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Occlusion Devices Market Witness Significant Growth | Boston Scientific, Medtronic, Terumo, Stryker Corporation, Penumbra, Abbott, Cardinal Health, B. Braun, Asahi Intecc

05-09-2019 09:11 AM CET | Health & Medicine

Press release from: TMR Research

Occlusion Devices Market Witness Significant Growth | Boston

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.

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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.

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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.

About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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San Francisco, CA 94121
United States
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