The global vascular closure devices market is projected to reach USD 1.3 billion by 2026 from USD 0.9 billion in 2021, at a CAGR of 7.0% during the forecast period. The growth in this market can be attributed to a large number of approvals for vascular closure devices, high prevalence of cardiovascular diseases, increasing prevalence of obesity, increasing focus of market players on large-bore vascular closure devices, growing geriatric population, favorable reimbursement scenario for interventional radiology procedures, and rising focus on effective blood loss management in patients during surgeries.
To know about the assumptions considered for the study download the pdf brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=180101468
Browse in-depth TOC on “Vascular Closure Devices Market”
151 – Tables
31 – Figures
183 – Pages
Emerging markets providing growth opportunities for market players and growth in the number of hospitals & surgical centers are expected to offer strong growth opportunities for players in the market. In contrast, the need for highly skilled professionals, risks associated with vascular closure devices and stringent regulatory framework may challenge market growth to a certain extent. The vascular closure devices market is segmented based on type, access, procedure, and region.
Vascular closure devices (VCDs) are medical devices used to achieve hemostasis (the stopping of bleeding) at the puncture site after catheterization procedures, such as angiography and percutaneous coronary intervention (PCI). These devices are designed to reduce the time it takes for patients to recover after these procedures and minimize the risk of complications associated with prolonged bleeding.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=180101468
Key Market Players
The prominent players operating in this market include The global vascular closure devices market is consolidated. The top five companies in this market are 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.
Abbott (US) accounted for the high share of the vascular closure devices market. The company’s portfolio of vascular closure devices consists of suture-based devices, clip-based devices, and compression assist devices.
Cardinal Health (US) held the third position in the vascular closure devices market in 2020. This can be attributed to its strong brand recognition and comprehensive suite of vascular closure devices, such as MYNX Control, MYNX Grip, EXOSEAL, and Zephyr. A majority of the company’s sales are generated from the US, and only 3% of the sales are generated outside the US. The company could focus on emerging markets for future growth.
North America was the largest regional market for the vascular closure devices market
North America dominated the global vascular closure devices market, followed by Europe. The large share of the North American market can be attributed to the rising prevalence of cardiovascular diseases, the growing trend of one-day surgeries for vascular procedures, increasing research and clinical trials for vascular closure devices in the US, the increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Canada.
Directly Purchase a copy of the report [183] @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=180101468
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/vascular-closure-device-market-180101468.html