Vascular Closure Device Market Synopsis:
Vascular Closure Device Market Size Was Valued at USD 1.46 Billion in 2023, and is Projected to Reach USD 2.32 Billion by 2032, Growing at a CAGR of 5.30% From 2024-2032.
The Vascular Closure Device Market includes devices employed in hemostasis of the vascular access site after percutaneous cardiovascular procedures like angiography, angioplasty, and other catheter-guided procedures. These devices are intended to supplant conventional mechanical compression approaches by actively clogging the access point more expediently than doing manually, while posing a decreased probability of bleeding-related adversities, shortening recovery time and increasing the patient’s comfort. The stomach market offers many different types of closure devices, including suture-based, clip-based, and other sealing-based devices.
The Vascular Closure Device Market is mainly fueled by the rising cardiovascular & interventional radiology surgeries globally. With the increasing occurrence of CVD occasioned by factors such as ageing, unhealthy living, and rising hypertension, there is a need to have better vascular closure systems. In addition, catheter-based procedures and similar techniques to diagnose or treat patients have increased, which also increases the demand for vascular closure device.
Yet another factor that is contributing to this market is the shift towards minimising patient downtime and hospitals stays. That is why the use of vascular closure devices is highly appreciated, as such methods as manual compression cause longer recovery periods and more complications. Furthermore, healthcare acquaintances are engaging in an attempt to enhance patient comfort and reduce procedural time, which complements the establishment of the above devices. Other factors that are driving market growth are product innovations that have been realized through consistent innovations in technology which have seen the release of new, superior products such as absorbable and biocompatible devices.
Vascular Closure Device Market Trend Analysis:
The growing preference for radial access over femoral access during interventional procedures.
- Radial access over femoral access during interventional procedures is one of the most significant trends in the Vascular Closure Device Market. Implementation of radial access appeared to have fewer complications, and patients were discharged from the hospital earlier; therefore, it improves the safety and satisfaction of patients. Therefore, the usage of the vascular closure devices for radial access is rising daily but putting pressure on the manufactures to develop new products for this unique use. While this shift is expected to introduce new opportunities for growth and redefine tremendously the product portfolios in the global market.
- The other notable trend is the increase in the adoption of new technologies which have the creation of new and next device generations. Specifically, the market is observing increased demand in bioabsorbable as well as non-metallic devices which provide a better closure while having minimal effects on the patient in the future. Thus, the market’s product portfolio is broadening: The shift to patient-centricity and the requirement of shorter time to recovery are the main reasons why companies are interested in investing in research and development in this field.
The rising prevalence of cardiovascular diseases and increasing healthcare expenditures
- The opportunity for growth for the market is vast, there are many unexplored locations for the Vascular Closure Device market in Asia-Pacific and Latin America. There is high demand for imaging system solutions for cardiovascular diseases, and rising costs for healthcare in such regions also have a positive impact on the growth of the market. However, from these regions, the governments and private players are spending significantly on enhancing the healthcare sectors and making them more accessible to various types of innovative surgical procedures and so on, which has a positive impact on the usage of vascular closure devices.
- Furthermore, the market is expected to get a push from the increasing trend for outpatient and same day discharge surgeries among the developed nations. Paying focus on delivery of cost-effective healthcare services coupled with introducing less invasive procedures make VC devices an integral part of ambulatory services. This transition makes it possible for manufacturers to deliver new equipment designed to suit ambulatory surgical centers, opening new ground for market development.
Vascular Closure Device Market Segment Analysis:
Vascular Closure Device Market Segmented on the basis of Product type, Access Site, Mechanisms end user, and
By Product Type, Active Approximators segment is expected to dominate the market during the forecast period
- Vascular Closure Device Market segmented based on the product type includes active approximators, passive approximators, and external vascular closure devices. Surgical and mechanical approximators include physical structures that occlude the vascular puncture site and assure good closure and minimal bleeding such as clips, suture and staples. Passive approximators on the other hand utilizes biological material such as collagen plugs, or absorbable polymers that encourage clotting of the blood and normal healing of the vessels after puncture have been made. The external vascular closure devices are positioned on the skin’s surface such they apply compression or external force on the puncture site to stop bleeding. These devices are chosen according to the severity of the condition of a patient or the requirements of a specific procedure and oriented on physician’s choice to provide fast and safe recovery after a procedure is made.
By Mechanisms, Mechanical segment expected to held the largest share
- The Vascular Closure Device Market by mechanism can be classified into mechanical and biodegradable devices. Mechanical means refer to suture, clip or staped used to physically close the vascular access site and this offers early closure besides minimizing the danger of bleeding. These devices are intended to provide reliable and secure seal and are typically implemented in high risk clients or during intricate operations. With biodegradable devices on the other hand, they utilize materials that gradually dissolve or are altered and absorbed in the body. These devices help initiate the desired healing and cut down on the need for additional procedures, which makes them a favorite of patients who maybe better off with no large pieces of foreign material lodged within the body for prolonged intervals. Both types are designed to provide reliable sealing and rapid disengagement following interventional procedures.
Vascular Closure Device Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America has the largest market share in the Vascular Closure Device Market, this can be attributed to the high incidence cardiovascular diseases and there is also adequate infrastructure of the health care systems. A host of factors point to a high level of investment in healthcare technology in the region; patient safety measures; procedural efficiency; and, the use of vascular closure devices. Further, positive reimbursement policies and the steadily increasing pool of qualified and trained personnel to perform interventional techniques are the driving winds in this region.
- In addition, growth in minimally invasive surgeries and accessibility of technologically superior products for both United States and Canada has shifted the dynamics of North American contention in the global market. This is especially the case since a focus on earlier discharge and better patient outcomes has benefited Vascular Closure Device Market growth and solidifie North America’s hold on the industry.
Active Key Players in the Vascular Closure Device Market:
- Abbott Laboratories (United States)
- Cardinal Health (United States)
- Cardiva Medical, Inc. (United States)
- Essential Medical, Inc. (United States)
- Medtronic Plc (Ireland)
- Merit Medical Systems, Inc. (United States)
- Morris Innovative, Inc. (United States)
- Teleflex Incorporated (United States)
- Terumo Corporation (Japan)
- Vasorum Ltd. (Ireland)
- Other Active Players
|
Vascular Closure Device Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.46 Billion |
|
Forecast Period 2024-32 CAGR: |
5.30 % |
Market Size in 2032: |
USD 2.32 Billion |
|
Segments Covered: |
By Product Type |
|
|
|
Access Site |
|
||
|
Mechanism |
|
||
|
By End User |
|
||
|
By Region |
|
||
|
Key Market Drivers: |
|
||
|
Key Market Restraints: |
|
||
|
Key Opportunities: |
|
||
|
Companies Covered in the report: |
|
||
Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Industry Dynamics and Opportunity Analysis
3.1.1 Growth Drivers
3.1.2 Limiting Factors
3.1.3 Growth Opportunities
3.1.4 Challenges and Risks
3.2 Market Trend Analysis
3.3 Strategic Pestle Overview
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Mapping
3.6 Regulatory Framework
3.7 Princing Trend Analysis
3.8 Patent Analysis
3.9 Technology Evolution
3.10 Investment Pockets
3.11 Import-Export Analysis
Chapter 4: Vascular Closure Device Market by Product Type
4.1 Vascular Closure Device Market Snapshot and Growth Engine
4.2 Vascular Closure Device Market Overview
4.3 Active Approximators
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Active Approximators: Geographic Segmentation Analysis
4.4 Passive Approximators
4.4.1 Introduction and Market Overview
