Growth in Patient Awareness about Treatment Fueling the Demand for Venous Thromboembolism Market

Venous thromboembolism (VTE) is the formation of blood clots inside the blood vessel. These clots restrict blood flow through the circulatory system. It is classified into two type’s deep vein thrombosis and pulmonary embolism. Formation of blood clot in a deep vein (generally in the leg) is called deep vein thrombosis. The formed deep vein thrombosis clot break off and travels to the lungs, called as pulmonary embolism. Pulmonary embolism is a serious complication from deep vein thrombosis. It occurs in almost one-third of patients suffering from deep vein thrombosis.

Venous thromboembolism can occur at any age; however, it is common in adults aged 60 and above. People who are overweight, older, whose blood is thicker than normal or suffer from some other diseases such as autoimmune disorders (rheumatoid arthritis, lupus, etc.) or cancer are at a higher risk of venous thromboembolism. Hospitalization due to major trauma (fractures or immobilization) or surgery increases the risk for venous thromboembolism. Up to 60% of venous thromboembolism cases occur during or after hospitalization. Venous thromboembolism equally affects men and women. Globally, venous thromboembolism is the third most common cardiovascular disease and leading cause of death and disability.

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Venous thromboembolism is a life-threatening medical condition that requires immediate medical treatment. Treatment primarily focuses on breaking the clots and preventing further formation of clots. Treatment includes blood thinning agents such as anticoagulants (such as unfractionated and low molecular weight heparin as well as warfarin), mechanical devices (compression stockings), and thrombolytic therapy (tissue plasminogen activator). The venous thromboembolism market is expected to expand in the near future, led by the development of novel oral anticoagulants (NOACs) to overcome the limitation of current treatment options and provide improved patient of care. NOACs are classified into direct thrombin inhibitors (argatroban, dabigatran), which inhibit factor IIa (thrombin), and factor Xa inhibitors (rivaroxaban, edoxaban, apixaban).

NOACs offer major pharmacological benefits over current vitamin K antagonists (heparin or warfarin). These include rapid onset and offset of action, predictable pharmacokinetics, and less drug interactions, which eliminate the need for regular coagulation monitoring associated with conventional anticoagulant therapy. Increase in government expenditure, rise in incidence rate of venous thromboembolism, growth in patient awareness about treatment, and high unmet needs of current treatment options are fueling the venous thromboembolism market. However, complex pathophysiology of the disease, high cost of treatment, and side effects associated with it act as key restraints for the venous thromboembolism market.

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The venous thromboembolism market can be segmented based on disease type, product type, and geography. In terms of disease type, the venous thromboembolism market can be segregated into deep vein thrombosis and pulmonary embolism. The pulmonary embolism segment is estimated to expand more than the deep vein thrombosis segment, as pulmonary embolism is the third most common cause for hospital related deaths. Based on product type, the venous thromboembolism market can be divided into anticoagulants, medical devices, and others. In anticoagulant segment, NOAC’s market is expected to grow because it eliminates the need for regular coagulation monitoring, overcoming the major limitation of current standard of care.

In terms of geography, the venous thromboembolism market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the venous thromboembolism market, followed by Europe, due to the higher incidence and prevalence rate than that in Asia Pacific and Middle East & Africa, increase in demand for advance treatment, and rise in geriatric population in the region. Asia Pacific is an emerging market for venous thromboembolism due to the developing healthcare infrastructure and rising government expenditure in the healthcare industry. However, affordability issues, lack of proper treatment, and poor patient education are factors restraining the venous thromboembolism market in such as Middle East & Africa and Latin America.

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Major players operating in the venous thromboembolism market include Bristol-Myers Squibb Company, Sanofi S.A., Pfizer, Inc., Daiichi Sankyo Co. Ltd., Johnson & Johnson, AbbVie Inc., Merck & Co., and Astellas Pharma Inc.

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