The Global Vena Cava Filters market is one of the most thriving sectors of the medical technology industry, witnessing new developments and innovations every year. Unmarred by the economic slowdown of 2008-2009 and the plummet in healthcare expenditure that followed, the market displayed steady growth reaching a net size of $US 561 million by 2012. It’s also worth noting that unlike some niche markets which thrive in one specific region but falter in others, this is one area that is seeing success all across the globe as we’ll outline below.
The Americas are the current leaders in terms of annual revenue from Vena Cava Filters, accounting for $US 303 million in 2012. It’s set to continue rising at a CAGR of 9.75 percent during the forecast period, largely thanks to two factors:
#1. Increased demand for retrievable filters in the region
#2. Large presence of vendor headquarters in the US
Following, is the EMEA region, which accounted for a 24 percent market share in 2012. With over 1.2 million PE cases diagnosed in the US and Europe every year and over 300,000 related deaths, the market is expected to witness a long term growing demand for vena cava filters.
Despite the dominance of the Americas and the EMEA, the market’s little guy in terms of revenue share—the APAC region— is expected to grow at a much higher rate than all other regions. This accelerated rate of adoption is mainly due to the increase in risk factors like the aging population, PEs, CVDs, and DVTs in developing countries such as China and India. Key global players have identified these drivers and are tripping over each other’s feet to capitalize on them, propelling the APAC’s sales of vena cave filters even further.
After considering the above it seems safe to say that across all corners of the globe, market horizons are exceedingly optimistic and it all comes down to one cornerstone: When it comes to any technology that has the potential to save virtually millions of lives, everyone is a stakeholder, both end-users and vendors. Such is the case with the Global Vena Cava Filters Market.
For more information, view our 2012-2016 report on the Global Vena Cava Filters Market.
