Global Vascular Closure Devices Market Size By Type (Passive Approximators, Active Approximators), By Access (Femoral Access, Radial Access), By End User (Hospitals, Clinics), By Geographic Scope And Forecast

Vascular Closure Devices Market Size And Forecast

Vascular Closure Devices Market size was valued at USD 935.58 Million in 2022 and is projected to reach USD 1691.32 Million by 2030, growing at a CAGR of 6.80% from 2023 to 2030.

The improvement in medical technologies has changed the framework of cardiovascular procedures by developing Vascular Closure Devices. VCDs reduce the time needed for hemostasis and tackle the problem, improving patient comfort, and bolstering market growth prospects. The drivers for the market are the high preponderance of cardiovascular diseases, the high preponderance of obesity, and increasing the focus of market players on vascular closure devices. The Global Vascular Closure Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Vascular Closure Devices Market Definition

Vascular closure devices quickly stop and reduce puncture site complications. Its collagen of albuminoidal or suture is accustomed to seal the opening of an artery in surgery, coronary excision, and placement of a stent. The device has no facet effects on the patient’s body. Vascular closure devices make patients easier than manual compression.

The emergence of COVID-19 has wedged the procedural volume of the many vessel treatments throughout the initial period of the plague. High risk of coronavirus infection throughout such procedures with increasing hospitalizations of COVID-19 patients resulted in procedure deferral. However, with standard operational protocols and a reducing range of patients in some countries, the industry will show continuing growth.

Global Vascular Closure Devices Market Overview

Increasing expenditure on healthcare infrastructure development, especially within the developing economies, are the many factors due to the expansion of the Vascular Closure Devices Market. Angiogram leaves a puncture within the arteries, and this is often where vascular closure devices inherit play. This device is used to seal punctured arteries. The vascular closure devices do not have any side effects on the body of the patients. The rising prevalence of cardiovascular diseases among the population is one of the main factors that help expand the Vascular Closure Devices Market. As femoral arteries are relatively less prone to spasms than radial and permit large catheters, the segment will observe remarkable growth.

However, some complications associated with femoral access-site such as arteriovenous fistula, pseudoaneurysm, and arterial dissection limit acceptance to a certain extent. The increasing focus of market players on devices and increases in personal income are the factors that will increase the opportunities for Vascular Closure Devices Market growth. The rising hefty population will also carve the way for market growth. However, high costs are the restraints in the development of the market. The absence of highly skilled professionals and surging failures and recalls of the product will pose challenges for the market.

Global Vascular Closure Devices MarketSegmentation Analysis

The Global Vascular Closure Devices Market is Segmented on the basis of Type, Access, End User, And Geography.

Vascular Closure Devices Market, By Type

• Passive Approximators
• Active Approximators
• External Hemostatic Devices

Based on Type, The market is segmented into Passive Approximators, Active Approximators, and External Hemostatic Devices. The Active approximators hold the largest share of their high efficiency. Also, many companies are focusing on this segment to release new products that can work on it. An active approximator that seals femoral punctures during cardiac catheterization is holding the market of vascular closure devices. Passive approximators are the fastest-growing segment as they keep positive and quick hemostasis of vascular access sites. An increase in the number of products is expected to boost revenue generation for passive approximators for the Vascular Closure Devices Market in the coming future.

Vascular Closure Devices Market, By Access

• Femoral Access
• Radial Access

Based on Access, the market is segmented into Femoral Access and Radial Access. Femoral Access holds an enormous share in the market. Due to the widespread preference for this access route among cardiologists and physicians during interventional procedures, there are fewer complications involved in arterial Access. This segment involves interventional cardiology and interventional radiology/vascular surgery in the market includes. The interventional cardiology segment is predicted to carry the most crucial share attributes to the high prevalence of cardiovascular diseases, therefore the increasing obese population worldwide.

Vascular Closure Devices Market, By End User

• Acute Care Facilities
• Hospitals
• Clinics
• Others

Based on End User, the market is segmented into Acute Care Facilities, Hospitals, Clinics, and Others. Acute care facilities hold the largest share and revenue in the market. An increase in circumstances of cardiovascular diseases that need immediate treatment has increased the popularity of vascular closure devices in acute care treatment. Either, the rising use of imaging technologies, like echocardiography, in acute care for cardiovascular diseases also drives growth. Hospitals and clinics are anticipating substantial growth in boosting the popularity of vascular closure devices to reduce the need for open-heart surgical procedures, fueling demand for this technology worldwide.

Vascular Closure Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Vascular Closure Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is at the top, holding a large number of shares in the global market. Factors attributed to this largest share include a developed healthcare framework and key players operating in this region. Moreover, increasing cardiovascular disease incidents in the U.S are expected to penetrate vascular closure devices in the area. However, Asia Pacific is also likely to see the fastest growth due to the emerging economies of China and India. Key players from different areas are enhancing their products to gain entry into developing countries, propelling growth in the Vascular Closure Devices Market.

Key Players

The “Global Vascular Closure Devices Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Abbott Laboratories, Medtronic Plc, Transluminal Technologies LLC, Cardinal Health, Inc., Vascular Closure Systems, Inc., Vivasure Medical Ltd., Vasorum Ltd., Morris Innovative Inc., Cardiva Medical, Inc., Terumo Corporation, and Essential Medical, Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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