The Inferior Vena Cava Filters Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Inferior Vena Cava Filters Global Market Report 2024, The inferior vena cava filters market size has grown strongly in recent years. It will grow from $5.14 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to risen incidence of deep vein thrombosis, growth in aging population, preventive measures for pulmonary embolism, advancements in filter designs, awareness programs and medical education.
The inferior vena cava filters market size is expected to see strong growth in the next few years. It will grow to $7.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing surgical procedures and trauma cases, focus on outpatient settings, rise in chronic diseases and comorbidities, global aging population trends, expanded access to healthcare services. Major trends in the forecast period include enhanced thrombus capture capabilities, exploration of alternative anticoagulant therapies, increased collaboration between manufacturers and healthcare providers, continuous regulatory compliance and monitoring, growing awareness and education initiatives.
The increase in the prevalence of venous thromboembolism is expected to propel the inferior vena cava filter market going forward. Venous thromboembolism (VTE) refers to blood clots in the veins that can cause disability and death if not treated. Inferior vena cava filters are devices used to stop the blood clot from traveling to the heart or lungs, thereby preventing venous thromboembolism. For instance, in February 2023, according to statistics published by the Centers for Disease Control and Prevention, a Georgia-based public health agency, about 900,000 people could be affected due to venous thromboembolism. Further, around 60,000 to 100,000 Americans die every year due to venous thromboembolism. Therefore, the increase in the prevalence of venous thromboembolism is driving the growth of the inferior vena cava filter market.
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The inferior vena cava filters market covered in this report is segmented –
1) By Product: Retrievable Inferior Vena Cava(IVC) Filters, Permanent Inferior Vena Cava(IVC) Filters
2) By Material: Non-Ferromagnetic Materials, Ferromagnetic Materials
3) By Application: Treatment Of Venous Thromboembolism (VTE), Prevention Of Pulmonary Embolism (PE), Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Product innovation has emerged as the key trend gaining popularity in the inferior vena cava filter market. Major companies operating in the inferior vena cava filter market are developing new and innovative devices to strengthen their position in the market. For instance, in December 2021, Royal Philips, a subsidy of Koninklijke Philips N.V., a Netherland-based conglomerate corporation, introduced Philips’ CavaClear laser sheath, which is approved by The United States Food and Drug Administration, a US-based government agency. This product uses ultraviolet laser energy to remove tissue and assist in IVC filter removal. The technical success rate of this device is 96%, compared to previous removal methods.
The inferior vena cava filters market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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