Global Clot Management Devices Market: Overview
According to an article published in the Journal of Thrombosis and Haemostasis, the awareness about venous thromboembolism (VTE) remains alarmingly low. What makes this scenario more concerning is that nearly 10 million VTE cases are estimated to occur every year across the world making this condition among the leading causes of disability worldwide. The International Society on Thrombosis and Haemostasis, Inc. states that while the United States reports anywhere between 100,000 and 300,000 deaths resulting from VTE every year, this number is as high as 544,000 in Europe. A blood clot is several times more dangerous when it breaks away from the blood vessel wall (where it may have formed) and travels to the heart or lungs, creating a fatal blockage.
However, it is now widely believed that VTE-related hospital death is preventable, as the majority of VTE cases occur during or just after hospitalization. Medical experts are stressing on the use of the right clot management devices and therapeutics so that concerns about VTE as a public health problem can be alleviated. This realization has helped created appreciable demand for clot management devices across the world.
As awareness about deep vein thrombosis and pulmonary embolism rises, it is expected that more people will also become aware about VTE as a condition that could prove fatal if not addressed in time.
Moreover, with approvals for self-monitoring devices coming in a faster rate than before, the global market for clot management devices will gain traction and stay firmly on the growth path in the coming years. In this report, this market is discussed at length and estimates are provided for the best-selling clot management devices. The overall revenue that clot management devices will generate worldwide by 2024 is also projected in the report.
Global Clot Management Devices Market: Drivers and Restraints
Newer approaches to clot management are now receiving greater acceptance among the medical community. This is expected to create a favorable environment for the growth of the global clot management devices market. The demand for effective clot management devices is also increasing because patients are wary of the many risks and discomforts associated with open-heart surgery and other highly invasive procedures. The demand for clot management devices will also rise with many medical surgeons now recommending percutaneous devices as an alternative to open surgeries.
Despite the conditions currently indicating a positive outlook for the global clot management devices market, a gap between the demand and supply of trained physicians in many parts of the world will act against the market’s growth. Moreover, reimbursement policies are not well-defined in many developing countries, which could also hamper the growth of the global clot management devices market.
Global Clot Management Devices Market: Segmentation and Region-wise Outlook
The global market for clot management devices can be broadly segmented on the basis of end users and the type of device used. By device type, the market can be segmented into: Embelectomy balloon catheters, neurovascular embelectomy devices, catheter-directed thrombolysis (CDT) devices, percutaneous thrombectomy devices, and inferior vena cava filters (IVCF).
The demand for percutaneous thrombectomy devices has been rising at a healthy rate over the last few years. It is expected that several new research initiatives exploring new types of percutaneous thrombectomy devices will be reported through the report’s forecast period. By end use, the key segments of the clot management devices market are hospitals and diagnostic centers.
From the geographical standpoint, the global clot management devices market can be split into: North America, Asia Pacific, Europe, and Rest of the World. The United States is projected to remain at the forefront as far as innovation in clot management devices is concerned. Neurovascular embelectomy devices are expected to give the clot management devices market in the U.S. a further upward thrust.
Among the top players in this market are: Straub Medical, Argon Medical Devices, Edwards Lifesciences, DePuy Synthes, and LeMaitre Vascular.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.