Venous thromboembolism (VTE) occurs when blood clots form in the deep veins of the arms or legs and circulate through the bloodstream. It impedes the flow of blood and oxygen, causing damage to tissues and organs. Deep vein thrombosis (DVT) and pulmonary embolism are both signs of venous thromboembolism, and if left untreated, it can be fatal. Prevention measures include the use of various devices such as thrombectomy devices, compression pumps, and stockings, among others.
The utilization of venous thromboembolism prevention devices has witnessed a notable increase in recent times. This surge is primarily attributed to the high incidence rate of venous thromboembolism, the rising prevalence of secondary risk factors associated with vascular diseases, and the growing demand for minimally invasive treatment procedures. This article delves into the causes and available treatments for VTE.
Growing Prevalence of Venous Thromboembolism
Vascular diseases affect the blood flow in veins and arteries. Venous thromboembolism involves the formation of a blood clot in a vein, which can be life-threatening. Deep Vein Thrombosis (DVT) occurs when such clots obstruct blood flow in deep veins, typically in the lower legs, thighs, arms, or pelvis. In some cases, a clot may dislodge and circulate through the bloodstream to the lungs, resulting in Pulmonary Embolism (PE). It is a very common condition and is seen in patients globally. According to the American Heart Association report (2021), every year, around 1,220,000 people in the U.S. are affected by the disease.
There is a lack of awareness about venous thromboembolism despite it being one of the leading causes of mortality globally. The lack of awareness regarding VTE risk factors can lead to fatal consequences. Hence, several governments are taking steps to raise awareness about the condition. For instance, in June 2022, the Indian Council of Medical Research (ICMR) launched a National Hospital-based Registry on Venous Thromboembolic Disorders (i-RegVeD). This initiative aims to establish a nationwide surveillance network for collecting data on VTE prevalence.
Furthermore, the International Society on Thrombosis and Haemostasis (ISTH) in the U.S. conducted a global campaign on 13th October 2023 to raise awareness about conditions caused by thrombosis. These initiatives aim to enhance public awareness, ultimately contributing to the reduction of the growing incidence of venous thromboembolism.
The growth of the venous thromboembolism treatment market is attributed to the high prevalence of venous thromboembolism, rising incidence of cancer, growing prevalence of secondary risk factors such as diabetes and obesity, increase in orthopedic surgical procedures, and the rising demand for minimally invasive treatment procedures.
High Growth Potential in Emerging Economies
Ensuring timely prevention and treatment of diseases remains a challenge in emerging economies or developing countries like India, China, and Brazil. In China, a survey conducted among hematologists from April to May 2022 revealed that only 27.3% of them could correctly identify the risk factors associated with venous thromboembolism (VTE) or deep vein thrombosis (DVT). Despite these challenges, technological advancements and globalization in these countries have facilitated the adoption of advanced VTE prevention technologies. For instance, in August 2022, Wallaby Medical, LLC. (U.S.), a medical technology company specializing in neurovascular interventional products, launched its pRESET thrombectomy device in Brazil. The pRESET is a stentriever device used for mechanical thrombectomy in patients with acute ischemic stroke.
The high prevalence of venous thromboembolism in these countries is expected to drive the demand for VTE treatment and prevention devices.
Venous Thromboembolism Diagnosis & Prevention Through New Technologies
In recent years, significant progress has been made in the diagnosis, prevention, and management of venous thromboembolism. Noninvasive imaging modalities, D-dimer testing, and clinical prediction rules enable quick, cost-effective, and accurate VTE diagnosis. The number of outpatient surgeries has increased, with nearly 9,100 active outpatient surgery centers in the U.S. performing various procedures like colonoscopy, hip replacement, and knee replacement. Surgeries such as hip and knee replacements pose a risk of DVT development, prompting the need for products that enable at-home compression therapy to mitigate this risk.
An innovative solution for continued mechanical VTE prevention in outpatient surgeries is the Clot Knot device, developed by the Fox Chase Cancer Center. This patient-based solution allows for the incorporation of sequential compression devices or stockings into a straightforward outpatient therapy and physical recovery routine. Another option for post-outpatient surgery is the use of intermittent pneumatic compression (IPC) devices. These cuffs, when placed around the leg, help prevent blood clots in deep veins.
Advances in VTE management also include the integration of AI-guided software for diagnosis. AI-based detection offers faster results compared to traditional methods. Healthcare AI companies are actively introducing AI-powered solutions for diagnosis. For instance, in November 2021, Viz.ai, Inc. (U.S.) launched AI-powered modules for diagnosing pulmonary embolism and aortic disease. This solution leverages deep learning to identify suspected pulmonary embolism disease in under two minutes.
Insights from the Venous Thromboembolism Treatment Market Analysis
Recent insights from Meticulous Research® provide valuable perspectives on the future trajectory of the Venous Thromboembolism Treatment Market. Projections suggest a potential worth of $4.40 billion by 2030, driven by a Compound Annual Growth Rate (CAGR) of 7.2% from 2023 to 2030.
Significant trends are emerging in the venous thromboembolism treatment market, driven by the continuous evolution of technologies for prevention and treatment. This shift is influenced by the rising prevalence of venous thromboembolism cases and an increasing incidence of secondary risk factors like diabetes and obesity.
As the global landscape takes shape, the North American region is expected to hold a substantial market share in 2023. Notably, influential industry players, including Boston Scientific Corporation (U.S.), Stryker Corporation (U.S.), Cardinal Health, Inc. (U.S.), Enovis Corporation (U.S.), Medtronic plc (Ireland), and Cook Group Incorporated (U.S.), have established a broad presence across various regions, leading to the widespread adoption of their venous thromboembolism prevention devices worldwide. This comprehensive overview from Meticulous Research® provides valuable insights into the venous thromboembolism treatment market.
Conclusion
Increased awareness of VTE prevention, coupled with a growing preference for minimally invasive treatments, has driven the adoption of VTE prevention devices globally. Technological advancements, including the emergence of portable VTE and DVT prevention devices, as well as the integration of artificial intelligence (AI) for diagnosis and prevention, have further propelled the market’s growth. Additionally, government initiatives and the increasing launches of innovative venous thromboembolism prevention devices, such as thrombectomy devices, compression pumps, and stockings, contribute to the market’s growth.
Access Full Report Here @ https://www.meticulousresearch.com/product/venous-thromboembolism-treatment-market-5745
Related Tag:
Related Blogs:
Parenteral Nutrition: A Life Saving Form of Nutrition
Read More
Remote Patient Monitoring: A Comprehensive Overview
Read More
Electrosurgery: A Comprehensive Overview
Read More
Genomics: A Revolution in Diagnostics & Drug Discovery
Read More
Importance of Automation In Streamlining Laboratory Workflows
Read More
Bioinformatics: Primary Basis of Analytics in Genomics Research
Read More
Sample Preparation Market: To Achieve Optimized Sample Analysis
Read More
Microfluidic Immunoassay: The Emerging Lab-on-Chip Technology
Read More
Life Science Equipment: The Role of Various Technologies
Read More
Sequencing Kits & Reagents: The Key to Unlock Genomic Insights
Read More
NGS Services: Accelerating Cancer Research
Read More
Epigenetics Analysis: The Roadmap to Precision Oncology
Read More
NGS Services: Accelerating Cancer Research
Read More
Home-Care Products: A Boon for Sleep Apnea Patients
Read More
