According to IMARC Group’s latest research report, titled “Vascular Closure Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering vascular closure devices market overview, statistics size, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Vascular Closure Devices Market?
The global vascular closure devices market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What are Vascular Closure Devices?
Vascular closure devices (VCDs) are innovative medical tools designed to facilitate the closure of arterial or venous puncture sites following various diagnostic or interventional cardiovascular procedures. They are primarily utilized to achieve hemostasis, preventing excessive bleeding and minimizing the risk of complications associated with manual compression. VCDs are particularly advantageous in situations where manual compression may be challenging or impractical, such as in patients with coagulopathy, obesity, or arterial access sites located in challenging anatomical locations. They employ different mechanisms to achieve hemostasis. One common type is the passive closure device, which includes collagen plugs or sealants. Additionally, they work by promoting the formation of blood clots within the puncture site, effectively sealing off the vessel. Once the clotting process is complete, the body absorbs the plug or sealant, leaving behind a healed puncture site.
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What are the Growth Prospects and Trends in the Vascular Closure Devices Market?
The escalating healthcare expenditure majorly drives the global market. This can be supported by the increasing prevalence of conditions, such as heart disease, peripheral arterial disease, and aortic diseases. Along with this, the rising demand for catheterization and interventional procedures to diagnose and treat CVDs is significantly supporting the market. In addition, the escalating demand for femoral access to vascular procedures, including coronary angiography and other interventional techniques, is influencing the demand for non-invasive procedures. This, in confluence with the rising need for advanced surgical equipment in hospitals and surgical centers, is also positively influencing the market. Apart from this, the increasing emphasis placed by physicians on effective blood loss management during surgical procedures is contributing to the market. Furthermore, the introduction of large-bore vascular closure devices, evident in the growing number of registrations for innovative devices, is creating a positive market outlook.
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Who are the key Players Operating in the Industry?
Cardiva Medical Inc. (Haemonetics Corporation)
Cordis Corporation (Cardinal Health Inc.)
ENDOCOR GmbH & Co. KG
Merit Medical Systems Inc.
Morris Innovative Inc.
Terumo Medical Corporation (Terumo Corporation)
Transluminal Technologies LLC
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Sealant or Gel-Based Devices
External Hemostatic Devices
Interventional Radiology/Vascular Surgery
Ambulatory Surgical Centers
North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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