2025-2034 Vascular Closure Devices Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Vascular Closure Devices Market Through 2025?
The market for vascular closure devices has experienced substantial expansion in the past few years. It is predicted to increase from a worth of $1.53 billion in 2024 to an estimated value of $1.63 billion in 2025, representing a compound annual growth rate (CAGR) of 6.4%. The boost during the historical period can be traced back to factors such as the rise in minimally invasive procedures, the aging population, patient inclination towards faster recovery periods, a surge in catheterization lab procedures, and emphasis on outpatient care.

What's the Projected Size of the Global Vascular Closure Devices Market by 2029?
The market size for vascular closure devices is projected to experience robust growth in the coming years. The market is anticipated to expand to $2.11 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%. The predicted growth during the forecast period can be ascribed to factors such as the proliferation of ambulatory surgery centers, a shift towards discharging patients the same day, patient-centric approaches, efforts to contain healthcare costs, and a rise in cardiovascular diseases. Major trends for the forecast period encompass the adoption of percutaneous coronary intervention, global collaboration in medical research, remote patient monitoring, integration with imaging technologies, and technological breakthroughs in device design.

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Top Growth Drivers in the Vascular Closure Devices Industry: What's Accelerating the Market?
The soaring rates of cardiovascular diseases are projected to fuel the expansion of the vascular closure devices market. Cardiovascular disease, which impacts the heart and blood vessels, thereby impeding blood flow to the heart, has been on the upswing. Vascular closure devices, as alternatives to traditional mechanical compression, seal the femoral artery quickly. This can potentially led to faster hemostasis and a decrease in the risk of post-procedure bleeding or hemorrhage. For instance, the Immigration and Checkpoints Authority of Singapore, a law enforcement agency, noted an increase in deaths due to heart and hypertensive diseases in Singapore from 6,238 in 2021 to 6,884 in 2022, in June 2023. As a result, the escalating incidence of cardiovascular diseases is predicted to buoy the vascular closure devices market growth. Vascular Closure Devices Market Driver: The rising prevalence of obesity is forecasted to stimulate the growth of the vascular closure devices market. Obesity, a medical condition that comprises an excessive build-up of body fat which adversely impacts a person's health and leads to a caloric imbalance, is on the rise. Vascular closure devices are employed for overweight and obese patients to mitigate the threat of bleeding complications and to tackle obstacles in medical procedures presented by anatomical factors linked with excess adipose tissue in the body. For instance, in March 2023, according to the World Heart Foundation, a non-governmental organisation based in Switzerland focussed on global cardiovascular issues, around 2.3 billion adults and children worldwide are obese or overweight. Given the ongoing rise in obesity, it's projected that the number of people living with obesity will hit 2.7 billion by 2025. Consequently, the increasing prevalence of obesity is propelling the vascular closure devices market growth.

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What Trends Will Shape the Vascular Closure Devices Market Through 2029 and Beyond?
A key trend among leading players within the vascular closure devices market involves innovating and improving technology, such as the inventive collapsible disc technology, with the aim of boosting patient results, reducing recuperation periods, and enhancing the overall efficiency and ease of vascular procedures. The unique collapsible disc design provides easy collapse and expand capabilities, making it efficient for storage and transport purposes. It offers flexibility and convenience across numerous uses including sports goods, outdoor equipment or package solutions. For example, in June 2024, the US-based medical technology corporation, Haemonetics, introduced VASCADE MVP XL, a medium-sized vascular closure device. Compared to its preceding model, VASCADE MVP system, the VASCADE MVP XL is designed with 58% more collagen and an enlarged disc. This reinforced design aims to offer a stronger closure solution, promoting faster recovery times and ultimately, patient result improvements.

What Are the Main Segments in the Vascular Closure Devices Market?
The vascular closure devices market covered in this report is segmented -

1) By Type: Passive Approximators, Active Approximators, External Hemostatic Devices
2) By Access: Femoral Access, Radial Access
3) By End User: Acute Care Facilities, Hospitals, Clinics, Other End Users

Subsegments:
1) By Passive Approximators: Suture-Based Devices, Fibrin Sealants
2) By Active Approximators: Mechanical Devices, Expanding Devices
3) By External Hemostatic Devices: Compression Bandages, Adjustable Hemostatic Devices

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Which Top Companies are Driving Growth in the Vascular Closure Devices Market?
Major companies operating in the vascular closure devices market report are Cardinal Health Inc., Abbott Laboratories, Medtronic PLC, Koninklijke Philips NV, Boston Scientific Corporation, Terumo Corporation, C.R. Bard Inc., Cook Medical Inc., W. L. Gore & Associates Inc., Maquet Getinge Group, Teleflex Inc., BTG International Inc., Biotronik GMBH & CO.KG, Merit Medical System Inc., Vygon SA, Cardiovascular Systems Inc., Sirtex Medical Limited, Endologix LLC, TZ Medical Inc., Cardiva Medical Inc., Essential Medical Inc., KOAG LLC, Morris Innovative Inc., Vasorum Ltd., Scion BioMedical Inc., Z-Media LLC, Advanced Vascular Dynamics, Transluminal Technologies Inc., Tricol Medical Inc.

Which Regions Will Dominate the Vascular Closure Devices Market Through 2029?
North America was the largest region in the vascular closure devices market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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