Market Forecast 2023-2031:

The Global Vascular Closure Device (VCDs) Market size was valued at USD 1.4 billion in 2022 and is projected to expand at a CAGR of 6.9% from 2023 to 2031. Vascular closure devices are medical tools used to seal the tiny hole in the artery after endovascular surgery that requires catheterization for a cardiovascular treatment. These devices help in closing the artery puncture site to prevent bleeding and minimize the risk of complications.

The market for VCDs is driven by the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures. The rising geriatric population, coupled with the increasing adoption of advanced medical technologies, is also contributing to the growth of the market.

The market is segmented based on product type, end-user, and region. The product type segment includes active closure devices, passive closure devices, and accessories. The end-user segment includes hospitals, ambulatory surgical centers, and others.

North America dominates the VCDs market, followed by Europe, Asia-Pacific, and the rest of the world. Factors such as the increasing prevalence of cardiovascular diseases, the presence of key market players, and favorable government initiatives are driving the growth of the VCDs market in North America and Europe.

Some of the key players in the VCDs market include Abbott Laboratories, Cardinal Health, Inc., Terumo Corporation, Teleflex Incorporated, and others. These companies are focusing on product launches, strategic collaborations, and partnerships to strengthen their position in the market.

Overall, the VCDs market is expected to continue growing as the demand for minimally invasive procedures and advanced medical technologies increases, and the prevalence of cardiovascular diseases continues to rise.

Scope of Vascular Closure Device Market Report:

A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Vascular Closure Device Market. On the basis of historic growth analysis and current scenario of Vascular Closure Device market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Vascular Closure Device market. This further helps users with their developmental strategy.

This report examines all the key factors influencing growth of global Vascular Closure Device market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Vascular Closure Device market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.

The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

Market Drivers:

There are several factors driving the growth of the Vascular Closure Device (VCDs) market:

Increasing prevalence of cardiovascular diseases: The rising incidence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is driving the demand for VCDs. According to the World Health Organization, cardiovascular diseases are the leading cause of death globally, accounting for an estimated 17.9 million deaths each year.

Growing demand for minimally invasive procedures: VCDs are increasingly being used in minimally invasive procedures, which are becoming more popular among patients and healthcare providers due to their shorter recovery time, reduced pain, and fewer complications.

Rising geriatric population: The aging population is more susceptible to cardiovascular diseases, and as the population ages, the demand for VCDs is expected to increase.

Technological advancements: Advancements in VCD technology have resulted in devices that are safer and more effective, with improved patient outcomes. For example, newer VCDs feature a smaller profile, reducing the risk of vascular complications.

Favorable government initiatives: Governments around the world are implementing policies to encourage the adoption of minimally invasive procedures and improve healthcare outcomes. This is expected to drive the growth of the VCDs market in the coming years.

Market Trends:

Increasing adoption of robotic-assisted procedures: Robotic-assisted operations are being used more and more frequently as a result of the creation of devices that can help with vascular interventions, such as the placement of VCDs. These methods provide more control and precision, which lowers the possibility of complications.

Outpatient procedures on the rise: Bioresorbable VCDs are in greater demand as a result of their propensity to degrade naturally over time in the body without the need for surgical removal. This can lower the possibility of long-term complications while also enhancing patient satisfaction.

Shift towards outpatient procedures: Because of their convenience and affordability, outpatient procedures, which can be completed in ambulatory surgery centers or doctor's offices, are growing in popularity. The demand for VCDs that work in these environments is anticipated to increase as a result of this tendency.

Increasing focus on patient safety: Patient safety is receiving more attention from VCD makers, who are creating tools that can lower the risk of complications like bleeding and infection. This involves the advancement of better methods for hemostasis and infection control.

Emergence of telemedicine: Telemedicine's development has been accelerated by the COVID-19 pandemic, enabling patients to receive treatment remotely. Manufacturers of VCDs are anticipated to keep on with this tendency by creating instruments that can be used in telemedicine-enabled procedures.

Restraining Factors:

Even though vascular closure devices offer so many benefits, a few complications are faced by the patients after their use, including hematoma formation, repeated bleeding, arterial dissection retroperitoneal bleeding, and even severe disorders like pseudoaneurysm after collagen plug insertion, which may even lead to higher infection rates.

On the other hand, issues causing product recalls, one of the main factors impeding market expansion, include poor quality, device failures, and a shortage of devices. The development of these goods is also hampered by other elements, such as product replacements and businesses casting a bad light on themselves.

