PUBLISHER: DataM Intelligence | PRODUCT CODE: 1374797
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1374797
Early detection and treatment of blood clots can significantly reduce the death rate due to stroke and vascular diseases. Blood clotting, or coagulation, is an important process that prevents excessive bleeding when a blood vessel is injured. Platelets (a type of blood cell) and proteins in your plasma (the liquid part of the blood) work together to stop the bleeding by forming a clot over the injury.
Furthermore, the global peripheral vascular clot management interventions market is driven by various factors like the rising global incidence of cardiovascular diseases, technological advancements in clot management devices, continuous development of such cutting-edge technologies and others that will help this market to grow during the forecast period having significant key players like Abbott Laboratories., Edward Lifesciences Corporation., Medtronic Inc, Teleflex Medical and others.
The rise in the prevalence of vascular diseases is one of the key factors that helps the market to grow during the forecast period. The prevalence of conditions like peripheral artery disease (PAD) and deep vein thrombosis (DVT) has been on the rise, primarily due to lifestyle factors like smoking, obesity, and sedentary behaviour. This drives the need for clot management interventions.
For instance, according to the Centers for Disease Control and Prevention updated factsheet The precise number of people affected by deep vein thrombosis (DVT) or pulmonary embolism (PE) is unknown, although as many as 900,000 people could be affected each year in the United States.
Older individuals often face a higher risk of developing blood clots due to age-related factors such as reduced mobility, chronic health conditions (e.g., hypertension, diabetes, heart disease), and medications they may be taking. For instance, The World Health Organization (WHO) estimates that by 2050, there will be 2.1 billion people worldwide who are 60 years of age or older, up from 1 billion in 2020.
In addition, several sources and research show that the population aged 60 years or more is the foremost independent risk factor for deep vein thrombosis (when a blood clot forms in one or more of the deep veins in the body). Thus, the increasing geriatric population coupled with the burden of thrombosis among them is expected to create demand for clot management devices, thereby driving the market growth over the analysis period.
Peripheral vascular clot management intervention devices can be costly, which can be a barrier to access for some patients. The high cost of these devices is due to the complexity of the procedures and the advanced technology used in the devices.
For instance, endovascular aneurysm repair stent grafts costs are very high which can be a restraint factor that hamper the market growth during the forecast period. The median cost of hospitalization for aneurysm-related subsequent intervention was $22,023 (IQR, $13,177-$47,752), compared with a median non-aneurysm-related subsequent intervention cost of $19,007 (IQR, $8708-$33,301).
The global peripheral vascular clot management interventions market is segmented based on device type, indication, end-user and region.
The catheters segment from the device type segment accounted for 41.7% and it is expected to be dominated during the forecast period. The catheters are used to send clot-dissolving medicine to the DVT. This can help break up the clot or else the healthcare provider might use small tools to help break up the clot.
Catheter-directed thrombolysis treats vascular blockages and improves blood flow by dissolving abnormal blood clots. A blood clot, or thrombus, can block off blood supply to certain parts of the body and cause serious damage. Catheter-directed thrombolysis uses X-ray imaging and a catheter to guide special medication or a medical device to the site of a blood clot to dissolve the blockage.
For instance, in September 2021 Boston Scientific Corporation stated an agreement to acquire Devoro Medical, Inc., developer of the WOLF Thrombectomy Platform. The innovative non-console and lytic-free WOLF technology targets and rapidly captures blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.
North America is estimated to hold about 38.4 % of the total market share throughout the forecast period, owing to the factors like novel treatment, new device launches, FDA Clearance, advanced healthcare infrastructure, Robust Healthcare Spending and other factors that help this region to grow during the forecast period.
For instance, in February 2023 Woodland Heights Medical Center is the first in the Lufkin/Nacogdoches area to utilize a new treatment for pulmonary embolism and deep vein thrombosis. It is the first mechanical thrombectomy device FDA indicated and purpose-built for this treatment.
Deep vein thrombosis (DVT) typically occurs when a blood clot forms in the legs and pulmonary embolism (PE) occurs when a part of the clot breaks off, travels through the bloodstream and causes a blockage of blood flow to the lungs. The blockage of blood flow results in right heart strain as the right ventricle is unable to push blood past the clot. In severe cases, right heart failure may occur leading to a fatal event.
Moreover, in January 2023 Penumbra, Inc. a global healthcare company focused on innovative therapies, announced the U.S. Food and Drug Administration (FDA) clearance and launch of Lightning Flash, the most advanced and powerful mechanical thrombectomy system on the market. Lightning Flash features Penumbra's novel Lightning Intelligent Aspiration technology, now with dual clot detection algorithms.
The major global players in the market include: Abbott Laboratories., Edward Lifesciences Corporation., Medtronic Inc., Teleflex Medical, Boston Scientific Corporation., Biotronik, Merit, B. Braun SE, Terumo Corporation, Penumbra Inc and among others.
During the early phases of the pandemic, many conventional peripheral vascular clot management treatments were postponed or cancelled as healthcare resources were redirected to treat COVID-19 patients. As a result, procedure numbers and the market for associated medical devices and medications declined in the short term.
Also, the mysterious clots in COVID-19 patients may be due to the binding of the SARS-CoV-2 spike protein with the ACE2 receptor in blood vessel endothelial cells. This interaction has caused vasoconstriction and activation of the intrinsic coagulation pathway, leading to the formation of blood clots. The pathogenesis of SARS-CoV-2 and the role of ACE2 in RAS are also considered.
The global peripheral vascular clot management interventions market report would provide approximately 61 tables, 58 figures and 186 Pages.
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