| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Venous Thromboembolism Treatment Market Size 2023 |
USD 1299.51 Million |
| Venous Thromboembolism Treatment Market, CAGR |
7.67% |
| Venous Thromboembolism Treatment Market Size 2032 |
USD XX Million |
Market Overview
Venous thromboembolism (VTE) refers to the formation of blood clots in the deep veins, most commonly in the legs or lungs. It encompasses two related conditions: deep vein thrombosis (DVT) and pulmonary embolism (PE). VTE is a significant healthcare burden that affects approximately 900,000 people annually in the United States.
The global VTE treatment market was valued at USD 1299.51 million in 2023. It is expected to expand at a compound annual growth rate (CAGR) of 7.67% between 2024 and 2032. Growth drivers of this market include an aging population, a rise in surgical procedures, the prevalence of obesity and sedentary lifestyles, and improved diagnosis of VTE. The approval and launch of novel oral anticoagulants (NOACs) have also boosted the market in recent years.
North America and Europe, which have a high incidence of VTE, together currently capture over 50% of the global VTE treatment market. However, Asia Pacific will likely exhibit the fastest growth at a CAGR of ~8% from 2024–2032. Rising healthcare spending and healthcare infrastructure modernization efforts in Asian countries are expected to fuel growth in the APAC region.
Key players operating in the global VTE market include Bristol-Myers Squibb, Pfizer, Bayer, Janssen Pharmaceuticals, Armetheon, BioInvent Pharmaceuticals, and Daiichi Sankyo Company. Mergers, acquisitions, and the development of novel drugs are major strategies adopted by these companies to expand their shares. For instance, oral Xa inhibitors such as apixaban, rivaroxaban, and edoxaban have recently been widely adopted owing to their efficacy and safety profiles.
Some of the unmet needs in this market include a lack of awareness about available therapies and deficiencies in the initiation of pharmacological prophylaxis. Additionally, there remains an opportunity to develop convenient outpatient treatment therapies for VTE. Overcoming these barriers can unlock significant value in this steadily growing market.
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Key market drivers
The rising senior population globally is a major driver for the venous thromboembolism treatment market. WHO estimates that the global population aged 60 years and older is projected to grow by 56% between 2015 and 2030, reaching nearly 2.1 billion. Since advanced age is a prominent risk factor for VTE, this expanding demographic is expected to increase the patient pool and propel market growth significantly. Moreover, increasing age-related surgeries like knee and hip replacements, predisposing elderly individuals to blood clots, will also boost market growth.
Another key driver is the growing prevalence of obesity across populations, which leads to heightened VTE risk. According to an estimate, obese individuals are twice as likely to develop VTE compared to those with a normal BMI. The rapidly rising obesity rates globally, with nearly 30% of the world’s population currently being obese or overweight, translate to a greater incidence of VTE events. Lack of physical activity and sedentary lifestyles further exacerbate the risk. With the prevalence of obesity on track to grow steadily, the patient pool and clinical urgency to treat VTE are likely to amplify, benefiting the market. Additionally, better diagnosis rates, aided by advances in diagnostic tools and greater availability of and access to healthcare, are resulting in the identification of more VTE cases, fueling market expansion.
Key market restraints
A major factor restricting the growth of the VTE market is the lack of awareness among patients and healthcare providers about available treatments. Many patients fail to recognize early VTE symptoms or do not take them seriously enough to seek timely medical care. Additionally, despite established clinical guidelines, many medical practitioners also fail to diagnose VTE, leading to complications like pulmonary embolism properly. There is also an inertia in initiating preventive pharmacological therapies among hospitalized patients who face VTE risk. Furthermore, a shortage of trained personnel to administer VTE treatment therapies in underdeveloped regions hinders adoption. Additionally, patent expiries of branded anticoagulants face pricing pressures from generics, limiting market value growth. Overcoming such awareness and health system-related challenges and monopolizing new oral anticoagulant markets can help players tap into the full potential offered by increasing VTE prevalence.
Market Opportunities
- Development of convenient outpatient treatment therapies: There is scope for oral anticoagulants that do not require intensive monitoring, allowing transition to outpatient settings after hospital discharge.
- Innovative drug-device combinations: Opportunities exist for self-administered drug delivery devices for VTE treatment to overcome dependency on trained personnel for administration.
