PUBLISHER: The Business Research Company | PRODUCT CODE: 1415748
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415748
“Venous Thromboembolism Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on venous thromboembolism market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for venous thromboembolism? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The venous thromboembolism market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Venous thromboembolism (VTE) is a medical condition marked by the development of blood clots within the veins, carrying the potential for serious or life-threatening complications. Common indicators of VTE encompass symptoms like leg pain and swelling, rapid breathing, chest discomfort, and more. Diverse treatment methods, including anticoagulant medications, medical devices, and thrombolytic therapy, are employed in managing VTE.
The primary categories of venous thromboembolism consist of deep vein thrombosis, pulmonary embolism, and other related conditions. Deep vein thrombosis (DVT) represents a medical condition characterized by the development of blood clots within the deep veins of the body. Treatment options encompass the use of anticoagulant medications, mechanical devices, thrombolytic therapy, and various other interventions. These treatments cater to diverse end-users, including hospitals, homecare settings, specialty centers, and other relevant healthcare facilities.
The venous thromboembolism market research report is one of a series of new reports from The Business Research Company that provides venous thromboembolism market statistics, including venous thromboembolism industry global market size, regional shares, competitors with a venous thromboembolism market share, detailed venous thromboembolism market segments, market trends and opportunities and any further data you may need to thrive in the venous thromboembolism industry. This venous thromboembolism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The venous thromboembolism market size has grown steadily in recent years. It will grow from $2.33 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to aging population, advancements in anticoagulants, reimbursement policies, increasing investments.
The venous thromboembolism market size is expected to see steady growth in the next few years. It will grow to $2.87 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to global healthcare access, genetic risk assessment, telemedicine and remote monitoring, patient education and support. Major trends in the forecast period include extended thromboprophylaxis, novel oral anticoagulants, personalized treatment plans, advanced diagnostic imaging.
The anticipated growth in the venous thromboembolism market is underpinned by the expansion of healthcare infrastructure. The healthcare industry encompasses the amalgamation of various sectors dedicated to offering products and services for patient treatment, prevention, rehabilitation, and palliative care. This expansion facilitates the development of institutional infrastructure, the implementation of policies and practices, and educational initiatives necessary for supporting the effective execution of VTE prevention protocols. For instance, in May 2023, the number of hospitals in the US increased to 6,129 from 6,093 in 2022, according to the American Health Care Association. Moreover, healthcare spending in the UK saw a significant increase of 9.4% in nominal terms and 9.7% in real terms between 2020 and 2021, as reported by the Office for National Statistics. Consequently, the growth of the healthcare industry is a driving force behind the venous thromboembolism market's expansion.
The growth of the venous thromboembolism market is further bolstered by the escalating number of orthopedic procedures. Orthopedic procedures encompass various surgical interventions used to address conditions affecting the spine, joints, and skeletal deformities. Procedures like total knee arthroplasty (TKA), total hip arthroplasty (THA), and hip fracture surgery (HFS) are associated with a heightened risk of VTE, leading to an increased adoption of compression devices for DVT prophylaxis. Compression devices serve to prevent the formation of blood clots in the deep veins of the legs, mitigating the risk of venous thromboembolism (VTE). For instance, research published by the National Library of Medicine in February 2023 indicates that THA and TKA procedures are projected to rise significantly, with 1,222,988 and 719,364 procedures, respectively, anticipated by 2040. Moreover, TKAs are estimated to reach 2,917,959 by 2060, while THAs are projected to total 1,982,099 by that time. Consequently, the mounting number of orthopedic procedures is a significant driver of the venous thromboembolism market's growth.
The venous thromboembolism market faces the restraint of high research and development costs, potentially hindering its future growth. The costs associated with VTE treatment can be substantial, limiting accessibility for certain patients. This is particularly relevant for newer treatments like novel oral anticoagulants (NOACs), which can be pricier than traditional anticoagulants. As per an article published in Springer, recent analyses indicate that the average cost of a VTE event varies between $12,000 and $15,000 per patient, resulting in an annual projected healthcare system cost of $7-10 billion in the United States. Consequently, the substantial treatment costs serve as a significant restraint on the venous thromboembolism market.
Leading companies within the venous thromboembolism market are spearheading the development of innovative anticoagulant drugs and solutions to maintain their market positions. Advances in anticoagulants hold the potential to yield more effective drugs capable of preventing or treating venous thromboembolism. For example, in September 2022, Anthos Therapeutics, a US-based clinical-stage biotherapeutics company, secured regulatory approval for its abelacimab anticoagulant medication from the Food and Drug Administration (FDA). This fully human monoclonal antibody is indicated for stroke and systemic embolism prevention in atrial fibrillation patients. The newly developed abelacimab, a once-monthly dual-acting antibody, is designed to provide hemostasis-sparing anticoagulation by inhibiting Factor XI.
In July 2021, Surmodics Inc., a US-based surface modification technologies manufacturer, acquired Vetex Medical Limited. The acquisition aims to expand Surmodics' thrombectomy portfolio, introducing the ReVene Thrombectomy Catheter to its product offerings. Vetex Medical Limited, based in Ireland, specializes in devices for venous thromboembolism (VTE) and other medical conditions.
Major players in the venous thromboembolism market are Pfizer Inc., Johnson and Johnson Limited, Merck and Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi-Aventis LLC., Bristol-Myers Squibb Company, GlaxoSmithKline plc., Eli Lilly and Co Ltd., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Limited, Otsuka Pharmaceutical Co. Ltd., Menarini Group, Ipsen S.A., Dr. Reddy's Laboratories Ltd., Apotex Inc., Hikma Pharmaceuticals PLC, Cipla Inc., Endo International PLC, Aspen Pharmacare Holdings Limited, Zydus Lifesciences Ltd., LEO Pharma A/S, Lupin Limited, Torrent Pharmaceuticals Ltd., Almirall S.A., Glenmark Pharmaceuticals Ltd., Portola Pharmaceuticals Inc.
North America was the largest region in the venous thromboembolism market in 2023. The regions covered in venous thromboembolism report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the venous thromboembolism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The venous thromboembolism market consists of revenues earned by entities by providing services such as surgical assistance and thrombolytic therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The venous thromboembolism market also includes the sales of heparin, apixaban, dabigatran, rivaroxaban, edoxaban and warfarin. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.