Report Coverage:

The report will cover the qualitative and quantitative data on the vascular closure devices market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Each company profile includes information on their business overview, financials, product portfolio, recent developments, and strategies. These profiles provide a comprehensive understanding of the competitive landscape of the VCDs market and the strategies adopted by key players to maintain their market position.

Report Scope and Segmentations:

Key Players Strategies in the Market:

According to geography, North America vascular closure devices market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2023-2031 owing to the raising predominance of cardiovascular diseases involving the application of hemostatic devices in cardiovascular devices in the North American region.

The market for vascular closure devices is expanding as a result of the rising popularity of femoral artery cardiac catheterization and the high success rate of these devices in enhancing patient satisfaction and speeding up hemostasis. However, in the developing regions of South America and Asia-Pacific, determinants like the soaring price of products, complexities linked with vascular closure devices, and lesser acceptance rates of new technologies are some of the major factors hampering the growth of the Vascular Closure Device (VCDs) Market.

The Vascular Closure Device (VCDs) Market report will provide a detailed analysis of the strengths, weaknesses, and opportunities of the key players working in the market. 

Companies Analysis:

The following is a list of companies in the Vascular Closure Device (VCDs) market report:

• Merit Medical Systems, Inc.
• Biotronik GMBH & CO.KG
• Boston Scientific Corporation
• R. Bard, Inc
• W L. Gore & Associates
• JUDE MEDICAL
• TZ Medical, Inc.
• Scion BioMedical
• Abbott Laboratories
• Cardinal Health Inc.
• Cardiva Medical, Inc.
• Essential Medical, Inc.
• Marine Polymer Technologies, Inc.
• Medtronic plc
• Merit Medical Systems, Inc.
• Morris Innovative, Inc.
• Terumo Corporation
• Vasorum Ltd.
• Teleflex Incorporated
• Tricol Medical
• COOK Medical

Players & Competitor Analysis:

The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2022-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Segmentation Analysis:

By Type:

The Vascular Closure Device (VCDs) market can be segmented by type of device, including:

Passive closure devices: Passive closure devices are designed to promote hemostasis by applying pressure to the arterial puncture site. These devices include mechanical clamps, sutures, and plugs.

Active closure devices: Active closure devices use a mechanism, such as a clip or suture, to actively close the puncture site. Some active closure devices also use an external collagen plug to promote hemostasis.

External hemostatic devices: External hemostatic devices are applied externally to the puncture site and use a gel, foam, or other material to promote hemostasis. These devices are typically used in conjunction with manual compression.

The passive closure devices segment is the largest in terms of market share, as these devices have been in use for many years and are often less expensive than active closure devices. However, the active closure devices segment is expected to grow at a faster rate due to the development of more advanced and effective devices, such as vascular closure clips that can be placed with greater precision and control. The external hemostatic devices segment is also expected to grow, particularly in conjunction with manual compression or as a backup option in case of VCD failure

By Application:

The Vascular Closure Device (VCDs) market can also be segmented by application, including:

Cardiovascular procedures: This segment includes procedures such as percutaneous coronary interventions (PCIs), which are commonly used to treat coronary artery disease.

Peripheral procedures: This segment includes procedures such as angioplasty and stenting of peripheral arteries, which are used to treat conditions such as peripheral artery disease (PAD).

Neurovascular procedures: This segment includes procedures such as cerebral angiography and embolization, which are used to diagnose and treat conditions such as stroke and aneurysms.

Others: This category includes procedures such as dialysis access and biopsy procedures.

The cardiovascular procedures segment is the largest in terms of market share, as these procedures are the most common application for VCDs. However, the peripheral procedures segment is expected to grow at a faster rate due to the increasing prevalence of PAD and the development of new devices designed specifically for peripheral interventions.

By End Users:

The Vascular Closure Device (VCDs) market can also be segmented by end-users, including:

Hospitals: Hospitals are the largest end-user segment for VCDs, as they perform the majority of cardiovascular, peripheral, and neurovascular procedures.

Ambulatory Surgical Centers (ASCs): ASCs are outpatient facilities that provide surgical services, including many types of cardiovascular and peripheral procedures. ASCs are becoming an increasingly popular setting for these procedures due to their lower costs and shorter recovery times.

Specialty Clinics: Specialty clinics, such as those focused on cardiovascular or neurovascular care, may also use VCDs for certain procedures.

