USD 2.8 billion
Occlusion Devices Market Size, Share, Growth Analysis, By Product(Occlusion Removal Devices (Coil Retrievers, Stent Retrievers, and Other Occlusion Removal Devices), Embolization Devices), By Application(Peripheral Vascular Disease, Neurology, Oncology, Urology), By End-user(Hospitals, Ambulatory Surgical Centers, and Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2550 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
94
|Figures:
76
Occlusion Devices Market Insights
Occlusion Devices Market size was valued at USD 2.8 billion in 2022 and is poised to grow from USD 2.94 billion in 2023 to USD 4.38 billion by 2031, at a CAGR of 5.1% during the forecast period (2024-2031).
The global occlusion devices market is experiencing significant growth due to several factors. The increasing prevalence of cardiovascular diseases, neurovascular disorders, and peripheral vascular diseases is driving the demand for occlusion devices.
These devices, including occlusion removal devices, embolization devices, and support devices, play a crucial role in the treatment of such conditions.
The rising aging population, along with advancements in minimally invasive surgical procedures, is further fueling market growth. Additionally, the growing adoption of endovascular procedures and the increasing preference for outpatient settings, such as ambulatory surgical centers, are boosting the demand for occlusion devices.
Geographically, North America holds a substantial share in the market, attributed to the high prevalence of cardiovascular diseases and the presence of key market players in the region. Europe and Asia-Pacific are also witnessing significant growth due to the increasing healthcare infrastructure, rising awareness, and expanding patient population.
Overall, the occlusion devices market is expected to continue its upward trajectory in the coming years.
US Occlusion Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
5.1% CAGR
Global Occlusion Devices Market by region
Country Share for Asia Pacific region (%)
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Occlusion Devices Market Segmental Analysis
The market for Occlusion Devices is categorized based on product type, applications, end users, and geography. The product segment includes occlusion removal devices (such as coil retrievers, stent retrievers, and other occlusion removal devices), embolization devices, and support devices. These devices find applications in various areas such as peripheral vascular disease, neurology, oncology, urology, and other specialized applications. The end users of these devices are hospitals, ambulatory surgical centers, and other healthcare facilities. Geographically, the market is divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Occlusion Devices Market Analysis By Product
The occlusion removal devices segment is anticipated to witness the fastest growth. This can be attributed to the increasing adoption of minimally invasive procedures and the rising demand for efficient occlusion removal devices in the treatment of cardiovascular diseases and neurovascular disorders. Technological advancements and product innovations, such as coil retrievers and stent retrievers, are driving the growth of this segment. On the other hand, the embolization devices segment holds the largest market share. The increasing prevalence of tumors, aneurysms, and vascular malformations is driving the demand for embolization devices. These devices help in blocking or reducing blood flow to the targeted areas, thus aiding in the treatment of such conditions. With the growing incidence of such diseases, the demand for embolization devices is expected to remain high, contributing to the segment's dominant position in the market for occlusion devices.
Occlusion Devices Market Analysis By Product
The neurology segment is anticipated to witness rapid growth in the occlusion devices market. This can be attributed to the increasing prevalence of neurovascular disorders such as ischemic stroke and aneurysms, coupled with the rising adoption of minimally invasive neurovascular procedures. The growing demand for effective and safe treatment options for these conditions is driving the market's growth in the neurology segment.
On the other hand, the largest segment in terms of market share is the peripheral vascular disease application. The rising incidence of peripheral vascular diseases, such as peripheral arterial disease and deep vein thrombosis, contributes to the significant market size. The increasing geriatric population, sedentary lifestyles, and the high prevalence of risk factors like diabetes and obesity are key factors driving the demand for occlusion devices in the peripheral vascular disease application.
Global Occlusion Devices Market by End-user
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Occlusion Devices Market Regional Insights
In terms of the fastest-growing region, Asia-Pacific is witnessing significant growth in the occlusion devices market. Factors such as the rising prevalence of cardiovascular diseases, improving healthcare infrastructure, increasing healthcare expenditure, and growing awareness about minimally invasive procedures are driving market growth in the region. Additionally, the presence of a large patient population and expanding medical tourism further contribute to the market's growth in Asia-Pacific.
On the other hand, North America holds the largest market share in the occlusion devices market. This can be attributed to factors such as the high prevalence of cardiovascular diseases, favorable reimbursement policies, robust healthcare infrastructure, and technological advancements. The presence of key market players and ongoing research and development activities in the region also contribute to its market dominance in occlusion devices.
Global Occlusion Devices Market by region
- Largest
- Fastest
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Occlusion Devices Market Dynamics
Occlusion Devices Market Drivers
Increasing Prevalence of Cardiovascular and Neurovascular Diseases
- The rising incidence of cardiovascular diseases, neurovascular disorders, and peripheral vascular diseases is a significant driver for the occlusion devices market. These conditions require effective treatment options, such as occlusion devices, to restore blood flow and prevent complications. The growing global burden of these diseases, coupled with the aging population and unhealthy lifestyles, contributes to the increased demand for occlusion devices.
