The growth of the global inferior vena cava filter market can be attributed to the high prevalence of Pulmonary Embolism (PE) across the world. According to the WHO, the incidence of PE is between 0.75 and 2.69 per 1,000 individuals per year globally. Epidemiological studies reported that more than 1 million people in the US are affected by PE annually, with approximately 100,000–200,000 PE fatalities. The overall healthcare expenditure on PE is estimated to be over $1.5 billion per year in the US alone. Factors such as the growth in the aging population, consumption of junk foods, and the growth in the smoking population, the rise in lifestyle-related diseases, including obesity are increasing the prevalence of PE at a steady rate. Hence, the growing demand for optional & retrievable inferior vena cava filters and the increasing availability of innovative approaches for placement/retrieval are expected to drive the growth of the global inferior vena cava filter market. Moreover, the development of advanced devices, including bioconvertible, convertible, and combination IVC filters and central venous catheters is another primary factor driving the uptake of IVC filters worldwide. However, frequent product recalls due to safety concerns, coupled with the stringent regulatory process, are hindering the growth prospect of the global inferior vena cava filter market.
The retrievable & optional inferior vena cava filter market is accounted for major share of 65% in 2019. The RIVCF segment is growing significantly on account of the increasing preference for optional IVCFs as they provide flexibility to remove inferior vena cava filters depending on the patient’s requirement of permanent prophylaxis. Their ease of insertion is encouraging physicians to adopt retrievable ones. However, these devices have higher device-related complications in the long term than permanent ones. Moreover, RIVCFs are more expensive than permanent ones while reimbursement is the same for both.
According to Arizton’s research report :
Inferior vena cava (IVC) filter market size to reach $1.3 billion by 2025, growing at a CAGR of 10% during the forecast period.
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Inferior Vena Cava Filter Market Players and Key Startegies
The global market is characterized by the presence of a few established players holding the majority of the shares. Vendors are offering several permanent as well as retrievable & optional IVC filters. The market players are competing based on factors such as technology, safety features, regulatory approvals, marketing strategies, and distribution channels. Cardinal Health, BD, Cook Medical, B. Braun Melsungen, and Boston Scientific are the key vendors in the market. The market is dominated by major players. Other prominent players are focusing on continuous development with advanced features such as combination, drug-eluting IVC filters. In addition, few investigational companies are also coming into existence with innovative products and technologies.
Key Vendors Included in the Report are
- Cardinal Health
- BD
- Cook Medical
- Braun Melsungen
- Boston Scientific
Other Prominent Vendors
- ALN
- Argon Medical Devices
- Braile Biomédica
- Lifetech Scientific
- Mermaid Medical
The global inferior vena cava market research report includes industry analysis with revenue and forecast insights for the following segments:
Inferior Vena Cava Filter Market by Product
- RIVCFs
- PIVCFs
Inferior Vena Cava Filter Market by End-user
- Hospitals
- ASCs
- OBLs
Inferior Vena Cava Filter Market by Geography
- Europe
- Spain
- Germany
- Italy
- France
- UK
- North America
- US
- Canada
- APAC
- South Korea
- Japan
- Australia
- China
- India
- Latin America
- Brazil
- Argentina
- Mexico
- MEA
- Turkey
- South Africa
- Saudi Arabia
KEY QUESTIONS ANSWERED:
- What are the growth trends, opportunities, and restraints impacting the IVC filter market?
- What are some technological improvements in inferior vena cava filter and healthcare segment?
- What are the strategies of major competitors and their market shares in IVC filter market?
- How will the hospital segment growth be likely in the IVC filter market during the forecast period?
- What is the growth of North America market during the forecast period?
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