Global Occlusion devices Market

  March 25, 2020    |      Life Sciences    |       861


New York City, NY, 25 March 2020/24 Market Rports: It is estimated for the occlusion market to reach USD 3.55 Billion by 2023 from USD 2.74 Billion in 2018, at a CAGR of 5.3%. The growing target patient population, continuous product launches by major manufacturers, increasing availability of medical reimbursements for occlusion devices across developed countries, and rising adoption of minimally invasive surgical procedures across major countries is driving the growth of the market.

The occlusion removal devices segment is expected to account for the largest share of the market

Product, application, end-user and region are the segmentation for the market during the forecast period. Occlusion removal devices (balloon occlusion devices, stent retrievers, coil retrievers, and suction and aspiration devices), embolization devices (embolic coils and liquid embolic agents), tubal occlusion devices, and support catheters (microcatheters and guidewires) are the segmentation based on product. The occlusion removal devices segment is expected to account for the largest share of the market.

Neurology applications segment is estimated to lead the market during the forecast period

Neurology, cardiology, peripheral vascular diseases, urology, oncology, and gynaecology is the segmentation based on application. Neurology applications segment accounted for the largest share of the market in 2017and is estimated to lead the market during the forecast period. The increasing number of targeting neurosurgical procedures across major countries, growing research in the field of interventional neurology, strengthening research capabilities of major product manufacturers, and favourable reimbursement scenario for neurovascular surgeries across developed countries are the key factors supporting the growth of the occlusion devices market for neurology applications.

Based on end-user, the market is segmented into three categories, namely, hospitals, diagnostic centres, and surgical centres; ambulatory care centres; and research laboratories & academic institutes. In 2018, the hospitals, diagnostic centres, and surgical centres segment are expected to account for the largest share of the market due to the growing adoption of minimally invasive surgical procedures, increasing purchasing power of major end-users across developed countries, and the availability of reimbursements for target procedures in the US and major European countries.

North America to lead the market during the forecast period

North America, Europe, Asia Pacific, and RoW are the segmentation based on geography. North America to lead the market during the forecast period. The increasing availability of medical reimbursements for cardiovascular procedures, increasing patient preference for minimally invasive surgical procedures (including occlusion treatment), and strong market presence of key OEMs (that replicates into the easy availability of occlusion devices) is driving the growth of the market in the region during the forecast period.

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report title

Global Occlusion devices Market Report 2019 - Market Size, Share, Price, Trend and Forecast