Global Catheter-Directed ThrombolysisMarket Size, Forecast, and Trend Highlights Over 2022 - 2031
The global catheter-directed thrombolysis market is estimated to garner a revenue of ~USD 812 Million by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 336 Million in the year 2021. The growth of the market is primarily attributed to the increasing prevalence of pulmonary embolism and deep vein thrombosis (DVT) amidst increasing number of stroke issues. For instance, every year approximately 900,010 number of people affected by deep vein thrombosis (DVT) or pulmonary embolism (PE).
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Catheter-directed thrombolysis is a prominent treatment to treat blood vessel clots by improving blood flow and deterring tissue damage. Thrombolysis is a sort of minimally invasive endovascular therapy. It primarily includes injecting clot-busting drugs through an intravenous (IV) line or a catheter-directed thrombolysis (CDT) device, which supplies the drugs directly to the blocking sites for anticoagulation. Catheter-directed thrombolysis device consists an X-Ray camera, catheter, special medicines, and a medical device used to disperse blood clots. CDT devices are safer than traditional surgical intervention such as surgical balloon thrombectomy, allowing for shorter hospital stays while reducing patient trauma and health issues.As per the data provided by the National Center for Biotechnology Information, trauma is the major cause of death among young adults and accounts for 10% of all deaths in men and women. Every year, approximately 50 million people visit the emergency department in the United States owing to trauma.
Global Catheter-Directed Thrombolysis Market: Growth Drivers and Challenges
Growth Drivers
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Increased Prevalence of Obesity - Obesity is a complicated illness caused by an excess of body fat. It's a medical condition that raises the risk of other diseases and health issues like heart disease, diabetes, and certain types of cancer.As per the data released by the World Health Organization (WHO), by 2022, more than one billion people worldwide have effected by obesity, including 650 million adults, 340 million adolescents, and 39 million children. This figure is still steadily increasing.
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Growing Number of Strokes - A stroke occurs when a blood vessel in the brain ruptures and bleeds, or when the blood supply to the brain is cut off. Stroke is the most common reason for severe long-term impairment.For instance, every year, over 12.5 million new strokes occur, out of which, people aged between 15 to 49 account for more than 16% of all stroke cases.
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Upsurge in Chronic Diseases - Globally, the prevalence of chronic diseases and ailments is soaring, which is effecting the life of several people. For instance, by 2020, the prevalence of chronic diseases was increased by 59%.
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Increasing Chronic Kidney Disease (CKD) - Globally, kidney disease is one of the primary causes of death.As per the data released by the Center for Disease Control and Prevention (CDC), approximately 37 million US adults are expected to have chronic kidney disease by 2022, with the majority remaining undiagnosed.
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Increasing Geriatric Population – Aged people are more prone to numerous serious medical conditions and require immediate treatment. According to the data by the United Nations, by 2050, 1 in every 6 people in the world is estimated to be over age of 65 (16%), which is up from one in 11 in 2019 (9%).
Challenges
- Shortage of Advanced Healthcare Infrastructure in Developing Countries
- Risk Coupled with Catheter-Directed Thrombolysis
- Lack of Knowledge About the Procedure
The global catheter-directed thrombolysismarket is segmented and analyzed for demand and supply by end-user intoambulatory surgical centers, hospitals, radiology clinics, and others. Out of these, hospitals segment is estimated to significantly grow over the forecast period owing to theincreasing number of patients of pulmonary embolism, and deep vein thrombosis, and increasing government investments in healthcare sector. Asper the data by the World Bank, the world-wide health expenditure in 2019 was grown to 9.83%.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capitaexpenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Catheter-Directed Thrombolysis Market Regional Synopsis
Regionally, the global catheter-directed thrombolysis market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031 backed by the availability of advanced healthcare facilities, increase in healthcare expenditure, and growing disposable incomein the region.According to the data released by the Centers for Medicare & Medicaid Services (CMS), in 2020, US national healthcare expenditure expanded 9.7% to USD 4.1 trillion, equivalent to USD 12,530 per person, representing for 19.7% of Gross Domestic Product.
The global catheter-directed thrombolysis market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global catheter-directed thrombolysis market includes the following segments:
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By Delivery Mode |
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By Indication |
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By End-User |
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Top Featured Companies Dominating the Global Catheter-Directed Thrombolysis Market
- Boston Scientific Corporation (BSC)
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Baxter AG
- AngioDynamics, Inc.
- Ivascular, S.L.U
- Teleflex Incorporated
- Penumbra, Inc.
- Thrombolex, Inc.
- Medtronic
- BrosMed Medical Co.
