Surging Demand for Venous Thromboembolism Prevention Devices Fuels Market Expansion

The Venous Thromboembolism Treatment Market is projected to reach $4.40 billion by 2030, at a CAGR of 7.2% from 2023 to 2030. 

Venous thromboembolism (VTE) is a condition where blood clots form in the deep veins, usually in the arms or legs, and travel through the bloodstream, potentially causing life-threatening complications. VTE can manifest as deep vein thrombosis (DVT) or pulmonary embolism (PE), both of which hinder blood flow and oxygen delivery, leading to tissue and organ damage. If left untreated, VTE can be fatal. To prevent this, various devices such as thrombectomy devices, compression pumps, and stockings are employed.

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Rising Use of Venous Thromboembolism Prevention Devices

The demand for VTE prevention devices has increased notably in recent years. This rise is driven by the high incidence of VTE, the growing prevalence of secondary risk factors related to vascular diseases, and the increasing preference for minimally invasive treatments. This article explores the causes of VTE and the devices available for its prevention and treatment.

Increasing Prevalence of Venous Thromboembolism

Vascular diseases impact blood flow in the veins and arteries, with venous thromboembolism representing a particularly dangerous condition. DVT occurs when blood clots obstruct deep veins in areas such as the legs, thighs, or pelvis, while PE results when a clot travels to the lungs, severely restricting oxygen flow. VTE is a common condition worldwide, with around 1,220,000 cases annually in the U.S. alone, according to a 2021 report by the American Heart Association.

Despite its high prevalence, awareness of VTE remains low, contributing to unnecessary fatalities. In response, governments and health organizations are launching initiatives to raise awareness. For instance, in June 2022, the Indian Council of Medical Research (ICMR) initiated a National Hospital-based Registry on Venous Thromboembolic Disorders (i-RegVeD) to collect data and improve awareness about VTE in India. Similarly, the International Society on Thrombosis and Haemostasis (ISTH) launched a global campaign in October 2023 to increase awareness of thrombosis-related conditions. These efforts are helping to reduce the global burden of VTE.

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The growth of the venous thromboembolism treatment market is further fueled by an increase in cancer cases, rising secondary risk factors like diabetes and obesity, and the growing number of orthopedic surgical procedures—all of which increase the risk of VTE.

High Growth Potential in Emerging Economies

Developing countries, such as India, China, and Brazil, face challenges in ensuring timely prevention and treatment of VTE due to limited awareness and healthcare infrastructure. In China, a 2022 survey of hematologists found that only 27.3% could correctly identify the risk factors associated with VTE. However, technological advancements and globalization are improving access to advanced VTE prevention technologies in these regions. For example, in August 2022, Wallaby Medical, LLC (U.S.) launched its pRESET thrombectomy device in Brazil for mechanical thrombectomy in patients with acute ischemic stroke.

The high prevalence of VTE in emerging economies is expected to drive demand for treatment and prevention devices.

Advancements in Venous Thromboembolism Diagnosis & Prevention

Recent advancements have significantly improved the diagnosis, prevention, and management of VTE. Noninvasive imaging modalities, D-dimer testing, and clinical prediction rules now allow for quick, cost-effective, and accurate diagnosis. As outpatient surgeries have increased, with approximately 9,100 active outpatient surgery centers in the U.S., there is a growing need for products like compression devices that mitigate the risk of DVT following procedures like hip and knee replacements.

Innovations such as the Clot Knot device, developed by Fox Chase Cancer Center, offer patient-friendly mechanical VTE prevention in outpatient settings by integrating sequential compression devices or stockings into a straightforward recovery routine. Additionally, intermittent pneumatic compression (IPC) devices are widely used post-surgery to prevent DVT by applying pressure around the legs.

AI-powered solutions are also gaining traction for faster and more accurate VTE diagnosis. In November 2021, Viz.ai, Inc. (U.S.) launched AI-powered modules for diagnosing pulmonary embolism and aortic disease. This technology uses deep learning to detect suspected PE within minutes, enhancing diagnostic efficiency.

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Market Insights and Future Projections

According to a report by Meticulous Research®, the venous thromboembolism treatment market is projected to reach $4.40 billion by 2030, with a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030. The market is driven by the rising prevalence of VTE and secondary risk factors such as obesity and diabetes, coupled with the continuous evolution of prevention and treatment technologies.

The North American region is expected to dominate the market in 2023, largely due to the presence of key industry players like Boston Scientific Corporation, Stryker Corporation, and Medtronic plc. These companies have extensive market penetration, enabling the widespread adoption of VTE prevention devices globally.

Conclusion

Rising awareness of VTE, along with an increasing preference for minimally invasive treatments, has fueled the adoption of VTE prevention devices worldwide. Technological advancements, such as portable VTE prevention devices and AI-driven diagnostics, have further propelled market growth. Moreover, government initiatives and the introduction of innovative devices, including thrombectomy devices, compression pumps, and stockings, continue to support the expansion of the venous thromboembolism prevention market.