The size of the North America Inferior Vena Cava Filter market size was around USD 222.53 million in 2022. It is expected to grow at a CAGR of 9.34% to reach USD 347.76 million by 2027.
Y-O-Y rise in the prevalence of cardiac ailments in the North American countries is one of the significant factors promoting the inferior vena cave filters market in this region. Another key factor driving the growth of the inferior vena cava (IVC) filter market is an increasing demand for minimally invasive techniques with superior medical imaging in rising countries such as the United States and Canada.
VTE is becoming more common in North America. According to the Centers for Disease Control and Prevention (CDC), while the exact number of people afflicted by VTE is unknown, as many as 900,000 people (1 to 2 per 1,000) may be impacted in the United States each year. As a result of this rising incidence, the Inferior Vena Cava Filter market is expected to expand rapidly during the forecast period. These filters are used to catch an embolism, a blood clot that has broken free from a deep vein in the legs and is on its way to the heart and lungs. They've gained traction throughout the years since their absence causes embolism, which causes a blockage of the pulmonary artery.
According to epidemiological research, more than 1 million people in the United States are impacted by PE each year, with 100,000-200,000 people dead as a result. In the United States alone, the total healthcare spending on PE is projected to be more than $1.5 billion every year.
Over the years, there has been significant growth in the inferior vena cava filter placement procedures, owing to the rising awareness and importance of these filters in avoiding life-threatening conditions caused by blood clots.
Other factors such as the growing geriatric population, associated sedentary lifestyles, unhealthy food habits, tobacco smoking, and the rise in lifestyle-related diseases significantly influence the inferior vena cava market. On the other hand, the rising prevalence of chronic conditions such as obesity and the increasing prevalence of PE at a steady rate is expected to uplift the market growth. In addition, the growing adoption of innovative approaches, surging demand for optional and retrievable IVC filters, and advancements in devices, such as convertible, convertible, and the combination of IVC filters, contribute to the regional market growth.
However, significant problems such as IVC thrombosis occur in a non-negligible proportion of patients who receive these devices, particularly in various high-risk categories such as patients with metastatic disease. Therefore, such variables are predicted to have a limited impact on the North American Inferior Vena Cava Filter market.
This research report on the North American inferior vena cava filter market has been segmented and sub-segmented into the following categories:
By Product Type:
By Application:
By Material:
By End User:
By Country:
Geographically, North America dominated the global inferior vena cava filters market in 2020, and it is anticipated to register a significant share during the forecast period. The regional market growth is driven owing to the high prevalence of cardiac ailments, growing awareness, and expanding healthcare infrastructure. In addition, the presence of leading market players, favorable reimbursement policies, and high healthcare expenditure is contributing to the market growth.
The U.S. held the largest share in the North American market in 2020, and it is most likely to showcase the fastest growth rate during the forecast period. The US witnessed technological advancements in the healthcare sector, boosting the market growth. However, increasing research and development activities, a growing geriatric population, and increasing acceptance of advanced filters accelerate market growth.
On the other hand, the Canadian market is estimated to occupy a promising share in the North American market during the forecast period. Supportive government policies, the rising prevalence of related patients, and the growing preference for minimally invasive techniques boost the market growth.
KEY MARKET PLAYERS:
Some of the key players of the North 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.
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