Inferior Vena Cava Filters Global Market Report 2024

The inferior vena cava filters market has grown strongly in recent years. It will grow from $5.14 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to factors such as the increased incidence of deep vein thrombosis, growth in the aging population, the adoption of preventive measures for pulmonary embolism, advancements in filter designs, and awareness programs and medical education initiatives.

The inferior vena cava filters market is expected to see strong growth in the next few years. It will grow to $7.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to factors such as the increasing number of surgical procedures and trauma cases, a focus on outpatient settings, a rise in chronic diseases and comorbidities, global trends in an aging population, and expanded access to healthcare services. Key trends expected in the forecast period involve enhanced thrombus capture capabilities, exploration of alternative anticoagulant therapies, increased collaboration between manufacturers and healthcare providers, continuous regulatory compliance and monitoring, and growing awareness and education initiatives in the medical field.

The projected increase in the prevalence of venous thromboembolism is set to drive the growth of the inferior vena cava filter market. Venous thromboembolism (VTE), characterized by blood clots in the veins with potential severe consequences, underscores the importance of inferior vena cava filters. These medical devices are instrumental in preventing blood clots from reaching critical organs such as the heart or lungs. According to data from the Centers for Disease Control and Prevention in February 2023, an estimated 900,000 individuals could be affected by venous thromboembolism, contributing to 60,000 to 100,000 annual deaths in the United States. Hence, the rise in VTE prevalence is a significant factor propelling the growth of the inferior vena cava filter market.

The growing preference for non-invasive or minimally invasive medical procedures is anticipated to be a key driver for the inferior vena cava filter market. Minimally invasive procedures, which aim to minimize disruption to normal bodily structures, often involve the use of inferior vena cava (IVC) filters to manage and prevent complications associated with conditions such as deep vein thrombosis (DVT) and pulmonary embolism (PE). The American Society of Plastic Surgeons reported in September 2023 that approximately 23.7 million cosmetic minimally invasive procedures were performed in 2022, with a significant surge of 73% observed in Neuromodulator Injections compared to 2019. This trend reflects a growing preference for procedures with reduced invasiveness, thereby contributing to the growth of the inferior vena cava filter market.

Product innovation stands out as a prominent trend in the inferior vena cava filter market, with major companies actively developing novel devices to enhance their market position. An example of such innovation is the introduction of Philips' CavaClear laser sheath in December 2021. Approved by the United States Food and Drug Administration (FDA), this product utilizes ultraviolet laser energy to remove tissue and aid in the removal of inferior vena cava filters, achieving a technical success rate of 96%, surpassing previous removal methods.

Strategic partnerships have become a prevalent approach for major companies in the inferior vena cava filter market, aiming to extend distribution networks and gain a competitive advantage. These partnerships allow companies to broaden their service offerings, expand market reach, and enhance customer satisfaction through synergies. An illustration of this strategy is the investment by Cordis-X, a manufacturer of interventional cardiovascular technologies, in Adient Medical in June 2022. This $11 million investment is intended to diversify Cordis's product portfolio to address unmet needs in cardiovascular health.

In August 2021, Hellman & Friedman (H&F), a private equity firm based in the United States, acquired Cardinal Health's cordis business for approximately $1 billion. This acquisition positions H&F to expand its portfolio with an independent Cordis company, emphasizing innovation to bring differentiated products to the market and create additional value for customers and investors. Cardinal Health, the former owner, is a U.S.-based company specializing in the manufacture of IVC filters.

Major companies operating in the inferior vena cava filters market report are ALN Implants Chirurgicaux,B. Braun Melsungen AG,Argon Medical Devices Inc.,Boston Scientific Corporation,Cook Medical LLC,Braile Biomédica Indústria Comércio e Representações Ltd.,Koninklijke Philips N.V,Volcano Corporation,Lifetech Scientific Corporation,Canon Medical Systems Inc.,Siemens Healthcare Private Limited,VENITI Inc.,Cordis Corporation,Hotze Runkle plc,Bard,Becton Dickinson and Company,Karl Storz SE & Co. KG,Novamedtek,Elmed Medical Systems,Cardinal Health Inc.,C. R. Bard Inc.,LeMaitre Vascular Inc.,Medtronic plc,Eumedica S.A.,Merit Medical Systems Inc.,Penumbra Inc.,Teleflex Incorporated,RA Medical Systems,ETEX Corporation,OptiMed Medizinische Instrumente GmbH,Blue Sail Medical Co. Ltd.

North America was the largest region in the inferior vena cava filters market in 2023. The regions covered in the inferior vena cava filters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the inferior vena cava filters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main product types of inferior vena cava filters include retrievable inferior vena cava (IVC) filters and permanent inferior vena cava (IVC) filters. Retrievable IVC filters allow percutaneous removal when the risk of blood clot resolves. These filters are made from various materials, including non-ferromagnetic and ferromagnetic materials. They are used in various applications such as the treatment of venous thromboembolism (VTE), prevention of pulmonary embolism (PE), and other relevant medical uses. The devices are typically employed by hospitals, ambulatory surgical centers, and other healthcare facilities.

The inferior vena cava filters market research report provides inferior vena cava filters market statistics, including inferior vena cava filters industry global market size, regional shares, competitors with an inferior vena cava filters market share, detailed inferior vena cava filters market segments, market trends, and opportunities, and any further data you may need to thrive in the inferior vena cava filter industry. This inferior vena cava filters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The inferior vena cava filters market consists of sales of resorbable IVC filters, Polydioxanone (PPDO) IVC filters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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