Global Occlusion Device
Market Report
2024
Occlusion devices market was valued at USD 3.39 billion in 2022 and will reach USD 5.09 billion by 2030, registering a CAGR of 5.2% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global occlusion devices market was valued at USD 3.39 billion in 2022 and will reach USD 5.09 billion by 2030, registering a CAGR of 5.2% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Occlusion Device Market Sales Revenue 2022 | $ 3.39 Billion |
Global Occlusion Device Market Sales Revenue 2030 | $ 5.09 Billion |
Global Occlusion Device Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.2% |
Market Split by Product |
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Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Occlusion Device Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Occlusion is the medical term that refers to the blockage of blood vessels, openings, or hollow organs. Occlusion devices are used to treat various defects and conditions inside the patient's body. The defects include gynecological, cardiovascular, neurological, oncological, and others which can be treated by using occlusion devices. These devices are clinically tested and are effective in the removal of occlusion from the patient’s body parts. These devices comprise a holder and thin wire braiding suitably molded with heat treatment and also have two retention areas: proximal and distal retention areas, in which the ends of wires joined into the holder in the distal retention area. These two retention areas are placed on both sides of a shunt which are to be occluded in the septum with the help of an endovascular surgical procedure.
Market Dynamics of the Occlusion Devices Market:
Drivers:
Due to the rising cases of chronic disorders like cardiovascular diseases, diabetes, and others, the occlusion devices market has expanded widely. For instance, the WHO information sheet for 2021 states that non-communicable diseases (NCDs), often known as chronic diseases, cause the deaths of nearly 41 million people per year, accounting for roughly 71% of all deaths reported worldwide in that year. According to the same source, more than 15 million people worldwide die from NCDs each year between the ages of 30-69. Due to the high incidence of NCD-related mortality, there is an increasing demand for treatment techniques. According to the same source, more than 15 million people worldwide die from NCDs each year between the ages of 30-69. Due to the high incidence of NCD-related mortality, there is an increasing demand for treatment techniques that drives the market.
The treatment of aberrant blood flows and thrombus embolization in the heart with transcatheter closure is commonly considered as being quite effective. It permits the closure of the left atrial appendage (LAA) associated with stroke and four different congenital heart abnormalities (CHDs). The transition to minimally invasive deployment from open cardiac surgery, which has a high level of complication and injury, or from lifetime medication, which carries a high risk of blood loss, has been sped up by advancements in occlusion device materials and configurations. The last few decades have seen the development of a wide variability of occlusion devices, especially cutting-edge ones like 3D-printed and biodegradable occlusion devices, which are seen as the next generation's replacements for traditional Nitinol-based occlusion devices due to their biodegradability, customizability, and enhanced biocompatibility. Safety improvement is another benefit of technology. Therefore, it is anticipated that all these technological advancements will fuel market expansion during the forecast period.
Restraints:
As there is an increase in the cases of chronic disorders, there is high demand for occlusion procedures and hence a high number of skilled professionals are required. For operating such occlusion devices, large skilled professionals are required and the lack of such professionals hinders the occlusion devices market. Training for skilled professionals can be provided to cope with the restraining factor.
Impact of the COVID-19 Pandemic on the Occlusion Devices Market:
The novel coronavirus has witnessed a significant impact on the Occlusion Devices market. The government announced a lockdown at an early stage of the pandemic to avoid the spread of the disease. The number of endoscopic procedures was reduced in 2020 due to the COVID-19 pandemic in contrast to 2019. The healthcare system was critically affected due to a swap in diagnostic procedures and a rising patient influx. Occlusion procedures were postponed that were scheduled earlier considering them as nonurgent because the procedure may cause infection or COVID to the person, medical personnel, or other patients and that loss would be considered big. Post-pandemic, surgical care was provided to the patients by healthcare facilities as COVID-19 cases started declining. The number of occlusion procedures also increased, gradually bringing the number of procedures back to the pre-pandemic period. However, due to the vaccinations and declining cases of COVID-19, the market is expected to gain traction in coming years.
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Recent Developments:
March 2020
Okami Medical announced the first patient treated with LOBO vascular occluder which was uniquely designed to provide interventional physicians with a single device, one-and-done solution for occlusion of various arterial targets without the need for multiple embolic devices.
September 2020
Avinger received FDA clearance for Ocelaris which is next generation image-guided chronic total occlusion (CTO) crossing system marketed under the brand name TIGEREYE to reinforce its highly providing real-time imaging from the inside vessel during the CTO crossing procedure.
