Clot Management Devices Market to Grow with a CAGR of 5.01% through 2028
Rising Incidence of Clot-Related Conditions and increase in the aging
population is expected to drive the North America Clot Management Devices
Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “North
America Clot Management Devices Market –Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the North
America Clot Management Devices Market stood at USD 860.31 million in 2022 and
is anticipated to grow with a CAGR of 5.01% in the forecast period, 2024-2028.
The awareness among individuals regarding Clot Management Devices has led to
favorable market conditions for the North America Clot Management Devices
market. Several factors contribute to the growth of various Clot Management
Devices products. The growing Venous
Thromboembolism, which includes conditions like deep vein thrombosis and
pulmonary embolism, is a significant health concern. VTE incidence has been on
the rise, especially in developed economies with aging populations. The elderly
are at a higher risk of developing blood clots, which has led to increased
demand for clot management devices. As the North America population ages, this
driver becomes even more prominent.
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High blood pressure and high cholesterol levels are
key risk factors for the development of cardiovascular diseases and associated
clot formation. High blood pressure can damage arteries, increasing the
likelihood of plaque formation and clotting. Elevated cholesterol levels can
lead to narrowed arteries, further increasing the need for clot management
devices. With millions of adults affected by these risk factors, there is a
substantial market for devices that help manage and prevent clot-related complications.
In October 2023 - REAL-PE Study demonstrates
statistically significant lower major bleeding rates with the EKOS™
Endovascular System Compared to Mechanical Thrombectomy Device for Treatment of
Pulmonary Embolism.
Continuous innovations in clot management devices have
significantly contributed to market growth. These advancements include improved
drug therapies, minimally invasive procedures, and more effective medical
devices. Developments such as catheter-based treatments, novel anticoagulants,
and advanced imaging techniques have enhanced the diagnosis and treatment of
clot-related conditions. These innovations have not only improved patient
outcomes but also expanded the market's scope by offering more effective and
less invasive solutions.
In today's fast-paced world, timely diagnosis and
treatment are essential. Clot management devices, such as advanced imaging
technologies like CT scans and ultrasound, enable healthcare professionals to
identify blood clots quickly and accurately. This speed is critical in
emergencies, such as stroke or pulmonary embolism, where immediate intervention
can save lives. Many clot management devices support minimally invasive
procedures. These techniques involve smaller incisions and less disruption to
the patient's body. They can often be performed on an outpatient basis,
allowing individuals to return to their daily routines more swiftly. In a
fast-paced world, the ability to recover and resume normal activities promptly
is highly valued. Clot management devices play a pivotal role in managing risk
factors associated with blood clots, such as venous thromboembolism (VTE) and
deep vein thrombosis (DVT). Given the fast-paced, sedentary lifestyles and
increased travel in today's world, the risk of clot formation is significant.
Clot management devices, including anticoagulants and filters, assist in
reducing these risks and preventing clot-related complications. The development
of novel anticoagulants, like direct oral anticoagulants (DOACs), has
streamlined the management of clot-related conditions. These medications are
easy to administer, require less frequent monitoring, and are more convenient
for both patients and healthcare providers. In a world where efficiency is
paramount, these advanced medications provide a streamlined approach to clot
management.
As healthcare infrastructure continues to develop North
Americaly, access to advanced medical treatments and devices, including clot
management devices, has become more widespread. Emerging markets in countries
like China, India, and other parts of Asia are actively investing in healthcare
infrastructure and embracing innovative medical technologies. This trend, along
with the presence of a large patient population, is propelling the growth of
the clot management devices market on a North America scale.
In recent times, growing incidence of clot-related
conditions, such as venous thromboembolism (VTE), deep vein thrombosis (DVT),
and pulmonary embolism. This increase can be attributed to factors like
sedentary lifestyles, prolonged travel, and an aging population. Clot management
devices have become essential tools for diagnosing, treating, and preventing
these conditions, addressing the rising demand for their use. Clot management
devices support minimally invasive procedures, which have gained prominence in
recent years. Patients and healthcare providers prefer these procedures due to
their reduced trauma, faster recovery times, and shorter hospital stays. Recent
advances in these devices have made minimally invasive treatments even more
effective, providing better outcomes for patients. Recent times have witnessed
significant advancements in diagnostic imaging technologies. These advanced
imaging techniques, such as CT scans, MRIs, and ultrasound, offer
high-resolution and real-time views of blood vessels and clot locations. This
precision is invaluable for accurate diagnosis and treatment planning, making
clot management devices indispensable. However, the High Development and
Research Costs may hinder market growth. Moreover, challenges related to Market
Competition and Pricing Pressure and Regulatory Hurdles may pose obstacles to
the Clot Management Devices market in the near future.
The North America Clot Management Devices Market is
segmented into product, end-user, regional distribution, and company.
Based on its product, the Percutaneous Thrombectomy
Devices segment has emerged as the predominant market leader, Percutaneous
thrombectomy devices are minimally invasive, meaning they do not require large
incisions or open surgery. Instead, they are introduced into the body through
small punctures or catheters, reducing patient trauma and promoting faster
recovery times. The minimally invasive approach aligns with the modern trend in
healthcare, where patients and healthcare providers increasingly prefer less
invasive procedures to minimize pain, scarring, and hospital stays.
Percutaneous thrombectomy devices have demonstrated high efficacy in the
removal of blood clots. These devices use various techniques, such as
mechanical aspiration, ultrasound, or catheter-based thrombolysis, to break
down or extract clots with precision. Their effectiveness in restoring blood
flow and preventing serious complications like pulmonary embolism or tissue
damage has made them a preferred choice for the treatment of clot-related
conditions.
Based on region, North America segment is expected to
grow during the forecast period. The market's growth can be attributed to
the influence of the aging population in developed economies such as the United
States and Canada. With a significant rise in Venous Thromboembolism (VTE)
cases occurring after the age of 60, the elderly population faces a notably
higher risk of developing blood clots. This places them as a crucial driver of
market demand. Additionally, the increasing incidence of high blood pressure
and elevated cholesterol levels among adults contributes to the dominant
position of the regional market. High blood pressure can harm the walls of
arteries, making individuals more susceptible to the buildup of plaque and the
formation of blood clots. In the U.S., roughly 122 million adults are affected
by high blood pressure, but only a quarter of them have their hypertension
under control. Similarly, elevated cholesterol levels, affecting 25 million
adults with levels exceeding 240 mg/dl, lead to narrowed arteries and an
increased need for clot management devices. The combined factors of a growing
elderly population and the rising prevalence of high blood pressure and
cholesterol highlight the market's dominance in clot management devices.
The Canada market is poised to be the fastest-growing
market, offering lucrative growth opportunities for Clot Management Devices
players during the forecast period. Factors such as the favorable growth in
this market can be attributed to the widespread occurrence of cardiovascular
diseases in countries like China, India, and Japan. This, in turn, fuels the
growing demand for cardiology medical devices used in diagnosis and treatment.
The significant prevalence of CVDs and the associated mortality rates underscore
the necessity for advanced technologies in this geographical region.
Major companies operating in North America Clot
Management Devices Market are:
- Medtronic Inc
- Boston Scientific Corporation
- iVascular SLU
- Teleflex Inc
- Edwards Lifesciences Corporation
- LeMaitre Vascular, Inc
- Vascular Solutions, Inc
- Straub Medical AG
- Cook Medical Inc
- DePuy Synthes Inc
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“The advancement in technology and Rising Incidence of
Clot-Related Conditions are key drivers of the Clot Management Devices market.
In recent years, the growing Continuous technological innovations in clot
management devices play a pivotal role in market growth. These advancements
result in more effective, safer, and user-friendly devices. Innovations in
imaging technology, minimally invasive procedures, and drug therapies improve
patient outcomes and contribute to market expansion. Moreover, the growing
consumer emphasis on preventative healthcare products has enhanced production
and marketing efforts. To meet the demands of the market, manufacturers are
increasingly incorporating cutting-edge technologies with high production
efficiency. Rising consumer acceptance and continuous product innovation will
further ensure the growth of the Clot Management Devices market in the coming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“North America Clot Management Devices Market
–Segmented By Product (Neurovascular Embolectomy Devices, Embolectomy Balloon
Catheters, Percutaneous Thrombectomy Devices, Catheter-Directed Thrombolysis
(CDT) devices, Inferior vena cava filters (IVCF)), By End-User (Diagnostic
Centers, Hospitals), By Region, Competition, Forecast, Opportunities, 2018-2028”, has evaluated
the future growth potential of North America Clot Management Devices Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Clot Management Devices Market.
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