Global Vascular Closure Devices Market to Reach US$ 2.4 Billion by 2032, Propelled by Growing Prevalence of Cardiovascular Diseases

March 14, 2023 | Healthcare

The latest report by IMARC Group, titled “Vascular Closure Devices Market Report by Product (Passive Approximators, Active Approximators, External Hemostatic Devices), Access (Femoral Access, Radial Access), Procedure (Interventional Cardiology, Interventional Radiology/Vascular Surgery), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Region 2024-2032,” finds that the global vascular closure devices market size reached US$ 1.5 Billion in 2023. Vascular closure devices (VCDs) are medical instruments used to seal small punctures made in the femoral artery of a patient after an angiogram or interventional procedure. These devices are extensively used for patients undergoing catheterization through the femoral route compared to the traditional mechanical compression method. They help reduce the risk of immediate bleeding from the puncture site and help assist a large body habitus, anticoagulation, and antiplatelet therapies. They also minimize the time to hemostasis, lowers patient discomfort associated with prolonged bed rest, prevent femoral artery complications, facilitate patient mobilization, and decrease prolonged hospital stays. As a result, VCDs are widely used in specialty and ambulatory surgery centers, hospitals, and clinics across the globe.

Global Vascular Closure Devices Market Trends:

The market is primarily driven by the expanding healthcare sector and the growing prevalence of obesity, lifestyle diseases, and cardiovascular diseases (CVDs) such as coronary heart, stroke, peripheral arterial, and aortic diseases. In addition, the rising demand for catheterization and interventional procedures for treating and diagnosing CVDs is contributing to the market growth. Moreover, the growing preference for minimally invasive surgeries (MIS), as they offer higher accuracy, speedy recovery, and minimized surgical pain, scarring, injury, and hospital stay, represents another major growth-inducing factor. Besides this, the increasing investment by governments of numerous countries to establish new hospitals and develop innovative technologies is providing a positive thrust to market growth. Along with this, the rising focus of doctors on effective blood loss management in patients during surgical procedures is accelerating the product adoption rate. Furthermore, extensive research and development (R&D) activities and collaboration among leading market players for the commercialization and marketing of devices are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 2.4 Billion by 2032, exhibiting a CAGR of 5.1% during the forecast period (2024-2032).

Market Summary:

  • Based on the product, the market has been segmented into passive approximators (collagen plugs, sealant or gel-based devices, and compression-assist devices), active approximators (suture-based devices and clip-based devices), and external hemostatic devices. At present, passive approximators exhibit a clear dominance in the market.  
  • On the basis of access, the market has been divided into femoral and radial access. Presently, femoral access accounts for the largest market share.
  • Based on the procedure, the market has been bifurcated into interventional cardiology and interventional radiology/vascular surgery. Amongst these, interventional cardiology holds the majority of the total market share.
  • On the basis of end user, the market has been classified into hospitals, ambulatory surgical centers, and others, wherein hospitals represent the leading segment.
  • Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other major regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being Abbott Laboratories, Cardiva Medical Inc. (Haemonetics Corporation), Cordis Corporation (Cardinal Health Inc.), ENDOCOR GmbH & Co. KG, Merit Medical Systems Inc., Morris Innovative Inc., Teleflex Incorporated, Terumo Medical Corporation (Terumo Corporation), Transluminal Technologies LLC, and Vasorum Ltd.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
 Product Covered
  • Passive Approximators: Collagen Plugs, Sealant or Gel-Based Devices, Compression-Assist Devices
  • Active Approximators: Suture-Based Devices, Clip-Based Devices
  • External Hemostatic Devices
Access Covered Femoral Access, Radial Access
Procedure Covered Interventional Cardiology, Interventional Radiology/Vascular Surgery
End-User Covered Hospitals, Ambulatory Surgical Centers, Others
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott Laboratories, Cardiva Medical Inc. (Haemonetics Corporation), Cordis Corporation (Cardinal Health Inc.), ENDOCOR GmbH & Co. KG, Merit Medical Systems Inc., Morris Innovative Inc., Teleflex Incorporated, Terumo Medical Corporation (Terumo Corporation), Transluminal Technologies LLC, Vasorum Ltd., etc.
Customization Scope 10% Free Customization
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Global Vascular Closure Devices Market to Reach US$ 2.4 Billion by 2032, Propelled by Growing Prevalence of Cardiovascular Diseases
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