Top Companies Market Share in Occlusion Device Industry: (In no particular order of Rank)
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North America is anticipated to be the dominant region throughout the forecast period
North America is anticipated to be the market leader for occlusion devices. The region's major growth drivers are the rising frequency of favorable reimbursement scenarios for minimally invasive procedures, the growing incidence of patients with chronic diseases, and technological advancement. In addition, government efforts, a rise in the elderly population, and increased healthcare spending all contribute to the market's expansion. By 2030, it is also projected that the presence of significant key players would help the region's occlusion devices market expansion.
The European market is also expected to witness favorable growth prospects during the forecast period. Hence, this region is the major contributor to the growth of the occlusion devices market. This market revenue growth in Europe is mainly attributed to factors such as the increasing incidence rate of fatal accidents and sports injuries, the increasing prevalence of neurological disorders, and the rising number of neurosurgical procedures.
The current report Scope analyzes Occlusion Device Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Occlusion Device Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Occlusion Device Industry growth. Occlusion Device market has been segmented with the help of its Product, Application End User, and others. Occlusion Device market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The occlusion removal devices dominated the market
Based on product type, the occlusion devices market is segmented into occlusion removal, embolization, and support devices. Occlusion removal devices dominated the market due to the rising cases of chronic disorders, especially cardiovascular disorders, which increased the demand for these devices for treatment and diagnosis. The growth of this segment is due to the rising research to validate the clinical efficacy of novel occlusion removal devices as well as new patient preferences for minimally invasive procedures.
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The neurology market segment is anticipated to grow profitably
Based on application, the oncology market is bifurcated into neurology, gynecology, urology, oncology, cardiology, and vascular diseases. The neurology segment is anticipated to grow profitably due to the occurrence of brain aneurysms, and new technological advancements are expected to drive the market. As of 2021, by Brain Aneurysm Foundation, approx. 30,000 people in the U.S. are suffering from a brain aneurysm rupture each year. Blood artery damage or trauma, smoking, hypertension, and genetic susceptibility are all risk factors for the development of a brain aneurysm. Medical therapy, surgical clipping, endovascular therapy, or coiling without or with adjunctive devices are among the options for treating brain aneurysms. According to the WHO's main statistics from August 2021, for example, 1.28 billion persons globally between the ages of 30 and 79 were anticipated to have hypertension, with the majority (two-thirds) residing in low-income countries, which is driving the segment growth.
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The hospital segment held the largest market share, in 2022
Based on end-user, the occlusion devices market is bifurcated into hospitals, diagnostic centers, and ambulatory surgical centers. In 2022, the hospital segment held the largest market share in terms of revenue. As the number of surgeries and procedures are carried out in the hospitals there is movement of people towards the hospitals for various procedures. Hospitals are the primary health systems and the increase in hospital preference by the population for the detection and treatment of chronic diseases is boosting the growth of the segment. As the demand increases for minimally invasive procedures, rising purchasing power across the countries is boosting the segment.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the medical devices & consumables industry. She has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations.
In her current role, Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses. Her collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization.Anushka remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Occlusion Device Market is witnessing significant growth in the near future.
In 2023, the Occlusion Removal Devices segment accounted for noticeable share of global Occlusion Device Market and is projected to experience significant growth in the near future.
The Neurology segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Abbott Laboratories, Angiodynamics and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product | Occlusion Removal Devices, Embolization Devices, Support Devices |
Application | Neurology, Cardiology, Urology, Oncology, Gynecology, Peripheral Vascular Diseases |
End User | Hospitals, Diagnostic Centers, Ambulatory Surgical Centers |
List of Competitors | Abbott Laboratories, Acrostak, Angiodynamics, Asahi Intecc, Avinger, Boston Scientific, B. Braun, Cardinal Health, Cook Group, C.R. Bard Becton Dickinson, Edwards Lifesciences, Medtronic, Penumbra, Stryker Corporation, Terumo Corporation |
This chapter will help you gain GLOBAL Market Analysis of Occlusion Device. Further deep in this chapter, you will be able to review Global Occlusion Device Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Occlusion Device market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Occlusion Removal Devices have a significant impact on Occlusion Device market? |
What are the key factors affecting the Occlusion Removal Devices and Embolization Devices of Occlusion Device Market? |
What is the CAGR/Growth Rate of Neurology during the forecast period? |
By type, which segment accounted for largest share of the global Occlusion Device Market? |
Which region is expected to dominate the global Occlusion Device Market within the forecast period? |
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Additional Quantitative Data |
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