The Occlusion Devices Market is expected to be valued at USD 4,378.5 Million in 2027 from USD 2,952.3 Million in 2019, registering a CAGR of 5.0% through the forecast period. The substantial growth of the occlusion devices market can be ascribed to the escalating burden of neurological diseases that have led to the emergence of numerous neurological devices. Millions of individuals across the world suffer from neurological disorders, and nearly 6 million deaths are recorded on account of brain stroke, with approximately 80% deaths recorded in low- and middle-income countries.
One of the most frequent applications of occlusion devices, also known as neurological embolization devices, is in the aneurysm coil embolization procedure, which is used to treat brain aneurysms. Brain aneurysms embolization uses imaging modality for guidance to implant small metallic coils within the aneurysm to restrict the flow of blood and to inhibit aneurysms’ bursting.
The increasing inclination of patients towards minimally invasive surgeries plays a pivotal role in the expansion of the market. Occlusion devices, such as embolization devices, are extensively used in the less invasive treatment of blocking an atypical vascular channel or blood vessels. During catheter embolization procedures, embolic agents are delivered directly into the vessels through a catheter to change blood flow direction towards the target location.
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Key Highlights from Report:
- Stent retrievers are a revolutionary innovation in altering the treatment approach of severe strokes. In a year, approximately 690,000 people in the United States suffer from strokes, generally caused by ischemia or a clot.
- Urethral occlusion devices are experiencing a significant demand in the industry due to their several advantages, such as the prevention of involuntary loss of urine in palliative care patients.
- The Asia Pacific market for occlusion devices is projected to observe a significantly high growth rate during the projected timeframe. This exponential growth can be accredited to the escalating caseload of chronic illnesses and the augmenting awareness and preference for early diagnosis and treatment of cardiac and neurological disorders. Moreover, changing lifestyle choices, rising environmental pollution levels, and exposure to hazardous chemicals are further adding traction to the market growth.
- Prominent companies in the market include Stryker Corporation, Medtronic PLC, Cardinal Health, Boston Scientific, Abbott Laboratories, Becton, Dickinson and Company, Cook Group, Terumo Corporation, Acrostak AG, and B. Braun Melsungen, among others.
- Orchestra BioMed, Inc. and Terumo Corporation, a Japanese medical devices company, in July 2019, formed a strategic partnership. Under the agreement, the two companies will work towards developing and commercializing the “Virtue Sirolimus-Eluting Balloon.” The device has received the Breakthrough Device designation from the U.S. FDA for the coronary in-stent restenosis treatment.
For the purpose of this report, Emergen Research has segmented the Global Occlusion Devices Market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Occlusion Removal Devices
- Stent Retrievers
- Balloon Occlusion Devices
- Suction & Aspiration Devices
- Coil Retrievers
- Embolization Devices
- Embolic Coils
- Tubal Occlusion Devices
- Liquid Embolic Agents
- Support Devices
Application Outlook (Revenue, USD Billion; 2017-2027)
- Peripheral Vascular Diseases
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Surgical Centers
- Diagnostics Centers
- Research Institutes
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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