Occlusion Devices Market Valuation Worth USD 4,378.5 Million in 2027 | Emergen Research
Increasing number of surgeries, rising number of emergency, trauma and accident cases, and high prevalence of various chronic diseases are some key factors expected to drive global market growth
According to Emergen Research, the global occlusion devices market size was USD 2,952.3 million in 2019 and is expected to reach USD 4,378.5 million in 2027 and register a steady revenue CAGR of 5.0% during the forecast period, 2020-2027.
Market Dynamics:
Occlusion devices are widely used for correcting conditions that cause obstructions in the blood flow. These medical devices are used for treating several chronic conditions such as cardiovascular defects, neurological diseases, retinal defects, and peripheral vascular diseases. Occlusion devices are rapidly gaining traction owing to rising prevalence of neurological diseases and heart-related disorders across the globe. Some of the commonly used occlusion devices include balloon occlusion devices, embolic coils, microcatheters, suction and aspiration devices. Factors such as rising geriatric population and growing awareness about the benefits of occlusion devices are expected to drive global market revenue growth during the forecast period. In addition, rising number of obese people, increasing product launches, and rising investments in R&D activities are expected to fuel market growth going ahead.
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However, dearth of skilled healthcare professionals, inaccessibility to advanced occlusion devices due to budget constraints, and stringent regulatory framework are some key factors that are expected to hamper overall market growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Cardiology Segment To Register Rapid Revenue Growth:
The cardiology segment is expected to register rapid revenue growth during the forecast period owing to increasing prevalence of various types of cardiovascular diseases, rising demand for advanced occlusion devices, and growing awareness about early diagnosis and treatment.
Hospital Segment to Account for Largest Revenue Share:
The hospital segment is expected to account for largest revenue share during the forecast period owing to factors such as increasing number of hospitals across the globe, presence of highly skilled surgeons in many medium to large scale hospitals, rising availability of advanced occlusion devices, and increasing overall healthcare expenditure.
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North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to increasing prevalence of chronic diseases across the region, rising elderly population, and growing preference for minimally invasive surgical procedures. In addition, rapid adoption of advanced technologies, favorable reimbursement policies, and increasing investments in developing advanced devices are other factors expected to drive North America growth during the forecast period.
Major Companies in the Market Include:
- Boston Scientific
- Medtronic PLC
- Abbott Laboratories
- B. Braun Melsungen
- Stryker Corporation
- Acrostak AG
- Cook Group
- Terumo Corporation
- Cardinal Health
- Becton, Dickinson and Company
Emergen Research has segmented the global occlusion devices market on the basis of product type, application, end-users, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Occlusion Removal Devices
- Balloon Occlusion Devices
- Stent Retrievers
- Coil Retrievers
- Suction & Aspiration Devices
- Embolization Devices
- Embolic Coils
- Liquid Embolic Agents
- Tubal Occlusion Devices
- Support Devices
- Microcatheters
- Guidewires
Application Outlook (Revenue, USD Billion; 2017-2027)
- Neurology
- Cardiology
- Peripheral Vascular Diseases
- Urology
- Oncology
- Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Diagnostics Centers
- Ambulatory Surgical Centers
- Research Institutes
- Others
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Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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