Deep vein thrombosis (DVT) is a serious and potentially life-threatening condition caused by the formation of blood clots in the veins. Some of the most common causes of DVT are immobility, surgery and pregnancy. Fortunately, DVT pumps have emerged as an effective treatment option for preventing DVT.
DVT pumps are compression therapy devices that are designed to stimulate circulation and reduce the risk of DVT. These pumps work by applying external pressure to the legs and stimulating the lymphatic and the venous systems, thus increasing blood flow and preventing clot formation.
Market players and trends
The global DVT pumps market is anticipated to register substantial growth in the coming years, driven by the increasing incidence of DVT and the growing awareness among patients about the importance of DVT prevention. The market is highly fragmented, with a large number of players from different regions competing against each other. Some of the leading players in the global DVT pumps market include ArjoHuntleigh, Zimmer Biomet, Breg, DJO, Devon Medical Products, and others.
These key market players are adopting various strategies to enhance their market presence and expand their customer base. Some of the common strategies adopted by these players include product development and innovation, collaborations and partnerships, mergers and acquisitions, and geographical expansion.
Product development and innovation
Product innovation has emerged as a key strategy for the growth of the DVT pumps market. Key players are investing heavily in research and development activities to develop new and improved products with advanced technologies, added features, and better functionality. For instance, Devon Medical Products has developed the CircuFlow 5200 - a portable, under-the-pants DVT prevention device that is designed to provide continuous and sequential compression therapy to the lower limbs.
Collaborations and partnerships
Collaborations and partnerships are also instrumental in the growth of the DVT pumps market, as these strategic partnerships help players to expand their product portfolio and market reach. For example, in 2020 ArjoHuntleigh and Wellspect HealthCare joined hands to provide a comprehensive product portfolio for wound care and DVT prevention.
Mergers and acquisitions
Another key strategy adopted by the market players is mergers and acquisitions. Mergers and acquisitions provide an excellent opportunity for companies to pool their resources, skills, and expertise to enhance their market position and leverage the benefits of economies of scale. For instance, in 2019, Zimmer Biomet acquired the Compression Therapy portfolio of DRW Medical GmbH, a Germany-based medical devices company. This acquisition helped Zimmer to expand its product portfolio and strengthen its market position in DVT prevention devices.
Geographical expansion
Geographical expansion is also an essential strategy adopted by the key market players to increase their market presence and customer base in different regions. The global DVT pumps market has witnessed a significant shift towards emerging markets such as Asia Pacific and Latin America, which present a substantial growth opportunity for the market players. For instance, Devon Medical Products has recently expanded its operations in Latin America and Asia Pacific to tap into the growing demand for DVT prevention devices in these regions.
Keywords:
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