Future Market Insights (FMI), a leading market research firm, predicts that the United States is poised to emerge as a major revenue-generating hub for venous thromboembolism treatment. This projection is backed by the presence of highly favorable reimbursement policies that facilitate the treatment of various diseases, encompassing critical procedures such as chemotherapy and thromboembolic therapy within the U.S.
The U.S. healthcare landscape is significantly bolstering the growth of the venous thromboembolism treatment market. Notably, the country provides substantial incentives to medical professionals, including doctors and physicians, to promote the utilization of filters for prophylactic treatments. These conducive factors are expected to foster a substantial upsurge in the sales of venous thromboembolism treatments across the United States.
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The worldwide need for Venous Thromboembolism Treatment Market is poised for consistent growth in the years ahead. According to a recent study by Future Market Insights (FMI), market revenues are anticipated to experience an approximate 3.7% Compound Annual Growth Rate (CAGR) from 2022 to 2029..
More than 3/5th of treatment demand is underpinned by deep venous thrombosis, according to the report. Catheter-directed thrombolysis devices and percutaneous thrombectomy devices, collectively account for more than half of the global revenues represented by the venous thromboembolism treatment market.
Venous thromboembolism treatment involves 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, deep vein thrombosis is expected to hold a prominent share in the overall venous thromboembolism treatment market.
Poor Reimbursement Scenario Against High Treatment Costs to Restrict Adoption
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.
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.
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Drug-based Treatment Witnessing Traction across Europe
Although increasing preference for drug-based venous thromboembolism treatment is highly likely to hinder the growth of the market, new-generation drugs, including 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.
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. 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-economic scenario can also lead to significant growth in the venous thromboembolism treatment market.
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Tier 1 Players Account for Nearly 35% Market Revenue Share
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.
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 in the venous thromboembolism treatment market. These tier 1 companies hold a share of approximately 35% in the venous thromboembolism treatment market.
Venous Thromboembolism Treatment Market by Category By Product:
- Non-Segmented Pneumatic Compression Pumps
- Segmented Pneumatic Compression Pumps without Gradient
- Segmented Pneumatic Compression Pumps with Calibrated Gradient
- Upper Pneumatic Compression Sleeves
- Lower Pneumatic Compression Sleeves
- Permanent Inferior Vena Cava Filters
- Retrievable Inferior Vena Cava Filters
- Embolectomy Balloon Catheters
- Percutaneous Thrombectomy Devices
- Catheter-Directed Thrombolysis (CDT) Devices
By Disease Indication:
- Deep Venous Thrombosis
- Pulmonary Embolism
By End User:
- Hospitals
- Catheterisation Laboratories
- Ambulatory Surgical Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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