Allied Market Research

2024

Vascular Closure Devices Market

Vascular Closure Devices Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Access and by Procedure : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Medical Devices & Supplies

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Author's: | Roshan Deshmukh
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Vascular closure device (VCD) are collagen pieces, sutures or metallic clip, which have been manufactured to supply immediate sealing of small penetrations in an artery after angiogram is performed. A blood vessel imaging is performed by the angiography of blood vessels, which are visible on pictures or X-ray images. This helps in the detection of abnormalities or disorders and finding out the cure for it. Access to arteries is generally performed via the femoral artery. Femoral arteries can run past all along the groins. These processes take place under the guidance of a specialist doctor after the artery is been penetrated and after a needle is passed through the skin. Once the angiographic procedure is complete, the plastic sheath helps to allow access to the femoral artery after the removal.

Vascular-Closure-Devices

COVID-19 scenario analysis:

  • To take care of the infected population, the demand for medical supplies is increasing. Respiratory support devices, such as atomizer, life-support machine, oxygen generator, and monitor, are among the majorly used medical devices in primary clinical treatment. 
  • Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in the number of COVID-19 cases worldwide, the need for medical supplies keeps on rising both from healthcare professionals and civil populations for precautionary measures. 
  • Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.
  • Attributed to such factors, COVID-19 is expected to have a significant impact on the gamma probe device market.

Top impacting factors: Market scenario analysis, trends, drivers and impact analysis

Rise in FDA approvals for VCD, increase in frequencies of cardiovascular diseases, rise in obesity levels, and rise in focus of manufacturers on large-bore vascular closure devices are the major factors propelling the growth of the vascular closure devices market. These vascular closure devices receive approvals from the FDA, government initiatives, and regulations. Betterment of patient treatment, demand for advanced treatment, rise in number of clinical trials & research activities, and advances in the manufacturers’ new products affect the growth of the vascular closure devices market. The efficiency rate of the devices is improving. Factors, such as improving frequencies of cardiovascular diseases and rise in obesity levels, also drive the growth of the vascular closure devices market.

On the other hand, malfunctioning of the devices, lack of quality products, and performance issues in the devices leading to product recalls & failures are the major challenges faced in the vascular closure devices market. Replacements in products and monetary losses after recalls to the manufacturers affect the growth of the market negatively.

New product launches to boost the market

On November 9th, 2015, Medtronic introduced the VenaSeal closure system in the U.S. This system got approval from the FDA under the Pre-market Approval (PMA) process.

Surge in usage in acute care facility applications

Acute care facilities, clinics, and hospitals are the major consumers of the vascular closure devices market. Amongst them, acute care facilities are the biggest end users in the market. There has also been rise in the case of cardiovascular diseases, which are needed for instant treatment and have made aware about VCDs in acute care treatment. Additionally, the utilization of technologies in imaging, such as echocardiography, in acute care for the CVD propels the market growth.

Key benefits of the report:

  • This study presents the analytical depiction of the vascular closure devices market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the vascular closure devices market share.
  • The current market is quantitatively analyzed to highlight the vascular closure devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the vascular closure devices market research report:

  • Which are the leading market players active in the vascular closure devices market?
  • What are the current trends that will influence the vascular closure devices market in the next few years?
  • What are the driving factors, restraints, and opportunities of the vascular closure devices market?
  • What are the projections for the future that would help in taking further strategic steps?

Vascular Closure Devices Market Report Highlights

Aspects Details
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By Type
  • Passive Approximators
    • Collagen Plugs
    • Sealant- or Gel-based Devices
    • Compression-assist Devices
  • Active Approximators
    • Suture-based Devices
    • Clip-based Devices
    • External Hemostatic Devices
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By Access
  • Femoral
  • Radial
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By Procedure
  • Interventional Cardiology
  • Interventional Radiology/Vascular Surgery
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By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • Latin America  (Brazil, Mexico, rest of LATAM)
  • the Middle East 
  • Africa 
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Key Market Players

Biotronik GMBH & CO.KG, Boston Scientific Corporation, Abbott Vascular, TZ Medical, Inc., ST. JUDE MEDICAL, ESSENTIAL MEDICAL, Inc., C. R. Bard, Inc., Scion BioMedical, Cardinal Health, Medtronic, COOK, Merit Medical Systems, Inc., Cardival Medical, Inc., W L. Gore & Associates

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Vascular Closure Devices Market

Global Opportunity Analysis and Industry Forecast, 2023-2032