Inferior Vena Cava Filters Market

Inferior Vena Cava Filters Market By Product Type (Retrievable Inferior Vena Cava Filters, Permanent Inferior Vena Cava Filters), Material (Non-Ferromagnetic Material, Ferromagnetic Materials), Application (Venous Thromboembolism, Pulmonary Embolism), End User (Hospitals, Ambulatory Surgical Centers, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady cagr forecast till 2030 owing to the growing incidence of pulmonary embolism, venous thromboembolism (vte) and technological advancement with increasing approvals of device from leading countries across the globe.

The global Inferior Vena Cava Filters Market is estimated to grow at a CAGR of 5.67% during the forecast period from 2024 to 2030. The demand for Inferior Vena Cava Filters is primarily being boosted by the growing incidence of pulmonary embolism and venous thromboembolism. Furthermore, the inferior vena cava filter market is anticipated to grow on account of a large number of ongoing improvements in product development, technological advancement, and approvals of device from leading countries contributing to the overall growth of the inferior vena cava market. These are some of the major drivers that are responsible in contributing to the positive growth of the inferior vena cava market during the forecast period from 2024-2030.

Inferior Vena Cava Filters Market Dynamics:

The inferior vena cava filters (IVCF) plays an important role in the prevention of pulmonary embolism and venous thromboembolism. According to the study of Australian Government Department of Health and Aged Care (2021), venous thromboembolism (VTE) poses a significant threat to health. Annually, over 17,000 Australians will have pulmonary embolism every year, and the incidence increases in the aging population. 

Furthermore, the study conducted under National Library of Medicines (NIH) 2020, “Pulmonary embolism prevalence among emergency department cohorts: A systematic review and meta-analysis by country of study”, stated that the prevalence of pulmonary embolism in Europe was 23% and in North America was 8%. As a result these statistics and data are expected to increase the future use of inferior vena cava filters thus fueling the future market of the Inferior Vena Cava Filters. 

Additionally, the increasing approvals of devices from leading industries companies are also playing the major role in boosting the overall future market of inferior vena cava filters. In December 2022, Retrievable Inferior Vena Cava Filter–ZYLOX OctoplusTM received approval from China's National Medical Products Administration (NMPA). This filter, is designed to prevent pulmonary embolism (PE) mainly caused by deep vein thrombosis (DVT) in the peripheral vasculature. Thus, with prominent manufacturers obtaining regulatory clearance for IVCF products, healthcare providers are keen to incorporate these advanced solutions into their treatment protocols. Their focus lies on improving patient outcomes and minimizing the risks associated with venous thromboembolism.

Additionally, In January, 2024 Cook Medical received FDA clearance for its Celect Platinum Vena Cava filter and Gunther Tulip Vena Cava Filter. The Celect Vena Cava Filter stands out for its enhanced flexibility and ease of insertion compared to earlier filter models. Additionally, boasting a retrieval rate exceeding 90%, it offers added assurance in terms of retrieval success. Thus the recent approvals and growing demand of inferior vena cava filters are reflecting the future market growth of inferior vena cava filters.

However, the risk of complication such as movement of IVCF from its original site, filter fracture, filter perforation or the blood clot formation within the filter and issues related with retrieval may hinder the market demand of Inferior Vena Cava Filters.

Inferior Vena Cava Filters Market Segment Analysis:

Inferior Vena Cava Filters Market By Product Type (Retrievable Inferior Vena Cava Filters, Permanent Inferior Vena Cava Filters), Material (Non-Ferromagnetic Material, Ferromagnetic Materials), Application (Treatment Of Venous Thromboembolism, Prevention Of Pulmonary Embolism), End-User (Hospitals, Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest Of The World) 

In the product segment of the Inferior Vena Cava Filters market, the Retrievable Inferior Vena Cava Filters category is estimated to mass a significant revenue share in the Inferior Vena Cava Filters Market in 2023. This can be attributed to the various advantages and applications provided by the Retrievable Inferior Vena Cava Filters. Inferior vena cava (IVC) filters are medical devices which helps in preventing blood clots from traveling to the lungs, which can cause a condition known as pulmonary embolism. These filters are typically implanted in the inferior vena cava, the large vein that carries deoxygenated blood from the lower body to the heart. Pulmonary embolism (PE) is a serious medical condition which is characterized by the sudden blockage of one or more arteries in the lungs by blood clots. These clots usually originate in the deep veins of the legs, a condition known as deep vein thrombosis (DVT), and then travel through the bloodstream to the lungs.

These filters can be removed once the risk of pulmonary embolism has passed. They are often used for temporary protection against pulmonary embolism making patients suitable who only require short-term prophylaxis, such as those undergoing high-risk surgeries or trauma. Besides this the Retrievable filters offer flexibility such as if the risk of pulmonary embolism decreases or resolves, the filter can be safely removed. Additionally, removing a retrievable filter once it is no longer needed reduces the risk of long-term complications associated with permanent filter placement. The retrieval procedure for retrievable filters is typically less invasive than the initial placement procedure. It often involves a simple catheter-based technique, performed under fluoroscopic guidance, and can be done on an outpatient basis. Hence all the factors and advancement in technology are promoting the overall market size of Inferior Vena Cava Filter during the forecast period as the patients who require temporary protection against pulmonary embolism, the ability to have the filter removed once the risk has passed can improve overall comfort and quality of life.

