According to IMARC Group's latest research report, titled "Vascular Closure Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the industry, which comprises insights into the vascular closure devices market growth rate. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global vascular closure devices market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.
Vascular Closure Devices Market Overview:
Vascular closure devices are medical devices designed to seal punctures or incisions made in blood vessels during minimally invasive procedures, such as cardiac catheterization or angiography. These devices offer an alternative to manual compression, allowing for faster hemostasis and reducing the risk of bleeding complications. Vascular closure devices typically consist of biocompatible materials, such as collagen or synthetic polymers, and come in various designs, including clips, plugs, and sutures. They are deployed at the site of vascular access and facilitate the closure of the arteriotomy, promoting patient comfort and faster ambulation post-procedure. Vascular closure devices have become standard practice in interventional cardiology and radiology, contributing to improved patient outcomes and shorter hospital stays following minimally invasive vascular procedures.
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Vascular Closure Devices Market Trends:
The global market is majorly driven by the increasing prevalence of cardiovascular diseases, coupled with the growing adoption of minimally invasive procedures. As the number of percutaneous coronary interventions (PCIs), cardiac catheterizations, and peripheral vascular interventions rises, healthcare providers seek efficient and effective methods to achieve hemostasis and minimize complications post-procedure. Moreover, the aging population and the rise in lifestyle-related risk factors such as obesity and hypertension contribute to the demand for VCDs, as these patients often require cardiovascular interventions. Additionally, advancements in VCD technology, such as the development of bioresorbable closure devices and devices with enhanced hemostatic properties, drive market growth by offering improved safety, efficacy, and patient comfort. Furthermore, the shift towards same-day discharge protocols and outpatient procedures in interventional cardiology and radiology settings increases the demand for VCDs that enable rapid hemostasis and early ambulation. Regulatory approvals and endorsements from professional societies further bolster market expansion by instilling confidence in the safety and efficacy of VCDs among healthcare providers.
Competitive Landscape with Key Players:
Abbott Laboratories
Cardiva Medical Inc. (Haemonetics Corporation)
Cordis Corporation (Cardinal Health Inc.)
ENDOCOR GmbH & Co. KG
Merit Medical Systems Inc.
Morris Innovative Inc.
Teleflex Incorporated
Terumo Medical Corporation (Terumo Corporation)
Transluminal Technologies LLC
Vasorum Ltd.
Key Market Segmentation:
Product Insights:
Passive Approximators
Collagen Plugs
Sealant or Gel-Based Devices
Compression-Assist Devices
Active Approximators
Suture-Based Devices
Clip-Based Devices
External Hemostatic Devices
Access Insights:
Femoral Access
Radial Access
Procedure Insights:
Interventional Cardiology
Interventional Radiology/Vascular Surgery
End-User Insights:
Hospitals
Ambulatory Surgical Centers
Others
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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