Clot Management Devices Market By Product (Neurovascular Embolectomy Devices, Embolectomy Balloon Catheters, Percutaneous Thrombectomy Devices, Catheter-Directed Thrombolysis (CDT) Devices, Inferior Vena Cava Filters (IVCF)) , By End User (Diagnostic Centers, Hospitals) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Clot Management Devices Market
The clot management devices market was valued at $1.9 billion in 2023 and is projected to reach $3.2 billion by 2033, growing at a CAGR of 5.2% from 2024 to 2033.
A clot management device is an equipment that restores proper circulation of blood in a living body by removing or dissolving coagulated blood. It is primarily used in conditions such as deep vein thrombosis, pulmonary embolism, and arterial thrombosis. The device can be mechanical, chemical-based, laser-powered, or compressional. Along with clot treatment, a clot management device monitors blood flow in real time to improve patient outcomes.
Exponential growth in the aging population and increase in prevalence of thromboembolic disorders have boosted the demand for clot management devices, augmenting the development of the market. In addition, rise in awareness regarding the importance of circulatory and thromboembolic health has fueled periodic screening & diagnosis examinations among individuals, driving the growth of the market. Currently, the trend of integrating minimally invasive techniques and robotics is acquiring traction in the clot management devices market. The assimilation of these cutting-edge techniques improves the precision of operation, reduces the risk of complications, and lowers the recovery period.
However, the advent of technologically advanced clot management devices restrains the growth of the market as the high costs limit their adoption in small-scale healthcare facilities. Furthermore, inadequate reimbursement policies deter several medical institutions from investing in such expensive equipment, thereby hampering the market development. Moreover, concerns pertaining to blood vessel damage and infections after surgery hinder the market growth significantly. On the contrary, assimilation of telemedicine approach into the device to facilitate round-the-clock monitoring of patients in complicated cases is anticipated to present lucrative opportunities for the clot management devices market. According to the U.S. Center for Disease Control and Prevention, more than one-third of the diagnosed thromboembolic disorders occur due to recent hospitalization, which generally intensify after discharge. Therefore, telemedicine techniques are expected to facilitate continuous patient monitoring post-discharge, opening new avenues for the clot management devices market.
Segment ReviewThe clot management devices market is segmented into product, end user, and region. On the basis of product, the market is divided into neurovascular embolectomy devices, embolectomy balloon catheters, percutaneous thrombectomy devices, catheter-directed thrombolysis (CDT) devices, and inferior vena cava filters (IVCF). Depending on end user, it is bifurcated into diagnostic centers and hospitals. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product, the percutaneous thrombectomy devices segment held a high share of the market in 2023.
Depending on end user, the hospitals segment dominated the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global clot management devices market include Medtronic, Boston Scientific Corporation, iVascular SLU, Teleflex Incorporated, Edwards Lifesciences Corporation, Lemaitre Vascular, Inc., Vascular Solutions, Inc., Straub Medical AG, Cook Group, and Johnson & Johnson. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy ProductNeurovascular Embolectomy Devices
Embolectomy Balloon Catheters
Percutaneous Thrombectomy Devices
Catheter-Directed Thrombolysis (CDT) Devices
Inferior Vena Cava Filters (IVCF)
By End UserDiagnostic Centers
Hospitals
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersMedtronic
Boston Scientific Corporation
iVascular SLU
Teleflex Incorporated
Edwards Lifesciences Corporation
Lemaitre Vascular, Inc.
Vascular Solutions, Inc.
Straub Medical AG
Cook Group
Johnson & Johnson