Venous Thromboembolism Prophylaxis Market to Grow with a CAGR of 5.43% through 2028
Rising
number
of surgical procedures worldwide are expected to drive the Global Venous
Thromboembolism Prophylaxis Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Venous
Thromboembolism Prophylaxis Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Venous
Thromboembolism Prophylaxis Market stood at USD 6.22 billion in 2022 and is
anticipated to grow with a CAGR of 5.43% in the forecast period, 2024-2028. Global
Venous Thromboembolism Prophylaxis Market is witnessing steady growth due to
factors such as an aging population, increased surgical procedures,
technological advancements, and heightened awareness of VTE risk. One of the
most prominent drivers of the VTE prophylaxis market is the aging global
population. As people age, their risk of VTE increases due to factors such as
reduced mobility, comorbidities, and changes in blood composition. Elderly
individuals are more likely to undergo surgeries, further elevating their risk.
Consequently, the rising number of elderly patients has led to a higher demand
for VTE prophylactic measures, including anticoagulant medications and
mechanical devices. This demographic shift has created a sustained demand for
VTE prevention solutions.
Surgery is a major risk factor for VTE as it can lead
to immobility, vascular injury, and alterations in blood flow. Orthopedic
surgeries, such as joint replacements and spinal procedures, carry a
particularly high risk of VTE. With a growing number of surgeries being
performed worldwide, the need for VTE prophylaxis has increased significantly.
Surgeons and healthcare providers are increasingly adopting prophylactic
measures to reduce the risk of VTE in surgical patients, driving the demand for
prophylactic products and medications.
The VTE prophylaxis market has witnessed significant
technological advancements in recent years. Pharmaceutical companies have
developed newer and more effective anticoagulant medications with improved
safety profiles. These drugs offer healthcare providers more options for
tailoring VTE prevention strategies to individual patient needs. Additionally,
the development of more comfortable and efficient mechanical prophylaxis
devices, such as intermittent pneumatic compression (IPC) devices, has enhanced
the prophylactic approach.
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The VTE prophylaxis market is expanding beyond
traditional markets as emerging economies witness rapid urbanization, increased
healthcare spending, and improved access to healthcare services. As these
regions develop, there is a growing demand for VTE prophylaxis solutions.
Pharmaceutical companies and medical device manufacturers are increasingly
targeting emerging markets to capitalize on this demand, further boosting
market growth. Governments and regulatory bodies worldwide are recognizing the
importance of VTE prevention and have implemented guidelines and
recommendations for healthcare providers. These regulations encourage the
adoption of prophylactic measures in various healthcare settings, including
hospitals, long-term care facilities, and outpatient clinics. Compliance with
these guidelines has become a driving force in the VTE prophylaxis market,
ensuring that patients receive appropriate preventive care.
The Global Venous Thromboembolism Prophylaxis Market
is segmented into Type, Application, Regional Distribution, And Company.
Based on the Type, the Lower Extremity
emerged as the dominant segment in the global market for Global Venous
Thromboembolism Prophylaxis Market in 2022. Lower extremity surgeries, which
include procedures like hip and knee replacements, are more common than upper
extremity surgeries. These surgeries often involve more extensive tissue trauma
and longer periods of immobility, which significantly increase the risk of VTE.
Consequently, the larger number of lower extremity surgeries leads to a higher
demand for VTE prophylaxis in this category. Lower extremity surgeries are
associated with a higher risk of DVT, a type of VTE that occurs in the deep
veins of the legs. Due to the length of the veins in the lower extremities and
the potential for stasis of blood flow during immobility, DVT risk is
inherently higher. Healthcare providers prioritize VTE prophylaxis in lower
extremity surgeries to mitigate this risk, contributing to the greater demand
for prophylactic measures in this category.
Based on the End Use, the Hospitals
& Clinics segment emerged as the dominant player in the global market for
Global Venous Thromboembolism Prophylaxis Market in 2022. Hospitals are the
primary institutions where major surgeries and medical procedures take place.
They handle a significantly larger volume of surgical cases compared to
ambulatory care centers. Many of these surgeries, such as joint replacements,
cardiac surgeries, and abdominal procedures, are associated with a higher risk
of VTE. Consequently, the sheer number of surgical procedures conducted in
hospitals generates a substantial demand for VTE prophylaxis. Many surgical
procedures performed in hospitals require patients to stay overnight or for an
extended period as inpatients. Prolonged immobility during hospitalization
significantly elevates the risk of VTE, necessitating strict prophylactic
measures. Clinics and ambulatory care centers typically cater to outpatient
procedures with shorter recovery times, reducing the overall VTE risk.
North America emerged as the dominant player in the
global Venous Thromboembolism Prophylaxis Market in 2022, holding the largest
market share. North America has a rapidly aging population, which is more
susceptible to VTE due to factors such as reduced mobility and underlying
medical conditions. The growing elderly demographic contributes to a higher
demand for VTE prophylaxis in the region.
North
America boasts a highly developed healthcare infrastructure with
state-of-the-art facilities, well-trained medical professionals, and advanced
medical technologies. This advanced healthcare system is well-equipped to
diagnose and manage VTE, driving the demand for VTE prophylaxis products and
services.
The region has stringent regulatory standards and
guidelines for VTE prevention, reinforcing the importance of prophylactic
measures in healthcare settings. Compliance with these regulations ensures the
widespread adoption of VTE prophylaxis.
Major companies operating in Global Venous
Thromboembolism Prophylaxis Market are:
- Arjo
- Encompass Group
- Argon Medical Devices
- MEGO AFEK
- Zenith Technical Innovations
- Cook Medical
- Bio Compression Systems
- ThermoTek USA
- Boston Scientific Corporation
- Cardinal Health (Medtronic)
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“The Global
Venous Thromboembolism (VTE) Prophylaxis Market is poised for significant
growth in the coming years. This anticipation is rooted in several key factors,
including the rising awareness of VTE risks and the importance of prevention
among healthcare providers and patients. With an aging global population and an
increase in the number of surgical procedures, particularly in high-risk lower
extremity surgeries, the demand for VTE prophylactic measures is expected to
surge. Furthermore, advancements in pharmaceutical solutions, including novel
oral anticoagulants (NOACs) with improved safety profiles, as well as
technological innovations in mechanical prophylaxis devices, are expanding the
range of preventive options available. The integration of digital health
technologies, such as electronic health records and remote patient monitoring,
is enhancing risk assessment and management, contributing to improved patient
outcomes.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Venous Thromboembolism Prophylaxis Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Type (Lower Extremity, Upper Extremity), By End Use (Hospitals & Clinics,
Ambulatory care Centers, Others) By Region and Competition”, has evaluated
the future growth potential of Global Venous Thromboembolism Prophylaxis Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Venous Thromboembolism Prophylaxis Market.
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