Occlusion Devices Market Report, Global Market Share, Trend Analysis & Forecast

Occlusion is the medical term which includes blockage of a blood vessel, usually with a clot. There are various occlusion devices available which are used to treat different cardiovascular, neurological and retinal defects.

Occlusion Devices Market Outlook

The global occlusion devices market has gained sustainable growth owing to increasing demand for minimal vascular surgeries and increasing rate of patient population base. Furthermore, the overall market is also being propelled by the rising healthcare expenditure across developing countries generated from emerging countries. Improving medical infrastructure and growing expenditure on healthcare are some of the major factors responsible for this growth. The market is further boosted by technological advancements and increasing availability of diagnostic services for various chronic diseases. However, the global occlusion devices market is hampered by excessive cost of the devices and stringent regulatory framework for product commercialization.

Occlusion Devices Market Segmental Overview

The report analyses the occlusion devices market based on product, application, end user and geography. 

Occlusion Devices Market by Product 

Based on product, the global occlusion devices market is segmented into occlusion removal devices, embolization devices, support devices and tubal occlusion devices. The occlusion removal devices are sub segmented into, balloon occlusion devices, stent retrievers, coil retrievers and suction & aspiration devices. Embolization devices are divided into, embolic coils and liquid embolic agents. Support services are bifurcated into, microcatheters and guidewires. Among all products, the occlusion removal devices segment accounted for the largest share of the occlusion devices market. This growth of this segment is mainly attributed to high occurrence of lifestyle illnesses, increasing research to validate the clinical efficacy of novel occlusion removal devices new and growing patient preference for minimally invasive surgeries. 

Occlusion Devices Market by Application 

Based on application, this market is segmented into cardiology, gynaecology, neurology, oncology, peripheral vascular disease and urology. In 2018, the neurology segment leads the global occlusion devices market and is expected to maintain its dominance over the projected period. Increasing number of patients suffering neurosurgical disorder and favourable reimbursement scenario for neurovascular surgeries across developed countries are the key factors supporting the growth of the occlusion devices market for neurology applications. 

Occlusion Devices Market by End Users 

Based on end user, this market is categorized into hospitals & surgical centres, ambulatory care centres (ACCS) and others. Other including diagnostic centres, research laboratories & academic institutes. The hospital segment accounted for the largest market share and is projected to register for highest CAGR during the forecast period. Increasing patient population, rising perseverance of cardiac and neurological diseases globally robust the growth of the hospital segment in the global occlusion devices market and increase in the number of surgeries performed in the hospitals. 

Occlusion Devices Market by Geography By geography, occlusion devices market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. North America is estimated to account for the largest share, followed by Asia-Pacific. Factors such as flexible medical reimbursements for cardiovascular procedures coupled with the advanced healthcare infrastructure in this region especially in the United States are fuelling the growth in North America. In addition to this, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The demand for occlusion devices is increasing in emerging markets such as China and India due to rising disposable income, improving healthcare standards and reforms in foreign policies

Occlusion Devices Market Key Players

Some of the market players in the global occlusion devices market Abbott, Acrostak Int, AngioDynamics, ASAHI INTECC CO., LTD, Avinger, Boston Scientific Corporation, B. Braun Melsungen AG, Cardinal Health, Cook Group, BD, Edwards Lifesciences Corporation, Medtronic, Penumbra, Inc, Stryker, TERUMO CORPORATION, etc. Furthermore, strategies such as expansions, as well as partnerships and agreements and new product launches were also implemented by the prominent players to expand their R&D competences and geographic presence in the global market