Global Clot Management Devices Market: Overview
According to an article published in the Journal of Thrombosis and Haemostasis, the awareness about venous thromboembolism (VTE) remains alarmingly low. What makes this scenario more concerning is that nearly 10 million VTE cases are estimated to occur every year across the world making this condition among the leading causes of disability worldwide. The International Society on Thrombosis and Haemostasis, Inc. states that while the United States reports anywhere between 100,000 and 300,000 deaths resulting from VTE every year, this number is as high as 544,000 in Europe. A blood clot is several times more dangerous when it breaks away from the blood vessel wall (where it may have formed) and travels to the heart or lungs, creating a fatal blockage.
However, it is now widely believed that VTE-related hospital death is preventable, as the majority of VTE cases occur during or just after hospitalization. Medical experts are stressing on the use of the right clot management devices and therapeutics so that concerns about VTE as a public health problem can be alleviated. This realization has helped created appreciable demand for clot management devices across the world.
As awareness about deep vein thrombosis and pulmonary embolism rises, it is expected that more people will also become aware about VTE as a condition that could prove fatal if not addressed in time.
Moreover, with approvals for self-monitoring devices coming in a faster rate than before, the global market for clot management devices will gain traction and stay firmly on the growth path in the coming years. In this report, this market is discussed at length and estimates are provided for the best-selling clot management devices. The overall revenue that clot management devices will generate worldwide by 2024 is also projected in the report.
Global Clot Management Devices Market: Drivers and Restraints
Newer approaches to clot management are now receiving greater acceptance among the medical community. This is expected to create a favorable environment for the growth of the global clot management devices market. The demand for effective clot management devices is also increasing because patients are wary of the many risks and discomforts associated with open-heart surgery and other highly invasive procedures. The demand for clot management devices will also rise with many medical surgeons now recommending percutaneous devices as an alternative to open surgeries.
Despite the conditions currently indicating a positive outlook for the global clot management devices market, a gap between the demand and supply of trained physicians in many parts of the world will act against the market’s growth. Moreover, reimbursement policies are not well-defined in many developing countries, which could also hamper the growth of the global clot management devices market.
Global Clot Management Devices Market: Segmentation and Region-wise Outlook
The global market for clot management devices can be broadly segmented on the basis of end users and the type of device used. By device type, the market can be segmented into: Embelectomy balloon catheters, neurovascular embelectomy devices, catheter-directed thrombolysis (CDT) devices, percutaneous thrombectomy devices, and inferior vena cava filters (IVCF).
The demand for percutaneous thrombectomy devices has been rising at a healthy rate over the last few years. It is expected that several new research initiatives exploring new types of percutaneous thrombectomy devices will be reported through the report’s forecast period. By end use, the key segments of the clot management devices market are hospitals and diagnostic centers.
From the geographical standpoint, the global clot management devices market can be split into: North America, Asia Pacific, Europe, and Rest of the World. The United States is projected to remain at the forefront as far as innovation in clot management devices is concerned. Neurovascular embelectomy devices are expected to give the clot management devices market in the U.S. a further upward thrust.
Among the top players in this market are: Straub Medical, Argon Medical Devices, Edwards Lifesciences, DePuy Synthes, and LeMaitre Vascular.
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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