Inferior Vena Cava (IVC) Filters Market Market By Technological Development, Applications and Forecast 2023
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The market of inferior vana cava filters is majorly driven by rising incidences of cardiovascular diseases globally. According to World Health Organization, about 17.3 million people died from cardiovascular disease (CVD) in 2008 and the number is expected to reach 23.3 million by 2030. This increase in number of patients diagnosed with cardiovascular diseases across the world will boost the global inferior vena cava filters market. In addition, positive initiatives by government and private organization to increase awareness about this device will drive the market growth of inferior vena cava filters. For example, in May 2014, U.S. Food and drug administration issued post market surveillance study for inferior vena cava filters. This study provides information about the implementation of these filters along with the risk of pulmonary embolism. Thus, these types of efforts will increase the uptake of inferior vena cava filters hence drives the market growth. Moreover, consistent launch of new products by key companies will further drive the market growth of inferior vana cava filters. For example, in January 2014, Argon Medical Devices, Inc. announced that the U.S.FDA has cleared Option ELITE retrievable inferior vena cava (IVC) filter. This device is featured with new over-the-wire delivery technique that enables physicians to safely deliver the filter to a patient’s inferior vana cava by following the path of a guide wire. Thus, these types of introduction will increase the acceptance of these devices and hence stimulates the market growth. However, high cost of the product will hamper the market growth in near future.
The market of global inferior vena cava filters can be segmented on the basis of:
Retrievable Inferior Vena Cava filters
Permanent Inferior Vena Cava filters
Geographically, North America and Europe dominates the global inferior vena cava filters market due to increasing patient population suffering from cardiovascular diseases, lack of physical activity and unhealthy diet. Europe is considered as the second largest market of inferior vena cava filters. The growth of inferior vena cava filters market in Europe is majorly attributed to the aging population. According to Eurostat (European Commission) report published in 2013, around 17.8% of the European population were aged 65 years and above. In addition, India, South East Asia and China are the emerging markets for inferior vena cava filters because of positive initiative by government in Asia-Pacific regions toward healthcare infrastructure.
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Various key players contributing to the global inferior vena cava filters market comprises Baxter International Inc., Fukuda Denshi Co., Ltd., Lidco Group Plc, Accellent, Inc., All Pro Corporation, Arterial Remodeling Technologiesuscome Limited, Biosensors International Group, Ltd., Fudan University Zhongshan Hospital, Cardiva Medical, Inc., 3M Healthcare, Abbott Laboratories and others.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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