Occlusion Devices Market by Product (Occlusion Removal Devices, Embolization Devices, and Support Devices,), by End-User (Hospitals and Clinics, Surgical Centers, Diagnostic Centers, Ambulatory Care Centers, and Others), and by Application (Neurology, Gynecology, Cardiology, Urology, Peripheral Vascular Diseases, Oncology, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global occlusion devices market expected to generate around USD 3,372 million by 2025, at a CAGR of around 5.27% between 2019 and 2025. Occlusion devices are commonly used in cardiology for correcting the conditions caused by blood flow blockages in coronary arteries.

12-Jul-2019 | Number of pages: 110 | Report Code: ZMR-2850 | Report Format : | Status : Published

Analysis

Occlusion devices are commonly used in cardiology for correcting the conditions caused by blood flow blockages in coronary arteries. In terms of medical expression, occlusion means a closed blood vessel or hollow organ. Therefore, to treat heart blockages, cardiovascular defects, and neurological defects, a wide range of dissimilar occlusion devices are used. Cardiac occlusion devices help to reduce the risk of open-heart surgeries. Thus, these medical devices have emerged as a more effective choice than anti-coagulation therapy in treating strokes caused by atrial fibrillation. The demand for occlusion devices is increasing due to their effectiveness, safety, and cost-effectiveness. Additionally, more patients are using occlusion devices to reduce the risk of embolic strokes as compared to anticoagulant therapy. Occlusion devices form a vital element of the interventional strategy for the closure of the left atrial appendage.

The global occlusion devices market is growing at a rapid pace in the global healthcare market due to the increasing prevalence of heart-related issues, such as cardiology and peripheral vascular disease, growing target patient population, and a huge demand for diagnostic treatment and procedures. Additionally, favorable compensation policies, increasing availability of medical reimbursements for occlusion devices, and accessibility of clinical support for efficiency and safety of occlusion methods are some other factors driving the global occlusion devices market. Moreover, the growing accessibility of diagnostic services for different chronic diseases, continuous product launches by key manufacturers, rising adoption of minimally-invasive surgical procedures, and technological advancements are also important aspects contributing to the occlusion devices market across the globe. However, procedural limitations related to CTO treatments, a strict regulatory framework for product commercialization, and lack of skilled surgeons may limit the global occlusion devices market. Alternatively, increasing government initiative for developing healthcare infrastructure in emerging markets is likely to provide ample growth opportunities for the occlusion devices market.

The global occlusion devices market is fragmented on the basis of product, end user, and application. The product segment includes embolization devices, support devices, and occlusion removal devices. Occlusion removal devices are further divided into balloon occlusion devices, suction and aspiration devices, stent retrievers, and coil retrievers. Embolization devices are sub-categorized into liquid embolic agents and tubal occlusion devices. Furthermore, support devices are bifurcated into microcatheters and guidewires. Based on end-user, the market is categorized into hospitals and clinics, surgical centers, diagnostic centers, ambulatory care centers, and others. By application, the market includes neurology, gynecology, cardiology, urology, peripheral vascular disease, oncology, and others. The neurology segment is dominating the market with the largest revenue share.

North America dominates the global occlusion devices market with the largest revenue share, due to the growing regional healthcare investments, increasing patient population suffering from chronic diseases, and the easy availability of occlusion devices across this region. Europe held the second largest market share for occlusion devices globally in 2018, due to the increasing healthcare expenditure and the growing emphasis on the early diagnosis of chronic diseases. The Asia Pacific occlusion devices market is likely to be the fastest growing region and register the highest CAGR over the forecast time period. This regional growth can be attributed to the rising focus on early diagnosis and treatment of heart diseases, changing lifestyle patterns, and increasing environmental pollution.

Some key players operating in the global occlusion devices market are Abbott Laboratories, AngioDynamics, Cardinal Health, Avinger, Asahi Intecc, Edwards Lifesciences, Stryker Corporation, Penumbra, Cook Group, B. Braun Melsungen, Medtronic, Terumo Corporation, Terumo Corporation, Meril Life Sciences, Biosensors International, MicroPort Scientific, Elixir Medical, Kyoto Medical Planning, and Boston Scientific.


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