Clot Management Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Clot Management Devices Market By Product Type (Thrombectomy Devices [Catheter-Directed Thrombolysis Devices, Aspiration Devices, And Stent Retrievers], Embelecotomy Catheters, Inferior Vena Cava Filters [Retrieavble And Permanent], Compression Garments, And Others), And By End User (Hospitals, Ambulatory Surgical Centers, And Others), and by geography is estimated to register appreciable CAGR forecast till 2030 owing to increasing prevalence of strokes and embolsim due to rising geriatric population and lifestyle disorders such as hypertension

Global clot management devices market was valued at USD 1.76 billion in 2023, growing at a CAGR of 4.50% during the forecast period from 2024 to 2030 to reach USD 2.29 billion by 2030. The demand for clot management devices is primarily being boosted by increasing geriatric population who form a big part of at-risk population for developing thrombus, rising prevalence of lifestyle disorders such as hypertension and obesity which massively increase the chances of developing blood clots, and the innovation in product development leading to the development of second-generation thrombectomy devices ultimately contributing in the overall growth of the clot management devices market during the forecast period.

Clot Management Devices Market Dynamics:

The clot management devices market is experiencing increasing product demand owing to the variety of factors. One of the important factors is the increase in the elderly population. This is evident from the data provided by the World Health Organization in their Decade of Healthy Ageing (2020-2030) Report, the number of people aged 60 years and older will be 34% higher, increasing from one billion in 2019 to 1.4 billion in 2030. By 2050, the global population of older people will have more than doubled, to 2.1 billion. In addition to the above-mentioned stats, the factsheet on cardiovascular diseases published by the WHO further stated that more than four-fifths of deaths from cardiovascular diseases are primarily due to stroke and heart attack, and one-third of these deaths affect people under the age of 70. Old age or aging is considered as a major risk factor for numerous diseases as well as increasing the chances of developing thrombosis such as deep vein thrombosis (DVT). One of the major complications of DVT is pulmonary embolism, which can be fatal to the patient. Therefore, in order to avoid such serious consequences of thrombosis, a clot management device such as an inferior vena cava filter is used, among other interventions. Therefore, an increase in the elderly population, which may lead to an increase in the cases of DVT and further drive the demand for clot management devices, thereby contributing in the growth of the clot management devices market during the forecast period.

Moreover, another key factor responsible for driving the demand for clot management devices is the increasing incidence of brain strokes. As per the numbers provided by the American Heart Association (2023), the global prevalence of stroke in 2019 was 101.5 million people, whereas that of ischemic stroke was 77.2 million, that of intracerebral hemorrhage was 20.7 million, and that of subarachnoid hemorrhage was 8.4 million.

Furthermore, the rising prevalence of lifestyle disorders such as hypertension is also linked with increased risk of developing brain strokes. According to the data provided by the WHO on hypertension, as of 2022, near about 1.28 billion adults in the age group of 30-79 years across the globe have hypertension. High blood pressure has been reported to cause damage to the heart muscle as well as cause hemorrhagic strokes such as transient ischemic attack (TIA). Hypertension has been thought to cause the narrowing of arteries in the brain and increases the probability of blood clot formation. Therefore, this may indicate that the growing hypertensive population may result in the higher incidents of hemorrhagic strokes which are commonly treated with stent retrievers and aspiration thrombectomy. Therefore, the clot management devices market is slated to register remarkable growth during the forecast period owing to the factors mentioned above.

However, device-related complications and frequent product recalls may restrict the clot management devices market growth.

The clot management devices market has experienced a period of temporary recession as lockdown restrictions have been enforced as a necessary step to curb the spread of COVID-19 infections. One of the major impacts of lockdowns were observed in the disruption of production process and supply chains across the globe. Along with this, the significant decrease in the medical procedures due to prioritizing of COVID-19 infection-associated patient load, there was a striking decrease in the product demand because of that. However, the clot management devices market is in the recovery stage, with numerous COVID-19 vaccines being approved and administered worldwide, and activities have begun in various areas such as medical services thereby presenting a positive growth environment for the clot management devices market.

Clot Management Devices Market Segment Analysis:

Clot Management Devices Market by Product Type (Thrombectomy Devices [Catheter-Directed Thrombolysis Devices, Aspiration Devices, and Stent Retrievers], Embelecotomy Catheters, Inferior Vena cava Filters [Retrievable and Permanent], Compression Garments, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the clot management devices market, the stent retrievers' sub category in the thrombectomy devices category expected to amass a significant share in the market revenue during the forecast period. This can be ascribed to their advantages such as mechanical thrombectomy with stent retrievers is reported to produce superior clinical outcome in acute stroke patients compared to medical therapy alone. In addition to that, stent retrievers have a safety profile similar to that of systemic thrombolytic therapy.

Moreover, improvements in product design such as the incorporation of platinum for improved visibility (Trevo Provue and Solitaire Platinum) and longer lengths up to 40 mm have helped in improving the first-pass reperfusion outcomes. The entry of revoerable self-expanding thrombectomy devices further offer advantages such as he devices restore flow immediately and avoid the placement of a permanent stent, immediate restoration of blood and the eliminating the need for the placement of a permanent stent thereby reducing the chances of in-stent restenosis. Thus the factors mentioned above are expected to drive the demand for this product category, ultimately driving the clot management devices market forward.

