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Vascular Closure Devices Market Trends, Industry & Size 2031

Global Vascular Closure Devices Market

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Segments - by Types (Passive Approximators, Active Approximators, and External Hemostatic Devices), Access (Femoral Access and Radial Access), Procedures (Interventional Cardiology and Interventional Radiology/Vascular Surgery), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2021 – 2028

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Raksha Sharma

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Report Description

The global vascular closure devices market is anticipated to expand at a CAGR of 7% during the forecast period, 2021–2028. Vascular closure devices (VCDs) are medical devices that are used to seal punctures in the femoral artery in patients who have had diagnostic or interventional angiography operations.

The growing preference for vascular closure devices (VCDs) is due to the fact that they are a viable alternative to manual compression, which is a time-consuming technique that varies based on the size of the plastic sheath inserted into the artery.

Mechanical or manual compression does not provide instantaneous sealing of the femoral artery entry point, as VCDs. If this device is used properly and responsibly, it can help reduce the number of deaths caused by health problems such as peripheral artery disease (PAD), abdominal aortic aneurysm (AAA), and carotid artery disease (CAD).

Cardiovascular diseases (CVDs) are one of the most common causes of death around the world. CVDs caused 18.6 million deaths in 2019, according to the American Heart Association (AHA), with the majority of deaths occurring in Eastern Europe and Central Asia. According to the American Heart Association, 40.5 percent of the US population will have some form of CVD by 2030.

Market Trends, Drivers, Restraints, and Opportunities:

High prevalence of cardiovascular diseases and increasing prevalence of obesity are major drivers of the market.
Increasing focus of market players on large-bore vascular closure devices and rising growing geriatric population are key factors of the market.
Favorable reimbursement scenario for interventional radiology procedures and rising focus on effective blood loss management in patients during surgeries are the primary factors driving the growth of the vascular closure devices market.
Growing number of minimally invasive surgical procedures around the globe as people are becoming increasingly aware of the benefits of minimally invasive cardiac surgery is anticipated to drive market growth during the forecast period.
Expanding use of interventional cardiac catheterization, such as percutaneous coronary intervention (PCI) for the treatment of narrowed coronary arteries can propel the market growth.
High cost of vascular closure devices can restrict the market expansion during the forecast period.
Rising in the number of hospitals and surgical centers is estimated to create opportunities for market players.

Scope of Vascular Closure Devices Market Report

The report on the global vascular closure devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Vascular Closure Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Passive Approximators, Active Approximators, and External Hemostatic Devices), Access (Femoral Access and Radial Access), and Procedures (Interventional Cardiology and Interventional Radiology/Vascular Surgery)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Terumo Medical Corporation, Abbott., Cardinal Health., Cardival Medical, Inc., Teleflex Incorporated., Merit Medical Systems., Veryan Medical, Tricol Biomedical., Transluminal Technologies, and Meril Life Sciences Pvt. Ltd.

Vascular Closure Devices Market Segment Insights

Passive approximators segment to account a key share of the market

Based on the types, the market can be divided into passive approximators, active approximators, and external hemostatic devices. The passive approximators segment is expected to account for a key share of the market during the forecast period due to the growing number of vascular closure device approvals, as well as the wide range of benefits associated with these devices, such as ease of use and lower patient complication rates.

Femoral access segment to hold a significant market share

In terms of access, the vascular closure devices market can be segregated into femoral access and radial access. The femoral access segment is projected to account for a significant share of the market during the forecast period, attributed to the rising number of approvals for vascular closure devices and the wide range of advantages associated with these devices, such as ease of use and lower patient complication rates.

Interventional cardiology segment to grow at a robust pace

On the basis of procedures, the vascular closure devices market can be segregated into interventional cardiology and interventional radiology/vascular surgery. The Interventional cardiology segment is anticipated to account for a significant share of the market during the forecast period.

