Global Vascular Closure Device Market by Product (Clip-Based Devices, Gel-Based Devices, Passive Approximators, Collagen Plugs, Active Approximators, Suture-Based Devices) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The increasing popularity for femoral arterial catheterization is expected increase the market for VCDs.

Global Vascular Closure Devices (VCDs), market value was USD over 1.0 Billion in 2015. VCDs have revolutionized the world of cardiovascular procedures due to their constant advancements in medical technology. The invention of vascular closure devices addresses the problems associated with vascular access sites, which are the main cause of morbidity after catheterization procedures. VCDs can also be used to reduce hemostasis time and increase patient comfort. This has helped boost market growth prospects.

This market has seen opportunities created by the shift in medical facilities towards minimally invasive procedures and the use of radiotherapy and imaging technologies. The demand for heart surgery will rise due to the increased use of imaging technology to monitor cardiac function. This will in turn increase sales and demand for VCDs over the forecast period.

This industry is experiencing a boom due to rising incidences of cardiovascular disease. According to the American Heart Association (AHA), cardiovascular disease is the leading cause of death worldwide, causing 17.3 million deaths each year. This is a sign of the importance of developing heart-related surgery.

The market will see a surge in demand due to physicians' increasing use of PCI (percutaneous coronary intervention) to treat narrowed coronary vessels (caused by chronic heart disease). PCI is the insertion of a catheter. This can cause vascular injuries. VCDs are in high demand. The growth forecast is affected by VCD complications, including risk of leg ischemia or groin infections.

Due to their high efficiency rate and broad product range, active approximators dominated VCD industry

Due to their efficiency, active approximators held the largest share of 2015's market. Many companies are also focusing their efforts on this market to release new products. Essential Medical, Inc. recently developed MANTA, an active approach that seals femoral punctures during cardiac catheterization.

Because they offer reliable and rapid hemostasis at vascular access points, passive approximators are among the fastest-growing segments. The forecast period will see an increase in the number of passive approximator-related products, including Angio-Seal and X-Seal.

The largest market share for vascular closure devices worldwide was held by acute care facilities. They are expected to continue their dominance.

Acute care facilities, hospitals, clinics, and other healthcare providers are the end-users for this technology. Acute care facilities accounted for the largest portion of revenue. VCDs are becoming more popular in acute care because of the increasing incidence of heart disease that requires immediate treatment. Growth is also driven by the increasing use of imaging technologies such as echocardiography in acute care for heart disease.

VCDs, which can be used to reduce the need to open-heart surgery, are expected to see a significant increase in hospital and clinic growth over the next seven years. This is fueling demand worldwide for VCDs.

North America has the largest revenue share in global vascular closing device market for 2015

North America held the largest share, with 33% of the total in 2015. This is due to the region's developed healthcare system and the presence of key players. VCDs will be more widely used in this region due to rising incidences of cardiovascular disease in the U.S.

Asia Pacific will see the fastest growth over the next seven years, thanks to India and China's emerging economies. Industry players have paid attention to the potential growth factors in this region, such as untapped areas and unmet patient needs. To gain access to untapped areas, key players from different regions are expanding their product lines. This helps propels regional growth.

Market players are developing new devices to allow the safe and effective closure of large-caliber arteriotomies.

Merit Medical Systems, Inc., Abbott Vascular, Biotronik GMBH & CO.KG, COOK; Medtronic, Boston Scientific Corporation, C. R. Bard, Inc., ESSENTIAL MEDICAL, Inc., Cardinal Health; W L. Gore & Associates, ST. JUDE MEDICAL, TZ Medical, Inc., Cardival Medical, Inc., and Scion BioMedical are some of the major players. To gain an edge in the market for vascular closure devices, these market players have introduced novel VCDs. These entities also plan to take other strategic initiatives to improve their industry position over the next few years.

Medtronic, for example, released the VenaSeal closure in the U.S. in November 2015. The FDA approved this product through the Pre-market Approval process. This is the first FDA-approved non-sclerosant procedure to treat symptoms of venous reflux in the U.S. Medtronic's success is expected to increase its revenue generation, which will in turn boost its presence during the forecast period.

C. R. Bard, Inc. also announced in August 2013 the acquisition Medafor, Inc. Medafor, Inc. is a leader in developing and supplying plant-based hemostatic agent. The acquisition will help to strengthen the company's portfolio of vascular closure devices for hospitals and clinics. This will also generate revenue.

Vascular Closure Device Market Report Scope

These are the most frequently asked questions about this report

b. Global Vascular Closure Device Market Size was valued at USD 1.1 Billion in 2019, and is forecast to grow to USD 1.2 Billion by 2020.

b. Global Vascular Closure Device Market is expected to grow at 2.6% compound annual growth rate between 2019 and 2024, reaching USD 1.3 billion in 2024.

b. With a 92% share in 2019, Active Approximators dominated Vascular Closure Device Market. These devices are efficient and reduce the time required to ambulate.

b. b.

b. Market growth is being driven by the growing popularity of femoral arterial cardiac catheterization, and high success rate for vascular closure devices (VCDs), which provide improved patient comfort and reduce hemostasis times.

Up Market Research published a new report titled “Vascular Closure Device Market research report which is segmented by Product (Clip-Based Devices, Gel-Based Devices, Passive Approximators, Collagen Plugs, Active Approximators, Suture-Based Devices), By Players/Companies Inc; ESSENTIAL MEDICAL, Inc; Abbott Vascular; Biotronik GMBH & COKG; COOK; Medtronic; Boston Scientific Corporation; C R Bard, Inc; Cardinal Health; W L Gore & Associates; ST JUDE MEDICAL; TZ Medical, Inc; Cardival Medical, Merit Medical Systems, Inc; and Scion BioMedical”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Vascular Closure Device Market Report Segments:

The market is segmented by Product (Clip-Based Devices, Gel-Based Devices, Passive Approximators, Collagen Plugs, Active Approximators, Suture-Based Devices).

Vascular Closure Device Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Vascular Closure Device Market

Overview of the regional outlook of the Vascular Closure Device Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Vascular Closure Device Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Vascular Closure Device Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Clip-Based Devices

                2. Gel-Based Devices

                3. Passive Approximators

                4. Collagen Plugs

                5. Active Approximators

                6. Suture-Based Devices

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Vascular Closure Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Vascular Closure Device Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.