According to the new market research “Occlusion Devices Market by Product (Occlusion Balloon, Stent Retriever, Suction Device, Coil Embolization, Liquid Embolics), Application (Cardiology, Neurology, Peripheral Vascular, Urology, Oncology, Gyno), End User – Global Forecast to 2023”. The global occlusion devices market was valued at USD 2.61 Billion in 2017 and is projected to reach USD 3.55 Billion by 2023 from, at a CAGR of 5.3%.
The global Occlusion Devices market is segmented based on product, application and end user.
On the basis of product, the occlusion devices market is segmented into occlusion removal devices (balloon occlusion devices, stent retrievers, coil retrievers, and suction and aspiration devices), embolization devices (embolic coils and liquid embolic agents), tubal occlusion devices, and support catheters (microcatheters and guidewires). The occlusion removal devices segment is expected to account for the largest share of the global occlusion devices market in 2018.
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On the basis of application, the occlusion devices market is categorized into neurology, cardiology, peripheral vascular diseases, urology, oncology, and gynecology. Neurology applications are expected to account for the largest share of the occlusion devices market in 2018. The increasing number of target neurosurgical procedures across major countries, growing research in the field of interventional neurology, strengthening research capabilities of major product manufacturers, and favorable reimbursement scenario for neurovascular surgeries across developed countries are the key factors supporting the growth of the occlusion devices market for neurology applications.
Based on end user, the market is segmented into hospitals, diagnostic centers, and surgical centers; ambulatory care centers; and research laboratories & academic institutes. The hospitals, diagnostic centers, and surgical centers segment is expected to register the highest CAGR during the forecast period. This is attributed to the ongoing technological advancements in the field of minimally invasive or image-guided medical procedures and growing availability of healthcare reimbursements across major countries for minimally invasive medical procedures that covers occlusion devices.
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Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The large share of North America in the global occlusion devices market is attributed to the increasing availability of medical reimbursements for cardiovascular procedures, increasing patient preference for minimally invasive surgical procedures, and strong market presence of key OEMs (that replicates into the easy availability of occlusion devices).
Market Players
The key players in the Occlusion Devices market are Boston Scientific (US), Medtronic (Ireland), Terumo (Japan), Stryker Corporation (US), and Penumbra (US). Other prominent players present in this market are Abbott (US), Cardinal Health (US), B. Braun (Germany), Asahi Intecc (Japan), C.R. Bard (US), Cook Group (US), Angiodynamics (US), and Acrostak (US).
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