Global Vascular closure devices Market by Product Type (Passive Vascular Closure Devices, Active Vascular Closure Devices, and External Hemostatic Devices), By Access (Femoral, and Radial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2030
Report Code : BII 968 Jan-2022 Healthcare Format : PDF Pages : 217
Global Vascular Closure Devices Market Overview
Vascular closure devices (VCD) have emerged as an effective alternative for conventional mechanical pressure for femoral process closure and are commonly used in patients undergoing femoral route catheterization. Market companies engage heavily in new product research, which is a major market growth driver. Another key growth driver is the increased efficiency rate of new gadgets that have recently entered in the market.
Manufacturers of vascular closure devices are concentrating their efforts on speeding up technological advancements and increasing the quality of life for patients who use these devices. Moreover, increasing initiatives and support by the governments and growing demand for advanced treatment are fueling market growth. The use of imaging technologies and treatments, as well as a shift in medical facilities toward minimally invasive procedures, has provided opportunities in this industry. However, high costs associated with vascular closure devices will act as a market growth restraint.
Market Size
According to Business Intelligence Insights “Vascular Closure Devices Market" is expected to grow from USD 871.90 million in 2021 to USD 1464.81 million by 2028, at a CAGR of 7.20% during the forecast period 2022-2028
Covid -19 Impact Analysis
During the foundation time of pandemics, the introduction of COVID-19 had an impact on the procedure volume of a few cardiovascular medicines. T Elective procedures were denied (cancelled/postponed) to allocate or redirect scarce capacities and resources (such as hospital beds and patient care professionals) to COVID-19 patient care. In addition, to combat the increased number of COVID-19 instances, several countries implemented lockdowns and curfews. Patients were unable to visit hospitals, OPDs, or clinics due to the lockdowns. The market for vascular closure devices is projected to be limited by this temporary suspension of non-emergent healthcare services. In the next years, however, demand for vascular closure devices is likely to increase. Furthermore, authoritative collaboration and government support to continue providing successful crisis cardiac care to patients have aided mechanical income growth.
Market Dynamics
• Drivers
o increased efficiency rate of new gadgets
o growing demand for advanced treatment
• Restraints
o Rising cost of vascular closure devices
Segmentation Insights
By Interventional category:
Interventional cardiology category dominated the market with more than 40% of the market share
In 2021, the market for vascular closure devices is dominated by interventional cardiology as a procedure. The market for vascular closure devices is dominated by interventional cardiology over the upcoming years. Due to developments in angioplasty and cardiac stenting, as well as the increased prevalence of cardiac problems internationally, a substantial portion of the revenue is related to the diagnosis and treatment of several cardiovascular disorders.
By Femoral Accesses:
Femoral Accesses category dominated the market with significant share 36.3% in the market
The mode of accesses in which vascular closure device scan be taken are formal and radial access. In the worldwide vascular closure devices industry, formal access is the most popular procedure mode during the upcoming years. Companies are stepping up efforts into developing products that reduce complex procedures and remove barriers associated with type formal accesses procedural challenges, which is projected to drive market expansion even faster. Interventional cardiologists and other proceduralists use the femoral vascular closure devices to establish blood clotting at the laboratory access point.
By Type
• Passive Approximators
• Active Approximators
• External Haemostatic Devices
By Access
• Femoral Access
• Radial Access
By Procedure
• Interventional Cardiology
• Interventional Radiology/Vascular Surgery
By Region
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa (MEA)
Key Players
• Terumo Medical Corporation
• Cardinal Health
• Abbott
• Cardivan Medical, Inc.
• Medtronic plc
• BIOTRONIK
• Teleflex Incorporated
• Trico Medical
• Merit Medical Systems, Inc.
• Z-Medica, LLC
• Others
Regional Insights
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North America dominated the market with share of 45% in the market
In both developed and emerging countries, the North America vascular closure devices market grew rapidly. North America vascular closure device market held over 45% of revenue share in 2021. The rising prevalence of cardiovascular diseases, the growing trend with one surgery 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 Canada are all factors contributing to the North American market's size.
Table
Report Attributes |
Details |
|---|---|
| Market Size Value in 2021 | USD 871.90 million |
| Market Size Value in 2028 | USD 1464.81 million |
| Growth Rate | +7.20% |
| Base Year | 2021 |
| Forecast Period | 2022-2028 |
| Historical Data | 2018-2020 |
| Forecast Units | USD million |
| Countries Covered | North America: U.S., Canada, Europe: Germany, U.K., France, Italy, Spain, Rest of Europe, Asia Pacific: China, India, Japan, Rest of Asia Pacific, Latin America: Brazil, Mexico, Rest of Latin America, Middle East and Africa: UAE, South Africa, Rest of Middle East and Africa (MEA) |
| Segments Covered | By Type, By Access, By Procedure, By Region |
| Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
| Customization is available | If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions |