Global Vascular Closure Device Market By Type (Passive Approximators, Active Approximators, External Hemostatic Devices), Access (Femoral Access, Radial Access), Procedure (Interventional Cardiology, Interventional Radiology/Vascular Surgery), Distribution Channel (Direct Tenders, Retail), Application (Diagnostic Intervention, Therapeutic Intervention), End User (Hospitals & Clinics, Specialty Centers, Ambulatory Surgery Centers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast To 2026
Market Analysis: Global Vascular Closure Device Market
Global vascular closure device market is registering a substantial CAGR of 7.79% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed to the surging preferences towards the non-invasive procedures with new and upgraded technological developments in medical imaging which is expected to grow the market of vascular closure devices.
Market Definition: Global Vascular Closure Device Market
Vascular closure device is a piece of collagen or suture which is designed for sealing of puncture made in the artery after an angiogram. This device is used by the specialist doctors. It has no after or side effects on the body of the patient. The insertion process of VCDs approximately takes 5 minutes. It reduces the recovery time after the surgical procedure. It has also improved patient satisfaction. It has a high efficiency rate as compared to traditional methods. Its main purpose is to make availability of rapid hemostasis of the artery as well as reduce complications.
- The vascular closure devices approvals number has surged which is driving the growth of the market
- The cardiovascular disease has high prevalence is boosting the growth of the market
- Surging prevalence of obesity is propelling the growth of the market
- The rising focus of market players on large-bore vascular closure devices is fueling the growth of the market
- The rising demand for minimally invasive solutions is contributing to the growth of the market
- The rising preference for interventional procedures using radial artery access is restraining the growth of the market
- The cost of vascular closure devices is much higher which hinders the market growth
- The failures and recalls of the product is hampering the growth of the market
Segmentation: Global Vascular Closure Device Market
- 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
By Distribution Channel
- Direct Tenders
- Diagnostic Intervention
- Therapeutic Intervention
BY End User
- Hospitals and Clinics
- Specialty Centers
- Ambulatory Surgery Centers
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2018, Terumo Corporation has announced that it is acquiring the large bore vascular closure device business of Medeion Biodesign Inc. This acquisition will expand the business of Terumo Corporation as well as its share in the market in this fast growing segment.
- In January 2017, Terumo Corporation had acquired some of the assets which are owned by Abbott and St. Jude Medical. It has acquired vascular closure product lines of Angio-Seal and FemoSeal. This acquisition will expand the product lines of the company will increase the sales of the company.
Vascular closure device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares vascular closure device market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global vascular closure device market are Abbott, Merit Medical Systems, Transluminal Technologies Inc., Terumo Corporation, Medtronic, Hemostasis LLC, Vasorum Ltd., Tricol Biomedical, ENDOCOR GmbH, Cardinal Health, Teleflex Incorporated, TZ Medical Inc., Semlar Technologies Inc., Cardivial Medical Inc., Vivasure Medical Ltd., Marine Polymer Technologies Inc., B. Braun Melsungen AG, Biotronik, Inc. , BD and W.L. Gore & Associates among others.
Research Methodology: Global Vascular Closure Device Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global vascular closure device market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)