Deep Vein Thrombosis Market is driven by increasing geriatric population and developing countries around the world are currently undergoing a paradigm shift and are investing a large amount of government funds in the research and development
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Lifestyle changes along with changes in eating habits lead to obesity, which causes accumulation of excessive fat and cholesterol, resulting in increase in body weight. Obesity is a problem around the world that affects a large number of people.
Rising incidences of obesity are increasing the risk of developing deep vein thrombosis (DVT). Deep vein thrombosis (DVT) refers to the formation of a blood clot, also known as a thrombus, in one of the body’s large veins, most commonly in the lower limbs.
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Deep vein thrombosis can also occur in patients who have undergone a surgery, broken limbs, history of heart attack, and cancer.
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Changing lifestyle habits in the developed as well as developing countries, rising obese population, and growing health care expenditure are some of the factors fuelling the global deep vein thrombosis market during the forecast period. It has been observed that DVT is more prevalent among the population above the age of 65 years.
The increasing geriatric population is projected to be a primary reason for the growth of the global market in the near future. The developing countries around the world are currently undergoing a paradigm shift and are investing a large amount of government funds in the research and development, which is likely to drive the market growth.
However, complex pathophysiology of the disease, high cost of treatment, and side effects associated with it act as key restraints for the deep vein thrombosis market growth.
Global deep vein thrombosis market is segmented on the basis of treatment, distribution channel, and geography. In terms of treatment, the market is segmented into blood thinners, clot busters, inferior vena cava filters, and compression stockings.
The blood thinners segment is anticipated to hold a major share of the market during the forecast period owing to rise in the use of heparin, the oldest and widely used anticoagulant drug, and the development of novel oral anticoagulants (NOACs) to overcome the limitation of current treatment options and provide improved patient of care.
On the basis of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and e-commerce. The retail pharmacy is anticipated to hold a significant market share while the e-commerce segment is expected to grow at a high CAGR during the forecast period.
Rising digitalization, increased per capita income, and growing awareness about the online pharmacy sector in the developed as well as developing regions are factors which are projected to contribute to the market growth of the e-commerce segment in the near future.
In terms of geography, the deep vein thrombosis market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the deep vein thrombosis market due to a high incidence and prevalence rate of the condition, increase in the demand for advance treatment, and rise in geriatric population.
It is followed by Europe. Asia Pacific is an emerging market for deep vein thrombosis due to the developing health care infrastructure and rising government expenditure in the health care industry. Increasing geriatric population base, rising prevalence of chronic diseases, and rapid growth in foreign investments are expected to propel the growth of the market in developing nations of the Middle East and Asia Pacific.
However, affordability issues, lack of proper treatment, and poor patient education are restraining the growth of the market in Middle East & Africa and Latin America.
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Major players operating in the deep vein thrombosis market include Bristol-Myers Squibb Company, Sanofi-Aventis, Pfizer, Inc., Daiichi Sankyo Co. Ltd., Johnson & Johnson, Abbott Laboratories, Merck & Co., and Astellas Pharma Inc.
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