Vascular Closure Devices Market to Rise at a CAGR of 7% during Forecast Period, observes TMR Study

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Sep 14, 2022, 04:30 ET

Market players are developing solutions that close arterial puncture wounds following vascular procedures employing percutaneous coronary intervention (PCI) catheters. Such innovations are expected to propel the market.
In the global market for vascular closure devices, specialty-focused solutions are becoming more prominent

WILMINGTON, Del., Sept. 14, 2022 /PRNewswire/ -- Analysis of vascular closure devices market anticipate the market to progress at ~7% CAGR during the forecast period, from 2019 to 2027. The global vascular closure devices market size is projected to touch value of around US$ 1 Bn by 2027. In the market for vascular closure devices, options with a specialty emphasis are becoming more popular. Specialty-focused solutions are assisting health professionals around the world to enhance patient quality of life and health, which is projected to stimulate market demand for vascular closure devices. For instance, Teleflex declared to demonstrate their MANTA® vascular closure device at the 2019 PCR London Valves-a cross-disciplinary training being held in London. The development of solutions that streamline complicated processes and remove obstacles brought on by frequent procedural difficulties is becoming a bigger priority for businesses.

Following percutaneous coronary intervention (PCI) catheter-based vascular treatments, manufacturers in the vascular closure devices market are developing solutions that seal arterial puncture wounds. As a result, vascular closure devices market forecast that the income from peripheral vascular procedures would rise significantly throughout the forecast period.

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Key Findings of Market Report

Other intra-arterial treatments requiring vascular closure devices include arterial stents, balloon angioplasty, and interventional or diagnostic catheterization procedures. In order to produce biocompatible stainless-steel implants, Key players in vascular closure devices market are expanding their production capacity. They are stepping up research and development activities to create implants that can be used both outside and inside of the femoral artery puncture site.
Due to their widespread application in vessel closure, the passive approximators category led the market in terms of products in 2018. This trend is expected to continue during the forecast timeframe.
In 2018, the femoral access category held the greatest market share when segmented by access type. Since femoral access site closure devices are becoming more widely available, the femoral access category is estimated to lead the market throughout the projected timeframe.
Due to an increasing occurrence of cardiovascular disorders, the category of cardiac interventions, which currently dominates the application market, is anticipated to keep growing throughout forecast timeframe. By 2035, the American Heart Association predicts that more than 130 million individuals in the U.S. will have cardiovascular problems. Such high incidence of cardiovascular diseases is likely to drive global vascular closure devices market.

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Global Vascular Closure Devices Market: Growth Drivers

Due to a rise in occurrences of heart disease and associated consequences throughout the projection period, the hospitals category is projected to maintain its dominant position depending end users.

Global Vascular Closure Devices Market: Key Players

Some of the key market players are

Merit Medical Systems, Inc.
Terumo Medical Corporation
Teleflex Incorporated
Cardiva Medical, Inc.
Z-Medica, LLC
Cardinal Health, Inc.

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Global Vascular Closure Devices Market: Segmentation

Product

Passive Approximators
Active Approximators
External Hemostatic Devices

Access Type

Femoral Access
Radial Access

Application

Cardiac Interventions
Cerebrovascular Interventions
Peripheral Vascular Interventions
Others

End User

Hospitals
Ambulatory Surgical Centers
Cardiac Catheterization Laboratories

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