Occlusion Devices Market to Surge from USD 4.0 Billion in 2024 to USD 6.5 Billion by 2033 at a CAGR of 5.5%: Dimension Market Research

New York, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Market Overview

The global occlusion devices market is projected to reach USD 4.0 billion by 2024 and grow to USD 6.5 billion by 2033, at a CAGR of 5.5%.

Occlusion devices, which block blood vessels or body passages through minimally invasive methods, are used to treat conditions like aneurysms, congenital heart defects, and varicose veins. These devices, including embolization coils, plugs, and balloons, offer alternatives to open surgery, improving patient outcomes and reducing recovery times. The market is expanding due to rising cases of cardiovascular, neurovascular, and congenital heart diseases, with major players introducing innovative products.

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 The US Occlusion Devices Market

In the U.S., the occlusion devices market is expected to reach USD 1.2 billion by 2024 and grow to USD 1.8 billion by 2033, with a CAGR of 5.2%. This growth is driven by an aging population, increasing rates of cardiovascular and vascular disorders, and a trend toward personalized, minimally invasive treatments that enhance patient recovery.

Important Insights

• Market Growth: The global occlusion devices market is forecasted to grow by $2.3 billion, at a CAGR of 5.5%, from 2025 to 2033.
• Product Analysis: Occlusion removal devices are anticipated to dominate the market, capturing the largest share in 2024.
• Application Analysis: The neurology sector is expected to lead the market, holding a 27.1% revenue share in 2024.
• End User Analysis: Hospitals, diagnostic, and surgical centers are projected to hold a 36.0% share of the occlusion devices market in 2024.
• Regional Analysis: North America is forecasted to be the global leader in the occlusion devices market, with a 34.5% market share by 2024.

Latest Trends

• Rising Popularity of Bioresorbable Devices: Bioresorbable occlusion devices, which dissolve naturally in the body, are gaining traction due to benefits like reduced risk of long-term complications and improved patient comfort.
• Advancement in Digital Integration: The use of advanced imaging technologies, such as MRI and CT scans, is becoming common with occlusion devices, improving procedural accuracy.

Competitive Landscape

• Key Market Players: The occlusion devices market includes major companies like Medtronic plc, Johnson & Johnson, and Stryker Corporation.
• Strategic Initiatives: These companies focus on developing new products, forming partnerships, pursuing mergers and acquisitions, and expanding into new regions.
• Investment in R&D: Significant investment in research and development is made to introduce innovative and advanced occlusion devices.
• Regulatory Compliance: Obtaining regulatory approvals is crucial for meeting quality and safety standards and maintaining market competition.

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Some of the prominent market players:

• Medtronic plc
• Boston Scientific Corporation
• Abbott Laboratories
• Terumo Corporation
• Johnson & Johnson
• Stryker Corporation
• Cook Medical Inc.
• Cardinal Health, Inc.
• Penumbra, Inc.
• MicroPort Scientific Corporation
• Penumbra, Inc.
• Other Key Players

Occlusion Devices Market Scope

Drivers

• Growing Disease Incidence: Increasing rates of cardiovascular, neurovascular, and peripheral vascular diseases are driving demand for occlusion devices to manage these conditions effectively.
• Need for Effective Solutions: Occlusion devices are essential for restoring proper blood flow and preventing complications associated with these diseases.

Restraints

• High Device Costs: Occlusion devices, especially those for cardiovascular or minimally invasive procedures, are costly, which can limit their use in areas with financial constraints or tight healthcare budgets.
• Regulatory Challenges: The development and commercialization of occlusion devices face stringent regulatory approval processes, which can delay market entry.

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Opportunities

• Increased R&D Investment: Companies in the occlusion devices market are significantly investing in research and development to create innovative solutions and enhance existing technologies.
• Advances in Customization: Innovations in materials science and patient-specific data analysis are enabling the creation of occlusion devices that are precisely suited to each patient's unique conditions.

Market Analysis

Neurology is expected to lead the global occlusion devices market, accounting for 27.1% of revenue by 2024. This growth is driven by the increasing number of neurosurgical procedures in developed countries and ongoing research in interventional neurology. Major manufacturers’ enhanced research capabilities and favorable reimbursement policies for neurovascular surgeries also contribute to this expansion. Occlusion devices play a vital role in treating neurovascular conditions like strokes, which are a major cause of death & long-term disability worldwide. The rising incidence of such disorders has increased demand for devices like stents & coil retrievers, essential in mechanical thrombectomy to remove clots and restore brain blood flow.

Occlusion Devices Market Segmentation

By Product

• 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

 By Application

• Neurology
• Cardiology
• Peripheral Vascular Diseases
• Urology
• Oncology
• Gynecology

By End User

• Hospitals, Diagnostic Centers, & Surgical Centers
• Ambulatory Care Centers
• Research Laboratories & Academic Institutes
• Others

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Regional Analysis

North America is projected to lead the occlusion devices market with 34.5% revenue share by 2024, due to supportive reimbursement policies for minimally invasive surgeries in developed nations that lower patient costs while encouraging the use of advanced technologies. Chronic conditions like cardiovascular and neurovascular diseases have increased the adoption of occlusion devices within this region due to their advanced removal/embolization technologies offering effective treatment solutions - while increased healthcare spending enabled hospitals to implement such devices into hospital practices.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

Recent Developments

• In June 2024, Front Line Medical Technologies Inc. announced that its Control of Bleeding, Resuscitation, and Arterial Occlusion System received CE Mark approval under the new European Medical Device Regulations. This device is designed for use in resuscitative endovascular balloon occlusion of the aorta (REBOA) procedures.
• In January 2024, Occlutech Holding AG received FDA approval for its Occlutech ASD occluder and Pistol Pusher, which are used to treat atrial septal defects. The company immediately began commercialization in the U.S. through an exclusive partnership with B. Braun Interventional Systems Inc.
• On June 5, 2023, Conformal Medical Inc., developer of a left atrial appendage occlusion system, successfully closed a Series D funding round, raising $35 million. The round was led by SPRIG Equity, with all major Series C investors also participating.
• In November 2023, PMcardio launched Queen of Hearts, an AI-powered medical device that marks a significant breakthrough in detecting and treating acute obstructive heart attacks, known as Acute Occlusion Myocardial Infarction (OMI). With 50 million patients globally visiting emergency departments for chest pain annually, the current standard of care often misdiagnoses and delays treatment in 50% of OMI cases, which require urgent intervention.

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