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  • Vascular Closure Device Market Analysis | 2022-2028

    Vascular Closure Device Market Analysis | 2022-2028

    Vascular Closure Device Market Analysis | 2022-2028
    Report code - SR1677 Delivery - 2 Weeks
    Vascular Closure Device Market Size, Share, Trend, Forecast, Competitive Analysis, and Gro See more...

    Market Highlights

    The Vascular Closure Device Market is expected to grow from USD 0.96 billion in 2021 to USD 1.56 billion by 2028 at a CAGR of 7.16% during the forecast period.

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    What are vascular closure devices?

    Vascular Closure Devices (VCDs) are medical devices that are used in sealing puncture of the femoral artery in patients who have undergone interventional procedures or diagnostic angiography procedures. These devices offer immediate sealing of the femoral artery access site which is not the case with manual or mechanical compression.

    Market Drivers

    Increasing incidents of cardiovascular disease across the globe is a key factor bolstering product demand. Also, a shift of medical facilities toward minimally invasive procedures coupled with the usage of imaging technologies & radiotherapy has created lucrative growth opportunities for the market players. Moreover, the deployment of imaging technologies to monitor cardiac functions is likely to further increase the demand for heart surgeries, thus boosting the industry's growth in the coming years.

    Segments Analysis

    By Device Type

    The global vascular closure device market has been classified into passive approximators, active approximators, and external hemostatic devices. Under these, the active approximators segment held the largest market share of >55% in 2021 and is likely to grow at a considered CAGR during the forecast period. Active vascular closure device uses different methods for direct closure of the artery entry site by using sutures or collagen-based products. Moreover, growing product availability catering to a larger population offers revenue generation avenues, thus bolstering the segment growth.

    Regional Analysis

    The vascular closure device market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North American market held a significant market share of almost >40% in 2021 and is projected to grow at a healthy CAGR in the coming years. Rising healthcare expenditure, favorable reimbursement scenario, and growing hospitalizations associated with cardiovascular diseases boost the patient inflow in facilities and further augment the regional market growth.

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    Key players

    The key players operating in the vascular closure device market are:

    • Terumo (Japan)
    • Abbott Laboratories (US)
    • Cordis (US)
    • Cardiva Medical (US)
    • Medtronic (Ireland)
    • Morris Innovative (US)
    • Essential Medical (US)
    • Merit Medical (US)
    • Vasorum (Ireland)
    • TZ Medical (US).

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Vascular Closure Device Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Target Audience

    Here is the list of the group of customers that the vascular closure device market hopes to have the greatest opportunity to convert-

    • Vascular Closure Device companies
    • Vascular Closure Device distributors
    • Medical companies
    • Government organizations

    Covid-19 Impact

    The COVID-19 pandemic has moderately affected the vascular closure device industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The vascular closure device market is estimated to grow at a healthy CAGR of 7.16% over the next five years.

    The vascular closure device market size is likely to reach USD 1.56 billion in 2028.

    North America is likely to maintain its supremacy and grow at a healthy CAGR in the market throughout the forecast period.

    The active approximators segment held the largest share in the market in 2021.

    Vascular closure device companies, Vascular closure device distributors, Medical companies, and Government organizations are the target audience in the market.

    Terumo (Japan), Abbott Laboratories (US), Cordis (US), Cardiva Medical (US), Medtronic (Ire-land), Morris Innovative (US), Essential Medical (US), Merit Medical (US), Vasorum (Ireland), and TZ Medical (US) are among the key players in the market.

    The market is studied from 2016-2028.