Rising prevalence of CVD (Cardiovascular Diseases) and obesity, coupled with increasing focus of major players on development of large-bore vascular closure devices (VCDs) are key factors driving market revenue growth.
Market Size - USD 844.6 Million in 2020, Market Growth - CAGR of 6.8%, Market Trends - Rising number of approvals for these devices, and constant focus of key players on R&D of advanced products.
The global vascular closure devices market size is expected to reach USD 1,435.9 Million in 2028, and register a CAGR of 6.8% during the forecast period. Rising number of cardiac surgical procedures, shifting preference for minimally invasive surgeries, decreasing rate of vascular surgical complications after use of vascular closure devices (VCDs), increasing catheterization-related procedures, presence of favorable reimbursement scenarios for diagnostics and treatment procedures, ease-of-use and faster hemostatic properties offered by VCDs, and better comfort offered to patients are some of the major factors expected to drive growth of the global vascular closure devices market.
In addition, VCDs offer various benefits over manual compressions such as patient easiness, reduced ambulation period, clotting time, effective and well-tolerated in surgical procedures, which is another major factor supporting adoption rate of vascular closure devices, thereby driving market growth.
However, safety of using vascular closure devices is uncertain, and could raise possible risks of leg ischemia and infections. These are major factors that could result in lower adoption rate, thereby hampering market growth to some extent.
Some Key Findings From the Report:
For the purpose of this report, the global vascular closure devices market is segmented on the basis of type, access, procedure, and region:
Type Outlook (Revenue, USD Million; 2018 - 2028)
Access Outlook (Revenue, USD Million; 2018 - 2028)
Procedure Type Outlook (Revenue, USD Million; 2018 - 2028)
Region Outlook (Revenue, USD Million; 2018 - 2028)
Reasons to Buy the Report
Market Size - USD 844.6 Million in 2020, Market Growth - CAGR of 6.8%, Market Trends - Rising number of approvals for these devices, and constant focus of key players on R&D of advanced products.
The global vascular closure devices market size is expected to reach USD 1,435.9 Million in 2028, and register a CAGR of 6.8% during the forecast period. Rising number of cardiac surgical procedures, shifting preference for minimally invasive surgeries, decreasing rate of vascular surgical complications after use of vascular closure devices (VCDs), increasing catheterization-related procedures, presence of favorable reimbursement scenarios for diagnostics and treatment procedures, ease-of-use and faster hemostatic properties offered by VCDs, and better comfort offered to patients are some of the major factors expected to drive growth of the global vascular closure devices market.
In addition, VCDs offer various benefits over manual compressions such as patient easiness, reduced ambulation period, clotting time, effective and well-tolerated in surgical procedures, which is another major factor supporting adoption rate of vascular closure devices, thereby driving market growth.
However, safety of using vascular closure devices is uncertain, and could raise possible risks of leg ischemia and infections. These are major factors that could result in lower adoption rate, thereby hampering market growth to some extent.
Some Key Findings From the Report:
- Among the product type segments, the passive approximators segment accounted for the largest revenue share of 59.3% in 2020. This can be attributed to a large number of approvals for vascular closure devices and the high prevalence of cardiovascular disease and obesity.
- Among the access segments, the femoral segment accounted for major revenue share in 2020.
- North America market is expected to dominate in the global market during the forecast period, followed by Europe market in terms of revenue share.
- In 2020, the Asia Pacific market size was USD 194.3 Million, due to rising prevalence of cardiovascular diseases (CVD) and obesity owing to changing lifestyles, unhealthy eating habits, and no time and focus on fitness and wellness because of hectic work schedules.
- Key players profiled in the report include Tz Medical, Inc., Vasorum Ltd, Inseal Medical Ltd., Morris Innovative Inc., Essential Medical Inc., Arstasis Inc., Tricol Medical Inc., Marine Polymer Technologies, Hemostasis LLC, and Chitogen Inc. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global vascular closure devices market is segmented on the basis of type, access, procedure, and region:
Type Outlook (Revenue, USD Million; 2018 - 2028)
- Active Approximators
- Suture Based Devices
- Clip-Based Devices
- Passive Approximators
- Collagen Plugs
- Sealant Or Gel-Based Devices
- Compression Assist Devices
- External Hemostasis Devices
Access Outlook (Revenue, USD Million; 2018 - 2028)
- Femoral
- Radial
Procedure Type Outlook (Revenue, USD Million; 2018 - 2028)
- Interventional Cardiology
- Interventional Radiology/Vascular Surgery
Region Outlook (Revenue, USD Million; 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Vascular Closure Devices Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Vascular Closure Devices Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Vascular Closure Devices Segmentation & Impact Analysis
Chapter 5. Vascular Closure Devices Market By Type Insights & Trends
Chapter 6. Vascular Closure Devices Market By Access Type Insights & Trends
Chapter 7. Vascular Closure Devices Market By Procedure Type Insights & Trends
Chapter 8. Vascular Closure Devices Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Tz Medical Inc
- Vasorum Ltd
- Inseal Medical Ltd.
- Morris Innovative Inc.
- Essential Medical Inc.
- Arstasis Inc.
- Tricol Medical Inc.
- Marine Polymer Technologies
- Hemostasis LLC
- Chitogen Inc.
