The global Occlusion Removal Devices market size is expected to reach USD 4.62 Billion in 2028 and register a CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Usage of Occlusion Removal Devices to prevent blood clots effectively is set to drive market revenue growth. If blood clots are not prevented on time, these may lead to stroke. Also, Occlusion Removal Devices are extensively used in various applications such as cardiology neurology, oncology and others.

Rising demand for Occlusion Removal Devices from hospitals, diagnostic centers & surgical centers, and ambulatory care centers will enhance market growth during the forecast period. These devices are helpful in maintaining the proper function of a patient's body after he/she has suffered from peripheral vascular diseases or other severe disorders.

Rising number of surgeries associated with cardiological and neurological disorders has increased demand for Occlusion Removal Devices, which, in turn, would help the market to grow at a fast pace. Occlusion Removal Devices are nowadays being used in the field of oncology. Embolization helps to prevent blood flow to a tumor and minimizes blood loss at the time of surgeries.

However, high cost of these devices may hamper growth of the Occlusion Removal Devices market in the upcoming years. Additionally, stringent government rules and regulations revolving around the launch of new Occlusion Removal Devices and expensive nature of complex surgical procedures are also set to hinder market growth. Coupled with this, lack of advanced healthcare facilities in underdeveloped countries is anticipated to affect the Occlusion Removal Devices market growth negatively in the near future.

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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.

Some Key Highlights From the Report:

  • By application, neurology segment accounted for the largest revenue share in 2020. Increasing geriatric population and rising cases of sports injuries & accidents are anticipated to drive growth of this segment. Besides, demand for neurosurgery is surging rapidly, owing to rising cases of various neurological disorders. It is mainly happening because of surging prevalence of nerve injuries and spinal cord injuries among people.
  • By end-use, hospitals segment contributed to the largest revenue share in 2020. Rising inclination of people towards hospitals to receive better treatment and high demand for various surgical procedures would propel growth of this segment. Besides, increasing adoption of advanced technologies and favorable government policies are also responsible for growth of this segment.
  • Demand for Occlusion Removal Devices is increasing due to subsequent rise in the number of patients suffering from neurological and cardiovascular disorders. Hence, demand for minimally invasive surgeries is surging at a fast pace. Also, increasing incidence of cancer and nerve injuries would contribute to market growth.
  • Occlusion Removal Devices market in North America accounted for the largest revenue share in 2020, attributed to increasing number of hospitals possessing state-of-the-art medical equipment and availability of advanced Occlusion Removal Devices. Increasing number of patients with orthopedic and neurological disorders are also responsible for regional growth.

Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Occlusion Removal Devices Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter's Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Cardinal Health
  • Edwards Lifesciences Corporation
  • Johnson & Johnson
  • Medtronic Plc
  • Merit Medical Systems
  • Penumbra, Inc.
  • Stryker Corporation
  • Terumo Corporation
  • Vascular Concepts

Occlusion Removal Devices Market Segmentation:

Product Type Outlook:

  • Occlusion Removal Devices
  • Balloon Occlusion Removal Devices
  • Stent Retrievers
  • Coil Retrievers
  • Suction & Aspiration Devices
  • Occlusion Removal Devices
  • Embolic Coils
  • Liquid Embolic Agents
  • Tubal Occlusion Removal Devices
  • Support Devices
  • Microcatheters
  • Guidewires

End-use Outlook:

  • Hospitals
  • Diagnostic Centers & Surgical Centers
  • Ambulatory Care Centers
  • Research Laboratories & Academic Institutes

Application Outlook:

  • Neurology
  • Cardiology
  • Peripheral Vascular Diseases
  • Urology
  • Oncology
  • Gynecology

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global Occlusion Removal Devices market over the forecast period?
  • What are the major factors driving the growth of the Global Occlusion Removal Devices Market?
  • What are the key challenges impacting the global Occlusion Removal Devices market growth?
  • What are the outcomes of the SWOT Analysis and Porter's Five Forces Analysis conducted in the report?

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