Pulmonary Embolism Global Market Report 2024

The global pulmonary embolism market has grown rapidly in recent years. It will grow from $1.81 billion in 2023 to $2.03 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to anticoagulant therapies, research and clinical trials, pulmonary embolism awareness, vte prophylaxis.

The global pulmonary embolism market is expected to see rapid growth in the next few years. It will grow to $3.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to targeted therapies, telemedicine and remote monitoring, health equity initiatives, global health initiatives. Major trends in the forecast period include artificial intelligence in diagnosis, novel anticoagulants, pulmonary embolism response teams, patient-centered care.

The burgeoning prevalence of blood clots is anticipated to be a driving force behind the growth of the pulmonary embolism market in the foreseeable future. Blood clots, medically referred to as thrombi, manifest as gel-like or semi-solid masses within blood vessels. The presence of blood clots escalates the risk of pulmonary embolism by impeding the natural flow of blood to the lungs, causing a blockage. These clots are typically observed in the deep veins of the legs, significantly increasing the likelihood of pulmonary embolism. As an illustration, a Gavi, the Vaccine Alliance article from April 2022 reported a thirty-three-fold surge in the potential occurrence of life-threatening lung clots and a five-fold increase in deep vein thrombosis risk within thirty days after COVID-19 exposure. Consequently, the escalating prevalence of blood clots is a key driver for the growth of the pulmonary embolism market.

The escalating incidence of cancer is expected to act as a catalyst for the expansion of the pulmonary embolism market. Cancer, a complex group of diseases characterized by the uncontrolled and abnormal proliferation of cells in the body, heightens the susceptibility of cancer patients to blood clots, including pulmonary embolism. This heightened risk underscores the growing demand for specialized drugs, diagnostics, and treatment solutions. As an instance, the National Library of Medicine's report in May 2021 projects a global cancer burden of 28.4 million cases in 2040, representing a substantial 47% surge from the figures in 2020, along with a corresponding increase in fatalities. This underscores the pivotal role played by the increasing prevalence of cancer in driving the expansion of the pulmonary embolism market.

The growth of the pulmonary embolism market is impeded by delayed diagnoses during the forecast period. A delay in diagnosing pulmonary embolism (PE) presents a formidable challenge for patients, increasing the risk of mortality and complications, reducing their quality of life, escalating healthcare costs, decreasing treatment demand, and placing a heavier burden on healthcare providers. For example, data from 2022, as per the National Library of Medicine, a biomedical library, indicates that untreated pulmonary embolism patients had a 30% mortality rate, in contrast to 8% among those diagnosed and treated promptly. Consequently, the hindered growth of the pulmonary embolism market can be attributed to delayed diagnoses.

Prominent companies operating in the pulmonary embolism market are dedicated to introducing cutting-edge products such as the Triever16 Curve catheter and the RevCore thrombectomy catheter to maintain a competitive edge. As of June 2023, Inari Medical Inc., a US-based medical device company, has launched the Triever16 Curve catheter and the RevCore thrombectomy catheter. The innovative Triever16 Curve catheter is specially designed for peripheral thrombectomy and pulmonary embolism procedures. Its high trackability and pre-shaped curve facilitate focused aspiration. Moreover, the catheter's unique design offers easy access to larger and more powerful 20F or 24F catheters. On the other hand, the RevCore thrombectomy catheter has been developed for the treatment of venous in-stent thrombosis. This mechanical thrombectomy device utilizes a nitinol basket for capturing and removing blood clots, enhancing the safety and efficacy of pulmonary embolism procedures.

In September 2021, Boston Scientific Corporation, a US-based medical manufacturing company, completed its acquisition of Devoro Medical Inc. for $336 million. This strategic acquisition has enriched Boston Scientific's portfolio by incorporating Devoro Medical's Wolf thrombectomy platform, designed for the removal of blood clots from peripheral blood vessels. The acquisition has further fortified Boston Scientific's position in the competitive market for vascular intervention devices. Devoro Medical Inc., a US-based medical device company specializing in innovative technologies for blood clot removal, significantly contributed to this endeavor.

Major players in the pulmonary embolism market are Pfizer Inc., Johnson and Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck And Co.Inc., Novartis AG, Bayer AG, Sanofi S.A., Bristol Myers Squibb Company, GSK PLC, Abbott Laboratories, AstraZeneca PLC, Medtronic PLC, Eli Lilly and Company, Gilead Sciences Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Mylan N.V., Daiichi Sankyo Co. Ltd., Boehringer Ingelheim International GmbH, Mitsubishi Tanabe Pharma Corporation, Genentech Inc., Hikma Pharmaceuticals PLC, Aspen Pharmacare Holdings Limited, Nippon Shinyaku Co. Ltd., Penumbra Inc., Fresenius Kabi AG, Inari Medical Inc., AngioDynamics Inc., Otsuka Pharmaceutical Co. Ltd.

North America was the largest region in the pulmonary embolism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pulmonary embolism report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pulmonary embolism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain.

The primary types of treatment for pulmonary embolism encompass medications, mechanical devices, surgery, and other therapeutic interventions. Medications are substances used for medical purposes to treat, manage, prevent, or alleviate various medical conditions and illnesses. Diagnosis of a pulmonary embolism involves various methods, including chest X-rays, electrocardiograms (ECGs), magnetic resonance imaging (MRI), computed tomography scans, pulmonary angiography, venography, venous ultrasound, D-Dimer tests, and others. Symptoms may include shortness of breath, chest pain, cough, irregular heartbeat, dizziness, fever, cyanosis, and more. Medications for treating pulmonary embolism are primarily distributed through hospital pharmacies, retail pharmacies, online pharmacies, and other relevant channels. Healthcare providers in hospitals, specialty clinics, homecare settings, and other medical facilities typically manage the treatment of pulmonary embolism.

This report provides pulmonary embolism market statistics, including pulmonary embolism industry global market size, regional shares, competitors with a pulmonary embolism market share, detailed pulmonary embolism market segments, market trends and opportunities and any further data you may need to thrive in the pulmonary embolism industry. This pulmonary embolism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The pulmonary embolism market consists of revenues earned by entities by providing services such as medical management, thrombolytic therapy, monitoring and oxygen therapy services. The market value includes the value of related goods sold by the service provider or included within the service offering. The pulmonary embolism market also includes sales of diagnostic imaging equipment, oxygen delivery devices, interventional devices, medical alert systems and pulse oximeters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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