Clot Management Devices Market Expected to Reach $4.3 Billion by 2035

According to a new report published by Allied Market Research, titled, “Clot Management Devices Market," The clot management devices market size was valued at $2.1 billion in 2023, and is estimated to reach $4.3 billion by 2035, growing at a CAGR of 6.2% from 2024 to 2035.

Clot management devices are medical tools designed to assist in the prevention, diagnosis, and treatment of thromboembolic conditions, which are disorders related to the formation of blood clots. These devices play a crucial role in various medical settings, particularly in vascular and interventional procedures. They include a range of technologies such as thrombectomy devices, which are used to remove clots from blood vessels, and aspiration systems that help to clear blockages.

The clot management devices market trends include rise in geriatric population, increased awareness of cardiovascular diseases & diagnosis of cardiovascular diseases, and rise in trend toward minimally invasive procedures. Rise in geriatric population boosts the expansion of the clot management devices market, largely due to the increased incidence of clot-related conditions in older adults.

As individuals age, the risk of developing cardiovascular diseases, such as deep vein thrombosis (DVT) and pulmonary embolism (PE), escalates. These conditions necessitate effective management and treatment, often involving advanced clot management devices, which drive the growth of clot management devices market size. According to a 2023 article by the United Nations, the number of people aged 65 years or older worldwide is projected to more than double, rising from 761 million in 2021 to 1.6 billion in 2050. This demographic shift highlights the urgent need for innovative healthcare solutions to address the surge in prevalence of thromboembolic disorders which further drive the growth during clot management devices market forecast.

Increased awareness and diagnosis of clot-related conditions foster the clot management devices market growth. As public education campaigns and healthcare initiatives emphasize the risks and symptoms of conditions such as deep vein thrombosis (DVT) and pulmonary embolism (PE), individuals are more likely to seek medical attention, leading to earlier diagnosis and treatment. For instance, the month of March is recognized as Blood Clot Awareness Month, a time dedicated to educating the public about the dangers of blood clots and promoting preventive measures.

This heightened awareness contributes to more frequent screenings and diagnostic procedures, allowing healthcare providers to identify at-risk patients more effectively. Consequently, the demand for advanced clot management devices has surged, as timely intervention is crucial in managing and treating thromboembolic disorders which further drive the clot management devices market growth.

The clot management devices industry is segmented on the basis of product, end user, and region. By product, the market is classified into neurovascular embolectomy devices, embolectomy balloon catheters, percutaneous thrombectomy devices, catheter-directed thrombolysis (CDT) devices, and inferior vena cava filters (IVCF). By end user, it is segregated into hospitals and other end user. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product, the percutaneous thrombectomy devices segment was the major revenue contributor in 2023. This is attributed to minimally invasive nature and efficiency in quickly removing clots. Percutaneous thrombectomy devices are designed to physically break down and remove thrombi (blood clots) from blood vessels, offering a less invasive alternative to traditional surgical methods, which can reduce recovery times and lower the risk of complications.

However, the neurovascular embolectomy devices segment is expected to register the highest CAGR during the forecast period owing to rise in incidence of neurovascular conditions like stroke.

On the basis of end user, the hospital segment dominated the clot management devices market share in 2023. This is attributed to the fact that hospitals are primary healthcare facilities that handle a large number of patients with various conditions, including cardiovascular diseases, stroke, and deep vein thrombosis (DVT), which require clot management interventions. Furthermore, hospitals are equipped with the latest medical technology, allowing them to perform complex procedures such as thrombectomies, catheter-directed thrombolysis, and other minimally invasive treatments. This advanced infrastructure supports a higher adoption of clot management devices.

However, the other end user segment is expected to register the highest CAGR during the forecast period owing to the fact that ambulatory surgical centers and specialty clinics often provide more affordable options for patients seeking treatment for clot-related conditions compared to hospitals. This affordability makes them attractive for elective and non-emergency procedures.

By region, North America dominated the clot management devices market share owing to high healthcare expenditure, and strong presence of major key players. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period owing to developing healthcare infrastructure and rise in prevalence of cardiovascular diseases. According to 2024 article by Indian Institute of Public Health, India faces a growing epidemic of risk factors for cardiovascular diseases including heart attacks, strokes, diabetes, obesity, high blood pressure and cholesterol levels. In India, cardiovascular diseases contribute to 45% of all deaths caused due to non-communicable diseases. 

Key findings of the study 

• By product, the percutaneous thrombectomy devices segment was the highest contributor to the clot management devices industry in 2023. However, the neurovascular embolectomy devices segment is expected to register the highest CAGR during the clot management devices market analysis.
• By end user, the hospitals segment dominated the market in 2023. However, the other end user segment is expected to register the highest CAGR during the forecast period.
• By region, North America was the highest contributor to the market in 2023. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.