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Pulmonary Embolism Market Report 2024: Global Size, Share, Growth, Trends, Forecast to 2033
Pulmonary Embolism Market Report
According to The Business Research Company's, The pulmonary embolism market size 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 pulmonary embolism market size 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.
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Market Drivers and Trends:
The increasing prevalence of blood clots is expected to propel the growth of the pulmonary embolism market going forward. A blood clot, also known as a thrombus, is a gel-like or semisolid mass that forms within a blood vessel. Blood clots raise the risk of pulmonary embolism by obstructing blood flow to the lungs. This blood clot causes blockage, typically in the legs' deep veins, thus increasing the risk of pulmonary embolism. For instance, in April 2022, according to an article published by Gavi, the Vaccine Alliance, an international organization created to improve access to new and underused vaccines for children, stated that in the 30 days following exposure to COVID-19, scientists discovered a 33-fold rise in the chance of potentially fatal clots in the lungs and a five-fold increase in the risk of deep vein thrombosis. Therefore, an increasing prevalence of blood clots is driving the growth of the pulmonary embolism market.
Major companies operating in the pulmonary embolism market are focused on developing innovative products such as the Triever16 Curve catheter and the RevCore thrombectomy catheter to gain a competitive advantage. For instance, in June 2023, Inari Medical Inc., a US-based medical device company, launched the Triever16 Curve catheter and the RevCore thrombectomy catheter. This innovative Triever16 Curve catheter is designed for peripheral thrombectomy and pulmonary embolism procedures. It is highly trackable and has a pre-shaped curve for focused aspiration. The catheter also features a unique design that allows easy access to larger and more powerful 20F or 24F catheters and the RevCore thrombectomy catheter is designed to treat venous in-stent thrombosis. It is a mechanical thrombectomy device that uses a nitinol basket to capture and remove blood clots. Moreover, these catheters also improve the safety and effectiveness of pulmonary embolism procedures.
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Major Key Players of the Market:
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.
Pulmonary Embolism Market 2024 Key Insights:
• The pulmonary embolism market is expected to grow to$3.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Rising Prevalence Of Blood Clots Fuels Growth In The Pulmonary Embolism Market
• Leading Companies In The Pulmonary Embolism Market Innovate With Advanced Catheter Solutions
• 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.
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