Vascular Closure Devices Market Worth $1.3 billion by 2026 – Emerging Trends, Top Growing Segments and Future Industry Developments

Vascular Closure Devices Market Worth $1.3 billion by 2026 - Emerging Trends, Top Growing Segments and Future Industry Developments
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)
Global vascular closure devices market is projected to reach USD 1.3 billion by 2026, at a CAGR of 7.0% during the forecast period.

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

  • CAGR of the market during the forecast period 2021-2026
  • Detailed information on factors that will drive Vascular Closure Devices Market growth during the next 5 years
  • Precise estimation of the Vascular Closure Devices Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the Vascular Closure Devices industry across North America, Europe, APAC, South America, the Middle East, and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Vascular Closure Devices Market vendors.

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

  • Passive Approximators
  • Active Approximators
  • External Hemostatic Devices

By Access

  • Femoral Access
  • Radial Access

By Procedure

  • Interventional Cardiology
  • Interventional Radiology/Vascular Surgery

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

Recent Developments:

  • Vivasure Medical Ltd. (Ireland) announced the development of its product, PerQseal Blue. This product is a large-bore vascular closure device used after interventional cardiovascular procedures.
  • Abbott (US) acquired Walk Vascular, LLC (US) to expand its portfolio of peripheral vascular devices.
  • Teleflex Incorporated (US) acquired Z-Medica, LLC (US), an industry-leading manufacturer of hemostatic products that will lead to revenue growth for the company by expanding its product portfolio in the Interventional segment.
  • Cardinal Health (US) launched MYNX Control, a sealant or gel-based device with extravascular sealing and resorbability properties.

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