Hospitals Segment is expected to grow the Market for Chronic Total Occlusion over the Forecast Period for End User Segment.
According to The Insight Partners market research study titled ‘Chronic total occlusion Market to 2025 – Global Analysis and Forecasts by Equipment and End User. The global chronic total occlusion market is expected to reach US$ 516.1 Mn in 2025 from US$ 280.7 in 2017. The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global chronic total occlusion market and the factors driving the market along with those that act as deterrents to its growth.
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Global chronic total occlusion market, based on end user was segmented hospitals, ambulatory care centers and others. In 2017, hospitals segment held the largest share of the market, by end user. CTOs are blockages that have typically been present for above than three months.
These blockages are a result of severe build-up of fatty deposits or plaque within the arteries (atherosclerosis) and are one of the complications from coronary artery disease (CAD). Hospitals dominate the end user segment as it is the primary health systems in most of the countries. Hence the number of CTO procedures in hospitals is more than any other healthcare facility. Also, increasing adoption of new technology devices in the hospitals and rising hospital research drives the market growth. Thus, hospitals is expected to dominate the end-user segment during the forecast period.
The market for chronic total occlusion is expected to grow as increasing demand for minimally invasive surgical procedures, rising prevalence of artery diseases, technological advancements, and rising geriatric population are expected to fuel the market growth during the forecast period. In addition, increasing medical tourism in emerging nations are likely to have a positive impact on the growth of the global chronic total occlusion market in the coming years.
The major players operating in the chronic total occlusion market are ASAHI INTECC CO., LTD, SoundBite Medical Solutions, Integer Holdings Corporation, Baylis Medical Company, Inc, SPECTRANETICS, C. R. Bard, Inc., Boston Scientific Corporation, Medtronic, Terumo Corporation, Cordis, and Abbott. For instance, in August 2017, Koninklijke Philips N.V. completed the acquisition of The Spectranetics Corporation in order to accelerate its strategic expansion into cardiovascular devices.
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The report segments the global chronic total occlusion market as follows:
Global chronic total occlusion Market – By Equipment
- Micro Catheters
- Guide Wires
- Crossing Devices
- Re-Entry Devices
Global Chronic total occlusion Market – By End User
- Ambulatory Care Centers
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