The global vena cava clips and filters market is expected to post a CAGR of more than 11% during the period 2019-2023, according to the latest market research report by Technavio.
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There has been a continuous increase in the clinical utilization of IVCFs due to the introduction of advanced techniques. This has further improved IVCFs placement and removal procedures. Furthermore, techniques for removing permanent filters have also developed, resulting in the increasing focus on the development of percutaneous insertion techniques and smaller introducers. This has further helped in reducing the risk and complexity associated with the IVCF placement and removal procedures. As a result, with growing advances in the placement techniques, the demand for vena cava clips and filters will surge during the forecast period.
As per Technavio’s vena cava clips and filters market outlook, the R&D and launch of technologically advanced VCFs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global vena cava clips and filters market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over the forecast period.
Global vena cava clips and filters market: R&D and launch of technologically advanced VCFs
Vena cava clip and filter manufacturers are investing in R&D to develop technologically advanced VCFs to meet the evolving demands of different stakeholders in the healthcare industry. This has led to the development of VCFs that are smaller, easier to insert percutaneously, and capable of insertion at the bedside. Also, improvements in magnetic resonance imaging (MRI) compatibility, coupled with modes of venous access and the ability to accommodate various vena cava diameters has resulted in a steady increase in the deployment of VCFs.
“Several vena cava clip and filter market players are developing absorbable IVCF, bioconvertible IVCF, and other modern devices which overcome many of the known complications associated with the existing or currently available devices. Furthermore, rising focus on improving the design of drug-eluting vena cava filter for inhibiting intimal hyperplasia and thrombus formation will also contribute to the growth of the vena cava clips and filters market over the next few years,” says a senior research analyst at Technavio.
Global vena cava clips and filters market: Segmentation analysis
This vena cava clips and filter market analysis segments the global vena cava clips and filters market by product (interior vena cava filters (IVCFs), and superior vena cava filters (SVCFs)) and geographic regions (North America, Europe, Asia, and ROW).
North America led the market in 2018, followed by Europe, Asia, and ROW, respectively. The market growth in North America can be attributed to the increased adoption of advanced VCFs. Several other factors including the improved healthcare infrastructure, high prevalence of VTE and their related risk factors, and the increased number of VCF placement procedures being performed are likely to foster the vena cava clips and filters market growth during the forecast period.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Competitive scenario
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