Inferior Vena Cava Filters Market size is projected to experience significant growth from 2019 to 2025. The vein that carries deoxygenated blood from the lower and middle body to the heart is called inferior vena cava. An inferior vena cava filter is a vascular filter that is used to treat high risk cases of pulmonary emboli. The placement of inferior vena cava filters is done endovascularly below kidney in order to capture embolism.
With rise in minimally invasive surgeries, especially in the field of cardiovascular surgery, the demand for inferior vena cava filters will increase. Growing cases of cardiovascular disorders, rising sedentary lifestyle and increasing adoption of unhealthy food eating habits will boost the inferior vena cava filters market growth over the forthcoming years.
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Moreover, improving reimbursements scenario of healthcare policies in developing as well as developed economies will augment the growth of global inferior vena cava filters market. The governments of various countries are also taking initiatives to provide medical cover to their citizens. Such growing government initiatives to promote reimbursement policies across the world will augment the demand for inferior vena cava filters over the forthcoming years.
Advancements in healthcare technology and increasing geriatric population are significant factors that will boost the market growth. The hospital segment accounts for a large share of the inferior vena cava filters market by end-use owing to higher demand for these devices owing to ability to cater large patient volume. However, risk associated with implantation of inferior vena cava filters and stringent government regulations will hinder the market growth over the foreseeable future. Also, lack of skilled medical professionals and high cost of inferior vena cava filters might hamper the growth.
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The highest contribution in the global inferior vena cava filters market is held by the U.S. in 2018. The factors responsible for the high contribution include huge investment on R&D related to cardiovascular disorders, high acceptance for advance technology amongst end-users, presence of well-developed healthcare infrastructure and the presence of major market players in the country. The growth of U.S. inferior vena cava filter will also be driven due to high healthcare expenditure in the country.
Japan is projected to show promising growth in the global inferior vena cava filters market over the estimation period. The growth is attributed to the emerging advancements in healthcare technologies, presence of skilled medical professionals, rising geriatric population and improving healthcare infrastructure. Abovementioned factors will augment the demand for inferior vena cava filters, thereby boosting the market growth.
Cardinal Health, Boston Scientific Corporation Inc., C. R. Bard, Cook Medical, ALN, Braile Biomdica, VENITI, B. Braun Melsungen AG Inc., Argon Medical Devices, Inc., and Koninklijke Philips N.V. are few of the major market players of the global inferior vena cava filters market. Key strategic initiatives such as partnerships, mergers, technological advancements, capacity expansion and innovative product launches are taken by major players in order to improve their business portfolio.