03 Sep Venous Thromboembolism Treatment Market: The Rising Market For Venous Thromboembolism Treatment Market And Its Newer Therapeutic Drugs In The Market.
Venous Thromboembolism Treatment Market
Venous thromboembolism is a disease caused by the clotting of blood in the blood vessel which leads to restriction of blood flow within the circulatory system. Venous thromboembolism is classified into pulmonary embolism (PE) and deep vein thrombosis (DVT). Deep vein thrombosis is mainly occurred due to the clotting of the blood in the deep vein (commonly in the leg). The symptoms associated with the venous thromboembolism include dilated blood veins in legs and chest, edema, fever, tachycardia, and dyspnea. Lower extremities are the most common site for DVT, but other locations affected include the mesenteric, upper extremities, pelvic veins, and cerebral veins.
The venous thromboembolism market is growing at a significant rate due to increase in geriatric population, a rise in the government expenditure, increase in the incidence of venous thromboembolism are fueling the venous thromboembolism treatment market. Furthermore, increase in surgical procedures such as hip and knee replacements that are risk factors for venous thromboembolism conditions, growing patient awareness are expected to boost the growth of venous thromboembolism market. However, a high cost of deep vein thrombosis treatment, high unmet needs of currently available treatment procedures, and adverse effects associated with drugs hamper the market growth. Similarly, stringent regulatory approvals, the presence of alternatives treatments such as thrombectomy and percutaneous techniques are hindering the growth of venous thromboembolism market.
The global venous thromboembolism therapeutic market is divided into following categories-
- Drug type
- Factor Xa inhibitors
- Thrombolytic therapy
- Plasminogen activators
- Disease type
- Deep vein thrombosis
- Pulmonary embolism
Hospital pharmacies, Online Pharmacies and retail pharmacies.
And lastly on the basis of geographical regions, global venous thromboembolism (VTE) treatment market has been divided into five major regions- North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. North America holds the largest share in the venous thromboembolism market owing to increased cases of venous thromboembolism, rise in demand for advanced treatments, an increase in aging population in this region. Asia-Pacific is a key region for venous thromboembolism therapeutic market due to increase in the government expenditure and healthcare infrastructure. However, a high cost of the treatment and low awareness regarding venous thromboembolism (VTE) treatment market among key stakeholders are the key factors hindering the market growth in Latin America and the Middle East and Africa regions.
Some of the key players in global venous thromboembolism (VTE) treatment market are Sanofi (France), Pfizer Inc. (U.S.), Daiichi Sankyo Co. Ltd. (Japan) , Bristol Myers Squibb (U.S.), Johnson & Johnson Services, Inc. (U.S.), AbbVie Inc. (U.S.), Merck & Co. (U.S.), Astellas Pharma Inc. (Japan), Sawai Pharmaceuticals Co. Ltd. (U.S.), Abbott Laboratories (U.S.), Wockhardt Ltd (India), Bayer AG (Germany), and Dupont (U.S.) to name a few. In 2017, USFDA granted priority review of Xarelto (Rivaroxaban) NDA for a 10 mg dose to reduce the risk of recurrent venous thromboembolism.
The most commonly adopted strategies by industry players include new product launches with technological innovations, new product approvals, acquisitions & mergers, agreements, and collaborations to capture significant venous thromboembolism treatment market share. For e.g. in 2017, The Apex trial reported that extended use of Betrixaban beyond the parenteral prophylaxis with Enoxaparin reduces the venous thromboembolism incidence among the patients. Similarly, in 2011, Eliquis (Apixaban) was approved in Europe for preventing venous thromboembolism after elective knee or hip replacement.