Venous Thromboembolism Treatment Market Projected To Grow With Significant CAGR

Venous Thromboembolism Treatment Market Projected To Grow With Significant CAGR Over The Forecast Period

Venous thromboembolism is a disease caused by the clotting of blood in the blood vessel which leads to restriction of blood flow within the circulatory system. Venous thromboembolism is classified into pulmonary embolism and deep vein thrombosis (DVT). Deep vein thrombosis is mainly occurred due to the clotting of the blood in the deep vein (commonly in the leg). The formed DVT clot breaks off and flows to the lungs known as pulmonary embolism which is a severe complication of deep vein thrombosis (DVT). Venous thromboembolism commonly occurs in aged persons with more than 60 years. People with overweight, persons with thicker blood and the persons suffering from autoimmune disorders such as (lupus, rheumatoid arthritis etc.) or cancer are at higher risk of venous thromboembolism. Venous thromboembolism can cause chronic complications, such as post-thrombotic syndrome (PTS) or chronic thromboembolic pulmonary hypertension (CTEPH). The symptoms associated with the venous thromboembolism include dilated blood veins in legs and chest, edema, fever, tachycardia, and dyspnea. Lower extremities are the most common site for DVT, but other locations affected include the mesenteric, upper extremities, pelvic veins, and cerebral veins.

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The venous thromboembolism treatment market is growing at a significant CAGR due to increase in geriatric population. A rise in the government expenditure, increase in the incidence of venous thromboembolism are fueling the venous thromboembolism treatment market. Furthermore, increase in surgical procedures such as hip and knee replacements that are risk factors for venous thromboembolism conditions, growing patient awareness venous thromboembolism conditions expected to boost the venous thromboembolism treatment market growth. However, a high cost of deep vein thrombosis treatment, high unmet needs of currently available treatment procedures, and adverse effects associated with drugs hamper the growth of venous thromboembolism treatment market. Similarly, stringent regulatory approvals, the presence of alternatives treatments such as thrombectomy and percutaneous techniques are hindering the growth of venous thromboembolism drugs market.

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The global venous thromboembolism drugs market is categorized into following-

1. Drug type

• Factor Xa inhibitors
• Thrombolytic therapy
• Plasminogen activators
• Fondaparinux
• Dabigatran
• Warfarin

2. Disease type

• Deep vein thrombosis
• Pulmonary embolism

3. End-users

Hospital pharmacies, Online Pharmacies and retail pharmacies.

And lastly on the basis of geographical regions, global venous thromboembolism treatment market has been divided into five major regions- North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. North America holds the largest share in the venous thromboembolism treatment market owing to increase in the incidence (According to U.S. International Society on Thrombosis and Haemostasis, Inc. (ISTH) there are around 100,000 to 300,000 venous thromboembolism related deaths reported annually) and prevalence rate, rise in demand for advanced treatments, an increase in aging population in the North America region. Moreover, a rise in healthcare expenditure, growing awareness regarding the disease and treatments, and increase in prevalence rate in the Europe region drives the venous thromboembolism treatment market. Asia-Pacific is a key region for venous thromboembolism treatment market due to increase in the government expenditure and healthcare infrastructure. However, a high cost of the venous thromboembolism treatment and low awareness regarding venous thromboembolism treatment among key stakeholders are the key factors hindering the venous thromboembolism treatment market growth in Latin America and the Middle East and Africa regions.

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Some of the key players in global venous thromboembolism treatment market are Sanofi (France), Pfizer Inc. (U.S.), Daiichi Sankyo Co. Ltd. (Japan), Bristol Myers Squibb (U.S.), Johnson & Johnson Services, Inc. (U.S.), AbbVie Inc. (U.S.), Merck & Co. (U.S.), Astellas Pharma Inc. (Japan), Sawai Pharmaceuticals Co. Ltd. (U.S.), Abbott Laboratories (U.S.), Wockhardt Ltd (India), Bayer AG (Germany), and Dupont (U.S.) to name a few. In 2017, USFDA granted priority review of Xarelto (Rivaroxaban) NDA for a 10 mg dose to reduce the risk of recurrent venous thromboembolism. And in 2016, Bristol Myers Squibb and Pfizer, Inc. collaborated with Portola Pharmaceuticals Inc. for the development and commercialization of investigational drug Andexanet Alfa in the Japan. While in 2015, Bayer’s Xarelto approved in China for stroke prevention in patients with non-valvular atrial fibrillation and for the treatment of deep vein thrombosis.

The growth of global venous thromboembolism treatment market is due to rise in prevalence of venous thromboembolism (According to the International Society of Thrombosis and Hemostasis, Inc. (ISTH), approximately 10million cases of venous thromboembolism occur annually). The most commonly adopted strategies by industry players include new product launches with technological innovations, new product approvals, acquisitions & mergers, agreements, and collaborations to capture significant venous thromboembolism treatment market share. For example in 2017, The Apex trial reported that extended use of Betrixaban beyond the parenteral prophylaxis with Enoxaparin reduces the venous thromboembolism incidence among the patients. Similarly, in 2011, Eliquis (Apixaban) was approved in Europe for preventing venous thromboembolism after elective knee or hip replacement. Also, in 2015, Bayer forms the collaboration with academic and governmental institutions for Rivaroxaban study in patients with a recent embolic stroke of undetermined source.

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