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Vascular Closure Devices Market: Insights and Market Dynamics || Cardinal Health Inc., Abbott Laboratories, Medtronic plc, Koninklijke Philips NV
Vascular Closure Devices Global Market Report
The Business Research Company presents an extensive market research report on the Vascular Closure Devices Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The vascular closure devices market size has grown strongly in recent years. It will grow from $1.42 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in minimally invasive procedures, aging population demographics, patient preference for shorter recovery times, increased catheterization lab procedures, focus on outpatient care..
The vascular closure devices market size is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rise in ambulatory surgery centers, shift toward same-day discharge, patient-centric approaches, healthcare cost containment initiatives, increasing incidence of cardiovascular diseases.. Major trends in the forecast period include adoption of percutaneous coronary intervention, global collaboration in medical research, remote patient monitoring, integration with imaging technologies, technological innovations in device design..
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Key Market Players:
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. are prominent players in the industry.
Market Drivers:
The increasing prevalence of cardiovascular diseases is expected to drive the growth of the vascular closure devices market. Cardiovascular disease (CVD) refers to conditions that affect the structures or function of the heart or blood vessels, affecting blood flow to the heart. Vascular closure devices (VCDs) are a substitute for conventional mechanical compression to close the femoral artery and offer rapid sealing of the femoral artery access site, potentially resulting in quicker attainment of hemostasis and a reduced risk of bleeding or hemorrhage following placement. For instance, in June 2023, according to the Immigration and Checkpoints Authority, a Singapore-based law enforcement agency, the number of people who died from heart and hypertensive diseases in Singapore increased from 6,238 in 2021 to 6,884 in 2022. Therefore, the increasing prevalence of cardiovascular diseases is expected to propel the growth of the vascular closure devices market.
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Market Segments Include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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