Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-23
As per Business Intelligence Insights (BII) study, the global Vascular Closure Devices Market attained revenue growth of USD 871.90 million in 2021 and it is projected to reach around USD 1464.81 million by 2028, growing at a 7.20% CAGR.
Vascular Closure Devices have transformed the structure of cardiovascular treatments because to advancements in medical technology. VCDs reduce the time it takes to achieve hemostasis and address the issue, enhancing patient comfort and boosting market growth prospects. Factors responsible for the significant growth in the market are large number of approvals for vascular closure devices, high prevalence of cardiovascular diseases, increasing prevalence of obesity, increasing focus of market players on large-bore vascular closure devices. Emerging markets are expected to offer significant growth opportunities for market players, as well as an increase in the number of hospitals and specialty clinics.
The major factor driving the growth of vascular closure devices in the market is unmet medical demands in developing countries over the upcoming years. The vascular closure devices are used to repair the arteries that have been damaged.
One of the primary factors driving the growth of the vascular closure device market is the rising prevalence of cardiovascular disorders among the population. Other indirect vascular closure device market growth drivers include market participants' increasing focus on large-bore vascular closure devices and rising personal disposable income. Manual compression devices, on the other hand, have very cheap prices as compared to vascular closure devices. As a result, the high cost of vascular closure devices is a major constraint for market growth during the forecast period.
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Vascular Closure Devices Market: Companies Mentioned
• Olympus Corporation
• Ethicon Endo-surgery LLC
• FUJIFILM Holdings Corporation
• Stryker Corporation
• Boston Scientific Corporation
• Karl Storz GmbH & Co. KG.
• Smith & Nephew Inc.
• Richard Wolf GmbH
• Medtronic Plc (Covidien)
• PENTAX Medical
• Machida Endoscope Co., Ltd. Amway
• Corp (US)
Key Highlights of the Report
• Passive approximators as a product led the vascular closure devices market in 2021 with the significant share of 36.5% in the market, 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, can be contributed to this segment's significant fraction. Also, increasing number of products falling in this category, such as Angio-Seal, X-Seal, Minx, Fast Seal, is expected to boost revenue generation for passive approximator VCDs over the forecast period.
• Vascular closure devices come in a variety of forms, including. Gastroenterology segment dominated the market with the highest revenue share of 36.3% and it is the most common application mode in the global healthcare sector. The market is expected to witness steady growth in the long term due to the increasing number of femoral artery cardiac. Femoral Access has a significant market share. There are fewer complications associated with arterial access because to the general preference for this access route among cardiologists and clinicians during interventional procedures. Interventional cardiology and interventional radiology/vascular surgery are included in this market segment.
• The North America vascular closure devices market increased rapidly in both developed and developing countries and accounted for the highest share of n 45% in the global revenue. The growing trend of one-day surgeries for vascular procedures, increasing research and clinical trials for vascular closure devices in the US, the increasing number of cardiac arrest cases, and long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Furthermore, rising rates of cardiovascular disease in the United States are projected to boost VCD use in this region. Canada are all factors contributing to the large share of the North American market.
• The report contains qualitative and quantitative research on the global vascular closure devices Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
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Revenue-generating Segment Highlights
• Vascular closure Visualization Systems
• Gastrointestinal (GI) vascular closure
• Obstetrics/gynaecology vascular closure
• Urology vascular closure (cystoscopy)
• Other applications
• Ambulatory surgery centres
• Another end uses
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa (MEA)
Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Vascular Closure Devices Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –
• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?
The Vascular Closure Devices Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Vascular Closure Devices Market Forecast Report 2022- 2030 - Order Now!
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