According to this latest publication, the global venous thromboembolism (VTE) treatment market is projected to reach $4.40 billion by 2030, growing at a CAGR of 7.2% from 2023 to 2030. The increasing prevalence of venous thromboembolism, rising cancer incidence, growing secondary risk factors such as diabetes and obesity, an uptick in orthopedic surgeries, and the rising demand for minimally invasive procedures are the primary drivers of market growth. Additionally, improved accessibility and affordability of treatments, advancements in VTE diagnosis and treatment methods, and market expansion in emerging economies present substantial growth opportunities.
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Market Challenges
Despite the promising growth trajectory, the market faces challenges, including product failures and recalls. A significant challenge is the lack of awareness about venous thromboembolism and the increasing awareness of potential side effects associated with compression garments.
Key Players
The key players profiled in the venous thromboembolism treatment market report are ALN Implants chirurgicaux (ALN Surgical Implants) (France), AngioDynamics, Inc. (U.S.), Argon Medical Devices, Inc. (U.S.), ArjoHuntleigh AB (Sweden), Boston Scientific Corporation (U.S.), Cardinal Health, Inc. (U.S.), Cook Group Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), DS MAREF Co., LTD (South Korea), Enovis Corporation (U.S.), LifeTech Scientific Corporation (China), Medtronic plc (Ireland), and Stryker Corporation (U.S.).
The global VTE treatment market is segmented by device, application, end user, and geography:
Device Segment: In 2023, thrombectomy devices are expected to hold the largest market share. These devices are critical for removing blood clots in severe conditions like acute ischemic stroke, pulmonary embolism, deep vein thrombosis, and VTE. The dominance of this segment is driven by the increasing prevalence of cardiovascular diseases, the growing preference for minimally invasive procedures, and the introduction of new thrombectomy devices. Notably, AngioDynamics, Inc. received FDA clearance for its AlphaVac Mechanical Thrombectomy System in July 2021.
Application Segment: The deep vein thrombosis (DVT) segment is anticipated to account for the largest market share in 2023. Factors contributing to this include the aging population, rising obesity rates, lifestyle-related disease prevalence, and increasing awareness and early diagnosis of DVT. According to WHO, over 1 billion individuals globally were obese in 2021, a figure expected to rise significantly by 2025.
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End User Segment: Hospitals are projected to be the largest end-user segment in 2023, driven by the high prevalence of VTE, the increasing number of healthcare facilities, skilled professionals, and high purchasing power. Hospitals’ comprehensive service offerings and advanced treatment technologies also contribute to their market dominance.
Geographic Insights
The report provides a detailed analysis of major geographic regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to lead the market in 2022, followed by Europe. However, the Asia-Pacific region is set to register the highest CAGR during the forecast period due to increasing chronic disease prevalence, sedentary lifestyles, rising healthcare expenditures, supportive government initiatives, and heightened VTE awareness.
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