Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market Research, 2031
The global transjugular intrahepatic portosystemic shunt (TIPS) market size was valued at $93.4 million in 2021, and is projected 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 major advancement in the treatment of portal hypertension. It is also used for the treatment of hepatorenal syndrome, and Budd-chirai syndrome. TIPS is a hemodynamic equivalent of a side to side small diameter surgical shunt. The shunt itself is created by placing a stent between portal vein and hepatic vein. TIPS stent is placed via interventional radiology which uses aseptic technique. In this procedure a needle catheter is passed via the right internal jugular vein to the hepatic vein, and then a tract is made to the intrahepatic portion of the portal vein.Transjugular intrahepatic portosystemic shunt is a major advancement in the treatment of portal hypertension. It is also used for the treatment of hepatorenal syndrome, and Budd-chirai syndrome. TIPS is a hemodynamic equivalent of a side to side small diameter surgical shunt. The shunt itself is created by placing a stent between portal vein and hepatic vein. TIPS stent is placed via interventional radiology which uses aseptic technique. In this procedure a needle catheter is passed via the right internal jugular vein to the hepatic vein, and then a tract is made to the intrahepatic portion of the portal vein.
Growth of the global TIPS market is majorly driven by rise in prevalence of liver disease such as portal hypertension, hepatorenal syndrome, Budd-Chirai Syndrome and others, increase in risk of organ failure, and development of new transjugular intrahepatic portosystemic shunt (TIPS) devices by large number of key players. Furthermore, according to the World Obesity Federation, it is estimated that approximately 2.7 billion adults will be overweight, over 1 billion affected by obesity, and 177 thousand adults severely affected by obesity by 2025. Being overweight or obese causes fat to accumulate in the liver. This leads to scarring of the liver also known as cirrhosis. Thus, surge in obesity population leads to large population with liver disease and increase demand for transjugular intrahepatic portosystemic shunt (TIPS) devices, which is anticipated to foster the growth of the market. Furthermore, growing incidence of portal vein thrombosis and other liver diseases among geriatric population, increase in demand for TIPS surgery due to shortage of organ donors are some of the major factors that fuel the transjugular intrahepatic portosystemic shunt (TIPS) market growth.
Also, according to the National Institute on Alcohol Abuse and Alcoholism in 2019, alcohol facts and statistics, it was estimated that approximately 85,688 liver disease deaths among individuals with ages 12 and older. Among males, 53,486 liver disease deaths occurred, and 45.6% involved alcohol. Among females, 32,202 liver disease deaths occurred, and 39.0% involved alcohol. Thus, such high mortality can be avoided by appropriate liver treatment at the right time, and thus is expected to boosts the growth of the TIPS market. Furthermore, increase in number of product approvals is expected to provide remunerative opportunities for the expansion of the global transjugular intrahepatic portosystemic shunt (TIPS) market during the forecast period.
The transjugular intrahepatic portosystemic shunt (tips) market size is classified into End User, Device Type and Application. On the basis of device type, it is divided into stents and accessories. By application, the market is classified into portal hypertension, Budd-chirai Syndrome, and others. By end user, the market is bifurcated into hospitals, specialty clinics, and others.
Region-wise, the transjugular intrahepatic portosystemic shunt (TIPS) market share is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
Depending on device type, the stents segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in the medical device industry, and rise in demand for TIPS devices. However, the accessories segment is expected to witness considerable growth during the forecast period, owing to increase in number of minimally invasive surgeries and rise in number of key players for development of accessories for TIPS in the medical device industry.
By application, the portal hypertension segment was the major contributor in 2021, and is expected to maintain its lead during the forecast period, owing to increase in number of cases of portal hypertension, and increase in demand for transjugular intrahepatic portosystemic shunt (TIPS) in patient who suffer from liver disease. However, the others segment is expected to witness considerable growth during the forecast period, due to increase in number of case of hepatorenal syndrome, and cirrhosis.