- Expansion in emerging economies: Low awareness and diagnosis rates in developing regions, coupled with improving healthcare access and infrastructure, provide untapped growth potential.
- Unmet needs for specific conditions: need for targeted therapies for VTE associated with cancer, thrombophilic conditions, and chronic kidney disease, which often show poor response to current treatments.
- Diagnostic advances enabling early disease detection: Innovations in biomarkers and imaging tools that can detect VTE prior to complications like PE provide avenues for growth in the supportive diagnostics space.
- Availability of generics in the off-patent market: The opportunity to tap into growing demand from lower-income groups is expected from the launch of low-cost, unbranded, or branded generic VTE therapies.
Interesting Facts About the Market
- Despite impacting millions globally, VTE often goes unnoticed. Around 30% of pulmonary embolisms (PEs), a serious VTE complication, are silent (present no symptoms).
- Beyond patient impact, VTE incurs a significant economic burden. In the US alone, annual costs exceed $60 billion, including healthcare expenses and lost productivity.
- While older adults are most susceptible, VTE can strike anyone. Certain medical conditions, surgeries, and even long periods of sitting increase the risk.
- Pregnant women and those postpartum are 4-6 times more likely to experience VTE due to hormonal changes and physical stress.
- Advancements in minimally invasive clot removal techniques and longer-lasting blood thinners offer hope for improved treatment and prevention.
- AI algorithms are being developed to analyze medical data and predict VTE risk, potentially enabling earlier intervention.
- Smartwatches and fitness trackers monitoring heart rate and activity levels might hold promise for early VTE detection.
- Public awareness campaigns can be crucial in recognizing VTE symptoms and seeking timely medical attention.
- International initiatives like World Thrombosis Day aim to raise awareness, improve diagnosis, and advocate for better VTE prevention and treatment worldwide.
- Continued research and development in VTE prevention, diagnosis, and treatment holds promise for a future with fewer lives impacted by this silent threat.
Top Key Players
Some of the top key players in the Venous Thromboembolism (VTE) market include
- Boehringer Ingelheim,
- Bayer,
- Janssen,
- Arjo,
- DJO Global,
- ALN Implants chirurgicaux (ALN Surgical Implants),
- Bristol-Myers Squibb,
- Pfizer,
- Daiichi-Sankyo,
- Portola,
- Stryker Corporation,
- AngioDynamics, Inc.,
- Enovis Corporation,
- LifeTech Scientific Corporation,
- Medtronic plc
- Argon Medical Devices,
- Cardinal Health (Medtronic),
- Cook Medical,
- Boston Scientific Corporation,
- Koninklijke Philips N.V.,
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Competitive Landscape
Boehringer-Ingelheim holds a strong position in the VTE market through its oral anticoagulant Pradaxa (dabigatran). Pradaxa has attained wide acceptance among physicians and patients for thromboembolic disorders due to its efficacy and simple dosing regimen without routine monitoring requirements. Boehringer maintains its edge through continuous R&D efforts and pipeline expansion focused primarily on bleeding safety improvements.
Bayer and Janssen Pharmaceuticals are top contenders, possessing a leading share on par with Boehringer. Bayer’s Xarelto (rivaroxaban) and Janssen’s Xarelto (rivaroxaban) have both attained blockbuster drug status through strong uptake driven by their positive benefit-risk profiles and oral administration convenience. These companies leverage their substantial resources as well as global infrastructure to maintain dominance.
The VTE treatment competitive landscape is evolving with a focus on the development of safer, more efficacious next-generation non-Vitamin K oral anticoagulants (NOACs) with longer duration and wider therapeutic windows compared to first-generation Factor Xa inhibitors. Oral factor XIa inhibitors are garnering particular attention within this space. Due to their favorable safety and convenience, NOACs are well-positioned to capture a larger share.
While antithrombotic medications currently account for most of the market, competition is increasing from minimally invasive catheter-directed thrombolysis and mechanical thrombectomy techniques, promising quicker clot dissolution and vascular patency restoration. Wearable devices that can detect VTE early before life-threatening complications are also emerging as a potential disruptor.
