Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market Expected to Reach $127.9 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market," The transjugular intrahepatic portosystemic shunt (TIPS) market size was valued at $93.4 million in 2021, and is estimated to reach $127.9 million by 2031, growing at a CAGR of 3.2% from 2022 to 2031.

Transjugular intrahepatic portosystemic shunt (TIPS) is a shunt (tube) placed between the portal vein, which carries blood from intestines/spleen to the liver and the hepatic vein, which carries blood from liver to vena cava and heart. TIPS are performed primarily in patients with cirrhosis in which the scar tissue in the liver causes partial blockage of flow of blood from portal vein through liver to hepatic vein. The blockage in liver increases pressure in the portal vein, which is called portal hypertension. As a result of the increase in pressure, portal blood flow bypasses the liver and is diverted to smaller veins that flow around the abdominal wall, stomach, and esophagus. Portal hypertension can also cause fluid to leak out of the liver into the abdomen or right chest around the lung. TIPS procedure is performed through small incision in right side of the neck through internal Jugular vein, and the largest vein in the neck. Under x-ray guidance, a stent (metal tube/shunt) is placed from the hepatic vein to the portal vein.

Surge in technological advances in transjugular intrahepatic portosystemic shunt devices propels growth of the market. In addition, the medical device sector has opened new approaches and collaborations in the industry to respond to urgent needs of health problems. According to the American Association for study of Liver Diseases in 2022, its mission is to advance the science and practice of hepatology, and promoting liver health and optimal care of patients with liver diseases. Thus, rise in initiatives taken by private healthcare organizations for prevention of liver diseases significantly drives growth of the market. According to the National Center for Disease Control and Prevention in 2020, it was estimated that mortality rate of Cirrhosis in Mexico was 33.4% and 753 deaths. Moreover, thrombosis is the major cause of hepatic vein obstruction. Thus, rise in number of cases of cirrhosis lead to increase in demand for transjugular intrahepatic portosystemic shunt (TIPS) escalating growth of the market.

Increase in government support for management of liver diseases and surge in demand for effective prevention treatment are the major factors that drive growth of the global transjugular intrahepatic portosystemic shunt (TIPS) market. In addition, key players, such as Boston Scientific Corporation, Cook Medical, and Angiodynamics contribute toward the growth of transjugular intrahepatic portosystemic shunt industry. Furthermore, rise in number of product approvals is expected to provide remunerative opportunities for expansion of the global market during the forecast period. Sedentary lifestyle makes people susceptible to having many disorders such as portal vein thrombosis, and cirrhosis. This disease is associated with high hospitalization rate and substantial cost due to frequent use of this devices. Thus, increase in number of surgeries, owing to rise in cases of chronic liver diseases is expected to increase adoption of transjugular intrahepatic portosystemic shunt (TIPS) products and increase growth of the market.

However, high costs of transjugular intrahepatic portosystemic shunt (TIPS) procedure, limited availability of funds, and dearth of skilled professionals are the factors projected to impede the market growth. Presently, there is an increase in awareness regarding health among people, which, in turn, compels them to maintain their health condition and leads to rise in use of transjugular intrahepatic portsystemic shunt by health professionals in surgical centers. This has encouraged many key players to enter emerging markets, thus offering lucrative growth opportunities in the TIPS market.

Moreover, increase in number of medical devices manufacturing plants surge demand for use of transjugular intrahepatic portosystemic shunt devices, creating an opportunity for manufacturers to tap and capitalize on the market. The transjugular intrahepatic portosystemic shunt (TIPS) market size is studied by device type, which is divided into stents and accessories and by application, which is fragmented into portal hypertension, Budd-Chiari Syndrome, and others. By end user, it is categorized into hospitals, specialty clinics, and others. By region, the transjugular intrahepatic portosystemic shunt industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By device type, the stents segment dominated the global market in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in R&D activities in the medical device industry, rise in clinical efficiency of TIPS in treatment of portal vein thrombosis, and hepatopulmonary syndrome. By application, the portal hypertension segment dominated the global market in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in number of cases of portal hypertension. By end user, it is categorized into hospitals, specialty centers, and others. The hospitals segment acquired the largest share in 2021, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of liver disease patients and surge in number of hospital admissions.

By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. By region, North America accounted for the largest transjugular intrahepatic portosystemic shunt (TIPS) market share in 2021, and is expected to remain dominant throughout the forecast period. This was attributed to presence of giant medical device companies in countries such as the U.S. In addition, increase in frequency of major medical device companies and their R&D activities drive demand for transjugular intrahepatic portosystemic shunt in the region during the forecast period.

KEY FINDINGS OF THE STUDY

• The study provides an in-depth transjugular intrahepatic portosystemic shunt (TIPS) market analysis, and the future estimations to elucidate imminent investment pockets & current transjugular intrahepatic portosystemic shunt (TIPS) market trends.
• By device type, the stents segment held largest market share in 2021, and is expected to remain dominant throughout the transjugular intrahepatic portosystemic shunt (TIPS) market forecast.
• By application, the portal hypertension segment held largest market share in 2021, and is expected to remain dominant throughout the forecast period
• By end user, the hospitals segment dominates the global market in 2021, and is anticipated to continue this trend during the forecast period.
• By region, Asia-Pacific is expected to experience growth at the highest rate during the forecast period.