The Rising Geriatric Population to boost Venous Thromboembolism (VTE) Market Growth

 

Venous Thromboembolism (VTE) Market

Venous Thromboembolism (VTE) Market, By Product (Non-Segmented Pneumatic Compression Pumps, Segmented Pneumatic Compression Pumps without Gradient, Segmented Pneumatic Compression Pumps with Calibrated Gradient, Upper Pneumatic Compression Sleeves, Lower Pneumatic Compression Sleeves, Permanent Inferior Vena Cava Filters, Retrievable Inferior Vena Cava Filters, Embolectomy Balloon Catheters, Percutaneous Thrombectomy Devices, Catheter-Directed Thrombolysis (CDT) Devices), Type (Deep Vein Thrombosis, Pulmonary Embolism, Others), Treatment (Anti-Clotting Medications, Mechanical Devices, Thrombolytic Therapy, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Venous Thromboembolism (VTE) Market is estimated to be valued at US$ 1.53 billion in 2022 and is expected to exhibit a CAGR of 3.7 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Venous Thrombosis and Pulmonary Embolism (VT/PE) are usually not analyzed and severe, however preventable clinical problems. Venous thrombosis (VT) is a health problem that takes place while a blood clot occurs in a deep vein. These blood clots generally develop in the lower extremist, thigh, or pelvis, however they can also take place in the arm. It is essential to know regarding the Thromboembolism (VTE) as it can occur to anybody and can lead to severe illness, debility, and in some conditions, fatality.

Competitive Landscape:

Key players involved in the growth of global Venous Thromboembolism (VTE) Market are Pfizer Inc., Changzhaou Qianhong Bio-pharma Co., ltd., Hebei Changshan Biochemical Pharmaceutical Co. Ltd., F. Hoffmann-La Roche Ltd., Hikma Pharmaceuticals PLC., Fresenius Kabi AG., Janssen Global Services, LLC., Aspen Holdings., Novartis AG and Mylan N.V.

Market Key Drivers:

Rising geriatric population across the globe is expected to augment the growth of the global Venous Thromboembolism (VTE) Market. For instance, as per the WHO, the geriatric population across the globe is expected to reach over 2 billion by 2050.

Increasing number of orthopedic surgeries across the globe is projected to propel the growth of global Venous Thromboembolism (VTE) Market. For instance, as per a survey around 22.3 million orthopedic surgeries are performed across the globe.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Venous Thromboembolism (VTE) Market due to the surge in pandemic which has led to strict imposition of lockdown and shutdown. The delay in surgeries and closure of the clinics along with restrictions on movement of people and visits to hospitals to curb the spread of virus has impeded the market growth.

Key Takeaways:

The global Venous Thromboembolism (VTE) Market is expected to exhibit a CAGR of 3.7 % during the forecast period owing to the rising approvals and product launches. For instance, In May 2019, U.S. FDA approved Pfizer, Inc. for FRAGMIN, which is a dalteparin sodium to decrease the reappearance of VTE in infants above one month.

Among regions, North America, Asia Pacific and Europe anticipated to witness robust growth in the global Venous Thromboembolism (VTE) Market due to rising geriatric population, increasing orthopedic surgeries and rising approvals and product launches. For instance, as per CDC around 60,000 to 100,000 people die due to Venous Thromboembolism (VTE).