Global Vascular Closure Devices Market 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), Forecast 2021 – 2028
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 the 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
Segments Covered in the Report:
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.
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 (000’ 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
12.4.8.
Segments Covered in the Report:
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.
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.
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