NEW YORK, May 31, 2017 Highlights
- The global vascular closure devices market is expected to reach USD 984.6 million by 2022 from USD 704.8 million in 2017, at a CAGR of 6.9%.
- The market is segmented on the basis of type, access, procedure, and geography.
- The type segment includes passive approximators, active approximators, and external hemostasis devices.
- The passive approximators segment is expected to account for the largest share of the vascular closure devices market in 2017.
The global vascular closure devices market is expected to reach USD 984.6 million by 2022 from USD 704.8 million in 2017, at a CAGR of 6.9%.
The market is segmented on the basis of type, access, procedure, and geography. The type segment includes passive approximators, active approximators, and external hemostasis devices. The passive approximators segment is expected to account for the largest share of the vascular closure devices market in 2017. Passive approximators are the most commonly used vascular closure devices in the market owing to their increased safety and fewer complications than manual procedures.
On the basis of procedures, the vascular closure devices market includes interventional cardiology and interventional radiology/vascular surgery. The interventional cardiology segment is expected to hold the largest share of the market in 2017. This can primarily be attributed to the rapidly increasing obese population and the high prevalence of cardiovascular diseases across the globe.
The access segment includes femoral and radial. The femoral access segment is estimated to account for the largest share of the market in 2017 owing to fewer complications involved during arterial access and the preference of cardiologists and physicians for conducting interventional procedures through femoral access.
Acquisitions and product approvals were the dominant strategies adopted by key industry participants to increase their market shares and cater to unmet needs. Major players include Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), and Cardiva Medical Inc. (U.S.). Other players include Morris Innovative, Inc. (U.S.), Medtronic plc (Ireland), Essential Medical, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland).
This report studies the vascular closure devices market based on type, access, procedure, and geography. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report also forecasts the revenues of the market segments with respect to four main regions.
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The report will enable both established firms and new entrants to gauge the pulse of the market and help them make important strategic growth decisions.
The report provides insights on the following:
- Product Development/Innovation: Product portfolios of the top players in the vascular closure devices market and detailed insights on the upcoming technologies, R&D activities, and product launches
- Competitive Assessment: In-depth assessment of market shares, strategies, geographic and business segments, and product portfolios of the leading players in the vascular closure devices market
- Market Development: Comprehensive information about lucrative emerging markets the report analyzes the market for various vascular closure devices across geographies
- Market Diversification: Exhaustive information about new products, recent developments, and investments in the vascular closure devices market
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