North America Is Expected To Dominate The Overall Inferior Vena Cava Market:

North America is expected to account for the highest proportion of the Inferior Vena Cava Filters Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from incidence of pulmonary embolism and venous thromboembolism. DVT is the most common cause of pulmonary embolism. According to the latest data provided by the American Lung Association (2023), in the United States the annual incidence of pulmonary embolism is around 900,000 every year. 

Additionally, as per the latest data provided by the American Lung Association (2023), approximately 33% of individuals who have had a deep vein thrombosis or pulmonary embolism will face a recurrence of pulmonary embolism within a decade. Hence, these statistics and data are expected to increase the future use of inferior vena cava filters thus fuelling the future market of the Inferior Vena Cava Filters in North America.

Additionally, leading companies in the inferior vena cava filter market are prioritizing partnership agreements to expand their distribution networks and improve customer satisfaction. By forging strategic alliances, these companies aim to broaden their market reach and deliver enhanced value to their customer base. For instance, in June 2022, Cordis-X a US- based manufacturer announced the investment in Adient Medical, a US based manufacturer of next generation IVC filter that provide protection against pulmonary embolism. Through this partnership, Cordis aims to expand its product further with solutions that meet unmet needs in cardiovascular health.

Furthermore, in North America individuals undergoing major surgery (e.g., orthopaedic surgery), trauma patients, and those with contraindications to anticoagulant therapy require IVC filters as these filters play a crucial role in the prevention and management of VTE in North America.

 Inferior Vena Cava Filters Market Key Players:

Some of the key market players operating in the Inferior Vena Cava Filters include Cook, Radcliffe Medical Media., Teleflex Incorporated, Merit Medical Systems, Inc., Cardinal Health, Inc., Argon Medical Devices, Inc., BD, Medtronic, Abbott Laboratories, Terumo Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, Cordis., C.R. Bard, Inc., Mermaid Medical, LifeTech Scientific Corporation, Argon Medical Devices., Masimo., B. Braun Interventional Systems Inc., Braile Biomdica.

Recent Developmental Activities In The Inferior Vena Cava Filters Market:

• In December 2021, Philips CavaClear Laser Sheath, the first laser-based device authorized by the U.S. Food and Drug Administration for marketing, targets the removal of Inferior Vena Cava (IVC) filters. This innovative device is specifically designed in utilizing laser technology to ablate tissue and facilitate detachment.

Key Takeaways From The Inferior Vena Cava Filters Market Report Study

• Market size analysis for current Inferior Vena Cava Filters Market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Inferior Vena Cava Filters market.
• Various opportunities available for the other competitors in the Inferior Vena Cava Filters Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Inferior Vena Cava Filters market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Inferior Vena Cava Filters market growth in the coming future?

Target Audience Who Can Be Benefited From This Inferior Vena Cava Filters Market Report Study

• Inferior Vena Cava Filters product providers
• Research organizations and consulting companies 
• Cardiac Restoration Systems-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Inferior Vena Cava Filters
• Various end-users who want to know more about the Inferior Vena Cava Filters Market and the latest technological developments in the Inferior Vena Cava Filters Market.

Frequently Asked Questions For The Inferior Vena Cava Filters Market:

1. What are Inferior Vena Cava Filters?

Inferior vena cava (IVC) filters are medical devices which helps in preventing blood clots from traveling to the lungs, which can cause a condition known as pulmonary embolism. These filters are typically implanted in the inferior vena cava, the large vein that carries deoxygenated blood from the lower body to the heart.

2. What is the market for Inferior Vena Cava Filters?

The global Inferior Vena Cava Filters Market is estimated to grow at a CAGR of 5.67% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Inferior Vena Cava Filters market?

The demand for Inferior Vena Cava Filters is primarily being boosted by the growing incidence of pulmonary embolism and venous thromboembolism. Furthermore, the inferior vena cava filter market is anticipated to grow on account of a large number of ongoing improvements in product development, technological advancement, and approvals of device from leading countries contributing to the overall growth of the inferior vena cava market. These are some of the major drivers that are responsible in contributing to the positive growth of the inferior vena cava market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Inferior Vena Cava Filters market?

Some of the key market players operating in the Inferior Vena Cava Filters include Cook, Radcliffe Medical Media., Teleflex Incorporated, Merit Medical Systems, Inc., Cardinal Health, Inc., Argon Medical Devices, Inc., BD, Medtronic, Abbott Laboratories, Terumo Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, Cordis., C.R. Bard, Inc., Mermaid Medical, LifeTech Scientific Corporation, Argon Medical Devices., Masimo., B. Braun Interventional Systems Inc., Braile Biomdica.

5. Which region has the highest share in the global Inferior Vena Cava Filters market?

North America is expected to account for the highest proportion of the Inferior Vena Cava Filters Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from incidence of pulmonary embolism and venous thromboembolism.