|10-11-2018 02:33 PM CET - Health & Medicine||
Top Trends in Occlusion Devices Market to 2023 - Dominated by Boston Scientific (US), Medtronic (Ireland) and Terumo (Japan)
Press release from: ReportsnReports
Geographically, the occlusion devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The highest CAGR for the APAC occlusion devices market can be attributed to the rising adoption of occlusion devices due to their decreasing costs (owing to the increase in localized manufacturing and strengthening of distribution networks of key product manufacturers) and increasing healthcare expenditure across key APAC countries.
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The global 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%.Growth in target patient population, technological advancements, favorable reimbursement scenario for minimally invasive surgeries, & availability of clinical evidence for the safety and efficacy of occlusion procedures are some of factors responsible for the growth of this market.
Global occlusion devices market is competitive, with a large number of global and local players. In 2017, market was dominated by Boston Scientific (US), Medtronic (Ireland), Terumo (Japan), Stryker Corporation (US), and Penumbra (US). Product launches;market expansions;strategic acquisitions;and partnerships, agreements,& collaborationswere major strategies adopted by market players to achieve growth in the market.
• Original equipment manufacturers (OEMs)
• Product sales and distribution companies
• Healthcare service providers (such as hospitals, diagnostic, and surgical centers)
• Non-government organizations
• Government regulatory authorities
• Research laboratories and academic institutes
• Clinical research organizations (CROs)
• Research and development companies
• Market research and consulting firms
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Occlusion devices market report covers across four major regions, namely, North America, Europe, Asia Pacific, and RoW. North America is expected to command the largest share of the market in 2018.
The large share of North America in occlusion devices market is attributed to the increasing availability of medical reimbursements for cardiovascular procedures, increasing patient preference for minimally invasive surgical procedures (including occlusion treatment), and strong market presence of key OEMs (that replicates into the easy availability of occlusion devices).
Breakdown of supply-side primary interviews: by company type, designation, and region:
• By Company Type - Tier 1 – 25%, Tier 2 – 30% and Tier 3 – 45%
• By Designation – C-level – 26%, Director-level – 30%, Others –44%
• By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17%
Occlusion devices market based on product, application, and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for the market leaders.
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Occlusion devices market research report has focused on various levels of analysis—industry trends, market share analysis of top players, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging & high-growth segments of occlusion devices market,and high-growth regions & countries & their respective drivers, restraints, challenges, and opportunities.
Global Occlusion Devices Market, by Application
• Peripheral Vascular Diseases
Global Occlusion Devices Market, by End User
• Hospitals, Diagnostic Centers, & Surgical Centers
• Ambulatory Care Centers
• Research Laboratories & Academic Institutes
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