Inferior Vena Cava (IVC) Filters Market Size, Share, Growth, and Industry Analysis by Type (Permanent IVC filter, Retrievable IVC filter, Others‎), by Application (Hospitals, Ambulatory surgical centers, Others), and Regional Forecast to 2032

Updated On: 19 August 2024

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INFERIOR VENA CAVA (IVC) FILTERS MARKET REPORT OVERVIEW

The global Inferior Vena Cava (IVC) Filters Market size was USD 673.35 million in 2023 and the market is projected to touch USD 1351.94 million by 2032, exhibiting a CAGR of 7.22% during the forecast period.

Inferior vena cava (IVC) filter is a medicinal method that is planned to deter the movement of blood lumps from the lower body to the lungs and drip the threat of pulmonic embolism. It is a minor and cage-like arrangement that is contrived from metal or synthetic materials. It is presented into the lesser vena cava vein that spreads deoxygenated blood from the lower body to the heart. IVC filter is a minor cone-shaped device, which is fixed in the lower vena cava just beneath the kidneys. These filters are used to detent an embolism, a blood clot that has damaged loose from one of the deep veins in the legs on its mode to the heart and lungs. The increasing number of operations, predominantly orthopaedic and intestinal surgeries, imposes prophylactic measures like IVC filters to preclude postoperative VTE.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies need to stay updated with varying market trends and develop products that meet rising consumer needs. Companies coming up with advanced technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has tremendously affected the complete world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

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INFERIOR VENA CAVA (IVC) FILTERS MARKET SEGMENTATION

• By Type Analysis

According to type, the market can be segmented into permanent IVC filter, retrievable IVC filter, others.

Permanent IVC filter will capture the maximum market share through forecast period.  

Permanent IVC filter: It is used for patients who necessitate enduring prevention of pulmonary embolism and cannot have anticoagulation cure.

Retrievable IVC filter: It is appropriate for patients who need short-term safety from pulmonary embolism.

By Application Analysis

According to application, the market can be segmented into hospitals, ambulatory surgical centers, others

Inferior Vena Cava (IVC) Filters Market players cover segment as hospitals will dominate the market share during forecast period.

Hospitals: Hospitals are the major clients of IVC filters, providing complete care from diagnosis to post-procedure monitoring.

Ambulatory surgical centers: It deal same-day surgical care, comprising IVC filter placement and recovery. It is capable in handling of dealings for patients who do not require prolonged hospital stays.

DRIVING FACTORS

"Increasing Incidence Of Venous Thromboembolism"" To Boost The Market Growth"

Growing occurrence of conditions leading to VTE, such as deep vein thrombosis contributes to higher demand for IVC filters. IVCF is recommended for patients who had a serious venous thromboembolic event (VTE) but cannot obtain anticoagulation. IVCF is also regularly endorsed for patients who are supposed to have failed anticoagulation. Factors like elderly inhabitants, inactive lifestyles, and growing surgical procedure raise VTE risks.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the Inferior Vena Cava (IVC) Filters Market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Improvements in filter plan, supplies, and insertion techniques augment the safety and efficiency of IVC filters.

RESTRAINING FACTOR

"High Cost To"" Hamper The Market Growth"

High costs linked with IVC filter processes comprising device costs and follow-up care can bound their implementation, expressly in regions with fewer developed healthcare infrastructure or limited insurance coverage.

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INFERIOR VENA CAVA (IVC) FILTERS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

"North America to Dominate the Region Due To" "High Prevalence Of VTE & Advanced Healthcare Infrastructure"

North America is further expected to witness growth in the Inferior Vena Cava (IVC) Filters Market share. The region is dominating the market due to high incidence of VTE & progressive healthcare infrastructure. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Argon Medical Devices (U.S.)
• Braile Biomdica (Brazil)
• Cardinal Health (U.S.)
• Boston Scientific Corporation (U.S.)
• Cook Medical (U.S.)

INDUSTRIAL DEVELOPMENT

June 2021:  Healthcare Asia Medtech Awards recognises Boston Scientific Asia for its Rezum technology

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report displays to be an operative tool that performers can use to increase a competitive control over their challengers and certify permanent accomplishment in the market.