Occlusion device is a technology related to the treatment of different cardiovascular defects, neurological defects, retinal defects and others. These occlusion devices are used to treat occlusion which is medically referred as the blockage or closing of the blood vessels or any hollow organs. The Global Occlusion Devices Market had a value of 2.74 Billion USD in 2018 and is estimated to reach 4.29 Billion USD by 2025 with a CAGR of 6.63% during the forecast period
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Growth by Region
North America leads the Global Occlusion Devices market with a market share of around 35% in 2018 followed by Europe and Asia Pacific. Other region’s market is insignificant compared to these regions as the rest of the world has a market share of just 15% of total market value.
Drivers vs. Constraints
The Global Occlusion Devices Market is mainly run due to the high occurrences of heart related diseases and because of huge demand for disease diagnosis and treatment methods. A raise in the access to the diagnostic services for various chronic diseases boosts the market growth of Global Occlusion Devices Market.
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Industry Structure and Update
For encouraging insurance policies in which they cover 75% of cost of devices and treatment the government of United States of America introduced a Medicare plan in which if the Average cost of Occlusion Device is USD 8000 then US government provides a reimbursement of USD 6000.