Global Venous Thromboembolism Therapeutic Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Breakthrough treatments in venous thromboembolism drive the Global Venous Thromboembolism Therapeutic Market towards unprecedented growth

The Global Venous Thromboembolism Therapeutic Market is estimated to be USD 1018.93 Mn in 2023 and is expected to reach USD 1511.75 Mn by 2028 growing at a CAGR of 8.21%.

A blood clot in a vein causes a condition known as venous thromboembolism (VTE). Deep vein thrombosis (DVT) and pulmonary embolism are types of VTE (PE). A blood clot in a deep vein, typically in the lower leg, thigh, or pelvis, causes DVT. DVTs can also develop in the arms, particularly if a large intravenous central line is inserted into the vein. A clot that breaks and travels via the bloodstream to the lungs causes a pulmonary embolism. After major surgery, a serious injury, or during times of infection and inflammation, the chance of having VTE is highest.

The prevalence of venous thromboembolism (VTE), including pulmonary embolism and deep vein thrombosis, among patients has increased, making VTE a more important topic in clinical practice. One of the key elements encouraging market expansion is the rising prevalence of pulmonary embolism illness. For instance, the Centers for Disease Control and Prevention estimate that pulmonary embolism affects about 900,000 Americans annually and results in 60,000 to 100,000 fatalities. Treatments like retrievable vena cava filters are being utilized more frequently to prevent the progression of malignant pulmonary embolism since many patients have a high risk of developing more serious venous thromboembolism. This is anticipated to increase market demand for venous thromboembolism therapies.

However, VTE can be challenging to diagnose, and there are several tests that need to be performed to confirm the diagnosis. These tests can be expensive and time-consuming, which can drive up the cost of VTE management. Anticoagulant therapy, which is frequently used to treat VTE, can be costly, especially if the patient needs long-term care. Also, addressing complications that can occur with therapy may incur large costs. New anticoagulant medications and diagnostic techniques are being developed as a result of continuing research and development in the field of VTE therapy. These expenditures for research and development can be substantial and are generally covered by patients and healthcare professionals.

Technological advancements in the field of VTE diagnosis have significantly improved patients outcomes and is expected to boost the market growth in the coming years. Some of these advancements include advanced imaging techniques like Doppler ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI) which can quickly and accurately diagnose VTE with detailed images of blood vessels. Newer compression devices, such as intermittent pneumatic compression (IPC), have been developed which are used to prevent VTE by improving blood flow in legs due to their effectiveness in preventing blood clots.

• VTE can be difficult to identify because its symptoms can be nonspecific and similar to other diseases. As a result, there may be a delay in both diagnosis and treatment, raising the possibility of consequences. Although VTE is treatable, but the treatment can be challenging, particularly if the patient has additional health issues that restrict their options. The primary treatment for VTE, anticoagulants, can have negative effects, therefore patients need to be closely monitored to make sure they are getting the proper dosage. There’s a high risk of recurrence associated with VTE, especially in patients who have had previous VTE. The risk of recurrence needs to be balanced against the risk of bleeding from anticoagulant therapy can be difficult and there can be long-term complications even after the successful treatment such as post-thrombotic syndrome, which can cause pain, swelling, and skin changes in the affected limb.

Market Segmentations

• The Global Venous Thromboembolism Therapeutic Market is segmented based on, Device, Application, End-User, and Geography.
• By Device, the market is classified into Compression Systems, Thrombectomy Systems, IVC Filters, Stockings, and Others.
• Compression Systems has the highest market share likely due to the fact that compression therapy is a non-invasive and cost-effective method for preventing and treating VTE. Compression devices, such as compression stockings, work by applying pressure to the legs to help improve blood flow and prevent blood clots from forming. These devices are often used in combination with other forms of VTE treatment, such as anticoagulant medication.
• By Application, the market is classified into Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE).
• Among all, DVT has the highest market share in Venous Thromboembolism Market due to the increasing cases of obesity globally. Changes in lifestyle and unhealthy diet has become the major factors resulting in obesity, causing the accumulation of fat and cholesterol.
• By End -User, the market is classified into Hospitals, Clinics, Surgical Centers, and Others.
• Hospitals’ end-use segment has the highest market share as hospitals have a well-developed infrastructure which leads to a huge patient base. Major disorders including cancer treated in hospitals and with major surgeries, there is an associated risk of VTE. Therefore, hospitals have the highest demand for VTE products.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa and Asia-Pacific.
• North America has the largest market share among all the other regions. The rise in aging population, early acceptance of new technologies, and surge in demand for progressive treatment choices helping the market to grow in the region. For instance, the prevalence of obesity in the United States went from 30.5% in 1999-2000 to 41.9% from 2017-March 2020, according to the article titled 'Overweight and Obesity'from the United States Centers for Disease Control and Prevention updated in May 2022. This should have a favorable effect on the region's market growth.

Recent Developments

• A novel medicine from Anthos Therapeutics, abelacimab, was granted a fast-track designation by the Food and Drug Administration (FDA) to treat cancer-related thrombosis - July 2022.
• The pharmaceutical company Janssen Pharmaceuticals, Inc., with headquarters in Belgium, announced that the Food and Drug Administration (FDA) had approved its new medicine, XARELTO® (rivaroxaban), for the treatment of deep vein thrombosis and pulmonary embolism - June 2021.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are, AngioDynamics, Inc., Argon Medical Devices, Biocompression Systems, Medtronic Plc, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Venous Thromboembolism Therapeutic Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Venous Thromboembolism Therapeutic Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Venous Thromboembolism Therapeutic Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market