By end user, the hospitals segment was the major contributor in 2021, and is expected to maintain its lead during the forecast period, owing to increase in number of hospital admission, and increase in demand for TIPS devices. However, the specialty clinics segment is expected to witness considerable growth during the forecast period due to increase in demand for special treatment, and presence of well-trained medical staff in specialty clinics.
North America garnered the major transjugular intrahepatic portosystemic shunt (TIPS) market share in 2021, and is expected to continue to dominate during the forecast period, owing to rise in number of liver surgeries, presence of key players, development of the healthcare sector, and presence of new innovative TIPS devices in the region. However, Asia-Pacific is expected to register the highest CAGR during transjugular intrahepatic portosystemic shunt (TIPS) market Forecast, owing to increase in use for lifetime support and development of healthcare infrastructure.
The key players that operate in the transjugular intrahepatic portosystemic shunt industry include, Boston Scientific Corporation, Becton Dickinson and Company, Angiodynamics Inc, Cook Medical Inc., Neuromedex GmbH, W.L Gore & Associates Inc. Terumo Medical Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the transjugular intrahepatic portosystemic shunt (TIPS) market analysis from 2021 to 2031 to identify the prevailing transjugular intrahepatic portosystemic shunt (TIPS) market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the transjugular intrahepatic portosystemic shunt (tips) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global transjugular intrahepatic portosystemic shunt (tips) market trends, key players, market segments, application areas, and market growth strategies.
Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 127.9 million |
 Growth Rate | CAGR of 3.2% |
 Forecast period | 2021 - 2031 |
 Report Pages | 206 |
 By End User |
|
 By Device Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Terumo Medical Corporation, Company 10, Company 9, W. L. Gore & Associates, Inc. , BD, AngioDynamics Inc., Cook, Boston Scientific Corporation, Neuromedex GmbH, Company 8 |
Analyst Review
This section provides opinions of top level CXOs in the transjugular intrahepatic portosystemic shunt market. According to CXOs, transjugualr intrahepatic portosystemic shunt represents major usage in treatment of complications of portal hypertension. As per CXOs, the medical device industry is undertaking rapid and exceptional measures to bring more innovative products for patients and has opened new approaches in the medical device industry. For instance, in April 2022, Argon Medical Devices Inc. has launched two portal vein access sets for interventional procedures namely Scorpion portal vein. The Scorpion portal vein access addresses common challenges, when placing transjugular intrahepatic portosystemic shunt. It is designed for treatment of liver disease and to improve physical ability to navigate through liver parenchyma and reduce number of attempts necessary to establish access of portal vein. Thus, rise in number of product launches drive growth of the transjugualr intrahepatic portosystemic shunt (TIPS) market.
CXOs further added that accessories segment holds the largest share in the market, owing to rise in prevalence of diseases such as portal hypertension and Budd-Chiari Syndrome in the market. Moreover, North America is expected to offer lucrative opportunities to the market during the forecast period, owing to rise in geriatric population in the region led to increase in the number of cases of liver diseases. Thus, rise in demand for transjugular intrahepatic portosystemic shunt across the region. However, Asia-Pacific registered the fastest growth rate during the forecast period, owing to developments in healthcare infrastructure, rise in disposable incomes, and emerging domestic companies in the region.
Growing prevalence of liver disease such as portal hypertension, Budd-Chirai Syndrome and others, increase in risk of organ failure, and development of new surgical devices by large number of key players are some of the major driving factors of the market
Among device type, stents segment dominated the Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market in 2021
North America is largest regional market for Transjugular Intrahepatic Portosystemic Shunt (TIPS)
In 2021, the estimated industry size of Transjugular Intrahepatic Portosystemic Shunt (TIPS) was around US$ 93.4 Million
Boston Scientific Corporation, Becton Dickinson and Company, Angiodynamics Inc, Cook Medical Inc., are some of the top companies to hold the market share in Transjugular Intrahepatic Portosystemic Shunt (TIPS)
Loading Table Of Content...
