The number of people with clots in the cardiovascular and peripheral vascular systems is rapidly increasing globally. The development of clots in the human body leads to severe conditions such as hypertension, damage to blood vessels, stroke, and can also cause death. The number of patients suffering from Pulmonary Embolism (PE) and Deep Vein Thrombosis (DVT), which are collectively known as Venous Thromboembolism (VTE), is more than the number of patients suffering due to AIDS, cancer, and road traffic accidents.
The major risk factors promoting clot formation inside the body include cancer surgeries; hospitalization; post-surgery inactivity & sedentary lifestyle; and spinal, hip, & knee injuries. Additional factors include age above 60 years, family history of blood clots, chemotherapy, and excessive use of estrogen-based medications.
The economic burden of VTE is quite significant in the U.S and Europe. According to the U.S. CDC estimates,DVT and PE cost the US healthcare system an excess of USD 10 billion per year.
PE and DVT affect nearly 900,000 people in the U.S. Approximately 60,000 to 100,000 Americans die due to VTE and nearly 10% to 30% of the people are expected to die within 1 month of their diagnosis
Nearly 33% of the people with VTE will have a recurrence within 10 years
In the U.S., VTE accounts for over USD 10 billion in medical costs
The growing awareness about various clot management procedures and the various devices used in these procedures is a key factor driving the market growth. The different types of devices used in clot management include percutaneous thrombectomy devices, neurovascular embolectomy devices, balloon catheters, catheter-directed thrombolysis devices, and inferior vena cava filters.
The market for clot management devices is the largest in North America followed by Europe and Asia Pacific. The U.S. alone accounts for a dominant share of over 85% the North American Market. The high quality medical and healthcare infrastructure, high prevalence of the targeted diseases, growing geriatric population, and availability of adequate reimbursements are some of the vital factors that contribute to the dominion of the U.S. in this market.
The emerging countries are expected to play a big role in the market expansion. Increasing awareness about VTE, improvement in the access to advanced healthcare facilities, and high economic development are anticipated to drive the clot management devices market over the forecast period
In-depth report on global clot management devices market by Grand View Research: