Vascular Closure Devices Market 2023-2028: Global Size, Share, Top Manufacturers, Growth Rate, and Forecast

Vascular Closure Devices Market

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?

Abbott Laboratories
Cardiva Medical Inc. (Haemonetics Corporation)
Cordis Corporation (Cardinal Health Inc.)
Merit Medical Systems Inc.
Morris Innovative Inc.
Teleflex Incorporated
Terumo Medical Corporation (Terumo Corporation)
Transluminal Technologies LLC
Vasorum Ltd.

What is included in Market Segmentation?

The report has segmented the market into the following categories:

Product Insights:

Passive Approximators
Collagen Plugs
Sealant or Gel-Based Devices
Compression-Assist Devices
Active Approximators
Suture-Based Devices
Clip-Based Devices
External Hemostatic Devices

Access Insights:

Femoral Access
Radial Access

Procedure Insights:

Interventional Cardiology
Interventional Radiology/Vascular Surgery

End-User Insights:

Ambulatory Surgical Centers

Regional Insights:

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:

Market Performance 
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
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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Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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