Vascular Closure Devices Market to Reach ~USD 1 Billion Valuation, Innovation Crucial for Growth: TMR

Passive approximators segment, femoral access segment are set to lay claim to a sizeable share of the market under the product and access type category, respectively

Asia-Pacific (APAC) will record a CAGR of 8% over the forecast period; North America and Europe will account for a substantial revenue share

News provided by

Transparency Market Research

Jul 08, 2020, 08:30 ET

ALBANY, New York, July 8, 2020 /PRNewswire/ -- A large number of patients with CVD mark the face of the planet and it is growing at a steady pace. This is set to translate to an increase in demand for vascular closure devices over the coming few years. This will ensure a robust growth curve is charted by global vascular closure devices market.

Transparency Market Research reveals, "Between 2019 to 2027, the global vascular closure devices market would grow at a compound annual growth rate of about 7%, taking market worth up from USD 0.8 billion in 2018 to about USD 1 billion by 2027."

Key Findings of Global Vascular Closure Devices Market Study:

In intra-arterial procedures, devices with biocompatible stainless steel implants are gaining prominence
Adoption of suture-based closure devices is noted in the market as improved techniques mark the segment; however, these might lose market share over the forecast period
North America would lay claim to a notable share of the market while Asia Pacific would record growth at an impressive rate

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Key Drivers of Growth in Global Vascular Closure Devices Market:

Over the forecast period stated above, the global vascular closure devices market would grow due to the effect of interplay between numerous positive trends and drivers. These are explained in great detail by Transparency Market Research. A glimpse into factors contributing to this growth is provided below:

There is a marked increase in demand for minimally invasive procedures, particularly heart surgeries, driving demand for vascular closure devices across the world
Incidence of cardiovascular diseases is increasing due to sedentary lifestyle and poor dietary choices
Obesity is increasing in terms of number of patients worldwide as consumption of alcohol, excessive junk food, and alcohol rises
In 2016, 17.9 million people died of cardiovascular diseases and the numbers are growing significantly every year
Technological advancement and increase in disposable income are also driving market forward
Latest VCDs in the market are set to contribute to growth as they promise improved medical outcomes, driving demand up substantially

For a detailed analysis of global vascular closure devices market by product, access type, application, end-user, and region, visit TOC https://www.transparencymarketresearch.com/report-toc/13565

Regional Analysis of Global Vascular Closure Devices Market:

North America to hold a sizeable share of the global vascular closure devices market owing to increase in incidence of CVD, rapidly ageing population
Asia Pacific to chart a high growth rate of 8% over the forecast period owing to presence of non-invasive treatment options, increase in disposable income

Analyze global vascular closure devices market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=13565

Competitive Landscape of Global Vascular Closure Devices Market:

The most distinguished global vascular closure devices market players have been profiled in detail by Transparency Market Research. These include Terumo Medical Corporation, Cardinal Health, Abbott, Cardiva Medical, Inc., Medtronic plc, BIOTRONIK, Teleflex Incorporated, Tricol Medical, Merit Medical Systems, Inc., and Z-Medica, LLC, among others.

In the competitive vendor landscape of global vascular closure devices market, a slew of strategies are noted as deployed by players aiming at higher growth. Some of the top strategies include product development with a keen focus on innovation and forging key alliances. Therefore mergers and acquisitions, and partnerships and collaborations, which are based on mutual synergies, are not uncommon to witness in the global vascular closure devices market.

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Global Vascular Closure Devices Market: Segmentation

Vascular Closure Devices Market, by Product

Passive Approximators

Collagen Plugs
Sealant or Gel-based Devices
Compression-assist Devices

Active Approximators

Suture-based Devices
Clip-based Devices
External Hemostatic Devices

Vascular Closure Devices Market, by Access Type

Femoral Access
Radial Access

Vascular Closure Devices Market, by Application

Cardiac Interventions
Cerebrovascular Interventions
Peripheral Vascular Interventions
Others

Vascular Closure Devices Market, by Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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