Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market Sales Is Accounted for An Absolute Dollar Opportunity of Nearly USD 127.9 Million By 2031

The global transjugular intrahepatic portosystemic shunt (TIPS) industry generated $93.4 million in 2021, and is estimated to reach $127.9 million by 2031, manifesting a CAGR of 3.2% from 2022 to 2031.

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Prime determinants of growth
Increase in government support for management of liver diseases and surge in demand for effective prevention treatment are the major factors that drive growth of the global transjugular intrahepatic portosystemic shunt (TIPS) market. In addition, key players, such as Boston Scientific Corporation, Cook Medical, and Angiodynamics contribute toward the growth of transjugular intrahepatic portosystemic shunt industry.

Furthermore, rise in number of product approvals is expected to provide remunerative opportunities for expansion of the global market during the forecast period. Sedentary lifestyle makes people susceptible to having many disorders such as portal vein thrombosis, and cirrhosis. This disease is associated with high hospitalization rate and substantial cost due to frequent use of this devices. Thus, increase in number of surgeries, owing to rise in cases of chronic liver diseases is expected to increase adoption of transjugular intrahepatic portosystemic shunt (TIPS) products and increase growth of the market.

However, high costs of transjugular intrahepatic portosystemic shunt (TIPS) procedure, limited availability of funds, and dearth of skilled professionals are the factors projected to impede the market growth. Presently, there is an increase in awareness regarding health among people, which, in turn, compels them to maintain their health condition and leads to rise in use of transjugular intrahepatic portsystemic shunt by health professionals in surgical centers. This has encouraged many key players to enter emerging markets, thus offering lucrative growth opportunities in the TIPS market.

Covid-19 Scenario
* The Covid-19 outbreak made a negative impact on the growth of the global transjugular intrahepatic portosystemic shunt (TIPS) market. Lockdown restrictions imposed by the governments and cancellation or postponement of elective surgical procedures in hospitals reduced the adoption ofsurgical devices for TIPS surgery.
* Owing to lockdown restrictions and supply chain disruptions, there were hindrances in manufacturing of various device types such as stents and accessories. However, these hindrances are expected to be overcome and surgeries are expected to continue post-pandemic.

The hospitals segment to maintain its leadership position throughout the forecast period

Based on end user, the hospitals segment accounted for the largest market share in 2021, contributing to around four-fifths of the global transjugular intrahepatic portosystemic shunt market, and is estimated to maintain its leadership position throughout the forecast period. This is due to rise in number of hospital admissions and increase in demand for TIPS devices across hospitals.
However, the specialty clinics segment is expected to manifest the largest CAGR of 3.9% from 2022 to 2031. This is due to surge in demand for special treatment, increase in number of such facilities across developed and emerging countries, and the presence of well-trained medical staff in specialty clinics.

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The portal hypertension segment to continue its leadership status throughout the forecast period
Based on application, the portal hypertension segment held the highest market share in 2021, accounting for more than four-fifths of the global transjugular intrahepatic portosystemic shunt market, and will continue its leadership in terms of revenue throughout the forecast period.

Moreover, this segment is estimated to witness at the largest CAGR of 3.3% from 2022 to 2031. This is attributed to increase in number of cases of portal hypertension and rise indemand for transjugular intrahepatic portosystemic shunt (TIPS) amongpatients. The report also discusses the segments including Budd Chiari Syndrome and others.

North America to continue its dominant share throughout the forecast period.

Based on region, North America held the largest market share in 2021, accounting for more than two-fifths of the global transjugular intrahepatic portosystemic shunt market, and is projected to continue its dominant share throughout the forecast period. This is attributed to rise in number of liversurgeries, the presence of key players, development of the healthcare sector,and offering of innovative TIPS devices in the region. However, Asia-Pacific is estimated to witness at the fastest CAGR of 5.0% from 2022 to 2031, owing to rise in use for lifetime support, development of healthcare infrastructure, and expanding presence of major market players across the region. The research also analyzes regions including Europe and LAMEA.

Leading Market Players
* Boston Scientific Corporation
* Becton, Dickinson and Company
* Angiodynamics, Inc.
* Cook Medical, Inc.
* Neuromedex GmbH
* W.L Gore & Associates, Inc.
* Terumo Medical Corporation

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