Market Scenario
Global Vascular Closure Devices Market was valued US$ 705 Mn in 2017 and is expected to reach US$ 1286.5 Mn by 2026, at a CAGR of 7.81 % during a forecast period.
The vascular closure devices market is segmented into product, end user, access, hole size, and region.
In terms of product, vascular closure devices market is segmented into passive approximators and active approximators. Based on end user segment, vascular closure devices market is classified into interventional cardiology, interventional radiology & vascular surgery. Further access, vascular closure devices market is divided into femoral, and radial. In terms of hole size, vascular closure devices market is classified into small hole and large hole. Based on regions, the global vascular closure devices market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
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Global Vascular Closure Devices Market
Vascular closure devices are used to achieve hemostasis after a cardiovascular procedure. In terms of product, Active approximators dominated the VCD industry owing to high-efficiency rate and presence of broad product portfolio in this segment. Also, many companies are focusing on this segment for the release of new products. Passive approximators are the fastest growing segment as they provide reliable and quick hemostasis of vascular access site.
On the basis of the end user, the interventional cardiology segment is expected to dominate the market due to the high prevalence of cardiovascular diseases and the rapidly increasing heavy population.
Based on access, the femoral access segment is estimated to account for the largest share of the market owing to an increasing number of cardiologists and physicians opting for femoral access in interventional procedures, the market is expected to witness significant growth during the forecast period.
High prevalence of cardiovascular diseases, high incidence of obesity and a rising need for minimally invasive procedures are boosting the global vascular closure devices market growth. Additionally, increasing healthcare expenditure and demand for new treatment options along with the rise in government support are expected to drive the growth of the market.
The increasing interventional procedures using radial access, the high cost of vascular closure devices, and the risks associated with vascular closure devices are the major restraints for the market.
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Need for highly skilled professionals is the major challenge for the global vascular closure devices market. Geographically, Asia Pacific is the fastest growing market for the vascular closure devices due to the rising population and increasing standard of living. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.
The key player operating in global vascular closure devices market are Medtronic W.L. Gore, Cook Medical, Boston Scientific, C.R. Bard, Terumo, Abbott Vascular, BTG, Cardinal Health, Philips, Cardiovascular Systems Inc., Sirtex, Maquet, and Endologix.
Scope of Global Vascular Closure Devices Market:
Global Vascular Closure Devices Market, by Product:
• Passive Approximators
• Active Approximators
Global Vascular Closure Devices Market, by End User:
• Interventional Cardiology
• Interventional Radiology & Vascular Surgery
Global Vascular Closure Devices Market, by Access:
• Femoral
• Radial
Global Vascular Closure Devices Market, by Hole Size:
• Large Hole
• Small Hole
Global Vascular Closure Devices Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
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Key player’s operating in Global Vascular Closure Devices Market:
• Medtronic
• W.L. Gore
• Cook Medical
• Boston Scientific
• C.R. Bard
• Terumo
• Abbott Vascular
• BTG
• Cardinal Health
• Philips
• Cardiovascular Systems Inc.
• Sirtex
• Maquet
• Endologix
• Teleflex