4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.4.3 Passive Approximators: Geographic Segmentation Analysis
4.5 External Vascular Closure Devices
4.5.1 Introduction and Market Overview
4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.5.3 External Vascular Closure Devices: Geographic Segmentation Analysis
Chapter 5: Vascular Closure Device Market by Access Site
5.1 Vascular Closure Device Market Snapshot and Growth Engine
5.2 Vascular Closure Device Market Overview
5.3 Femoral Access
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Femoral Access: Geographic Segmentation Analysis
5.4 Radial Access
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.4.3 Radial Access: Geographic Segmentation Analysis
Chapter 6: Vascular Closure Device Market by Mechanism
6.1 Vascular Closure Device Market Snapshot and Growth Engine
6.2 Vascular Closure Device Market Overview
6.3 Mechanical
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Mechanical: Geographic Segmentation Analysis
6.4 Biodegradable
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Biodegradable: Geographic Segmentation Analysis
Chapter 7: Vascular Closure Device Market by End User
7.1 Vascular Closure Device Market Snapshot and Growth Engine
7.2 Vascular Closure Device Market Overview
7.3 Hospitals
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.3.3 Hospitals: Geographic Segmentation Analysis
7.4 Ambulatory Surgical Centers (ASCs)
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.4.3 Ambulatory Surgical Centers (ASCs): Geographic Segmentation Analysis
7.5 Specialty Clinics)
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
7.5.3 Specialty Clinics) : Geographic Segmentation Analysis
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Benchmarking
8.1.2 Vascular Closure Device Market Share by Manufacturer (2023)
8.1.3 Concentration Ratio(CR5)
8.1.4 Heat Map Analysis
8.1.5 Mergers and Acquisitions
8.2 ABBOTT LABORATORIES (UNITED STATES)
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.3 CARDINAL HEALTH (UNITED STATES)
8.4 TERUMO CORPORATION (JAPAN)
8.5 MEDTRONIC PLC (IRELAND)
8.6 CARDIVA MEDICAL INC. (UNITED STATES)
8.7 VASORUM LTD. (IRELAND)
8.8 MORRIS INNOVATIVE INC. (UNITED STATES)
8.9 TELEFLEX INCORPORATED (UNITED STATES)
8.10 MERIT MEDICAL SYSTEMS INC. (UNITED STATES)
8.11 ESSENTIAL MEDICAL INC. (UNITED STATES)
8.12 OTHER ACTIVE PLAYERS
Chapter 9: Global Vascular Closure Device Market By Region
9.1 Overview
9.2. North America Vascular Closure Device Market
9.2.1 Historic and Forecasted Market Size by Segments
9.2.2 Historic and Forecasted Market Size By Product Type
9.2.2.1 Active Approximators
9.2.2.2 Passive Approximators
9.2.2.3 External Vascular Closure Devices
9.2.3 Historic and Forecasted Market Size By Access Site
9.2.3.1 Femoral Access
9.2.3.2 Radial Access
9.2.4 Historic and Forecasted Market Size By Mechanism
9.2.4.1 Mechanical
9.2.4.2 Biodegradable
9.2.5 Historic and Forecasted Market Size By End User
9.2.5.1 Hospitals
9.2.5.2 Ambulatory Surgical Centers (ASCs)
9.2.5.3 Specialty Clinics)
9.2.6 Historic and Forecast Market Size by Country
9.2.6.1 US
9.2.6.2 Canada
9.2.6.3 Mexico
9.3. Eastern Europe Vascular Closure Device Market
9.3.1 Historic and Forecasted Market Size by Segments
9.3.2 Historic and Forecasted Market Size By Product Type
9.3.2.1 Active Approximators
9.3.2.2 Passive Approximators
9.3.2.3 External Vascular Closure Devices
9.3.3 Historic and Forecasted Market Size By Access Site
9.3.3.1 Femoral Access
9.3.3.2 Radial Access
9.3.4 Historic and Forecasted Market Size By Mechanism
9.3.4.1 Mechanical
9.3.4.2 Biodegradable
9.3.5 Historic and Forecasted Market Size By End User
9.3.5.1 Hospitals
9.3.5.2 Ambulatory Surgical Centers (ASCs)
9.3.5.3 Specialty Clinics)
9.3.6 Historic and Forecast Market Size by Country
9.3.6.1 Bulgaria
