Pulmonary Embolism Market Set to Surpass Key Milestones, According to Persistence Market Research

The global pulmonary embolism (PE) market is witnessing rapid expansion as advancements in diagnostic technologies and treatment modalities reshape the management of this life-threatening condition. In 2024, the market is valued at US$1.5 billion and is projected to reach US$3.5 billion by 2031, expanding at a compound annual growth rate (CAGR) of 8.1% during the forecast period (2024-2031). This impressive growth trajectory reflects rising awareness, the development of minimally invasive therapies, and the introduction of next-generation anticoagulant drugs.

Pulmonary embolism, a condition characterized by a blockage in one or more pulmonary arteries in the lungs, remains a leading cause of cardiovascular morbidity and mortality. The market is being driven by several converging factors: the growing global elderly population, rising incidences of obesity, cancer, and cardiovascular diseases, and increasing demand for faster and safer diagnostic procedures. Technological innovations-such as catheter-directed thrombolysis (CDT), CT pulmonary angiography (CTPA), and AI-assisted imaging tools-are enabling quicker diagnosis and targeted treatment. Among the major regional contributors, North America dominates the market due to its advanced healthcare infrastructure, higher disease prevalence, and concentration of key pharmaceutical and medical device manufacturers.

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Market Statistics and Growth Drivers

According to recent analyses, the pulmonary embolism market has grown steadily from a 7.8% CAGR between 2019 and 2023 to 8.1% expected during 2024-2031, demonstrating sustained progress. The number of patients susceptible to venous thromboembolism (VTE) continues to rise globally, with cancer-related PE cases forming a significant portion of this growth. The World Health Organization reports approximately 10 million deaths related to cancer in 2020, with chemotherapy and sedentary lifestyles exacerbating clot formation risks.

Other significant growth drivers include rising healthcare investments, particularly in emerging economies, and increasing adoption of minimally invasive PE procedures. The growing population of smokers and individuals with chronic conditions, such as hypertension and diabetes, also contributes to the rising prevalence of PE. The demand for early intervention tools and personalized medicine further enhances market momentum, positioning medications as the leading product segment and North America as the dominant regional market due to technological leadership and high per capita healthcare spending.

Key Highlights from the Report

• Market projected to grow from US$1.5 Bn in 2024 to US$3.5 Bn by 2031 at 8.1% CAGR
• North America holds the largest market share due to advanced healthcare infrastructure
• Medications dominate treatment due to ease of use and long-term efficacy
• CT Pulmonary Angiography (CTPA) remains the gold standard for PE diagnosis
• Rising R&D investment and new product launches drive innovation
• Increasing use of AI and telemedicine improves patient monitoring and outcomes

Market Segmentation Analysis

The pulmonary embolism market segmentation is based primarily on product type, end user, and distribution channel, each contributing uniquely to overall market performance.

By Product Type

Medications form the cornerstone of PE management, accounting for the largest revenue share. Anticoagulants and thrombolytic drugs remain the mainstay treatments, preventing clot expansion and promoting natural dissolution. Novel oral anticoagulants (NOACs) such as apixaban and rivaroxaban are gaining popularity due to reduced bleeding risks and simpler administration compared to traditional therapies like heparin and warfarin. Pharmaceutical advancements are now directed toward developing next-generation drugs that minimize complications while enhancing patient compliance.

Mechanical devices and surgical interventions represent smaller but rapidly growing segments. Catheter-directed therapies (CDT) and thrombectomy devices are being increasingly adopted for patients with massive or submassive PE, especially where anticoagulation alone may not suffice. Technologies like AngioDynamics' AlphaVac system and Boston Scientific's EkoSonic Endovascular System are reshaping minimally invasive treatment protocols.

By End User

Hospitals remain the primary centers for diagnosis and treatment of pulmonary embolism, owing to the complexity of managing acute PE cases. The presence of specialized pulmonary and cardiovascular units, advanced imaging systems, and intensive care capabilities gives hospitals a distinct advantage. Post-procedural monitoring and follow-up care further reinforce hospitals' dominant role in this segment.

Meanwhile, hospital pharmacies continue to hold the top spot in the distribution chain. They ensure controlled access to potent drugs, dosage accuracy, and safe medication handling. However, retail pharmacies and online channels are emerging as critical contributors, particularly in the long-term management of PE patients who require continued anticoagulation therapy post-discharge.

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Regional Insights
North America

North America leads the global pulmonary embolism market and is expected to maintain its dominance throughout the forecast period. The region benefits from a strong presence of global pharmaceutical and medical device companies such as Pfizer, Bayer AG, and Johnson & Johnson, which drive innovation and clinical research. High healthcare spending, widespread insurance coverage, and early adoption of novel therapies enhance the region's leadership. The U.S., in particular, shows strong demand for advanced diagnostic imaging and minimally invasive treatments like catheter-directed thrombolysis.

Europe

Europe follows closely, supported by robust healthcare systems in countries like Germany, the U.K., and France. Increasing awareness of VTE management and government initiatives for early disease detection drive growth in this region. European healthcare institutions are also focusing on cost-effective approaches, balancing innovation with accessibility. The region's growing investment in telemedicine platforms further aids in remote monitoring and timely intervention for PE patients.

Asia-Pacific

The Asia-Pacific pulmonary embolism market is poised for the fastest growth, driven by a rising aging population, increased smoking rates, and expanding healthcare infrastructure. Nations such as India, China, and Japan are seeing higher diagnosis rates as medical imaging and specialist access improve. Moreover, cost-efficient treatment options and expanding clinical trial activities are making the region an emerging hub for PE treatment research and device innovation.

Latin America and Middle East & Africa

While smaller in comparison, Latin America and the Middle East & Africa are gradually adopting advanced PE treatment protocols. Increased government spending on healthcare, growing urbanization, and partnerships with international pharmaceutical companies are likely to fuel progress. However, limited awareness and uneven access to specialized care remain challenges in these regions.

Market Drivers

The pulmonary embolism market is underpinned by multiple growth drivers. The rising prevalence of cancer is one of the foremost contributors, as cancer patients undergoing chemotherapy have an elevated risk of blood clots. Additionally, the global increase in obesity and sedentary lifestyles has heightened vulnerability to cardiovascular conditions, indirectly propelling PE incidence.

Technological progress also plays a transformative role. Innovations such as AI-assisted diagnostic imaging, CTPA, and catheter-based interventions enable earlier detection and effective treatment, reducing mortality rates. The increasing demand for minimally invasive procedures with faster recovery times continues to attract both patients and healthcare providers toward advanced PE management solutions. Furthermore, expanding healthcare budgets across developed and emerging economies support wider access to specialized therapies.

Market Restraints

Despite strong growth prospects, the pulmonary embolism market faces notable restraints. The high cost of treatments and medications poses a significant barrier, particularly in developing regions where healthcare spending remains limited. PE management often requires a combination of costly imaging, hospitalization, and follow-up care, creating financial challenges for both patients and healthcare systems.

Another critical restraint is the lack of awareness and education regarding PE symptoms, causes, and available treatment options. Delayed recognition can lead to misdiagnosis or underdiagnosis, particularly in primary care settings. This knowledge gap limits early intervention, which is crucial for improving patient outcomes. Moreover, limited access to advanced diagnostic equipment and trained specialists in low-resource settings further hampers timely treatment delivery.

Market Opportunities

The pulmonary embolism market holds immense potential for innovation and expansion. One of the most promising opportunities lies in increased research and development (R&D) activity focused on novel anticoagulants, thrombolytic drugs, and device-based treatments. Pharmaceutical companies are increasingly pursuing personalized medicine approaches, tailoring therapies based on genetic, metabolic, or lifestyle factors to improve efficacy and reduce side effects.