Others: This category includes emergency medical services, diagnostic imaging centers, and other healthcare providers.

The hospitals segment is expected to continue to be the largest end-user segment for VCDs, due to the high volume of procedures performed in these settings. However, the ASCs segment is expected to grow at a faster rate, as more procedures are performed in outpatient settings and as ASCs become more widely available.

The report also helps in understanding Global Vascular Closure Device Market dynamics, structure by analyzing the market segments, and project the Global Vascular Closure Device Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Vascular Closure Device Market make the report investor’s guide.

Regional Snapshots:

The vascular closure device (VCDs) market can be divided into several regions, each with its own unique characteristics and trends:

North America: North America is the largest market for VCDs, due to the high prevalence of cardiovascular disease and the availability of advanced healthcare facilities. The market in North America is expected to continue to grow, driven by factors such as increasing adoption of minimally invasive procedures and a growing elderly population.

Europe: Europe is the second-largest market for VCDs, with a well-established healthcare system and high levels of healthcare spending. The market in Europe is expected to grow at a moderate rate, driven by factors such as increasing demand for minimally invasive procedures and technological advancements in VCDs.

Asia Pacific: Asia Pacific is the fastest-growing market for VCDs, due to factors such as a large and rapidly aging population, increasing healthcare spending, and improving healthcare infrastructure. The market in Asia Pacific is expected to continue to grow rapidly, particularly in countries such as China and India.

Middle East and Africa: The market for VCDs in the Middle East and Africa is expected to grow at a moderate rate, driven by factors such as increasing demand for minimally invasive procedures and improving healthcare infrastructure.

Latin America: The market for VCDs in Latin America is expected to grow at a moderate rate, driven by factors such as increasing demand for cardiovascular and peripheral procedures and improving healthcare infrastructure.

Overall, the VCDs market is expected to grow globally, driven by factors such as increasing adoption of minimally invasive procedures, growing prevalence of cardiovascular and peripheral diseases, and technological advancements in VCDs

Vascular Closure Device Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Industry Developments:

Due to the presence of several local, regional, and established global players, the global vascular closure devices market is extremely competitive. To capitalize, concentrate on tactics such as new product launches and approvals, R&D investments, mergers, partnerships, collaborations, and acquisitions.

• In July 2021, Terumo Corporation declared the introduction of the Dexcom G6 continuous glucose monitoring (CGM) system in Japan. U.S.-based Dexcom, Inc., makes the product, and Terumo holds the exclusive distribution agreement in Japan since their partnership in 2018. A CGM system is a medical device that backs diabetes regulation.
• In December 2020, Cook Medical declared the introduction of a novel Customer Portal to offer an improved digital and self-serve customer experience. This user-friendly Customer Portal provides numerous characteristics, certain vary relying on region, which provide customers information and interactive operations. The Customer Portal has been introduced in the U.S. and EMEA regions earlier this year and is presently being launched to their clients in the Asia-Pacific region.
• In April 2020, Abbott has introduced its third test for coronavirus (COVID-19) and is transporting tests to hospitals across the U.S. The test is a serology test – also termed an antibody test – which could be a crucial next step in combating this virus. Abbott's test assists to discover the IgG antibody to SARS-CoV-2.
• In September 2022, Haemonetics Corporation, for its Cascade Closure and Cascade MVP Venous Vascular Closure systems product, received CE Mark certification for the welfare of healthcare.
• In Jun 2022, Teleflex enrolled the first patient in Manta vascular closure device to demonstrate the safety of Manta's ultrasound-guided closure, in the study, without relying on depth location measurements before the procedure. •
• In May 2022, Vivasure Medical, a pioneer in technology for percutaneous vessel closure, closed the first tranche of 22 million dollars, led by a strategic multinational company.
• In November 2020, Boston Scientific Corporation started the CHAMPION-AF clinical trial to estimate the WATCHMAN FLX Left Atrial Appendage Closure (LAAC) safety and efficiency. The device is exclusively for a wide range of patients with non-valvular atrial fibrillation.
• In July 2019, Medtronic India Pvt Ltd. disclosed the introduction of the VenaSeal Closure System. The system is a minimally invasive procedure using a medical adhesive to close the blocked veins in patients with the chronic venous disease (CVD).

Research Scope of Vascular Closure Device Market:

• Historic year: 2018- 2021
• Base year: 2022
• Forecast: 2023 to 2031
• Representation of Market revenue in USD Million

Vascular Closure Device Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: