The latest report by IMARC Group, titled “Vascular Closure Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global vascular closure devices market size reached US$ 1.4 Billion in 2022. 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$ 2.0 Billion by 2028, exhibiting a CAGR of 5.9% during the forecast period (2023-2028).
- 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.
|Base Year of the Analysis
| 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
||Femoral Access, Radial Access
||Interventional Cardiology, Interventional Radiology/Vascular Surgery
||Hospitals, Ambulatory Surgical Centers, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N A
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800