APAC Inferior Vena Cava Filter Market

APAC Inferior Vena Cava Filter Market Size (2022 to 2027)

The size of the Asia-Pacific Inferior Vena Cava Filter market was around USD 153.31 million in 2022. It is expected to grow at a CAGR of 11.20% to reach USD 260.67 million by 2027.

The inferior vena cava filter market in the APAC region is expected to expand because of the increased prevalence of cardiovascular diseases and the strong demand for minimally invasive procedures. Increased incidence of VTE or PE due to an aging population, sedentary lifestyles, and lifestyle-related disorders are driving the demand for Asia Pacific inferior vena cava filters. These factors have resulted in a significant need for retrievable or optional filters and methods for adequately placing and retrieving them. Advances in healthcare technology and the advent of complex devices such as convertible, combination, bio-convertible filters, and central venous filters are boosting the market for inferior vena cava filters. The insertion of an IVC filter has become more accessible and more successful due to advances in medical imaging. Medical imaging advancements will also lower operational risk and increase procedure accuracy. The amount of research being done to produce smaller filters and improve insertion techniques has grown. The expansion of the Inferior Vena Cava market is expected to be aided by the development of technologically improved IVC Filters.

The cost of IVC filter implantation operations is now relatively high, and a large portion of the population cannot afford such exorbitant prices. The market for Inferior Vena Cava is claimed to be constrained due to this. The general public has little or no understanding of cardiovascular disease issues and treatment options. They rely heavily on professional medical advice. Anticoagulant medications are used to treat most thrombotic situations unless surgery is required. As a result, there is a lack of knowledge about the availability and use of Inferior Vena Cava Filters.

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

By Product Type: 

• Retrievable IVC
• Permanent IVC

By Application: 

• Treatment of Venous Thromboembolism
• Preventive Pulmonary embolism

By Material: 

• Non-Ferromagnetic Material
• Ferromagnetic Material

By End User: 

• Hospitals
• Ambulatory Surgical Centers
• Others

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

In 2020, Asia Pacific had the third-largest share in the global market. IVC filter volumes have steadily increased in the region over the last few years, owing to rising healthcare expenditures in emerging nations due to aging populations and increasing rates of chronic disease management. China, the world's second-largest economy, is expected to grow at a CAGR of 10.5% over the forecast period. Japan and Canada are two other prominent geographic markets for the analysis period. Increased research and development expenditures, expansion in the cardiac devices market, rising healthcare spending in emerging economies, and technology spillover in nascent markets are all driving factors for the inferior vena cava filter. Because of the large patient population and growing awareness about cardiovascular disease and treatment alternatives, the APAC market is likely to grow rapidly throughout the forecast period.

KEY MARKET PLAYERS:

Some of the key players of the IVC filters market include C.R. Bard, Boston Scientific, Cardinal Health, Cook Medical, B.Braun, ALN, Braile Biomedica, Philips Volcano, Argon Medical Devices, and VENITI.