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The inferior vena cava is a large vein that carries de-oxygenated blood from the lower body to the heart. An inferior vena cava (IVC) filter is a small, wiry device that can stop blood clots from going up into the lungs. These filters are implanted in the inferior vena cava just below the kidneys during a short surgery. When the filter is in inferior vena cava, the blood flows past the filter and it catches blood clots and stops them from moving up to the heart and lungs. This helps to prevent a pulmonary embolism. Inferior vena cava (IVC) filter placement is most commonly indicated for deep venous thrombosis (DVT) or pulmonary embolism (PE) when anticoagulation therapy is contraindicated.
The major factor that fuels the growth of the global inferior vena cava (IVC) filter market is increase in preference towards minimally invasive surgeries with improved medical imaging across various medical settings coupled with the rapid growth in the geriatric population and the subsequent increase in the prevalence of chronic diseases such as cardiovascular disease. As indicated by United Nation estimate the global population aged 60 years was recorded to 962 million in 2017and is expected to double by 2050, to reach nearly 2.1 billion. Geriatric populace is prone to different chronic illnesses attributable to structural changes in the ageing population, which will increase the demand for Inferior Vena Cava (IVC) Filters. With the aging of worldwide populace, it appears to be likely that Inferior Vena Cava (IVC) Filter market will be progressively in future. On the contrary, high cost of procedures associated with the IVC filters may hinder the growth of the market.
The report analyses the global Inferior Vena Cava (IVC) Filter Market based on product, application, end user and geography.
Based on product, the market is bifurcated into Retrievable IVC Filter And Permanent IVC Filter. The trend of placement of retrievable inferior vena cava filters has increased since their introduction into clinical practice. Retrievable devices are designed to be removed when protection from pulmonary embolism (PE) is no longer indicated. The growth of the Retrievable IVC Filter market is attributed to the fact that removal of retrievable inferior vena cava filters mitigates the risk of filter-related deep venous thrombosis of filter-related deep venous thrombosis.
Inferior Vena Cava (IVC) Filter Market finds application in Treatment Venous Thromboembolism (VTE), Prevent Pulmonary Embolism (PE) and Other. Venous thromboembolism (VTE) is a condition in which a blood clot forms most often in the deep veins of the leg, groin or arm and travels in the circulation, lodging in the lungs. Venous Thromboembolism (VTE) is observed to find a lucrative market growth owing to the high prevalence of the condition. According to International Society on Thrombosis and Haemostasis, approximately 10 million cases of venous thromboembolism occur annually. And 100,000 - 300,000 VTE-related deaths are recorded every year in the U.S. alone.
Inferior Vena Cava (IVC) Filter Market by end user is bifurcated into Hospitals And Ambulatory Surgical Centers (ASC’S) and others. Hospitals segment held the significant market share and anticipated to robust growth during the forecast period owing to the increase in the number of surgeries being performed at hospitals coupled with the availability of advanced healthcare facilities and increasing affordability of treatment due to the rising disposable income. Further, the demand of the ambulatory surgical centre is attributed to the various benefits offered by ambulatory centers such as short stay, cost-effectiveness, reduced risk of hospital acquired infections.
On the basis of region, the Inferior Vena Cava (IVC) Filter Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America is expected to lead the global market due to large demand for the device for cardiovascular disease patients, large geriatric population prone to heart disease, growing geriatric population, presence of sophisticated healthcare infrastructure, healthcare expenditure and high R&D pertaining to drug discovery and development and the strong presence of industry players in the region. Europe holds the second largest position in the market, which is being followed by the APAC region. APAC region expected to witness high growth rates in the global IVC filters market in the next few years due to increasing incidences of heart diseases, growing disposable income increasing awareness regarding the cardiovascular disease and its treatment options and improving healthcare infrastructure in this region.
The major players operating in the Inferior Vena Cava (IVC) Filter Market includes Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, C. R. Bard, ALN, B. Braun Melsungen AG, Braile Biomdica, VENITI, Inc., Argon Medical Devices, Inc., and Koninklijke Philips N.V. (Philips Volcano) among others.
The report analyses the global Inferior Vena Cava (IVC) Filter Market based on product, application, end user and geography.
The market is classified based on product, application, end user, and region. Based on product, the market is divided into retrievable IVC filter and permanent IVC filter. The applications covered in the study include treatment venous thromboembolism (VTE), prevent pulmonary embolism (PE), and others. Further, by end user, the market is bifurcated into hospitals, ambulatory surgical centers (ASCs), and others.
The key players operating in the market are Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, C. R. Bard, ALN, B. Braun Melsungen AG, Braile Biomdica, VENITI, Inc., Argon Medical Devices, Inc., and Koninklijke Philips N.V. (Philips Volcano) among others.
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