Vascular Closure Devices Market Trend, Growth, Share and Key Players Terumo Corporation (Japan), Abbott (US), Cardinal Health (US), Cardiva Medical, Inc. (US)

ReportsnReports unveil the report title Vascular Closure Devices Market estimates to achieve the highest CAGR during the project period. The Vascular Closure Devices Market research report is unbiased as it provides market drivers, restraints, challenges, and opportunities. In addition, the report encompasses several factors that have contributed to the growth of the market in recent years. Finally, the report provides a market introduction incorporating research scope, methodology, market segmentation, definition, and assumptions.

The report analyses the ongoing Vascular Closure Devices Market trends across North America, Europe, Asia Pacific, and the World. It also provides the regional scope of the market that helps you to understand the region-wise market situation. Moreover, the customized report also helps to understand the Vascular Closure Devices Market in the specific region.

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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.

List of Companies Profiled in the Report

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)
Transluminal Technologies (US)
Rex Medical (US)
Meril Life Sciences Pvt. Ltd. (India)
Vygon Company (France)

The primary interviews conducted for this report can be categorized as follows:

By Company Type - Tier 1: 52%, Tier 2: 30% and Tier 3: 18%
By Designation - C-level: 45%, D-level: 30%, and Others: 25%
By Region - North America: 36%, Europe: 24%, Asia Pacific: 29%, and Rest of World: 11%

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. 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.

“Passive approximators segment is expected to dominate the market during the forecast period.”

Based on type, the vascular closure devices market is segmented into passive approximators, active approximators, and external hemostatic devices. Passive approximators account for the largest share of the vascular closure devices market. The large share of this segment can be attributed to the increasing number of approvals for vascular closure devices and the wide range of advantages associated with these devices, such as ease of use and reduced complication rate in patients.

“Radial access segment to dominate the market during the forecast period.”

Based on access, the vascular closure devices market is segmented into radial access and femoral access. The femoral access segment commanded the largest share of the vascular closure devices market. . The large share of this segment can be attributed to the advantages of femoral access, such as better patient comfort, cost-effectiveness, and reduced hospitalization time.

“Interventional cardiology segment to dominate the market during the forecast period.”

Based on procedure, the vascular closure devices market is segmented into interventional cardiology procedures and interventional radiology/vascular surgery.

“North America will dominate the market during the forecast period.”

The global vascular closure devices market is segmented into North America (the US and Canada), Europe (E-3, and the Rest of Europe), Asia Pacific, and Rest of World. In 2020, 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.

Reasons to Buy the Report:

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on vascular closure devices offered by the top 20 players in the vascular closure devices market. The report analyses the vascular closure devices market by type, access, procedure, and region.

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various vascular closure devices across key geographic regions.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the vascular closure devices market.

Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the vascular closure devices market.

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