The global occlusion devices market size is expected to reach USD 4.62 Billion in 2028 and register a CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data.
The global occlusion devices market size is expected to reach USD 4.62 Billion in 2028 and register a CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Usage of occlusion devices to prevent blood clots effectively is set to drive market revenue growth. If blood clots are not prevented on time, these may lead to stroke. Also, occlusion devices are extensively used in various applications such as cardiology neurology, oncology and others.
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Rising demand for occlusion devices from hospitals, diagnostic centers & surgical centers, and ambulatory care centers will enhance market growth during the forecast period. These devices are helpful in maintaining the proper function of a patient’s body after he/she has suffered from peripheral vascular diseases or other severe disorders.
Rising number of surgeries associated with cardiological and neurological disorders has increased demand for occlusion devices, which, in turn, would help the market to grow at a fast pace. Occlusion devices are nowadays being used in the field of oncology. Embolization helps to prevent blood flow to a tumor and minimizes blood loss at the time of surgeries.
Some Key Highlights From the Report:
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- By application, neurology segment accounted for the largest revenue share in 2020. Increasing geriatric population and rising cases of sports injuries & accidents are anticipated to drive growth of this segment. Besides, demand for neurosurgery is surging rapidly, owing to rising cases of various neurological disorders. It is mainly happening because of surging prevalence of nerve injuries and spinal cord injuries among people.
- By end-use, hospitals segment contributed to the largest revenue share in 2020. Rising inclination of people towards hospitals to receive better treatment and high demand for various surgical procedures would propel growth of this segment. Besides, increasing adoption of advanced technologies and favorable government policies are also responsible for growth of this segment.
- Demand for occlusion devices is increasing due to subsequent rise in the number of patients suffering from neurological and cardiovascular disorders. Hence, demand for minimally invasive surgeries is surging at a fast pace. Also, increasing incidence of cancer and nerve injuries would contribute to market growth.
- Occlusion devices market in North America accounted for the largest revenue share in 2020, attributed to increasing number of hospitals possessing state-of-the-art medical equipment and availability of advanced occlusion devices. Increasing number of patients with orthopedic and neurological disorders are also responsible for regional growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Abbott Laboratories, Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Edwards Lifesciences Corporation, Johnson & Johnson, Medtronic Plc, Merit Medical Systems, Penumbra, Inc., Stryker Corporation, Terumo Corporation, and Vascular Concepts.
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Occlusion Devices Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Occlusion Removal Devices
- Balloon Occlusion Devices
- Stent Retrievers
- Coil Retrievers
- Suction & Aspiration Devices
- Embolization Devices
- Embolic Coils
- Liquid Embolic Agents
- Tubal Occlusion Devices
- Support Devices
- Microcatheters
- Guidewires
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Diagnostic Centers & Surgical Centers
- Ambulatory Care Centers
- Research Laboratories & Academic Institutes
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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