Occlusion Devices Market is anticipated to grow at a CAGR of 5.2% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Occlusion Devices Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Occlusion Devices Market accounted for over ~US$ 2.9 billion in 2019. It is anticipated to grow at a CAGR of 5.2% from 2020 to 2030.
The growth of the occlusion devices market can be attributed to several factors, such as the preference for minimally invasive procedures, growing economies, well-established healthcare settings and the prevalence of cardiovascular and other chronic diseases. Moreover, rising awareness among people regarding disease treatments, increasing health expenditure and the effectiveness of occlusion devices in preventing strokes have further added to the demand for occlusion devices in the treatment of health conditions worldwide. Furthermore, the efficiency and availability of specific occlusion devices to treat urological, neurological, and gynecological conditions, among others, are anticipated to drive growth of the occlusion devices market.
Factors, such as the efficiency of occlusion devices, adoption of minimally invasive procedures, favorable reimbursement policies for implantation & surgical procedures and the adoption of image-guided instruments in medical procedures are driving the global occlusion devices market. Amplatzer Piccolo Occluder is a pea-sized, minimally invasive, percutaneous trans-catheter occlusion device used in the treatment of patent ductus arteriosus (PDA). It is a common congenital disorder that results in a life-threatening opening in the heart of premature infants and newborns. The FDA (Food and Drug Administration) approved Abbott's Amplatzer Piccolo Occluder in January 2019. In March 2019, the device was first implanted in a premature baby with PDA at the Le Bonheur Children’s Hospital in Tennessee, United States.
However, the lack of skilled professionals and stringent regulations for approval of occlusion devices are restraining the occlusion devices market to a certain extent.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Occlusion Devices Market By Product (Embolization Devices, Occlusion Removal Devices, Tubal Occlusion Devices, and Support Devices), By End User (Ambulatory Care Centers (ACCS); Hospitals, Diagnostic Centers, & Surgical Centers; and Research Laboratories & Academic Institutes), and By Application (Cardiology, Gynecology, Neurology, Oncology, Peripheral Vascular Disease, and Urology) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/occlusion-devices-market/355
Asia Pacific is estimated to account for the highest CAGR in the occlusion devices market during the forecast period, owing to factors such as growing economies, the developing healthcare sector, adoption of new technologies for improved patient treatment, and high prevalence & rising incidents of cardiovascular diseases. North America dominated the global occlusion devices market in 2018 owing to favorable reimbursement policies for surgical procedures and implantations, growing healthcare expenditure, the increasing number of neurosurgeries, and extensive work in the area of interventional neurology, which will boost the occlusion devices market in this region.
Some of the prominent players in the occlusion devices market include Abbott, Cardinal Health, Boston Scientific Corporation, Medtronic, Edwards Lifesciences Corporation, BD, ASAHI INTECC CO., LTD., BVM Medical Limited, Acrostak Int., Cook, and others.
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