Global Vascular Closure Device Market Overview:
According to SPER Market Research, the global vascular closure device market was valued at USD 1.12 Bn in 2021 and estimated to reach USD 1.58 Bn by 2030 with a CAGR of 7.4%. The global burden of cardiovascular disorders causes around 17 Mn deaths per year across the globe. The number of patients with cardiovascular disorder will continue to grow as the geriatric population will increase in coming years.
Impact of COVID-19 on the Vascular Closure Device MarketThe upsurge in COVID-19 infections across the world redirect the resources and professionals towards COVID relief thus, compromising with wound care services, and elective surgeries. The temporary denial is notified for all the non-emergent healthcare services. Enforcing of lockdowns, curfews and fear of getting infected restrict the patients to visit hospitals, clinics or OPDs.
Scope of Report:
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Type, By Access, By Procedure |
| Geographies covered | North America, Europe, APAC, Latin America, and the Middle East & Africa |
| Companies Covered | Abbott, Cardinal Health, Medtronic, TZ Medical, Merit Medical Systems, Inc., Rex Medical, Vygon Company, Vasorum Ltd., Terumo Corporation, Cardiva Medical, Inc., Boston Scientific Corporation, Scion BioMedical, Morris Innovative, Inc., Vivasure Medical Ltd., Teleflex Incorporated, Tricol Biomedical, Transluminal Technologies, Meril Life Sciences Pvt. Ltd., Medas USA, Advanced Vascular Dynamics, Marine Polymer Technologies, Inc. |
Driver: Rising prevalence of cardiovascular diseases
High occurrence of cardiovascular diseases across the world will render high growth of vascular closure devices market in the forecast period. Rising prevalence of obesity, increasing geriatric population is leading to higher number of patients suffering from cardiovascular diseases.
Challenge: High medical costs and risk associated with vascular closure devices
The high costs of vascular closure devices can hinder the growth of this market. Countries with poor reimbursement policies can pose significant challenge for the adaption of vascular closure devices. The risks associated with the use of vascular closure devices during surgical procedures such as infections, bleeding, device failures and thrombotic events can also restrict the estimated growth.
Opportunity: Rising demand for minimally invasive procedures
The vascular closure devices provide minimal invasion and reduces risk of excessive blood loss during the surgeries. The rising awareness of patients towards minimally invasive procedures will provide growth opportunities for this market. Rising number of hospitals and healthcare funding will also support the growth of vascular closure devices.
Vascular Closure Devices Market Segmentation:
By Product type: Based on product type, the market has been segmented into passive approximators, active approximators and external Hemostatic Devices
By Access: Based on access, the market has been segmented into femoral access and radial access
By Procedures: Based on procedures, the market has been segmented into interventional cardiology and interventional radiology/vascular surgery
By Region: North America accounted for the largest share of Vascular Closure devices market. The large share is ascribed by sophisticated infrastructure, increasing prevalence of cardiovascular diseases and presence of leading players of this market in this region.
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Vascular Closure Device Market
4.4. Market Trends
5. Global Vascular Closure Device Market, By Type, 2021-2030 (USD Million)
5.1. Passive Approximators
5.1.1. Cotton plugs
5.1.2. Sealant or gel-based devices
5.1.3. Compression assists devices
5.2. Active Approximators
5.2.1. Suture-based devices
5.2.2. Clip-based devices
5.3. External Hemostatic Devices
6. Global Vascular Closure Devices Market, By Access, 2021-2030 (USD Million)
6.1. Femoral Access
6.2. Radial Access
7. Global Vascular Closure Devices Market, By Procedures, 2021-2030 (USD Million)
7.1. Interventional Cardiology
7.2. Interventional Radiology/Vascular Surgery
8. Global Vascular Closure Devices Market, By Geography, 2021-2030 (USD Million)
8.1. North America
8.1.1. US
8.1.2. Canada
8.2. Europe
8.2.1. Germany
8.2.2. UK
8.2.3. France
8.2.4. Italy
8.2.5. Spain
8.2.6. Rest of Europe
8.3. Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. Rest of Asia-Pacific
8.4. Rest of the World
8.4.1. Latin America
8.4.2. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Market Share Analysis, By Key Players (2021)
9.3. Competitive Scenario
9.3.1. Product Launches
9.3.2. Partnerships, Collaborations and Agreements
9.3.3. Acquisitions
9.3.4. Expansions
9.3.5. Other Developments
10. Company Profiles
10.1. Abbott, Cardinal Health
10.2. Advanced Vascular Dynamics
10.3. Boston Scientific Corporation
10.4. Cardiva Medical, Inc.
10.5. Marine Polymer Technologies, Inc.
10.6. Medas USA
10.7. Medtronic
10.8. Meril Life Sciences Pvt. Ltd.
10.9. Merit Medical Systems, Inc.
10.10. Morris Innovative, Inc.
10.11. Rex Medical
10.12. Scion BioMedical
10.13. Teleflex Incorporated
10.14. Terumo Corporation
10.15. Transluminal Technologies
10.16. Tricol Biomedical
10.17. TZ Medical
10.18. Vasorum Ltd.
10.19. Vivasure Medical Ltd.
10.20. Vygon Company
11. Appendix
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
