Vascular Closure Devices Market Research, 2026
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
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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.
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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.
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