opportunities for players operating in the venous thromboembolism treatment market over the forecast period. In addition, increasing partnership and agreements between regional and international players is expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the global venous thromboembolism treatment market due to high patient pool suffering from cancer and other disorder. In 2020, an estimated 16,850 children and adolescents ages 0 to 19 will be diagnosed with cancer and 1,730 will die of the disease. Premature and preventable deaths from pulmonary embolism increased 23% from 2008 to 2018 among people ages 25 to 64, a trend that mirrors a rise in deaths from all causes among this age group. Presence of large number of players operating in the country and focus on introduction of novel therapies is expected to support the revenue growth of venous thromboembolism treatment regional market.
The market in Asia Pacific is expected to witness faster growth in the target market due to increasing awareness among consumers. With the rising COVID-19 cases in the developing countries and healthcare professions dealing with patients suffering from DVT is expected to increasing demand for novel drugs. In addition, increasing government focus on enhancing the regional manufacturing capabilities is expected to augment the growth of venous thromboembolism treatment regional market.
Competitive Landscape
The global venous thromboembolism treatment market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Venous Thromboembolism Treatment Market Segment Analysis, 2019
The global venous thromboembolism treatment market is segmented into device, application, and end use. The device segment is divided into compression system, thrombectomy systems, IVC filters, stockings, and others. Among device the compression system segment is expected to account for noticeable revenue share in the global venous thromboembolism treatment market. The application segment is bifurcated into deep vein thrombosis and pulmonary embolism. Among application deep vein thrombosis segment is expected to account for major revenue share in the target market. The players profiled in the report are Boston Scientific Corporation, AngioDynamics, Cardinal Health, Covidien, Daesung Maref, Cook Medical, and Argon Medical Products.
Market Segmentation
Market By Device
Compression System
Thrombectomy Systems
IVC Filters
Stockings
Others
Market By Application
Deep vein Thrombosis
Pulmonary Embolism
Market By End Use
Hospitals
Catheterization Laboratories
Others
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
Increasing number of patients suffering from cancer and rise in hospital stay due to severe medical condition is resulting in patients susceptible to venous thromboembolism which is increasing demand for innovative treatment of venous thromboembolism among all age patients. This is major factor expected to drive the growth of global venous thromboembolism treatment market.
In device the thrombectomy systems segment is growing at faster pace.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Boston Scientific Corporation, AngioDynamics, Cardinal Health, Covidien, and Daesung Maref.
The North America is expected to account for major revenue share in the global market.
In end use the hospitals segment is growing at faster pace.
Factors such as post treatment complication and low awareness among patients related to VTE are factors expected to hamper the growth of global venous thromboembolism treatment market.
