Vascular Closure Devices Market Boosting Growth By Top Players Abbott Laboratories, Medtronic Plc, Transluminal Technologies LLC, Cardinal Health, Inc., Cardiva Medical, Inc., Terumo Corporation, Essential Medical, Inc.

In recent past, number of vascular closure devices have received approval from different regulatory bodies in key region such as North America and Europe, which is expected to boost growth of the market in near future. For instance in 2016, Vivasure Medical Ltd. received CE Mark for bioabsorbable percutaneous closure device for large-bore transcatheter procedures. In 2016 Essential Medical Inc. received CE Mark for X-Seal 6F vascular closure device. X-Seal 6F has also received investigational device exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to begin the US clinical trial. X-seal 6F device is the advanced vascular closure device that has novel deployment control features and provides consistent closure performance. In 2016, Essential Medical, Inc., received CE Mark approval for product MANTA. MANTA is a large hole vascular closure device that can be used after catheterization procedures such as transcatheter aortic valve replacement, endovascular treatment of abdominal aortic aneurysms, ventricular assist, and others. In 2013, Cardiva Medical, Inc. received FDA Premarket Approval (PMA) for the VASCADE Vascular Closure System (VCS). VASCADE VCS is an extravascular bio absorbable closure device. Furthermore launches of novel vascular devices is also expected to drive its market growth. For instance in 2017 Vasorum Ltd. Launched Celt ACD Second Generation Vascular Closure Device in the U.S. and in 2014, AccessClosure Inc. launched Mynx Ace vascular closure device.

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Market Dynamics

Increasing demand for diagnostic angiography procedures due to increasing prevalence of Coronary heart disease (CHD) is expected to increase demand for vascular closure device in near future. For instance according to the research published in Centers for Disease Control and Prevention (CDC) in 2017, Coronary heart disease (CHD) is one common type of heart disease, which causes about 370,000 deaths in U.S. annually. Furthermore the launch of innovative vascular closure devices in market is also expected create lucrative environment for market growth. For instance in 2014, AccessClosure Inc. launched Mynx Ace vascular closure device at annual scientific session of the American College of Cardiology in Washington, DC. Furthermore, in 2017, Vasorum Ltd. launched Celt ACD second generation vascular closure device in the U.S. market.

In 2016, Essential Medical, Inc., received CE Mark approval for product MANTA, which is a bore vascular closure device. In 2016, Vasorum Ltd. received U.S. Food and Drug Administration (U.S. FDA) approval for vascular closure device Celt ACD. In 2014, Cardinal Health received U.S. FDA approval for MynxGrip vascular closure device used for closure of femoral veins. The lucrative vascular closure devices market has witnessed multiple product launches in recent years. Thereby, increasing number of products in the market is expected to boost growth of the global vascular closure devices market.

Market players are focused on acquiring competitors or particular business segment (i.e. vascular closure device segment) from the competitors in order to increase product portfolio and to strengthen their position in vascular closure devices market. For instance, in January 2017, Terumo Corporation acquired some of vascular closure products owned by Abbott and St. Jude Medical, Inc. for a total amount of US$ 1.12 billion. The acquired product include St Jude Medical’s Angio-Seal and FemoSeal vascular closure product lines and Abbott’s Vado Steerable Sheath. An estimate total revenue generated by these products was US$ 268 Mn in 2016. Furthermore, Abbott Laboratories acquired St. Jude Medical, Inc. in January 2017 in order to strengthen its position in cardiovascular devices including vascular closure devices market. In 2014, Cardinal Health Inc. acquired AccessClosure Inc. for US$ 320 Mn in cash in order to expand vascular closure device product portfolio. In 2017, Teleflex Incorporated have acquired Vascular Solutions, Inc. This strategic acquisition have widen the vascular closure device product portfolio of Teleflex Incorporated.

Key players operating in the global vascular closure devices market include;

* Abbott Laboratories.
* Medtronic Plc.
* Transluminal Technologies LLC.
* Cardinal Health, Inc.
* Cardiva Medical, Inc.
* Terumo Corporation.
* Essential Medical, Inc.
* Vascular Closure Systems, Inc.
* Vivasure Medical Ltd.
* Vasorum Ltd.
* Morris Innovative Inc.

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Detailed Segmentation:

Global Vascular Closure Devices Market, By Product Type:
Passive Vascular Closure Devices
Plug-Based Devices
Sealant or Gel-Based Devices
Compression Assist Devices
Active Vascular Closure Devices
Clip-Based Devices
Suture-Based Devices
External Hemostatic Devices

Global Vascular Closure Devices Market, By Access:
Femoral
Radial

Global Vascular Closure Devices Market, By Hole Size:
Small Hole
Large Hole

Global Vascular Closure Devices Market, By End User:
Hospital
Ambulatory Surgical Centers
Others

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