"Vascular Closure Device Market - Industry Trends and Forecast to 2028
Global Vascular Closure Device By Type (Passive Approximators, Active Approximators, and External Hemostatic Devices), Access (Femoral Access and Radial Access), Procedure (Interventional Cardiology, Interventional Radiology/ Vascular Surgery), Distribution Channel (Direct Tenders and Retail), Application (Diagnostic Intervention and Therapeutic Intervention), End User (Hospitals and Clinics, Specialty Centres, Ambulatory Surgery Centres and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
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Data Bridge Market Research analyses that the vascular closure device market will exhibit a CAGR of around 6.33% for the forecast period of 2021-2028. Rising demand for minimally invasive and non-invasive procedures around the globe, increased focus of technological advancements involved in the manufacturing of medical devices, and rising expenditure on the healthcare infrastructure development, especially in the developing economies are the major factors attributable to the growth of vascular closure device market.
**Segments**
- Based on the type, the vascular closure device market can be segmented into passive closure devices and active closure devices. Passive closure devices are widely used and are designed to assist hemostasis by providing pressure to the arterial puncture site. On the other hand, active closure devices are gaining popularity as they use mechanisms such as sutures or clips to close the arterial puncture site more effectively.
- By procedure, the market can be categorized into interventional cardiology and interventional radiology/endovascular procedures. Interventional cardiology procedures involve the use of vascular closure devices for closing arterial puncture sites following coronary angiography and percutaneous coronary interventions. Interventional radiology/endovascular procedures include minimally invasive treatments for various vascular conditions, utilizing closure devices post-procedure for hemostasis.
- Geographically, the vascular closure device market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America currently dominates the market due to the high prevalence of cardiovascular diseases, advanced healthcare infrastructure, and increasing adoption of minimally invasive procedures. However, the Asia-Pacific region is poised for significant growth with improving healthcare facilities, rising awareness about cardiovascular diseases, and increasing healthcare expenditure.
**Market Players**
- Some of the key players in the vascular closure device market include Terumo Corporation, Abbott, Cardiva Medical, Merit Medical Systems, Cardinal Health, Inc., Teleflex Incorporated, ESSENTIAL MEDICAL, Inc., Vasorum Ltd., TZ Medical, Inc., Vivasure Medical, Morris Innovative, Inc., and Tricol Biomedical.
- These market players are focusing on strategies such as mergers and acquisitions, product launches, partnerships, and collaborations to strengthen their market position and expand their product portfolio. For instance, in January 2021, Terumo Corporation completed the acquisition of Aortica Corporation, a developer of advanced vascular stent graft systems. Such strategic initiatives help companies enhance their technological capabilities and cater to the growingThe vascular closure device market is experiencing significant growth driven by various factors such as the increasing prevalence of cardiovascular diseases, growing adoption of minimally invasive procedures, and advancements in healthcare infrastructure. The segmentation of the market based on device type into passive closure devices and active closure devices provides insights into the different mechanisms used for achieving hemostasis at arterial puncture sites. Passive closure devices, which provide pressure at the puncture site, have been traditionally popular, while active closure devices are gaining traction for their more effective closure mechanisms using sutures or clips.
Moreover, the categorization of the market by procedure into interventional cardiology and interventional radiology/endovascular procedures highlights the different applications of vascular closure devices in cardiac and non-cardiac interventions. The market players in this space are focused on developing innovative products and expanding their presence through strategic initiatives. For example, companies like Terumo Corporation, Abbott, and Cardiva Medical are actively involved in mergers, acquisitions, and partnerships to enhance their product offerings and technological capabilities.
Geographically, North America currently dominates the vascular closure device market due to factors such as high disease prevalence, advanced healthcare infrastructure, and a favorable reimbursement scenario. However, the Asia-Pacific region is emerging as a lucrative market with improving healthcare facilities, growing awareness about cardiovascular diseases, and increasing healthcare expenditure. Market players are keen on capitalizing on the growth opportunities in these regions by expanding their distribution networks and launching region-specific products to cater to the diverse patient population.
Furthermore, the increasing focus on research and development activities aimed at developing next-generation vascular closure devices with enhanced efficacy and safety profiles is driving market growth. Companies are investing in clinical trials and collaborations with healthcare professionals to validate the performance of their products and gain regulatory approvals. The emphasis on patient safety and comfort is also influencing product design, with a shift towards more user-friendly and minimally invasive closure devices.
In conclusion, the vascular closure device market is witnessing dynamic growth propelled by technological advancements, increasing procedural volumes, and expanding applications across various medical**Global Vascular Closure Device Market Analysis**
The vascular closure device market is witnessing robust growth globally, driven by factors such as increasing cardiovascular disease prevalence and the adoption of minimally invasive procedures. The segmentation of the market into passive closure devices and active closure devices provides a comprehensive view of the different mechanisms utilized for achieving hemostasis at arterial puncture sites. Passive closure devices are well-established, while active closure devices are gaining traction for their more efficient closure methods using sutures or clips. This diversification in device types offers healthcare professionals a range of options based on patient needs and procedural requirements.
Moreover, the division of the market by procedure into interventional cardiology and interventional radiology/endovascular procedures showcases the versatility of vascular closure devices in various cardiac and non-cardiac interventions. Market players such as Terumo Corporation, Abbott, and Cardiva Medical are actively engaged in strategic initiatives like mergers, acquisitions, and partnerships to bolster their market presence and innovate their product offerings. Such efforts are instrumental in enhancing technological capabilities and meeting the evolving demands of the healthcare landscape.
Geographically, North America currently leads the vascular closure device market owing to factors like high disease prevalence, advanced healthcare infrastructure, and favorable reimbursement policies. However, the Asia-Pacific region presents lucrative growth opportunities supported by improving healthcare facilities, rising awareness about cardiovascular diseases, and increased healthcare expenditure. Market players are strategically expanding their foothold in these regions by launching tailored products and strengthening distribution networks to cater to the diverse patient population.
Furthermore, the
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Vascular Closure Device Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Vascular Closure Device Market.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Vascular Closure Device Market Landscape
Part 04: Global Vascular Closure Device Market Sizing
Part 05: Global Vascular Closure Device Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
This study answers to the below key questions:
- What are the key factors driving the Vascular Closure Device Market?
- What are the challenges to market growth?
- Who are the key players in the Vascular Closure Device Market?
- What are the market opportunities and threats faced by the key players?
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