Latin America Inferior Vena Cava Filter Market

Latin America Inferior Vena Cava Filter Market Size (2022 to 2027)

The size of the Latin American Inferior Vena Cava Filter market was around USD 78.07 million in 2022. It is expected to grow at a CAGR of 8.10% to reach USD 115.24 million by 2027.

Inferior Vena Cava (IVC) in the human body, which transports deoxygenated blood from the lower body to the heart. An inferior vena cava filter is inserted into the vena cava to catch embolisms and blood clots before reaching the lungs. These devices can be implanted permanently or temporarily, depending on the necessity for therapy.

The rise in inclination for minimally invasive procedures with improved medical imaging across various medical settings is one of the key factors driving the growth of the Latin American inferior vena cava (IVC) filters market. In addition, the essential part of the demand for surgical treatments to avoid pulmonary embolism has sparked interest in the healthcare business's inferior vena cava (IVC) filters. Blood clots that have traveled to the heart and lungs, most commonly produced by a deep vein thrombosis, are the most common cause of pulmonary embolism. Furthermore, advances in healthcare technology and the introduction of complex devices such as convertible, combination, and bio-convertible filters and central venous catheters also benefit the Latin American market for inferior vena cava filters. In addition, the introduction of digital catheterization laboratories is expected to provide an attractive potential for market expansion.

Clinicians are becoming more interested in IVC filters as the number of patients who have failed to respond to anticoagulant therapy grows. Furthermore, the significant mortality that cardiovascular illnesses have caused in the patient population has bolstered the IVC market's prospects. The aging population in Latin America necessitates higher healthcare expenses.

However, the high cost of treatments connected with IVC filters limits market expansion.

This research report on the Latin American 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:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, Latin America accounted for a moderate share of the global market in terms of revenue in 2020 and is forecasted to register a healthy growth rate during the forecast period due to the high prevalence and awareness of cardiovascular illnesses and the availability of sophisticated healthcare infrastructure. As a result, manufacturers are focusing on growing areas, particularly Latin America, for continued expansion due to potential prospects.

Mexico and Brazil together are expected to account for the most significant share of the Latin American market during the forecast period. The rising prevalence of cardiovascular illnesses in countries such as Mexico and Brazil boosted the market for IVC filters. Ischemic heart disease and strokes have become more common in some of these economies in recent years.

KEY MARKET PLAYERS:

Companies playing a pivotal role in the Latin American 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.