North America Vascular Closure Devices Market worth USD 342.6 Million by 2021 | Market Data Forecast

The North America Vascular Closure Devices Market was worth USD 250.07 Million in 2016 and is estimated to be growing at a CAGR of 6.5%, to reach USD 342.6 Million by 2021. In general, vascular closure devices are a metallic clip or a suture or small piece of collagen used to achieve homeostasis of a punctured artery. The artery is punctured to conduct certain diagnostic procedures such as angiogram test.

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Manual compression was used to restrict the blood flow from the artery before the introduction of vascular closure devices. It is a very painful procedure and consumes a lot of time and effort. Introduction of VCDs has increased the comfort to the patients after the diagnostic procedure. With the advancement of technology, materials like polyethylene glycol are used in making VCDs which do not have any side effects.

Increase in research and clinical trials to introduce new materials for VCDs, increase in approval of new VCDs, rising prevalence of cardiovascular devices are the major factors driving the vascular closure devices market in this region. Thriving trend of one-day surgeries for vascular diseases and increasing aging population are also responsible for driving the market. Various risks associated with the use of VCDs like leg ischemia and high costs of vascular closure devices are the major factors hindering the market growth.

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The North America vascular closure devices market is categorized based on the type, access, procedure, end user and by region. Based on the type of devices, the market is categorized into passive approximators, Active Approximators and External Hemostatic Devices. Active approximators segment is projected to hold the largest share in the VCDs market due to their high efficiency. Passive approximators are again categorized into Sealant or Gel based devices, Collagen plugs and Compression assist devices. Active approximators are again categorized into Suture based devices and clip based devices. Based on access to the artery, the market is categorized into Femoral and radial access. Femoral access the largest market share because it is largely adopted by physicians around the globe. Based on procedure involved, the market is categorized into interventional cardiology and interventional radiology or vascular surgery. Based on end user, the market is categorized into acute care facilities, hospitals and clinics. Acute care facilities are the largest market segment due to the increase of emergency cases in cardiovascular diseases.

The North America vascular closure devices market is segmented into USA and Canada based on the region. USA is accounted to have the largest market share due to the high adoption rate of advanced devices and large population with obesity resulting in cardiovascular diseases.

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Major companies in VCDs market are Merit Medical Systems, Inc., Boston Scientific Corporation, Cardival Medical, Abbott Vascular, Biotronik GMBH & CO.KG, Cardinal Health, ST. Jude Medical, Medtronic, Inc., Essential Medical, Inc., W L. Gore & Associates; TZ Medical, Inc. and Scion BioMedical.

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