Occlusion Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Occlusion Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : August, 2020 | Medical Devices | PPT format

Report Digest


Occlusion Devices Market: Snapshot

Occlusion devices are popularly used in cardiology for correcting the conditions caused by obstructions of blood flow in coronary artery. These medical devices have emerged as a more effective option than anticoagulation therapy in treating the strokes caused by atrial fibrillation. For instance, of late, the market is witnessing promising avenues from the marked therapeutic efficacy of occlusion devices to reduce the risk of embolic stroke caused by left atrial appendage (LAA). The devices form a key element of the interventional strategy for the closure of the LAA. Several factors underpin their rising popularity over anticoagulation. They are considered safe, effective, and are cost-effective. The growing contraindication for oral anticoagulation is also boosting the market. The rising risk of ischemic stroke from LAA in various parts of the world is bolstering the demand for cardiac occlusion devices.

Several clinical studies aimed toward evaluating the safety and efficacy of occlusion devices for LAA occlusion augur well for the overall market. Cardiac occlusion devices have reduced the risk of open surgery in many patients. Another attractive avenue in the application of occlusion devices is in the treatment of congenital heart defects. They are being widely used in persistent ductus arteriosus closure procedures for different types and sizes. Innovations in materials used for making these devices are constantly expanding the prospects of the market. For instance, the use of alloys renders marked performance benefits to occlusion devices. The rising demand for occlusion devices in interventional neurology is another significant factor propelling the growth of the market. This is attributed to the rising demand for minimally-invasive, image-guided procedures in various medical specialties, including cardiology and neurology, world over. The presence of favorable reimbursement scenarios for these surgeries and implantations is supporting the rapid expansion of the occlusion devices market in numerous developing and developed countries.

Global Occlusion Devices Market: Overview

Complete or partial obstruction of blood flow in a coronary artery leads to coronary occlusion. In some cases it leads to mild discomfort or pain in patients coronary. However, in some cases muscle tissue of the heart called myocardium can be damaged. To treat such conditions, occlusion devices are used. Besides cardiology, they also find application in neurology, peripheral vascular diseases, cardiology, oncology, urology, and gynecology. End users driving the uptake of such products include diagnostic centers, hospitals, surgical centers, research laboratories and academic institutions, and ambulatory care centers.

Global Occlusion Devices Market: Drivers and Restraints

Numerous factors are serving to boost the uptake of occlusion devices market. Those include the rise in the number of target patients and continued progress in the quality of products vis-à-vis features and functionalities. Besides, favorable reimbursement policies for such minimally invasive procedures and mounting clinical evidence corroborating the efficiency and safety of such products is also playing a key role in catalyzing growth. Posing a challenge to the market, on the other hand, is the steep cost of products, tough regulatory norms and approval procedures, and inadequate number of highly-trained surgeons to carry out the procedures.

Some of the top grossing occlusion devices in the market are occlusion removal devices, embolization devices, and support devices. Of them, the segment of occlusion removal devices is comprised of balloon occlusion devices, coil retrievers, stent retrievers, and suction and aspiration devices. Under embolization devices, key products are embolic coils, tubal occlusion devices, and liquid embolic agents. Again support devices include guidewires and microcatheters.

Global Occlusion Devices Market: Trends and Opportunities

There are opportunities abound in the neurological area for keen players in the global market for occlusion devices. This is because of the surging number of target neurosurgeries worldwide, increasing research in the domain of interventional neurology, cutting-edge research for product innovation by cash-rich manufacturers, and helpful reimbursement policies.

Currently, hospitals and surgical and diagnostic centers are majorly stoking demand for occlusion devices. This is because of the increasing popularity of minimally invasive or image-guided procedures and better reimbursement facilities. A noticeable trend in the market is the usage of biomaterials in occlusion devices for handling cardiac defects. Design of the products plays a key role in their usage.

Global Occlusion Devices Market: Regional Analysis

From a regional perspective, North America, Asia Pacific, Europe, and the Rest of the World are key regions in the global market for occlusion devices. Among them, North America and Europe are prominent markets, reason being the numerous medical reimbursements available for cardiovascular procedures, rising popularity of minimally invasive surgical procedures which take faster time to heal and also reduce risks of complications, and presence of many original equipment manufacturers which has led to easy availability of occlusion devices.

Global Occlusion Devices Market: Competitive Landscape

Some of the prominent participants in the global market for occlusion devices are Boston Scientific, Medtronic, Terumo, Stryker Corporation, Penumbra, Abbott, Cardinal Health, B. Braun, Asahi Intecc, C.R. Bard, Cook Group, Angiodynamics, and Acrostak. Such players are seen trying to grow their market shares through acquisition of smaller companies that not just enables them to diversify their product portfolio but increase geographical footprints. They are also banking upon long term contracts with hospitals and other healthcare centers to ensure steady uptake of their products.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.