Occlusion Devices Market Analysis

1. What is the Market Size & CAGR of Occlusion Devices market in 2021?

The global occlusion devices market is projected to have a Compound Annual Growth Rate (CAGR) of 5.2% from 2021 to 2026. In 2021, the market size was estimated to be USD 2.5 billion.

2. COVID-19 Impact on the Occlusion Devices Market

The occlusion devices market experienced a slight slowdown due to the COVID-19 pandemic in 2020; however, as healthcare services resumed in 2021, the market showed steady growth.

3. Occlusion Devices Dynamics

The occlusion devices market is driven by factors such as the increasing prevalence of cardiovascular diseases, technological advancements in device development, and growing demand for minimally invasive procedures.

4. Segments and Related Analysis

4.1. By Device Type:

- Stents: This segment is expected to dominate the market due to the high demand for coronary stents in the treatment of heart diseases.

- Balloons: The balloons segment is projected to witness significant growth attributed to their use in angioplasty procedures.

4.2. By Application:

- Coronary Artery Disease: The coronary artery disease segment is anticipated to account for the largest market share owing to the high prevalence of this condition.

- Peripheral Artery Disease: The market for occlusion devices in peripheral artery disease is expected to grow due to the rising cases of vascular disorders.

5. By Region Analysis

- North America: The North American market is projected to lead the global occlusion devices market due to the presence of key market players and advanced healthcare infrastructure.

- Europe: Europe is expected to hold a significant market share driven by the increasing adoption of minimally invasive procedures.

- Asia Pacific: The Asia Pacific region is anticipated to witness rapid growth attributed to the rising healthcare investments and growing elderly population.

6. Key Market Players and Competitive Landscape

Some of the key market players in the occlusion devices market include Medtronic, Abbott Laboratories, Terumo Corporation, Boston Scientific Corporation, and Cook Medical.

7. Recent happenings in the Occlusion Devices Market

- In March 2022, Medtronic announced the launch of a new range of occlusion devices for the treatment of peripheral artery diseases.

- Abbott Laboratories introduced a novel stent technology for coronary artery disease treatment in April 2022.