The occlusion devices market was valued at US$ 8.90 billion in 2023 to US$ 31.71 billion by 2031; it is estimated to register a CAGR of 17.2% from 2023 to 2031.

Key factors driving the market growth are the growing incidences of cardiovascular diseases (CVDs) and rising adoption of minimally invasive techniques in interventional procedures propel the occlusion devices market growth. However, the growing number of product recalls hamper the growth of the market.

Market Trends of the Occlusion devices Market:

Developments in minimally invasive surgical (MIS) techniques, such as endoscopic and mitral valve surgeries, have modernized arterial occlusion treatments. A minimally invasive mitral valve surgery (MIMVS) is suitable for high-risk patients who may not be eligible for open surgeries. As per an article published in the Journal of Thoracic Disease (JTD) in February 2021, a retrospective analysis was conducted to propose a reproducible, effective, and safe method for mitral valve surgery using an intra-aortic occlusion device. The study establishes minimally invasive mitral valve surgery using an intra-aortic occlusion device as a well-established alternative to the conventional surgical approach. The prominent benefits of a minimally invasive approach include less surgical trauma, better pain control, and reduced duration of ICU stays. Further, developments in materials and design support the research pertaining to stronger and biocompatible occlusion devices, which produce improved patient outcomes and reduce the risk of complications. According to an article published in ScienceDirect in July 2021, novel occlusion devices, including biodegradable and 3D-printed occlusion devices, are being developed as next-generation alternatives to traditional Nitinol-based occlusion devices due to their biodegradability, customization, and improved biocompatibility. Therefore, biodegradable, biocompatible, and customizable devices are anticipated to bring new occlusion devices market trends in the coming years.

Occlusion devices Market: Segmental Overview

The occlusion devices market is segmented on the basis of product, application, and end user.

By product, the market is segmented into occlusion removal devices, embolization devices, and support devices. The occlusion removal devices segment is further categorized into stent retrievers, coil retrievers, balloon occlusion devices, and suction & aspiration devices. The support devices segment is further bifurcated into microcatheters and guidewires. The occlusion removal devices segment held the largest occlusion devices market share in 2023.

The market, by application, is categorized into neurology, cardiology, peripheral vascular diseases, urology, oncology, and gynecology. The neurology segment held the largest market share in 2023. Implantation of occlusion devices has become a widely accepted for occluding abnormal blood/thrombus flow within the heart owing to its high effectiveness and less invasive procedure. It is anticipated to register the highest CAGR from 2023 to 2031.

The market, by end user, is segmented into hospitals, diagnostic centers, & surgical centers, ambulatory care centers, and research laboratories & academic institutes. The hospitals segment held the largest occlusion devices market share in 2023, and it is anticipated to register the highest CAGR from 2023 to 2031. Key factors, including the rising adoption of minimally invasive surgical procedures and the availability of reimbursements for targeted procedures and diagnoses in developed countries, are driving the growth of the segment.

Occlusion devices Market: Geographical Overview

The scope of the occlusion devices market report entails North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America. In terms of revenue, North America held the largest occlusion devices market share in 2023. The surging prevalence and incidence of cardiovascular diseases is a major factor fueling the growth of the market. The growing preference for minimally invasive surgeries, availability of better healthcare infrastructure, and the rising number of new occlusion device approvals are the factors bolstering the overall growth of the market. In November 2020, Abbott Laboratories received FDA approval for its Amplatzer Piccolo Occluder, which is the world's first medical device that can be implanted in babies using a minimally invasive procedure to treat patent ductus arteriosus. Therefore, contributions and market initiatives of the key players such as Abbott, Johnson & Johnson, and MicroPort Scientific Corporation are positively influencing the occlusion devices market growth in North America.