Inferior Vena Cava Filter Market Size

Inferior Vena Cava Filter Market Analysis

The inferior vena cava filter market is anticipated to grow with a CAGR of nearly 9.1%, during the forecast period.

COVID-19 had a significant impact on the studied market as it significantly increased the incidence of pulmonary embolism among patients. Inferior vena cava (IVC) filters are often used for treating pulmonary embolism, so the rising incidence of the disease during the early pandemic also increased the usage of IVC filters. For instance, according to an article published by BMC Respiratory Research in November 2021, a study was conducted in France which showed that the overall number of patients hospitalized with pulmonary embolism increased by approximately 16% during the early pandemic. These increases were mostly attributed to COVID-19 waves, which were associated with pulmonary embolism hospitalization in COVID-19 patients. Hence, the pandemic had a significant impact on the market initially. However, as the pandemic has currently subsided, the risk of getting a pulmonary embolism has also decreased, thus the studied market is expected to have stable growth during the forecast period of the study.

Factors such as the rising prevalence of cardiac ailments and the growing demand for minimally invasive techniques are the major factors driving the market growth. Pulmonary embolism (PE) and venous thromboembolism (VTE) are the two diseases where IVC filters are used for treatment. The rising prevalence of these diseases around the world is a major factor driving the growth of the market. For instance, according to an article published by the JAMA Network in October 2022, pulmonary embolism (PE) is often characterized by occlusion of blood flow in a pulmonary artery, which happens typically due to a thrombus that travels from a vein in a lower limb. The incidence of PE is estimated to be approximately 60 to 120 per 100,000 people per year globally.

Furthermore, according to an article published by Frontiers in March 2022, Venous thromboembolism (VTE) is often associated with pulmonary embolism (PE) and deep venous thrombosis (DVT). It is estimated that there are 375,000 - 425,000 newly diagnosed patients per year in the United States that are suffering from these diseases. Hence, the rising prevalence of such diseases is expected to increase the usage of IVC filters.

Additionally, the advantages of the treatment of VTE using IVC filters are also enhancing the market growth. For instance, according to an article updated by NCBI in August 2022, various organizations around the world such as the American Heart Association (AHA) and American College of Chest Physicians (ACCP) recommend the use of inferior vena cava (IVC) filters in patients that have the venous thromboembolic disease (VTE) and having a contraindication to anticoagulant medications.

Thus, the above-mentioned factors such as the increasing prevalence of pulmonary embolism (PE) and venous thromboembolism (VTE), and the advantages of IVC filters, are expected to boost the growth of the market. However, the risks associated with device malfunction and the lack of awareness in developing countries are expected to impede market growth.