DVT pumps are pneumatic compression pumps that are used to prevent people from getting deep vein thrombosis (DVT), which can be life-threatening. DVT pumps deliver pressure to the upper or lower extremities to increase blood flow in these areas to prevent blood clots. People especially susceptible to thrombosis have recently undergone surgery and are immobile or sedentary. Prolonged inactive states cause blood to pool around veins slowing circulation, thus leading to blot clotting.
DVT is a condition that occurs when a blood clot (thrombus) is formed in one or more veins, especially in the lower extremities. It can cause pain and swelling, and in some cases, it leads to pulmonary embolism, a life-threatening condition. Cardiovascular and stroke patients are more prone to DVT as the condition affects the overall blood flow of the body. According to the Centers for Disease Control and Prevention (CDC), approximately 900,000 people are expected to be affected by DVT annually in the US, and ~60,000-100,000 deaths are registered in the country every year. Moreover, the geriatric population is susceptible to DVT as they have restricted movements along with other chronic conditions, such as diabetes and orthopedic disorders, which contribute to the prevalence of DVT. According to the National Library of Medicine, the risk of venous thromboembolism (VTE) is higher in the population aged 65 years and above. Additionally, coexisting comorbidities exhibit a high mortality rate among the geriatric population. Thus, the rising prevalence of DVT across the globe is driving the growth of the DVT preventive pump market
Several economies such as the US, the UK, Canada, Japan, China, India, and South Korea are witnessing considerable modernization of healthcare facilities and improvements in healthcare services. As a result, the life expectancy of people has increased in these countries, leading to a growth in their geriatric population base. According to the data by the WHO in October 2022, the global geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. Further, the US Census Bureau report states that the number of people aged 65 and above is anticipated to grow from 46 million in 2016 to over ~98 million by 2060 in the US, registering an increase from ~15% to ~24% during this period. Similarly, according to a report published by the United Nations World Population Ageing, Europe had the world's highest percentage (i.e., 25%) of people aged more than 60 years in 2017. Further, all regions of the world, except Africa, are anticipated to account for over ~25% of the population to be aged 60 and above by 2050. As per the same report, underdeveloped and developing countries are expected to account for ~80% of this population growth.
Thus, the rising prevalence of DVT and the surge in the geriatric population has increased the incidence of DVT across the world, which is driving the growth of the DVT preventive pumps market.
Based on type, the DVT preventive pump market is bifurcated into lower extremity and upper extremity. The lower extremity segment held a larger market share of US$ 279.12 million in 2021; further, it is anticipated to register the highest CAGR of 4.8% during the forecast period.
Based on the end user, the DVT preventive pump market is segmented into hospitals and clinics, surgical centers, and others. The hospitals and clinics segment accounted for the largest share of the market in 2021, and it is expected to register the highest CAGR of 5.0% during the forecast period.
Inorganic strategies such as mergers and acquisitions are highly adopted by companies in the DVT preventive pump market. The recent key market developments are listed below:
The regional trends and factors influencing the DVT Preventive Pump Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses DVT Preventive Pump Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 383.86 Million |
| Market Size by 2028 | US$ 519.81 Million |
| Global CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The DVT Preventive Pump Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the DVT Preventive Pump Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The lower extremity segment held the largest share of the market in 2021. Also, the same segment is estimated to register the highest CAGR of 4.8% in the market during the forecast period.
The Asia Pacific is expected to be the fastest-growing region in the DVT preventive pump market over the forecast period due to the increasing prevalence of DVT cases and increasing product launches in the region.
The DVT preventive pump market is estimated to be valued at US$ 383.86 million in 2021.
The DVT preventive pump market is expected to be valued at US$ 519.81 million in 2028.
The CAGR value of the DVT preventive pump market during the forecasted period of 2022-2028 is 4.4%.
The DVT preventive pump market majorly consists of the players, such as Devon Medical Products Inc; Breg Inc; Bio Compression Systems Inc; Cardinal Health Inc; Arjo AB; Mego Afek Ltd, DJO LLC; Currie Medical Specialities Inc; Zimmer Biomet Holdings Inc; Medcaptain Medical Technology Co Ltd; ThermoTek Inc.
The factors that are driving the growth of the DVT preventive pump market are the increasing prevalence of DVT cases and increasing product launches in the region. In addition, the rising number of hospital and clinic visits by patients that increases the consumption of DVT pumps are the factors expected to boost the DVT preventive pump market growth in the region.
DVT pumps are pneumatic compression pumps that are used to prevent people from getting deep vein thrombosis (DVT), which can be a life-threatening condition. DVT pumps deliver pressure to the upper or lower extremities to increase blood flow in these areas in order to prevent blood clots. People especially susceptible to thrombosis are those who have recently undergone surgery and are immobile or sedentary throughout the day. Prolonged inactive states cause blood to pool around veins slowing circulation and leading to blot clotting.