There is also significant opportunity in the integration of digital health technologies. Telemedicine and remote monitoring are becoming essential tools for post-treatment management of PE patients. These technologies allow for continuous observation of vital signs and medication adherence, reducing the risk of recurrence. Additionally, emerging markets in Asia-Pacific and Latin America offer untapped potential due to expanding healthcare infrastructure and growing awareness of pulmonary disorders.

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Company Insights

Leading companies are actively shaping the competitive landscape of the pulmonary embolism market through continuous innovation, strategic collaborations, and technological integration.

• Bayer AG
• Johnson & Johnson
• Boehringer Ingelheim
• Pfizer Inc.
• Bristol-Myers Squibb
• Amgen Inc.
• AbbVie Inc.
• Anthos Therapeutics
• Astellas Pharma Inc.
• argenx SE
• Daiichi Sankyo Co. Ltd.
• F. Hoffmann-La Roche Ltd.
• Eli Lilly and Co.
• Gilead Sciences Inc.
• Medtronic Plc
• Inari Medical Inc.
• Novartis AG
• Sanofi
• Viatris Inc.
• Takeda Pharmaceutical Co. Ltd.

Market Segmentation

By Symptom

Shortness of Breath
Cough
Chest Pain
Fever
Dizziness
Cyanosis
Irregular Heartbeat
Others

By Diagnosis

MRI
CT Scan
ECG
Chest X-Ray
Pulmonary Angiography
Venous Ultrasound
Venography
D-Dimer Test
Others

By Treatment

Surgery
Medications
Mechanical Devices
Others

By End User

Specialty Clinics
Hospitals
Homecare
Others

By Distribution Channel

Retail Pharmacy
Online Pharmacy
Hospital Pharmacy
Others

By Region

North America
Europe
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

Recent Developments

May 2024 - Catheter-Directed Thrombolysis at BMHRC: A 55-year-old patient successfully underwent a catheter-directed thrombolysis (CDT) procedure, showcasing the effectiveness of targeted, minimally invasive clot-dissolving treatments in pulmonary embolism.

May 2024 - AngioDynamics' AlphaVac Validation: AngioDynamics received confirmation of the safety and efficacy of its AlphaVac system, which significantly improved cardiac function and reduced clot burden in acute PE patients during clinical trials.

January 2024 - AI-Driven Penumbra Flash 12F Catheter: India's Medanta Hospital introduced an AI-powered minimally invasive device that offers improved accuracy, faster clot removal, and reduced blood loss, marking a technological breakthrough in PE therapy.

August 2021 - Boston Scientific EkoSonic Trial: Boston Scientific began a large-scale clinical trial evaluating its EkoSonic Endovascular System, combining ultrasound and thrombolytic medication to shorten treatment time and reduce bleeding risks.

2020-2024 - COVID-19 and PE Correlation Studies: Multiple studies established a link between severe COVID-19 and heightened risk of pulmonary embolism, expanding research focus and treatment protocols for post-COVID patients.

Conclusion

The global pulmonary embolism market is on a decisive growth path, fueled by medical innovation, increasing disease prevalence, and expanding access to advanced healthcare solutions. As the burden of cardiovascular and thromboembolic diseases rises globally, the demand for faster, safer, and more effective treatment options is set to surge. North America will continue to lead due to its technological and infrastructural edge, while Asia-Pacific is emerging as a vital growth frontier with escalating healthcare investments and innovation in medical devices.

Looking ahead, companies that prioritize R&D, patient-centric innovation, and strategic collaborations will be well-positioned to capture emerging opportunities. The growing emphasis on personalized medicine, AI-based diagnostics, and minimally invasive therapies promises to redefine pulmonary embolism management worldwide. With the market expected to nearly double in size by 2031, the future of pulmonary embolism care appears not only promising but transformative.

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