Occlusion Devices Market: Rising Healthcare Expenditure Across Developing Countries
Summary
- The Occlusion Devices Market is projected to reach USD 3.55 Billion by 2023 from USD 2.74 Billion in 2018, at a CAGR of 5.3%.
The report studies the global occlusion devices market over the forecast period of 2018 to 2023. The market is projected to reach USD 3.55 Billion by 2023 from USD 2.74 Billion in 2018, at a CAGR of 5.3%.
Factors such as the growth in target patient population, technological advancements, favorable reimbursement scenario for minimally invasive surgeries, and the availability of clinical evidence for the safety and efficacy of occlusion procedures are driving the growth of the occlusion devices market.
Based on product, the occlusion removal devices segment is estimated to have the largest share of the market in 2018.
On the basis of product, the embolization devices market is segmented into 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).
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Based on application, the neurology segment is expected to account for the largest share of this market in 2018.
On the basis of application, the occlusion removal devices market is categorized into neurology, cardiology, peripheral vascular diseases, urology, oncology, and gynecology. Neurology applications are expected to account for the largest share of the embolization devices market in 2018.
North America is expected to dominate the occlusion removal devices market in 2018.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The large share of North America in the global occlusion devices market is attributed to the increasing availability of medical reimbursements for cardiovascular procedures, increasing patient preference for minimally invasive surgical procedures, and strong market presence of key OEMs (that replicates into the easy availability of occlusion devices).
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Leading Companies
Boston Scientific (US), Medtronic (Ireland), Terumo (Japan), Stryker Corporation (US), and Penumbra (US). Other prominent players present in this market are Abbott (US), Cardinal Health (US), B. Braun (Germany), Asahi Intecc (Japan), C.R. Bard (US), Cook Group (US), Angiodynamics (US), and Acrostak (US).
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