9.3.6.2 The Czech Republic
9.3.6.3 Hungary
9.3.6.4 Poland
9.3.6.5 Romania
9.3.6.6 Rest of Eastern Europe
9.4. Western Europe Vascular Closure Device Market
9.4.1 Historic and Forecasted Market Size by Segments
9.4.2 Historic and Forecasted Market Size By Product Type
9.4.2.1 Active Approximators
9.4.2.2 Passive Approximators
9.4.2.3 External Vascular Closure Devices
9.4.3 Historic and Forecasted Market Size By Access Site
9.4.3.1 Femoral Access
9.4.3.2 Radial Access
9.4.4 Historic and Forecasted Market Size By Mechanism
9.4.4.1 Mechanical
9.4.4.2 Biodegradable
9.4.5 Historic and Forecasted Market Size By End User
9.4.5.1 Hospitals
9.4.5.2 Ambulatory Surgical Centers (ASCs)
9.4.5.3 Specialty Clinics)
9.4.6 Historic and Forecast Market Size by Country
9.4.6.1 Germany
9.4.6.2 UK
9.4.6.3 France
9.4.6.4 Netherlands
9.4.6.5 Italy
9.4.6.6 Russia
9.4.6.7 Spain
9.4.6.8 Rest of Western Europe
9.5. Asia Pacific Vascular Closure Device Market
9.5.1 Historic and Forecasted Market Size by Segments
9.5.2 Historic and Forecasted Market Size By Product Type
9.5.2.1 Active Approximators
9.5.2.2 Passive Approximators
9.5.2.3 External Vascular Closure Devices
9.5.3 Historic and Forecasted Market Size By Access Site
9.5.3.1 Femoral Access
9.5.3.2 Radial Access
9.5.4 Historic and Forecasted Market Size By Mechanism
9.5.4.1 Mechanical
9.5.4.2 Biodegradable
9.5.5 Historic and Forecasted Market Size By End User
9.5.5.1 Hospitals
9.5.5.2 Ambulatory Surgical Centers (ASCs)
9.5.5.3 Specialty Clinics)
9.5.6 Historic and Forecast Market Size by Country
9.5.6.1 China
9.5.6.2 India
9.5.6.3 Japan
9.5.6.4 South Korea
9.5.6.5 Malaysia
9.5.6.6 Thailand
9.5.6.7 Vietnam
9.5.6.8 The Philippines
9.5.6.9 Australia
9.5.6.10 New Zealand
9.5.6.11 Rest of APAC
9.6. Middle East & Africa Vascular Closure Device Market
9.6.1 Historic and Forecasted Market Size by Segments
9.6.2 Historic and Forecasted Market Size By Product Type
9.6.2.1 Active Approximators
9.6.2.2 Passive Approximators
9.6.2.3 External Vascular Closure Devices
9.6.3 Historic and Forecasted Market Size By Access Site
9.6.3.1 Femoral Access
9.6.3.2 Radial Access
9.6.4 Historic and Forecasted Market Size By Mechanism
9.6.4.1 Mechanical
9.6.4.2 Biodegradable
9.6.5 Historic and Forecasted Market Size By End User
9.6.5.1 Hospitals
9.6.5.2 Ambulatory Surgical Centers (ASCs)
9.6.5.3 Specialty Clinics)
9.6.6 Historic and Forecast Market Size by Country
9.6.6.1 Turkey
9.6.6.2 Bahrain
9.6.6.3 Kuwait
9.6.6.4 Saudi Arabia
9.6.6.5 Qatar
9.6.6.6 UAE
9.6.6.7 Israel
9.6.6.8 South Africa
9.7. South America Vascular Closure Device Market
9.7.1 Historic and Forecasted Market Size by Segments
9.7.2 Historic and Forecasted Market Size By Product Type
9.7.2.1 Active Approximators
9.7.2.2 Passive Approximators
9.7.2.3 External Vascular Closure Devices
9.7.3 Historic and Forecasted Market Size By Access Site
9.7.3.1 Femoral Access
9.7.3.2 Radial Access
9.7.4 Historic and Forecasted Market Size By Mechanism
9.7.4.1 Mechanical
9.7.4.2 Biodegradable
9.7.5 Historic and Forecasted Market Size By End User
9.7.5.1 Hospitals
9.7.5.2 Ambulatory Surgical Centers (ASCs)
9.7.5.3 Specialty Clinics)
9.7.6 Historic and Forecast Market Size by Country
9.7.6.1 Brazil
9.7.6.2 Argentina
9.7.6.3 Rest of SA
Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies
Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
|
Vascular Closure Device Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.46 Billion |
|
Forecast Period 2024-32 CAGR: |
5.30 % |
Market Size in 2032: |
USD 2.32 Billion |
|
Segments Covered: |
By Product Type |
|
|
|
Access Site |
|
||
|
Mechanism |
|
||
|
By End User |
|
||
|
By Region |
|
||
|
Key Market Drivers: |
|
||
|
Key Market Restraints: |
|
||
|
Key Opportunities: |
|
||
|
Companies Covered in the report: |
|
||
