Global Inferior Vena Cava Filters Market
Inferior Vena Cava Filters Market is a device implanted in inferior vena cava, the largest vein in the human body. The inferior vena cava filter is inserted below the kidneys to prevent the risk of pulmonary embolism (PE) and deep vein thrombosis (DVT) when anticoagulation therapy is contraindicated in the patients. The inferior vena cava filters are work by permitting the blood flow around the trapped clot. The commercially available inferior vena cava filters include temporary filters and pulmonary filters.
Inferior vena cava filters market is driven by the increase in the prevalence of various cardiac ailments, rise in the R&D activities increase in the government support, an increase in the technological advancements with improved medical imaging are anticipated to drive the growth of inferior vena cava filters market over the forecast period. In addition, the launching of new products, an involvement of market players for increased awareness among the key stakeholders, and minimally invasive procedure for the implantation might fuel the growth of inferior vena cava filters market. However, stringent regulatory guidelines, a high cost of the device, and lack of awareness regarding IVC filters in developing countries might hamper the growth of inferior vena cava filters market.
Inferior vena cava filters market is segmented on the basis of product type and end user
Based on the product type, inferior vena cava filters market segmented into the following:
- Permanent IVC filter
- Retrievable IVC filter
Based on the end user, inferior vena cava filters market is segmented into the following:
- Ambulatory surgical centres
Global inferior vena cava filters market is growing at a healthy CAGR owing to increase in the prevalence of deep vein thrombosis. According to the International Society of Thrombosis and Haemostasis, Inc. (ISTH), approximately 10 Mn cases of venous thromboembolism occur annually around the globe. The most commonly adopted strategies by industry players include new product launches with technological advances, new product approvals, acquisitions & mergers, agreements, and collaborations to capture significant venous thromboembolism market share. For instance, in December 2012, Volcano Corporation acquired Crux Biomedical for developing its inferior vena cava product portfolio. Similarly, in April 2013, Argon Medical Devices, Inc. has acquired Angiotech Interventional Business for the development of inferior vena cava product portfolio. Moreover, favourable initiatives by the regulatory bodies also expected to boost the inferior vena cava market. For instance, in May 2014, FDA released the post-market surveillance of IVF filters which provides the implementation of filters and risk of pulmonary embolism.
Geographically, inferior vena cava filters market has been segmented into following regions Viz. North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. North America anticipated to hold the largest share in the IVC filters market owing to increase in the incidence venous thromboembolism (According to U.S. International Society on Thrombosis and Haemostasis, Inc. (ISTH) there are around 100,000 to 300,000 venous thromboembolism related deaths reported annually), and prevalence, rise in demand for advanced treatment, an increase in aging population in the North America region. A rise in healthcare expenditure, growing awareness regarding IVC filters, an increase in the prevalence rate of deep vein thrombosis in the Europe region expected to drive inferior vena cava filters market growth over the forecast period. Asia-Pacific is a key region for inferior vena cava filters market due to rise in the adoption of IVC filters, increase in the government expenditure and healthcare infrastructure. However, the high cost of the IVC filters, lack of skilled professionals, and low awareness regarding inferior vena cava filter among key stakeholders are the key factors hindering the venous thromboembolism market in Latin America and the Middle East and Africa.
Some of the players in inferior vena cava (IVC) filter market are Accellent, Inc. (U.S), Biosensors International Group, Ltd. (Singapore), Fukuda Denshi Co., Ltd. (Japan), Baxter International, Inc. (U.S). Boston Scientific Corporation (U.S), Cardinal Health, Inc. (U.S), Argon Medical Devices (U.S), Abbott Laboratories (U.S), B. Braun Melsungen AG (Germany), Medtronic plc (Ireland), and Volcano Corporation (U.S) to name a few.
- In April 2013, Argon Medical Devices launched the OptionElite retrievable inferior vena cava filter into the U.S. market
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