Vascular Traps Market Valuation to Reach US$54.4 Million by 2031; Medtech companies are coming up with new designs for next-gen devices, TMR study notes

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– Non-invasive vascular collars improve patient outcomes after endovascular procedures; collaborations with researchers to stimulate product innovations

– The North American Vascular Traps Market will experience considerable revenue growth during the forecast period; medical device companies offering next-generation vascular traps to meet the needs of the elderly

ALBANY, NY, February 8, 2022 /PRNewswire/ — New designs of snare systems and techniques have increased their effectiveness in foreign body retrieval, and are therefore increasingly being adopted in the treatment of thrombosis and venous thromboembolism. The commercialization of new devices, supported by increasing approval of new technologies in developed regions, has boosted the success rates of peripheral procedures. The Global vascular neck market is expected to grow at a CAGR of 5.8% in 2021-2031.

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Minimally invasive and non-invasive single-loop, triple-loop, and four-loop snares are gaining popularity over inferior vena cava (IVC) filters. Next-generation vascular snares enhance surgeons’ surgical skills to retrieve intravascular foreign bodies, including guidewires, IVC filters, and catheters.

Manufacturers in the vascular trap market want to launch state-of-the-art devices frequently, analysts observe. An in-depth study by TMR notes that the revenue opportunities are vast in the single-loop snare drum segment. It held a major share of the global vascular traps market, and the valuation of the segment is expected to grow at a CAGR of 6.1% during the forecast period from 2021 to 2031.

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Key Findings from the Vascular Traps Market Research

  • Increased number of endovascular procedures driving sales: The increase in endovascular interventions has also increased the risk of venous thromboembolism (VTE), thereby boosting the revenue prospects of the Vascular Traps market. The increasing number of surgeries and procedures for deep vein thrombosis has led to a surge in demand for vascular traps. The sales in the vascular neck market have increasingly gained momentum due to the increasing mortality from heart disease and stroke.

  • Medical technology companies offering new designs to improve patient outcomes: Medical technology companies want to invest in R&D to develop new versions of products in the vascular collar market. They are innovating in the design of vascular traps with the aim of reducing the rate of complications in the patient population. Additionally, medical device companies are evaluating new materials to support new trapping techniques. The demand for technologically advanced devices for percutaneous retrieval of lost or misplaced intravascular objects further expands revenue opportunities.

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Vascular Traps Market: Key Drivers

  • The increasing incidence and prevalence of peripheral vascular disease has led to high cardiovascular disease (CVD) mortality, especially in low- and middle-income countries. This is a key driver for lucrative avenues in the Vascular Traps market.

  • These procedures were significantly reduced in the months following the outbreak of the COVID-19 pandemic. The increase in elective procedures has increased the import and export of loop devices, thereby increasing the revenue potential.

Vascular Trap Market: Regional Growth Dynamics

North America is a very lucrative market for vascular traps. The region held a significant share of the global market – amounting to 40.54% – in 2020. The presence of several leading US-based medical device manufacturers and Canada is a key factor behind the huge earning potential. The pressing need to reduce the prevalence of pulmonary embolism and venous thromboembolism (VTE) has accelerated the revenue prospects of the North America vascular neck market.

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Vascular Trap Market: Key Players

Some of the major players in the vascular traps market are Teleflex Incorporated, pfm medical Ag, Merit Medical Systems, Inc., Medtronic, Cook Medical LLC, CR Bard, Inc., B. Braun Melsungen AG, and Argon Medical Devices.

The Vascular Traps market study offers a detailed review of key financials, their growth strategies, and major product profile.

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Global Vascular Traps Market: Segmentation

Vascular Traps Market, By Type

  • Single loop snare drum

  • Triple loop snare drum

  • Four loop snare drum

  • Others

Vascular Trap Market, By Length

  • 55cm to 93cm

  • 100cm to 150cm

  • 175cm to 200cm

Vascular Traps Market, By Application

Vascular Trap Market, By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

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