Vascular Closure Devices Market Major Players Using Technology to Develop New Vascular Closure

According to Precision Business Insights' (PBI), latest report, the market value of the Vascular Closure Devices Market size was valued at USD 1,267 million in 2023 and poised to grow at a 6.36% CAGR from 2024 to 2030. The primary factors that drive the market are the growing prevalence of cardiovascular diseases across the world, rising healthcare infrastructure, and increasing demand for vascular closure devices in the market.

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THE VASCULAR CLOSURE DEVICES MARKET DETAILED SEGMENTATION:
Based on the type, the market is segmented into the following
• Passive Approximators
• Active Approximators
• External Hemostatic Devices

Based on the procedure, the market is segmented into the following
• Interventional Cardiology
• Interventional Radiology/ Vascular Surgery

Based on the application, the market is segmented into the following
• Diagnostic Intervention
• Therapeutic Intervention

Based on the end user, the market is segmented into the following
• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers
• Others

Passive Approximators and Active Approximators Dominate the Vascular Closure Devices Market:
Based on type, Passive Approximators and Active Approximators hold the highest market share. The major factor for the rise of this segment is that the use of Active approximators are devices physically close to the arteriotomy site with the use of either a nitinol clip or a suture, Passive approximators are devices that deploy a plug, sealant, or gel at the arteriotomy site without physically closing the arteriotomy, rising need for standard closure increases the demand of approximators across the world. These factors can drive the Vascular Closure Devices Market growth.

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Based on the region, the market is segmented into the following
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific Vascular Closure Devices Market:
Asia Pacific region is expected to grow significantly in the global Vascular Closure Devices Market size over the forecast period. The Vascular Closure Devices Market in the Asia Pacific hold a significant revenue share in 2022. It is attributed to the increasing number of vascular diseases and the rapidly growing well-developed healthcare infrastructure. China, India, and Japan have huge patient bases, increasing popularity of femoral artery cardiac catheterization in the region increased the market share, and it is predicted to grow rapidly in the forecast years.

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STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
The Vascular Closure Devices Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.
• In July 2021, Vivasure Medical reported that it would start the development program for PerQseal Blue. The PerQseal Blue technology is based on PerQseal. The company's vascular closure device is approved in Europe for use in femoral arteries.
• In January 2021, Haemonetics acquired vascular closure systems maker Cardiva Medical for $475m upfront cash payment at closing and up to an additional $35m in contingent consideration based on sales growth.

Key players' profiles in the Vascular Closure Devices Market report are Abbott Laboratories, Cardinal Health., Cardival Medical, Inc., Terumo Corporation, Scion BioMedical, Medtronic, B. Braun Melsungen AG, Biotronik, Inc., BD, W.L. Gore & Associates, Teleflex Incorporated, Merit Medical Systems., Transluminal Technologies, LLC, Hemostasis, LLC. Vasorum Ltd., Tricol Biomedical., and ENDOCOR GmbH.

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