Vascular Closure Devices Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

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..

Market Overview -
A vascular closure device is a medical device that seals the entry point in an artery after a catheterization procedure. These devices are designed to accelerate the natural healing process and minimize the risk of bleeding, hematoma formation, or other complications at the access site.

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Cardiovascular Disease Prevalence Fuels Growth In Vascular Closure Devices Market
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.

Competitive Landscape -
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.

Innovative Vascular Closure Devices Such As Azur Vascular Plug Enhance Market Competitiveness
Major companies operating in the vascular closure devices market are developing innovative products, such as the AZUR Vascular Plug, to increase profitability in the market. The AZUR Vascular Plug is a medical device that closes or blocks a blood vessel and is made of a self-expanding nitinol wire mesh. For instance, in July 2021, Terumo Medical Corporation, a Japan-based manufacturer of medical devices, launched the AZUR Vascular Plug for peripheral vascular embolization. It is a specially created plug that may occlude arteries up to 8 mm in diameter and is suggested to slow down or stop blood flow in arteries of the peripheral vasculature. It is compatible with a microcatheter. The AZURTM Vascular Plug has a short deployment length for improved precision and is available in sizes to treat vascular architecture ranging from 2.5mm to 8mm. It has an inner composite membrane of polytetrafluoroethylene (ePTFE) and polyethylene terephthalate (PET) that facilitates mechanical occlusion.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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