Global Inferior Vena Cava (IVC) Filters Market 2018-2022
About Inferior Vena Cava (IVC) Filters
The IVCF is a type of vascular filter that is inserted into the inferior vena cava to prevent blood clots from moving from the veins in the legs and pelvis to the lung, which can lead to life-threatening pulmonary embolism (PE).
Technavio’s analysts forecast the global inferior vena cava (IVC) filters market to grow at a CAGR of 11.24% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global inferior vena cava (IVC) filters market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Inferior Vena Cava (IVC) Filters Market 2018-2022
Technavio recognizes the following companies as the key players in the global inferior vena cava (IVC) filters market: Argon Medical Devices, B. Braun Melsungen, Boston Scientific, C. R. Bard, and Cook Medical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological advances. Technological advances in the fabrication of IVCF has made them smaller, easier to insert percutaneously, and capable of insertion at the bedside. Furthermore, improvements in MRI compatibility, modes of venous access, and the ability to accommodate various vena cava diameters has resulted in a steady increase in the deployment of IVCFs.”
According to the report, one driver in the market is increasing incidence of venous thromboembolism (VTE). The incidence of VTE and its related risk factors is increasing globally. VTE is a combination of a PE and DVT. DVT is a medical condition that occurs when a blood clot forms in a deep vein. PE is a medical condition in which a clump of material, usually a blood clot, gets wedged into an artery of the lung. There are more than nine million cases of VTE every year globally.
Further, the report states that one challenge in the market is high cost of the IVCF devices and procedures. The high cost of IVCF devices and placement procedures is limiting their adoption by the end-users. The average cost of IVCF device is approximately $1,000. Apart from the cost of the device, end-users also have to bear additional costs on consumables and labor costs for its insertion and removal. The average cost of placement procedure associated with placement of IVF is approximately $1,300 and $600 for the retrieval procedure.
Argon Medical Devices, B. Braun Melsungen, Boston Scientific, C. R. Bard, and Cook Medical.