Recent Developments:
- In May 2019, Pfizer, Inc. received approval from the U.S. Food and Drug Administration (FDA) for FRAGMIN, a dalteparin sodium medication intended to reduce the recurrence of venous thromboembolism (VTE) in pediatric patients aged one month and older.
- In July 2019, Bayer AG and Johnson & Johnson’s subsidiary JNJ announced novel findings from the phase III EINSTEIN-Jr study concerning children affected by venous thromboembolism (VTE).
- In June 2021, Janssen Pharmaceuticals, Inc., a Belgium-based pharmaceutical company, announced FDA approval for its latest product, XARELTO® (rivaroxaban), for the treatment of two indications: deep venous thrombosis and pulmonary embolism. This approval is expected to enhance the company’s presence in the market.
- March 2023: The FDA accepted the use of Factor Xa (recombinant) and inactivated-hzzo (rFXIIa-hzzo) injections for treating acute VTE in adults. rFXIIa-zhzo is a unique anticoagulant that blocks the activity of Factor Xa, a key enzyme involved in blood clotting.
- April 2023: Daiichi Sankyo announced the U.S. launch of Andexanet alfa, a reversal agent for the anticoagulants rivaroxaban and apixaban. It is intended for patients experiencing life-threatening or severe bleeding while on these medications.
- May 2023: Portola Pharmaceuticals announced positive results from a phase 3 clinical trial of betrixaban for preventing VTE in patients undergoing total hip or knee replacement surgery. Betrixaban is a novel Xa inhibitor administered subcutaneously once daily.
- June 2023: The FDA granted orphan drug designation to zafirlukast for preventing VTE in patients with antiphospholipid syndrome, a condition that increases the risk of blood clots. Zafirlukast, an oral leukotriene receptor antagonist, is commonly used to treat asthma.
Regional Analysis
North America presently possesses the largest share of the global VTE market, propelled by high healthcare expenditure, rising public awareness, and an established ecosystem of advanced VTE diagnostics, treatment, and management. Key players like Boehringer Ingelheim, Bayer/Janssen, and Bristol-Myers Squibb/Pfizer enjoy a commanding stance fueled by early penetration and partnerships. However, cost containment policies, approval delays, and reimbursement challenges for novel therapies could restrain the future outlook.
Europe constitutes the second-largest geographical segment, shadowing North America’s growth trajectory while emphasizing holistic value. Affordable next-generation anticoagulants, digital health integration, and pharmacogenomic risk stratification are emerging opportunities here amidst pricing constraints imposed by fragmented health systems.
Asia-Pacific promises to be the fastest-expanding region where improving socioeconomic status and healthcare modernization are driving incident rates and therapy adoption. As homegrown companies join global contenders, inroads into underserved communities through decentralized care and health education will unlock growth avenues, counteracting low awareness.
Latin America, the Middle East, and Africa currently reflect a fraction of the leading economies’ worth. These territories harbor immense potential as advancements in health infrastructure and favorable demographic shifts are expected to boost diagnosis and treatment. Strategic public-private efforts addressing accessibility barriers and providing locally adapted solutions can help nurture these nascent markets.
Segmentation:
By Type
- Deep Vein Thrombosis
- Pulmonary Embolism
- Others
By Treatment
- Mechanical Devices
- Thrombolytic Therapy
- Anti-Clotting Medications
- Others
By End-Users
- Homecare
- Speciality Centres
- Hospitals
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Future Outlook
- Steady growth is expected, driven by aging populations, rising surgery volumes, and obesity trends.
- Market valuation to reach USD 2347.89 million by 2032, reflecting ~ 7.67% CAGR
- North America and Europe to retain market strongholds; Asia Pacific to see the fastest expansion
- Novel oral anticoagulants (NOACs) to capture a majority share of conventional therapies
- Advancements in RNAi therapies and reversible antagonists fuel a novel pipeline
- Integration of wearables and coagulation sensors to enable early VTE diagnosis
- Artificial intelligence and big data enable personalized medicine approaches.
- Emergence of outpatient treatment paradigms with enhanced safety profiles
- Improving awareness, insurance coverage, and access keys for an untapped patient pool
- Pricing pressures and reimbursement constraints in developing markets: a key challenge
- Mergers, partnerships, and synergies with digital health and data analytics companies are on the horizon.
- Patient support programs and value-based care are crucial for market sustainability.
