Vancouver, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The global occlusion devices market is projected to be worth USD 5,588.20 Million by 2032, according to a current analysis by Emergen Research. The occlusion devices market is observing high demand attributed to the rising incidence of cardiovascular diseases. According to the Heart Disease and Stroke Statistics published by the American Health Association in 2016, 15.5 million individuals in the US suffer from coronary heart disease, with the prevalence of the disease increasing with age in both men and women. Balloon occlusion devices finds usage in the prevention of pericardial tamponade by lowering the blood loss and ameliorating consequent myocardial ischemia injury.
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Increasing research & development activities by research and academic institutes worldwide play an instrumental role in boost the growth of the occlusion devices market. For instance, In Feb 2020, an occlusion devise based on Nitinol was developed by the Sree Chitra Thirunal Institute of Medical Science and Technology for atrial septal defect non-surgical closure.
Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 2,952.3 million |
| CAGR (2023 - 2032) | 5.0% |
| Revenue forecast in 2032 | USD 5,588.20 million |
| Base year for estimation | 2019 |
| Historical data | 2016 - 2018 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD Millions, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, application, end-users, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Boston Scientific, Medtronic PLC, Abbott Laboratories, B. Braun Melsungen, Stryker Corporation, Acrostak AG, Cook Group, Terumo Corporation, Cardinal Health, and Becton, Dickinson, and Company |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The leading players in the occlusion devices market are equipped with enhanced production facilities and are involved in various R&D activities. A few leading players in the occlusion devices 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
Strategic Development
In July 2019, Orchestra BioMed Inc. made an announcement about the signing of a strategic collaboration agreement with Terumo Corporation to develop and commercialize the Virtue Sirolimus-Eluting Balloon.
Some Key Highlights from the Report
- In February 2020, BD Peripheral Intervention, Inc. made an announcement about the receiving of FDA approval for the Caterpillar arterial and micro arterial embolization devices.
- Liquid embolic agents are likely to grow at a significant rate in the forecast period, due to its various benefits comprising deep penetration capability into the AVM nidus, permanent embolization using durable pedicle/vessel obliteration, and the potential to be administered via small, flow-directed, and flexible catheters with atraumatic and safe manipulations into the most distal vasculature places.
- The application of occlusion devices in oncology is gaining substantial momentum in the market. Processes, such as embolization prevents blood flow to a tumor, decreasing blood loss at the time of surgery. A secondary advantage of this procedure involves easy identification of tumor margins and then removing the tumor with minimal effort.
- The occlusion devices market in the North American region, led by the US, held the largest share in 2019, attributed to the rising incidence of chronic amongst the regional population, increasing healthcare expenses, and growing population of the elderly people. Also, the presence of leading market players in the region and growing cognizance about the perils of chronic diseases drive market growth.
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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; 2023-2032)
- 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
- Occlusion Removal Devices
- Application Outlook (Revenue, USD Billion; 2023-2032)
- Neurology
- Cardiology
- Peripheral Vascular Diseases
- Urology
- Oncology
- Others
- End Users Outlook (Revenue, USD Billion; 2023-2032)
- Hospitals
- Diagnostics Centers
- Ambulatory Surgical Centers
- Research Institutes
- Others
- Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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