Factors such as the increasing prevalence of chronic diseases and the increasing therapeutics demand are estimated to drive the market growth during the forecast period. Additionally, advancements in diagnostic and treatment technologies boost the market. However, low awareness and lack of healthcare services in the middle and low-income countries are estimated to restrain the market growth during the projected period.
The Occlusion devices market is segmented on the basis of product, application, and end-user. On the basis of product, the market is segmented into embolization devices, occlusion removal devices, and support devices. The embolization devices market is sub-segmented into liquid embolic agents and tubal occlusion devices. Occlusion removal devices are sub-segmented into balloon occlusion devices, stent retrievers, coil retrievers, and suction and aspiration devices. The support devices market is sub-segmented into microcatheters and guidewires. On the basis of application, the market is segmented into neurology, cardiology, peripheral vascular diseases, urology, oncology, gynecology, and others. On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic centers, surgical centers, ambulatory care centers, and others.
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The Americas dominates the global occlusion devices market owing to the increasing prevalence of heart diseases and retinal diseases and the presence of a well-developed healthcare sector within the region. Moreover, the increasing healthcare expenditure and the presence of key players within regional boundaries provide a favorable background for the market growth.
Europe is the second largest in the global occlusion devices market. Factors such as the increasing availability of funds for research and a huge patient population followed by a well-developed healthcare sector drive the market within the region.
Asia Pacific is estimated to be the fastest growing market for occlusion devices. This can be attributed to the presence of developing economies such as India and China and the increasing patient population. Moreover, the increasing healthcare expenditure and a rapidly developing healthcare sector boost the market growth within the region.
On the other hand, the Middle East and Africa has the least share in the global occlusion devices market due to the low per capita healthcare expenditure and stringent government policies, especially within the African region. It is estimated that the Middle East holds a majority of the market within the Middle Eastern and African region.
Some of the key players in this market are Abbott Laboratories (U.S.), Acrostak, Angiodynamics, Asahi Intecc, Avinger, Cardinal Health, Cook Group, Edwards Lifesciences, Penumbra, Stryker Corporation, Terumo Corporation, B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), Medtronic plc (Ireland), MicroPort Scientific Corporation (China), Meril Life Sciences Pvt. Ltd. (India), Vascular Concepts (India), and Translumina GmbH (Germany), Boston Scientific Corporation (U.S.), Biosensors International Group, Ltd. (Singapore), Kyoto Medical Planning Co. Ltd. (Japan), Elixir Medical Corporation (U.S.), and others.
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