Occlusion Devices Market, By Application Type (Neurology, Oncology, Urology, Cardiology, Peripheral Vascular Diseases, Gynecology), By Type (Occlusion Removal Device, Embolization Devices, and Support Devices), By end-users (Research Laboratories & Academic Institutes, Ambulatory Care Centers, Hospitals, Diagnostic Centers, & Surgical Centers), and By Region (North America, Europe, APAC, and LAMEA)
Occlusion Devices Market Forecast from 2015 till 2025
Occlusion is the blockage of the blood vessels or any hollow organ and the occlusion devices are the equipment’s used to treat the blockage. There are different occlusion devices used to treat different defects such as cardiovascular, neurological, retinal, and others defects. Some occlusion devices used are Nit-Occlud PDA-R, Nit-Occlud PDA-R, Nit-Occlud PFO, and Nit-Occlud ASD-R.
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As per the American College of Cardiology, the chronic occlusion occurs in about one-fourth of people with coronary heart disease, it can cause chest pain, fatigue, breath shortness, and ischemia, which are the damages that results when tissues are deprived of oxygen.
The global occlusion devices market is mainly driven by the high prevalence of blockage and heart-related diseases and huge demand for diagnosis methods. The increasing accessibility of diagnostic services for various chronic diseases could also boost the growth of the market.
Many private and government insurance organizations present in developed countries such as U.S, Canada, Germany, and others are also indirectly helping the market to develop and grow. For instance, over 50 top private insurance companies such as UnitedHealth Group, WellPoint Inc. Group are present in the U.S, which provides reimbursement policies covering more than 75% of the cost of the devices and treatment. This is expected to be a major contributor to the market.
Occlusive peripheral arterial disease is quite common among older people because it often results from atherosclerosis, which becomes more common with aging. Rising count of number of people with diabetes, high blood pressure, abnormal cholesterol levels, or high blood homocysteine levels, people who have ever smoked regularly and people having a family history of atherosclerosis, these factors are likely to fuel the market growth.
The alternative treatment methods or substitutes available for chronic diseases and the limited adoption rate in the emerging economies might hamper the future market growth.
• Occlusion Removal Devices
The occlusion removal devices are further classified as:
• Balloon Occlusion Devices
• Stent Retrievers
• Coil Retrievers
• Suction & Aspiration Devices
• Embolization Devices
• Embolic Coils
• Liquid Embolic Agents
• Tubal Occlusion Devices
• Support Devices
• Peripheral Vascular Diseases
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• Research Laboratories & Academic Institutes
• Ambulatory Care Centers
• Hospitals, Diagnostic Centers, & Surgical Centers
Geographically, the global occlusion devices market is divided into North America, Europe, Asia Pacific, and Latin America, Middle East and Africa. North America is attributed to have the significant share in the market with countries like U.S and Canada, owing to the presence of well-equipped advanced technology and global market leaders such as Avinger, Boston Scientific Corporation, and Atricure. Europe market is expected to share the same potential. According to European Society of Cardiology, presently, around 26 million people are suffering from heart failure across the world. As the number of patients is rising, the expenditure and demand for healthcare services is also accelerating drastically.
Rising population of people suffering from diabetes, high blood pressure, abnormal cholesterol levels, or high blood homocysteine levels, obesity and other diseases are likely to fuel the market growth. In emerging countries such as India, China, Pakistan, Japan and others is attributed to give an edge to the market growth. An upsurge in the prevalence of neurovascular diseases in several countries across Asia Pacific is attributed to boost the occlusion devices market. LAMEA market is also attributed to grow in the upcoming years with the emerging countries.
The global key manufacturers of occlusion devices market are:
• Abbott. (U.S)
• Avinger (U.S)
• Boston Scientific Corporation. (U.S)
• Atricure (U.S)
• W.L Gore & Associates, Inc. (U.S)
• Terumo Corporation (Japan)
• B. Braun Melsungen AG (Germany)
• Asahi Intecc Co., Ltd (Japan)
• C. R. Bard, Inc (U.S)
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