Vascular Closure Device Market Top Trend 2021 | Abbott, Terumo Corporation, Cardinal Health, Inc., Teleflex

The vascular closure device market is expected to witness lucrative growth owing to high adoption of technically advanced devices and increasing disease pervasiveness. Presence of a large geriatric population base and a surge in hospital admissions has driven the acceptance of interventional procedures lately. Patient admission is also elevating across ambulatory surgical centers (ASC) as to a surge in the requirement for cardiovascular procedures. Short stay, convenient environment, and highly efficient professionals could amplify the ASC segment revenue share in coming years.

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According to a report published by Global Market Insights, ambulatory surgical centers segment was expected to contribute to about 23% market share in 2020. While the vascular closure devices market size is expected to exceed USD 2.1 billion by 2027. Currently, the cases of cardiovascular disorders are also rising owing to the acceptance of unhealthy lifestyle habits within developed as well as developing countries. Use of new closure devices is preferred over traditional therapies as they offer higher patient satisfaction, improved success rates, and enhanced outcomes, consequently leading to rapid product adoption for faster recovery. Increased efforts by healthcare organizations along with mounting awareness regarding the availability of advanced treatment therapies may spur market expansion in the estimated timeframe.

The major players functioning in the vascular closure devices industry include Teleflex Incorporated, Terumo Corporation, Cardinal Health, Inc., Abbott, and Merit Medical System among other players. Industry players are taking various strategic initiatives for staying competitive in the market like product innovations and collaborations. For instance, in February 2019, Teleflex Incorporated received premarket approval for its MANTA Vascular Closure Device from the U.S. FDA. This approval has helped the organization to expand geographically and extend its customer base.

Why is the active vascular closure devices market gaining momentum?

The demand for active vascular closure devices is likely grow substantially credited to new product launches and the integration of advanced technologies. The market for active VCD held a revenue share of above USD 667 million in 2020.

Active approximation devices help in direct closure of the arterial entry site during interventional procedures. There is a rise in the procedural volume for coronary angiography that has led to wide adoption of active VCDs, as many angiographic procedures require large femoral artery punctures.

How is the radial access segment fueling VCD industry expansion?

The radial access segment could rise over a CAGR of 7.4% in the upcoming years owing to advantages such as easy accessibility, lesser bleeding complications, closer than femoral sites, and radial artery hemostasis without interfering with vessel patency. Radial access for vascular closure provides the benefit in blocking of major bleeding and hence is being increasingly accepted by professionals. Complications related to femoral access affecting patient outcomes and operational effectiveness could drive the adoption of radial access.

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Which region is expected to emerge as a promising avenue for VCD suppliers?

The Germany vascular closure devices industry is likely to register a 7.4% CAGR over the forecast period owing to vast geriatric population adding to existing national disease burden. The need for high-end products could boost the demand for advanced closure devices that help in complex cardiac procedures. Additionally, economic progress leading to infrastructure development and the expansion of healthcare facilities is anticipated to propel regional business growth.

Partial Chapter of the Table of Content

Chapter 5 Vascular Closure Devices Market, By Access

5.1 Key segment trends

5.2 Femoral

5.2.1 Market size, by region, 2016-2027 (USD Million)

5.3 Radial

5.3.1 Market size, by region, 2016-2027 (USD Million)

Chapter 6 Vascular Closure Devices Market, By End-use

6.1 Key segment trends

6.2 Hospitals

6.2.1 Market size, by region, 2016-2027 (USD Million)

6.3 Ambulatory surgical centers

6.3.1 Market size, by region, 2016-2027 (USD Million)

6.4 Others

6.4.1 Market size, by region, 2016-2027 (USD Million)

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