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Inferior Vena Cava (IVC) Filters - Global Market Trajectory & Analytics

  • ID: 4805790
  • Report
  • March 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • B. Braun Melsungen AG
  • Cook Medical, Inc.

Global Inferior Vena Cava (IVC) Filters Market to Reach $1.1 Billion by 2026


Inferior vena cava filters are vascular filters intended to be implanted into inferior vena cava for preventing life-threatening pulmonary embolism (PE). Growth in the market is set to be fueled by rising incidence of cardiovascular conditions and robust demand for minimally-invasive techniques. The inferior vena cava filters market is bolstered by rising cases of VTE or PE as a result of increasing aging population, sedentary lifestyles and lifestyle-related conditions. These factors are creating high demand for retrievable or optional filters along with approaches to effectively place and retrieve these filters. The market growth is also buoyed by increasing preference for minimally-invasive surgeries, mainly for cardiovascular conditions, and favorable reimbursement policies in both developed and developing regions. The inferior vena cava filters market is also benefitting from advances in healthcare technology and introduction of sophisticated devices including convertible, combination and bio-convertible filters as well as central venous catheters.

Amid the COVID-19 crisis, the global market for Inferior Vena Cava (IVC) Filters estimated at US$683.5 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 8.1% over the analysis period. Retrievable, one of the segments analyzed in the report, is projected to grow at a 8.5% CAGR to reach US$772.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Permanent segment is readjusted to a revised 7.2% CAGR for the next 7-year period. This segment currently accounts for a 36.2% share of the global Inferior Vena Cava (IVC) Filters market. The availability of optional or retrievable filters, in particular, has increased filter placement rates as well as spurred the expansion of indications for filter placement. The number of filter placements has witnessed a steady increase in the US. Growth in the permanent inferior vena cava filters segment is due to cost-effectiveness of these devices and rising cases of venous thromboembolism (VTE). These filters are suitable options for patients requiring lifelong protection owing to their efficiency and lower risk. The segment is also poised to benefit from availability of advanced retrieval techniques to remove these filters.

The U.S. Market is Estimated at $290.4 Million in 2021, While China is Forecast to Reach $111.4 Million by 2026


The Inferior Vena Cava (IVC) Filters market in the U.S. is estimated at US$290.4 Million in the year 2021. The country currently accounts for a 39.74% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$111.4 Million in the year 2026 trailing a CAGR of 10.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR while Rest of European market (as defined in the study) will reach US$122.5 Million by the end of the analysis period. The US market is driven by considerably high healthcare expenditure, and increasing adoption of advanced technology, robust healthcare infrastructure, presence of leading players and investments in R&D for finding new treatments for cardiovascular conditions. Growth in the European region is being driven by rising cases of pulmonary emboli (PE), increasing aging population, high healthcare spending and growing acceptance of advanced filters. Improvement in healthcare infrastructure, large number of related patients, and continuously growing healthcare expenditure augment demand for IVC filters in the Asia-Pacific region.

Select Competitors (Total 10 Featured) -

  • Argon Medical Devices, Inc.
  • B. Braun Melsungen AG
  • BARD, A Becton, Dickinson Company
  • Boston Scientific Corporation
  • Cook Medical, Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • B. Braun Melsungen AG
  • Cook Medical, Inc.
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • Medical Equipment & Supplies Market COVID-19 Impact, Market Reset & the New Normal
  • COVID-19 Impact: Inferior Vena Cava Market to Regain Momentum after Brief Hiatus
  • Rising Prevalence of Cardiovascular Conditions Drives Inferior Vena Cava Filters Market
  • Retrievable Inferior Vena Ceva Filters Constitute the Largest Segment
  • Select FDA Approved Retrievable IVC Filters
  • Permanent Filters Hold a Significant Share
  • Select FDA Approved Permanent IVC Filters
  • The US Holds Commanding Position in Global Inferior Vena Cava Filters Market
  • Developing Regions to Present Increased Growth Opportunities
  • Hospitals Account for an Enviable Market Share
  • End-use Analysis
  • Competitive Landscape
  • EXHIBIT 2: Market Share of Leading Players in Global Inferior Vena Cava Filter Market: 2019
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Rising Incidence of Deep Vein Thrombosis Drive Demand for Inferior Vena Cava Filters
  • Increasing Incidence of Pulmonary Embolism Spurs Need for Inferior Vena Cava Filters
  • Growing Demand for Minimally Invasive Surgeries Propels Market Growth
  • Growing Aging Population Bodes Well for Inferior Vena Cava Filters Market Growth
  • EXHIBIT 3: Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • EXHIBIT 4: Life Expectancy at Birth for Select Countries in Number of Years
  • Rising Incidence of Cardiovascular Diseases Propels the Demand for Inferior Vena Cava Filters Market
  • EXHIBIT 5: Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
  • EXHIBIT 6: Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Expanding Indications for IVC Filters
  • Significant Decrease in IVC Filter Implantations post FDA Safety Communication
  • Innovative Approaches for IVC Filter Placements/Retrievals
  • Technological Advances to Buoy Installations
  • Expensive Nature of Devices & Low Awareness Inhibit Growth
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

BRAZIL

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 10

Note: Product cover images may vary from those shown
  • Argon Medical Devices, Inc.
  • B. Braun Melsungen AG
  • BARD, A Becton, Dickinson Company
  • Boston Scientific Corporation
  • Cook Medical, Inc.
Note: Product cover images may vary from those shown
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