The global inferior vena cava filters market is evaluated at US$590.344 million for the year 2019 growing at a CAGR of 8.77% reaching the market size of US$1,063.138 million by the year 2026.
An inferior vena cava filter (IVC) is a medical device that is implanted into the inferior vena cava for deep venous thrombosis (DVT) or pulmonary embolism (PE). It is used in patients who are at high risk of developing a PE and cannot be sufficiently anticoagulated. They can either be permanent or retrievable; the latter though poses a challenge to the market as negligence in timely removal has been a concern. Factors driving the inferior vena cava filter are high increased research and development expenditures, growth in the cardiac devices market, rising healthcare spending in emerging economies, and technology spillover in nascent markets. Geographically, North America and Europe dominate the IVC filter market while the Asia Pacific is a region of high growth.
The prevalence of VTE is on a rise, across the globe. For instance, according to the Centers for Disease Control and Prevention (CDC), even though the precise number of people affected by VTE is unknown, however as many as 900,000 people could be affected (1 to 2 per 1,000) each year in the United States. The Inferior Vena Cava Filter market is anticipated to grow at a high rate owing to this increasing prevalence.
The advent of COVID-19 harmed the market of inferior vena cava during the year 2020. Moreover, a study put forward by Vascular and Interventional Radiology depicts that the number of PE response team (PERT) calls declined significantly during the period. There was an influx of physicians caring for COVID-19 patients who were not used to managing intensive care unit (ICU)–level patients, as there was an immense shortage of the required personnel.
The rise in the demand for retrievable vena cava filters is expected to fuel the market during the forecast period.
Retrievable IVC filters have gradually become a more attractive option owing to the long-term risks of permanent filter placement. These devices are proved to be technically feasible in insertion and retrieval percutaneously while protecting PE. The development of advanced filter retrieval techniques has had a significant impact on the removal of embedded RIVCFs, permitting retrieval of the majority of devices. The approach to retrieving a RIVCF that is embedded or has had an extended implantation time has been significantly impacted by the development of advanced retrieval techniques. A recent study demonstrated that when advanced techniques are employed, RIVCFs can be successfully removed regardless of their dwell time.
|Market size value in 2019||US$590.344 million|
|Market size value in 2026||US$1,063.138 million|
|Growth Rate||CAGR of 8.77% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Product Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||ALN, Argon Medical, B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Braile Biomedica, Cardinal Health, Cook Medical, Volcano Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the inferior vena cava filters market?
A1. The global inferior vena cava filters market is projected to grow at a CAGR of 8.77% over the forecast period.
Q2. What is the size of global inferior vena cava filters market?
A2. Inferior Vena Cava Filters Market was valued at US$590.344 million in 2019.
Q3. What will be the inferior vena cava filters market size by 2026?
A3. The inferior vena cava filters market is projected to reach a market size of US$1,063.138 million by 2026.
Q4. Which region holds the largest market share in the inferior vena cava filters market?
A4. Geographically, North America and Europe dominate the inferior vena cava filters market while the Asia Pacific is a region of high growth.
Q5. What factors are anticipated to drive the inferior vena cava filters market growth?
A5. The rise in the demand for retrievable vena cava filters is expected to fuel the inferior vena cava filters market during the forecast period.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Inferior Vena Cava Filters Market Analysis, by Type
5.2. Occlusion Systems
5.3. Filter Systems
6. Inferior Vena Cava Filters Market Analysis, by Product Type
7. Inferior Vena Cava Filters Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. Argon Medical
9.3. B. Braun Melsungen AG
9.4. Becton, Dickinson and Company
9.5. Boston Scientific Corporation
9.6. Braile Biomedica
9.7. Cardinal Health
9.8. Cook Medical
9.9. Volcano Corporation
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