- Technological advancements in minimally invasive procedures have revolutionized the field of occlusion devices. These devices provide non-surgical or minimally invasive options for the treatment of occlusions, leading to reduced trauma, shorter recovery times, and improved patient outcomes. The development of innovative devices, such as occlusion removal devices and embolization devices, with enhanced safety and efficacy, is driving the market growth. The increasing preference for minimally invasive procedures by both patients and healthcare professionals is propelling the demand for occlusion devices.
Occlusion Devices Market Restraints
Stringent Regulatory Approval Processes
- The occlusion devices market is subject to strict regulatory approval processes that ensure patient safety and product efficacy. Obtaining regulatory approvals, such as FDA clearance or CE marking, can be time-consuming and costly. Stringent regulations and the need to meet specific quality standards pose challenges for market players, particularly small and medium-sized enterprises, in entering or expanding their presence in the market.
- The cost of occlusion devices, including occlusion removal devices, embolization devices, and support devices, can be a significant restraint for market growth. The high manufacturing costs, research and development expenses, and the need for specialized materials contribute to the higher prices of these devices. The cost factor can limit market access and adoption, particularly in regions with limited healthcare budgets or in emerging economies where affordability is a concern.
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Occlusion Devices Market Competitive Landscape
The competitive landscape of the occlusion devices market is characterized by the presence of several key players striving to maintain their market position and gain a competitive edge. Companies in this market focus on product development, strategic collaborations, mergers and acquisitions, and geographical expansions to strengthen their market presence. These companies have a wide range of occlusion devices in their product portfolios and invest significantly in research and development activities to introduce innovative and technologically advanced solutions. They also emphasize obtaining regulatory approvals for their products to ensure compliance with quality and safety standards. The competitive landscape of the occlusion devices market is dynamic, with intense competition based on factors such as product quality, efficacy, pricing strategies, and customer relationships, driving continuous innovation and development in the market.
Occlusion Devices Market Top Player’s Company Profiles
- Medtronic plc (Ireland)
- Boston Scientific Corporation (United States)
- Abbott Laboratories (United States)
- Terumo Corporation (Japan)
- Johnson & Johnson (United States)
- Stryker Corporation (United States)
- Cook Medical Inc. (United States)
- Cardinal Health, Inc. (United States)
- Penumbra, Inc. (United States)
- MicroPort Scientific Corporation (China)
- B. Braun Melsungen AG (Germany)
- Edwards Lifesciences Corporation (United States)
- Merit Medical Systems, Inc. (United States)
- W. L. Gore & Associates, Inc. (United States)
- BTG International Ltd. (United Kingdom)
- Balt USA, LLC (France)
- Asahi Intecc Co., Ltd. (Japan)
- Penumbra, Inc. (United States)
- Acandis GmbH & Co. KG (Germany)
- C. R. Bard, Inc. (United States)
Occlusion Devices Market Recent Developments
- In February 2020, BD Peripheral Intervention announced that the arterial Caterpillar and embolization devices received FDA approval. The market for occlusion devices is gaining significant momentum in the field of oncology. The use of these devices in oncology plays a crucial role in preventing blood loss during procedures, particularly through the application of liquid embolic penetration.
Occlusion Devices Key Market Trends
- These devices are designed to gradually dissolve and be absorbed by the body over time, eliminating the need for device removal procedures. The demand for bioresorbable occlusion devices is increasing due to their potential benefits, such as reduced risk of long-term complications and improved patient comfort. Manufacturers are investing in research and development efforts to enhance the bioresorbable materials used in these devices and improve their safety and efficacy. This trend aligns with the growing emphasis on patient-centric healthcare and personalized treatment options in the field of occlusion device interventions.
Occlusion Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the future prospects of the occlusion devices market appear promising. Factors such as the growing geriatric population, increasing incidence of cardiovascular and neurovascular diseases, and advancements in minimally invasive techniques are expected to drive market growth. Technological innovations, such as the development of more precise and effective occlusion devices, are anticipated to further propel the market. Additionally, the rising demand for outpatient procedures, expanding healthcare infrastructure in emerging economies, and a focus on improving patient outcomes will create opportunities for market expansion. However, challenges such as stringent regulatory requirements and high product costs may need to be addressed to unlock the full potential of the occlusion devices market. Overall, the market is projected to experience significant growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.8 billion |
| Market size value in 2031 | USD 4.38 billion |
| Growth Rate | 5.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Occlusion Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Occlusion Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Occlusion Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Occlusion Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Occlusion Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Occlusion Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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