Inferior Vena Cava Filter Market

Global Inferior Vena Cava Filter Market Size (2024 to 2032)

The global inferior vena cava filter market was worth US$ 786 million in 2023 and is anticipated to reach a valuation of US$ 1,767 million by 2032 from US$ 860 million in 2024, and it is predicted to register a CAGR of 9.42% during the forecast period 2024-2032.

Current Scenario of the Global Inferior Vena Cava Filter Market

The IVC filters are small cone-shaped devices inserted in the inferior vena cava just below the kidneys. The inferior vena cava (IVC) is a large vein that sends deoxygenated blood from the lower and middle-level body into the heart's right atrium. Based on the patients, these devices are inserted either permanently or temporarily. Over the years, clinicians have used the recent IVC filter technologies as an alternative to anticoagulants to minimize mixing mortality due to pulmonary embolism. The IVC filters are used in patients when anticoagulant therapy cannot effectively treat the risk of pulmonary embolism. The U.S. Food and Drug Administration surveillance provided information about the execution of IVC filters associated with the risk of pulmonary embolism.

MARKET DRIVERS

The growing number of patients diagnosed with cardiovascular diseases and rising demand for optional & retrievable IVC filters propel the Inferior vena cava filters market growth.

The growing preference for minimally invasive surgeries with advancing medical imaging procedures worldwide drives the global inferior vena cava filter market growth. Also, increasing innovative approaches for retrieval/patient and developing digital catheterization laboratories favor market growth. In addition, increasing awareness among the people about the inferior vena cava filter treatments and government initiatives and investments to establish advanced infrastructure facilities are projected to propel the market growth of the inferior vena cava market during the forecast period.

MARKET RESTRAINTS

The Inferior vena cava treatment involves higher-cost procedures, which is the major challenge restraining market growth. In addition, the lack of awareness in emerging countries of people in rural areas about IVC treatment is a challenge for the inferior vena cava filter market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Inferior Vena Cava Filter Market Analysis By Application

Based on the application, the venous thromboembolism segment held the largest market share in 2023 and is predicted to continue its dominating trend throughout the forecast period. Venous Thromboembolism's treatment includes injectables, such as heparin or low molecular heparin, and tablets like apixaban, dabigatran, and edoxaban warfarin, and this medication must be used for months.

Global Inferior Vena Cava Filter Market Analysis By Product Type

Based on the product type, the retrievable IVC filter segment is anticipated to register the lead in the market during the forecast period. Rising presence for optional IVCFs as they provide flexibility to remove IVCFs based on the patient's requirements. Physicians adopt retrievable IVCs because of easy insertion. However, these devices have higher device complications in the long run.

Global Inferior Vena Cava Filter Market Analysis By Material

Based on the material, the non-ferromagnetic material segment is expected to hold a significant market share during the forecast period. This is because non-ferromagnetic material does not contain iron; these are widely used components globally.

Global Inferior Vena Cava Filter Market Analysis By End User

Based on the end-user, the hospital segment recorded 84% of the global IVC filters market in 2023. The hospitals use advanced IVC filters as the retrieval options, improve healthcare infrastructure, and improve healthcare spending and investments by the governments of the market growth of the hospital segment.

REGIONAL ANALYSIS

Geographically, the North American market is forecasted to dominate the global market closely, followed by Europe during the forecast period. The high geriatric population and snowballing cases of cardiovascular diseases are the primary growth factors for the Western markets. Growing patient awareness of the treatments for cardiovascular diseases makes the potential for market expansion in Asia massive. The U.S. is the major contributor to the North American market growth. North America recorded a 44% global market share of the IVC filter market, which is expected to increase by around 80% during the forecast period.

The European market was the second-largest regional market globally in 2023 and is estimated to witness a healthy CAGR during the forecast period. Factors such as increased PE incidence and a rising geriatric population in this region will likely improve the market growth. Moreover, the rapid adoption of advanced vena cave filters is expected to expand the market growth.

The Asia Pacific regional market had a predominant share of the global market in 2023 and is predicted to showcase a robust CAGR during the forecast period. Factors such as an increase in the presence of a large patient pool population, increasing healthcare expenditure, and developing infrastructure facilities are expected to drive the market growth. However, the market is anticipated to gain market growth with influential growth factors in the coming years.

The Latin American market is expected to grow steadily during the forecast period. Regional market expansion is driven by growth factors such as research activities on IVC filters and increased hospital spending.

The IVC filters market in Middle East Africa accounted for a smaller global market share. The market strengthening is driven by the adoption of advanced inferior vena cava filters, a large patient pool, and innovative approaches to retrieving/patient and creating awareness among the people about the availability of IVC filter treatments to witness significant market growth during the forecast period.

KEY PLAYERS IN THE GLOBAL INFERIOR VENA CAVA FILTER MARKET

Some of the notable competitors leading the global inferior vena cava filter market profiled in this report are C.R. Bard, Boston Scientific, Cardinal Health, Cook Medical, B.Braun, ALN, Braile Biomedica, Philips Volcano, Argon Medical Devices, and VENITI, and Others.

DETAILED SEGMENTATION OF GLOBAL INFERIOR VENA CAVA FILTER MARKET INCLUDED IN THIS REPORT

This research report on the global inferior vena cava filter market has been segmented and sub-segmented into the following categories.

By Application

• Treatment of Venous Thromboembolism
• Preventive Pulmonary embolism

By Product Type

• Retrievable IVC
• Permanent IVC

By Material

• Non-Ferromagnetic Material
• Ferromagnetic Material

By End User

• Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa