PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1046434
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1046434
According to SPER Market Research, the global vascular closure device market was valued at USD 1.12 Bn in 2021 and estimated to reach USD 1.58 Bn by 2030 with a CAGR of 7.4%. The global burden of cardiovascular disorders causes around 17 Mn deaths per year across the globe. The number of patients with cardiovascular disorder will continue to grow as the geriatric population will increase in coming years.
The upsurge in COVID-19 infections across the world redirect the resources and professionals towards COVID relief thus, compromising with wound care services, and elective surgeries. The temporary denial is notified for all the non-emergent healthcare services. Enforcing of lockdowns, curfews and fear of getting infected restrict the patients to visit hospitals, clinics or OPDs.
By Type, By Access, By Procedure.
North America, Europe, APAC, Latin America, and the Middle East & Africa.
Companies Covered: Abbott, Cardinal Health, Medtronic, TZ Medical, Merit Medical Systems, Inc., Rex Medical, Vygon Company, Vasorum Ltd., Terumo Corporation, Cardiva Medical, Inc., Boston Scientific Corporation, Scion BioMedical, Morris Innovative, Inc., Vivasure Medical Ltd., Teleflex Incorporated, Tricol Biomedical, Transluminal Technologies, Meril Life Sciences Pvt. Ltd., Medas USA, Advanced Vascular Dynamics, Marine Polymer Technologies, Inc.
High occurrence of cardiovascular diseases across the world will render high growth of vascular closure devices market in the forecast period. Rising prevalence of obesity, increasing geriatric population is leading to higher number of patients suffering from cardiovascular diseases.
The high costs of vascular closure devices can hinder the growth of this market. Countries with poor reimbursement policies can pose significant challenge for the adaption of vascular closure devices. The risks associated with the use of vascular closure devices during surgical procedures such as infections, bleeding, device failures and thrombotic events can also restrict the estimated growth.
The vascular closure devices provide minimal invasion and reduces risk of excessive blood loss during the surgeries. The rising awareness of patients towards minimally invasive procedures will provide growth opportunities for this market. Rising number of hospitals and healthcare funding will also support the growth of vascular closure devices.
Based on product type, the market has been segmented into passive approximators, active approximators and external Hemostatic Devices.
Based on access, the market has been segmented into femoral access and radial access.
Based on procedures, the market has been segmented into interventional cardiology and interventional radiology/vascular surgery.
North America accounted for the largest share of Vascular Closure devices market. The large share is ascribed by sophisticated infrastructure, increasing prevalence of cardiovascular diseases and presence of leading players of this market in this region.