Vascular closure devices are medical devices used to close puncturing sites after catheterization procedures. The puncturing sites are usually made in the femoral artery and vein for catheterization procedures such as angiography, angioplasty, and others. These devices are designed to reduce the time of the procedure by quickly and safely closing the puncture sites, preventing the accumulation of blood in the punctured area, and reducing the risk of complications associated with catheterization.
The global vascular closure devices market is expected to witness significant growth during the forecast period. This can be attributed to the increasing use of these devices in cardiovascular procedures, rising geriatric population, and technological advancements in the field of medical device manufacturing. Furthermore, the increasing number of medical device companies and product launches are likely to drive the market growth.
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Global Vascular Closure Devices Market – Key Findings of the Report
The market is segmented on the basis of product type, end user, and region. Based on product type, the market is divided into manual closure devices, active closure devices, and suture-based closure devices. The active closure devices segment is expected to register the highest CAGR during the forecast period. This can be attributed to the increasing use of these devices for catheterization procedures, such as angiography and angioplasty.
On the basis of end user, the market is divided into hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment is expected to account for the highest share of the market during the forecast period, owing to the increasing number of cardiovascular procedures conducted in these centers.
Regionally, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the market during the forecast period, owing to the increasing number of catheterization procedures and the presence of several prominent players in the region.
Key Market Players
The global vascular closure devices market is consolidated. The prominent players operating in this market include Terumo Corporation (Japan), Abbott (US), Cardinal Health (US), Cardiva Medical, Inc. (US), Medtronic Plc (Ireland), Morris Innovative, Inc. (US), Teleflex Incorporated (US), Merit Medical Systems, Inc. (US), Vasorum Ltd. (Ireland), TZ Medical, Inc. (US), Vivasure Medical Ltd. (Ireland), Tricol Biomedical (US), Scion Biomedical (US), Advanced Vascular Dynamics (US), Marine Polymer Technologies, Inc. (US), and Rex Medical (US).
Terumo Corporation (Japan) is a leading player in the vascular closure devices market, with a market share of 33.4%. The company’s large share can be attributed to its broad range of vascular closure devices. The company has two distribution channels—direct to customers (healthcare professionals and/or facilities) and sales through distributors. The company has a strong presence in Japan and has established business channels primarily in Europe and the Asia Pacific.
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This report categorizes the vascular closure devices market into the following segments and subsegments:
By Type
By Access
By Procedure
By Region
Recent Developments:
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