Occlusion devices are majorly used in the atrial fibrillation condition having thromboembolic. Occlusion devices are used in different applications like the ventricular septal defect, atrial septal defect, and the patent ductus arteriosus.
Growing chronic diseases such as respiratory diseases and diabetes leads to increasing prevalence of cardiovascular diseases across the world. Apart from these, rise in population of obese, and geriatric population is lead to blockage of artery and insufficient supply of the blood to the body is supporting the growth of the market.
The Global occlusion devices market is segmented by product, application, and end users.
Based on product type, the market is segmented into occlusion balloon, stent retriever, suction device, coil embolization, and liquid embolic. Occlusion balloon is expected to hold a major market share due to the high prevalence of heart diseases.
On the basis of application, the market is segmented into cardiology, neurology, peripheral vascular, urology, oncology, and gynecology. Neurology is anticipated to the leading segment during the forecast period.
Based on the end users, the market is segmented into hospitals, diagnostic centers, & surgical centers, ambulatory care centers and research laboratories & academic institutes. Diagnostic centers are expected to be the leading segment during forecast period.
The geographically, the global occlusion devices market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America is expected to hold the major market share due to the huge presence of baby boomer population suffering from neurological disorders.
Europe accounts for a significant share of the global biodegradable stents market. Increasing prevalence of coronary artery diseases such as ischemic heart disease, angina, unstable angina, myocardial infarction, and sudden cardiac death is expected to propel the market growth. According to the British Heart Foundation (BHF), during 2014-2016, over 66,000 died due to coronary Heart disease in the U.K.
Asia-Pacific is expected to be fastest growing market during the forecast period 2019–2026. Increasing geriatric population, chronic diseases, and obesity are some of the factors supporting the market growth in the region.
LAMEA is expected to witness considerable growth in the global market during the forecast period 2019–2026. The significant growth is attributed to the increasing prevalence of cardiovascular diseases, increasing awareness about health and high disposable income in the Middle East countries such as UAE, Saudi Arabia, and Kuwait are projected to support the market growth.
Some of the major players in the occlusion devices market include Acrostak, Abbott Laboratories, Asahi Intecc, Angiodynamics, Avinger, Terumo Corporation, Edwards Lifesciences, Cardinal Health, Cook Group, Stryker Corporation, MicroPort Scientific Corporation, Meril Life Sciences Pvt. Ltd., Scientific Corporation, Penumbra, Biosensors International Group, Ltd., B. Braun Melsungen AG, Medtronic Plc., Boston Elixir Medical Corporation, and Kyoto Medical Planning Co. Ltd.