Venous thromboembolism (VTE) is the formation of blood clots in the bloodstream. Two main types of venous thromboembolism are pulmonary embolism and deep vein thrombosis. The formation of blood clots in a deep vein is called deep vein thrombosis, while the deep vein thrombosis formed breaks the clot and travels to the lungs, known as pulmonary embolism. Pulmonary embolism occurs in almost one-third of patients suffering from deep vein thrombosis. VTE can occur at any age, however, it is common in adults aged 60 and above. Moreover, people whose blood is thicker than normal, older, overweight, or suffer from some other diseases such as cancer or autoimmune disorders are at a higher risk of VTE.
VTE affects both men and women equally. Around 60% of VTE cases occur during or after hospitalization. VTE is the third most common cardiovascular disease after coronary artery disease and stroke, and the leading cause of death and disability worldwide. It requires immediate medical treatment that primarily focuses on breaking or preventing the formation of blood clots. Treatment includes blood-thinning agents such as thrombolytic therapy, mechanical devices, and anticoagulants. Increasing prevalence of venous thromboembolism worldwide is expected to drive the venous thromboembolism market growth. According to the International Society on Thrombosis and Hemostasis, Inc., around 10 million cases of VTE occur annually.
Moreover, increasing research and development activities and increasing product approvals from regulatory bodies, such as the Food and Drugs Administration (FDA), are expected to propel the growth of the venous thromboembolism market. For instance, in 2019, Pfizer, received FDA approval for FRAGMIN, for the treatment of VTE in pediatric patients, aged 1 month and above. Moreover, Bayer and JNJ announced new results from the phase III study in children with VTE. However, rising consumer interest towards drug-based VTE treatment is expected to hamper the market growth.
In terms of geography, the venous thromboembolism market is divided into six regions, such as North America, Europe, Asia Pacific, South America, Middle East, and Africa. According to the International Society on Thrombosis and Hemostasis, Inc., every year, around 100,000 to 300,000 VTE-related deaths occur in the U.S. However, the number is much higher in Europe, with around 544,000 deaths every year. This preventable health condition is usually overlooked as a major public health problem leading to deaths. Increasing demand for cost-effective treatment and the well-established healthcare infrastructure in North America and the Asia Pacific is also expected to foster the venous thromboembolism market growth.
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