(PharmaNewsWire.Com, August 02, 2019 ) 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.
The Occlusion Devices market was valued at USD 2.61 Billion in 2017 and is projected to reach USD 3.55 Billion by 2023 from, at a CAGR of 5.3%.
+ Market Dynamics
+ Drivers
+ Expansion of Target Patient Population Base
+ Technological Advancements
+ Favorable Reimbursement Scenario for Minimally Invasive Surgeries
+ Rising Number of Minimally Invasive Vascular Surgeries
+ Focus on Expansion of Manufacturing & Distribution Capabilities in Emerging Markets
+ Clinical Evidence for Safety and Efficacy of Occlusion Devices
The occlusion 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). The occlusion removal devices segment is expected to account for the largest share of the global occlusion devices market in 2018.
The occlusion 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 occlusion devices market in 2018. The increasing number of target neurosurgical procedures across major countries, growing research in the field of interventional neurology, strengthening research capabilities of major product manufacturers, and favorable reimbursement scenario for neurovascular surgeries across developed countries are the key factors supporting the growth of the occlusion devices market for neurology applications.
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