Global Vascular Closure Devices Market Experiencing Rapid Growth, Fueled by Technological Innovations

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Oct 03, 2023, 18:45 ET

DUBLIN, Oct. 3, 2023 /PRNewswire/ -- The "Vascular Closure Devices - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Vascular Closure Devices, estimated at US$824.6 million in 2022, is poised for substantial growth, projected to reach a revised size of US$1.4 billion by 2030, with a notable CAGR of 7.3% over the analysis period from 2022 to 2030.

Passive Approximators, a key segment analyzed in the report, are expected to record a robust 8% CAGR, reaching US$996.3 million by the end of the analysis period. Meanwhile, the growth in the Active Approximators segment is estimated at a commendable 6.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $340.6 Million, While China Shows Strong Growth

In the United States, the Vascular Closure Devices market is estimated at US$340.6 million in 2022. China, the world's second-largest economy, is forecast to reach a projected market size of US$154 million by 2030, trailing a remarkable CAGR of 8.6% over the analysis period from 2022 to 2030. Among other noteworthy geographic markets, Japan and Canada are expected to grow at rates of 6.3% and 6.6%, respectively, over the 2022-2030 period. In Europe, Germany is forecasted to grow at an approximate CAGR of 6.9%.

Key Competitors in the Vascular Closure Devices Market

The report highlights key competitors in the Vascular Closure Devices market, including Cardinal Health, Inc., Terumo Corporation, W. L. Gore & Associates, Inc., Teleflex, Inc., Cordis (a Cardinal Health company), Merit Medical Systems, Inc., Elixir Medical Corporation, Tricol Biomedical, Inc., Marine Polymer Technologies, Inc., Axio Biosolutions Private Limited, and Endocor GmbH among others.

Economic Outlook and Market Landscape

The global economic outlook is showing signs of improvement, with growth recovery anticipated in the near term. The United States has navigated challenges, including slowing GDP growth and inflationary pressures, and is on a path to overcoming these hurdles. In the Euro area, easing headline inflation is contributing to increased real incomes and economic activity. China is poised for robust GDP growth as the pandemic subsides and the government shifts its policy stance.

While several challenges persist, such as the ongoing Ukraine conflict, global inflationary pressures, and food and fuel inflation in developing countries, governments are demonstrating resilience. However, efforts to combat inflation through interest rate hikes may impact job creation and economic activity. The regulatory environment is also evolving, with climate change considerations gaining prominence in economic decisions.

In this dynamic landscape, the rise of new technologies, including AI, machine learning, quantum technologies, electrification, renewables, and climate technologies, is set to reshape global investments and contribute significantly to GDP growth.

What's New in the Report?

Special discussions on the global economic climate and market sentiment.
Coverage on global competitiveness and key competitor market shares.
Market presence analysis across multiple geographies.
Online interactive peer-to-peer collaborative bespoke updates.
Access to digital archives and trademarked research platform.
Complimentary updates for one year.
Access to curated YouTube video transcripts featuring insights from CEOs, domain experts, and market influencers.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Vascular Closure Devices - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Vascular Closure Devices - A Prelude
Benefits
Active Approximators
Passive Approximators
External Hemostatic Devices
Vascular Closure Devices to Witness Steady Growth Post COVID-19
Interventional Cardiology to Dominate the Market
Passive Approximators Lead the Market
Femoral Access Type Leads the Market
United States Holds a Dominant Share, Asia-Pacific to Witness Rapid Growth
Competition
Growth Restraints

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Medical Device Companies Focus on Developing Advanced Biomechanical VCDs
Increasing Demand for Large-bore Vascular Closure Devices
Select Large Bore Closure Devices
Cardiovascular Diseases: A Significant Contributor to Market Growth
Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
Global Annual Medical Cost of CVD in US$ Billion (2010-2030)
Rising Preference for Minimally Invasive Procedures Boosts Market Prospects
Aging Population Drives Demand for Vascular Closure Devices
Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
Life Expectancy for Select Countries in Number of Years: 2019
Increasing Healthcare Expenditure to Foster Growth
World Healthcare Expenditure (In US$ Trillion) for the Years 2016 & 2018
Recent Approvals and Launches
Essential Medical Inc Receives FDA Clearance for its Large-Bore Vascular Closure Device
Vascade MVP Vascular Closure System Obtains Approval from FDA
Large Bore PerQseal Closure Device Introduced in Europe
Cordis Introduces Mynx Control Vascular Closure Device
FDA Approves Teleflex's Vascular Closure Device
Vasorum Set to Commercialize a New Vascular Closure Device across the US

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/bgntw4

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