The developments in angioplasty and cardiac stenting, as well as the increased prevalence of cardiac illnesses internationally, a substantial portion of the revenue is attributed to the diagnosis and treatment of variety of cardiovascular disorders.

North America to constitute a major market share

Based on regions, the market can be classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America market is expected to expand at a high CAGR during the forecast period due to the rising prevalence of cardiovascular diseases, e growing trend of one-day surgeries for vascular procedures, increasing research and clinical trials for vascular closure devices in the US, the rising number of cardiac arrest cases, and long waiting periods for cardiac surgeries, which encourage the adoption of minimally invasive procedures in Canada.

Segments

By Types

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

By Access

Femoral Access
Radial Access

By Procedure

Interventional Cardiology
Interventional Radiology/Vascular Surgery

By Regions

Asia Pacific
North America
Europe
Latin America
Middle East & Africa

By Key Players

Terumo Medical Corporation
Abbott.
Cardinal Health.
Cardival Medical, Inc.
Teleflex Incorporated.
Merit Medical Systems.
Veryan Medical
Tricol Biomedical.
Transluminal Technologies
Meril Life Sciences Pvt. Ltd.

Competitive Landscape

Some of the key players in the vascular closure devices market include Terumo Medical Corporation, Abbott., Cardinal Health., Cardival Medical, Inc., Teleflex Incorporated., Merit Medical Systems., Veryan Medical, Tricol Biomedical., Transluminal Technologies, and Meril Life Sciences Pvt. Ltd.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vascular Closure Devices Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Vascular Closure Devices Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Vascular Closure Devices Market - Supply Chain
  4.5. Global Vascular Closure Devices Market Forecast
     4.5.1. Vascular Closure Devices Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Vascular Closure Devices Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Vascular Closure Devices Market Absolute $ Opportunity
5. Global Vascular Closure Devices Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Vascular Closure Devices Market Size and Volume Forecast by Types
     5.3.1. Passive Approximators
     5.3.2. Active Approximators
     5.3.3. External Hemostatic Devices
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Vascular Closure Devices Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Vascular Closure Devices Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Vascular Closure Devices Demand Share Forecast, 2019-2026
7. North America Vascular Closure Devices Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Vascular Closure Devices Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Vascular Closure Devices Market Size and Volume Forecast by Types
     7.4.1. Passive Approximators
     7.4.2. Active Approximators
     7.4.3. External Hemostatic Devices
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Vascular Closure Devices Demand Share Forecast, 2019-2026
8. Latin America Vascular Closure Devices Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Vascular Closure Devices Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Vascular Closure Devices Market Size and Volume Forecast by Types
     8.4.1. Passive Approximators
     8.4.2. Active Approximators
     8.4.3. External Hemostatic Devices
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Vascular Closure Devices Demand Share Forecast, 2019-2026
9. Europe Vascular Closure Devices Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Vascular Closure Devices Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Vascular Closure Devices Market Size and Volume Forecast by Types
     9.4.1. Passive Approximators
     9.4.2. Active Approximators
     9.4.3. External Hemostatic Devices
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Vascular Closure Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Vascular Closure Devices Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Vascular Closure Devices Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Vascular Closure Devices Market Size and Volume Forecast by Types
     10.4.1. Passive Approximators
     10.4.2. Active Approximators
     10.4.3. External Hemostatic Devices
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Vascular Closure Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Vascular Closure Devices Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Vascular Closure Devices Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Vascular Closure Devices Market Size and Volume Forecast by Types
     11.4.1. Passive Approximators
     11.4.2. Active Approximators
     11.4.3. External Hemostatic Devices
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Vascular Closure Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Vascular Closure Devices Market: Market Share Analysis
  12.2. Vascular Closure Devices Distributors and Customers
  12.3. Vascular Closure Devices Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Terumo Medical Corporation
     12.4.2. Abbott.
     12.4.3. Cardinal Health.
     12.4.4. Cardival Medical, Inc.
     12.4.5. Teleflex Incorporated.
     12.4.6. Merit Medical Systems.
     12.4.7. Veryan Medical

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