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by on July 26, 2021
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Market Highlights:

Vascular Closure Devices Market Research Report, by Product Type (Passive Vascular Closure Device, Active Vascular Closure Device, External Hemostatic Device), Access (Femoral, Radial), Procedures (Interventional Cardiology, Interventional Radiology), Application (Diagnostic, Therapeutic), End User (Hospitals Clinics, ASCs) – Global Forecast Till 2027

It is estimated that the global vascular closure devices market is expected to register a CAGR ~ 6.8% during the forecast period of 2018–2023. The global vascular closure devices market is expected to witness tremendous growth owing to the rising prevalence of numerous types of cardiovascular as well as neurovascular diseases. Other key factors such as the untapped market opportunities in emerging countries, growing investments by government organizations, increasing adoption rate of minimally invasive techniques are contributing towards the growth of the market. However, factors such as lack of trained medical professionals, and the post-operative complications are expected to curb the growth of the market during the forecast period.

On the regional basis, the vascular closure devices market in the Americas is predicted to dominate the market during the forecast period. The North American region holds substantial share in the global market. This owes to the rise in the government initiatives, and the increased prevalence of coronary diseases in these regions. For instance, according to the data published in 2015 by the American Heart Association (AHA), about one in 7 deaths in the US is caused by coronary heart disease. Also, numerous major players are based in the US, owing to which the US has become a center for innovation in the vascular closure devices market.

Currently, the global vascular closure devices market is dominated by numerous players. The major players in this market are involved in new product launches, strategic partnerships and collaborations to increase their product portfolio. For example, in June 2018, Biomerics, a medical device contract manufacturer announced the acquisition of FutureMatrix Interventional, Inc. The company aims to expand its portfolio of interventional catheters used in cardiovascular and urology fields, thus strengthening its position in the market.

Key Players:

Some of the key players in the global intraocular lens market are Abbott Laboratories, Terumo Corporation, Cardinal Health Inc., Cardiva Medical Inc., Morris Innovative, Inc., Medtronic plc, Essential Medical, Inc., Merit Medical Systems, Inc., TZ Medical, Inc., Vasorum Ltd., Transluminal Technologies LLC, Vascular Closure Systems, Inc., Vivasure Medical Ltd., among others.

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Segmentation:

The global vascular closure devices market is segmented on the basis of product type, access, procedures, application, and end user.

The vascular closure devices market, by product type is categorised into passive vascular closure devices, active vascular closure devices, and external hemostatic devices

The passive vascular closure devices segment is further divided into plug-based devices, sealant or gel-based devices, compression assist devices.

The active vascular closure devices segment is further divided into clip-based devices, suture-based devices, and gamma-retroviral vectors.

Based on access, the vascular closure devices market is categorised into femoral access, and radial access

On the basis of procedures, the market is segmented into interventional cardiology and interventional radiology/vascular surgery.

Based on application, the vascular closure devices market is segmented into diagnostic intervention, and therapeutic intervention.

On the basis of end user, the market is segmented into hospitals clinics, specialty centers, ambulatory surgery centers, and others.

Regional Analysis:

On the basis of region, the global vascular closure devices market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The vascular closure devices market in the Middle East and Africa has been segmented into the Middle East and Africa.

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