by The Inferior Vena Cava (IVC) filter is a tiny, usually cone-shaped device that is inserted into the inferior vena cava to prevent blood clots from traveling from the lower extremities to the lungs. IVC filters are indicated for patients with deep vein thrombosis at high risk of pulmonary embolism. The global IVC filter market is thriving mainly due to an increasing prevalence of deep vein thrombosis and pulmonary embolism coupled with technological advancements in IVC filter design and materials.
The Global Inferior Vena Cava Filter Market is estimated to be valued at US$ 772.1 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031.
IVC filters help prevent devastating and potentially life-threatening pulmonary embolism by trapping blood clots before they can travel from the legs or pelvis to the lungs. Technological innovations in IVC filter designs to improve retrievability and materials to enhance biocompatibility are fueling their adoption worldwide.
Key Takeaways
Key players operating in the Inferior Vena Cava Filter market are Boston Scientific Corporation, Cook Medical, Cardinal Health, C. R. Bard (acquired by BD), ALN, B. Braun Melsungen, Braile Biomdica, VENITI, Argon Medical Devices, Koninklijke Philips, Mermaid Medical A/S, Becton Dickinson and Co, Cordis Corporation, Volcano Corporation, Medtronic plc, Johnson & Johnson, Terumo Corporation, Merit Medical Systems, and Lifetech Scientific Corporation.
The Inferior Vena Cava Filter Market Demand to prevent pulmonary embolism among patients at high risk is driving market growth. Various technologically advanced IVC filters offer better retrievability and result in fewer long-term complications.
Global expansion of key market players through acquisitions and partnerships combined with rising healthcare expenditure in developing nations is expected to boost the IVC filter market size during the forecast period.
Market Key Trends
One of the key trends gaining traction in the IVC filter market is the development of dual-filter systems. Dual IVC filter systems are designed to provide enhanced protection against pulmonary embolism by acting as dual barriers against thrombi. For instance, Boston Scientific’s OptEase Dual Filter system contains two separate filters designed to capture clots of different sizes.
Another notable trend is the increased research into bioabsorbable IVC filters. These temporary filters aim to resolve issues related to long-term complications of permanent filters by degrading and absorbing harmlessly over time after preventing initial pulmonary embolism risk. For instance, Lifetech Scientific’s Claymore Dx bioabsorbable IVC filter is designed to be safely absorbed within 12-18 months. Such advances are likely to transform the IVC filter landscape in the coming years.
Porter’s Analysis
Threat of new entrants: Low as IVC filter market requires high capital investment for R&D and manufacturing facilities.
Bargaining power of buyers: Moderate as there are many established players providing IVC filters with differentiated products.
Bargaining power of suppliers: Low as raw materials for IVC filters are commodity products and not differentiated.
Threat of new substitutes: Low as there are limited substitutes available for IVC filters used for prevention of pulmonary embolism.
Competitive rivalry: High as the market has few large players and products are differentiated based on designs and features.
Geographical Regions
North America region dominates the Inferior Vena Cava Filter Market Regional in terms of value owing to growing number of PE instances coupled with presence of advanced healthcare infrastructure and reimbursement policies. The United States holds majority share of the North America IVC filter market due to increasing adoption of IVC filters and recurrence of DVT/PE cases.
Asia Pacific region is expected to witness fastest growth over the forecast period in the global IVC filter market due to increasing healthcare expenditures, growing prevalence of cardiovascular diseases, rising medical tourism and penetration of major market players in emerging countries such as India and China through partnerships and acquisitions with local players.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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