Transjugular Intrahepatic Portosystemic Shunt (TIPS) Market

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.

The COVID-19 outbreak had a negative impact on the growth of the global transjugular intrahepatic portosystemic shunt (TIPS) market. Government of many countries imposed lockdown restrictions which resulted in cancellation or postponement of elective surgical procedures; subsequently resulting in lower adoption of surgical devices for TIPS surgery.

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