North America is expected to dominate the overall Clot Management Devices Market:

Among all the regions, North America is estimated to account for the largest share in the clot management devices market. Owing to significance of key growth factors such as rising prevalence of DVT, embolism due to the increasing prevalence of obesity, hypertension and diabetes, the aging population, growing prevalence of cancers, and rising government initiatives regarding disease treatment awareness, the North America clot management devices market is expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals, and high awareness also helped the market growth in this region.

One of the key reasons positively influencing the growth of the United States clot management devices market is the rising prevalence of cancers in the US population. As per the latest data provided by American Cancer Society, around 1.9 million new cancer cases were diagnosed and 608,570 cancer deaths were reported in the United States in 2022. Cancer patients are thought to have specific abnormal coagulation factors which increase the chances of thrombus formation. Additionally, chemotherapy is also related with the increased risk of venous thrombosis resulting in deep vein thrombosis. Therefore, the rising prevalence of cancers in the country is expected to aid in the growing need for thrombus management devices thereby resulting in increase in product demand aiding in the growth of the United States clot management devices market.

Moreover, the rising prevalence of lifestyle disorders such as obesity is also considered as a key factor in the growing number of cases of clot formation in diseases such as DVT, brain strokes, and embolism. As per the data provided by the Canadian government (2023), in 2019, based on the body-mass index, approximately 56.5% of the Canadian population across all age groups was obese. Obesity is one of the most common factors that may result in embolism or DVT. Furthermore, obesity is also related with the inefficacy of anticoagulation therapeutics in obese patients. This further acts in the favor of thrombectomy and clot management devices. Therefore, the presence of large patient population suffering from obesity correlates to the presence of a high patient population suffering from as strokes, embolism, and DVT which would indicate the growing need for clot management equipment, thereby resulting in increase in product demand supporting the growth of the North America clot management devices market during the forecast period.

Clot Management Devices Market Key Players:

Some of the key market players operating in the clot management devices market includes Edward LifeSciences Corporation, Stryker, Johnson & Johnson, Medtronic, Penumbra, Microvention Inc., Terumo Corporation, Boston Scientific Inc, Abbott, Acandis GmbH, Perflow Medical Ltd, Koninklijke Philips N.V., phenox GmbH, AngioDynamics, ARGON MEDICAL, BD, B. Braun Melsungen AG, Cardinal Health., Braile Biomedica, Cook and others.

Recent Developmental Activities in Clot Management Devices Market:

In August 2022, Stryker Neurovascular received the regulatory approval from the US Food and Drug Administration (USFDA) for their Trevo NXT Pro Vue Retiever, a class II medical device classified as a neurovascular mechanical thrombectomy device for acute ischemic stroke.

In September 2022, Abbott announced the acquisition of Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots.

In February 2022, Inari Medical received the 510k approval for their Triever embelectomy catheters by the US FDA.

Key Takeaways from the Clot Management Devices Market Report Study

Market size analysis for clot management devices market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the clot management devices market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Clot Management Devices Market.

Various opportunities available for the other competitor in the Clot Management Devices Market space.

What are the top performing segments in 2023? How these segments will perform in 2030.

Which is the top-performing regions and countries in the current clot management devices market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for clot management devices market growth in the coming future?

Target Audience Who Can Be Benefited From This Clot Management Devices Market Report Study

Clot Management Devices products providers

Research organizations and consulting companies

Clot Management Devices-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 clot management devices

Various End-users who want to know more about the Clot Management Devices market and latest technological developments in the Clot Management Devices market.

Frequently Asked Questions for Clot Management Devices Market:

1. What are Clot Management Devices?

Clot management devices are medical devices that are employed in the removal blood clots from peripheral as well as neurovasculature.

2. What is the market for Global Clot Management Devices?

Global clot management devices market was valued at USD 1.76 billion in 2023, growing at a CAGR of 4.50% during the forecast period from 2024 to 2030 to reach USD 2.29 billion by 2030.

3. What are the drivers for Global Clot Management Devices Market?

The demand for clot management devices is primarily being boosted by increasing geriatric population who form a big part of at-risk population for developing thromboses, rising prevalence of lifestyle disorders such as hypertension and obesity which massively increase the chances of developing blood clots, and the innovation in product development leading to the development of second-generation thrombectomy devices ultimately contributing in the overall growth of the clot management devices market during the forecast period.

4. Who are the key players operating in Global Clot Management Devices Market?

Some of the key market players operating in the clot management devices market includes Edward LifeSciences Corporation, Stryker, Johnson & Johnson, Medtronic, Penumbra, Microvention Inc., Terumo Corporation, Boston Scientific Inc, Abbott, Acandis GmbH, Perflow Medical Ltd, Koninklijke Philips N.V., phenox GmbH, AngioDynamics, ARGON MEDICAL, BD, B. Braun Melsungen AG, Cardinal Health., Braile Biomedica, Cook and others.

5. Which region has the highest share in Clot Management Devices market?

North America is expected to dominate the overall Clot Management Devices market during the forecast period. Owing to significance of key growth factors such as rising prevalence of DVT, embolism due to the increasing prevalence of obesity, hypertension and diabetes, the aging population, growing prevalence of cancers, and rising government initiatives regarding disease treatment awareness, the North America clot management devices market is expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals, and high awareness also helped the market growth in this region.