Luton, Bedfordshire, United Kingdom, Feb. 27, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Vascular Closure Devices Market.
Global Vascular Closure Devices Market stands at US$ 0.95 Billion in 2022 and is anticipated to grow at a CAGR of 7.0% over the following ten years to reach US$ 1.5 billion by 2029.
Vascular Closure Devices Market Demand Analysis and Growth in upcoming years
In the upcoming years, the market for vascular closure devices is anticipated to expand significantly. Medical devices known as vascular closure devices are used to stop bleeding after femoral artery diagnostic or interventional operations. These tools aid in lowering risks related to manual compression and enhance patient satisfaction. The rising incidence of cardiovascular diseases, such as coronary artery disease and peripheral artery disease, is one of the major development factors in the market for vascular closure devices. According to the World Health Organization, cardiovascular diseases account for an estimated 17.9 million deaths annually, making them the top cause of death worldwide. This has increased the need for vascular closure devices by spurring a rise in diagnostic and interventional procedures.
The rising demand for minimally invasive procedures is another factor fueling development in the market for vascular closure devices. Compared to open surgeries, minimally invasive procedures have a number of benefits, such as shorter hospital stays, quicker recovery periods, and a lower chance of complications. Vascular closure instruments are a crucial part of many minimally invasive treatments, which increases demand for these instruments.
Additionally, the market for vascular closure devices is expanding as a result of the aging population and rising outpatient treatment demand. Geriatric patients need regular diagnostic and interventional treatments because they are more prone to cardiovascular diseases. Demand for vascular closure devices that can be used in outpatient environments is growing as a result of the affordability and convenience of outpatient services.
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Trends and Technologies
The market for vascular closure devices (VCDs) is developing quickly, with new trends and innovations appearing to enhance patient outcomes and boost effectiveness. Here are some of the newest developments in arterial closure device design:
Bioresorbable VCDs: Devices for vascular closure that are bioresorbable are made to progressively break down and be absorbed by the body over time, doing away with the need for a separate removal process. These gadgets have a number of advantages, such as lowered infection risk and enhanced patient satisfaction.
Next-Generation Hemostasis Pads: After diagnostic or interventional treatments, hemostasis pads are used to promote hemostasis and minimize bleeding. Modern materials and designs are used in next-generation hemostasis pads to increase effectiveness and lessen side effects like hematoma development.
Digital Health Solutions: Patients who have endured vascular closure procedures are increasingly being assisted with post-procedure follow-up care using digital health solutions like remote patient monitoring and telemedicine. By allowing early detection and intervention for potential complications, these solutions can enhance patient outcomes and lower healthcare costs.
Hybrid Vascular Closure Devices: In order to provide a more secure closure and lower the risk of complications, hybrid vascular closure devices blend the advantages of active and passive closure mechanisms. These tools are made to make manual compression quicker, cheaper, more comfortable for the patient, and less likely to cause problems.
Artificial Intelligence: Predictive models are being created using artificial intelligence (AI) to pinpoint patients who are at a high risk of complications following vascular closure procedures. In order to ensure that the appropriate device is used for the correct patient and process, AI can also be used to optimize the use of vascular closure devices.
Competitive Insight
Some of the notable market players operating in the global Vascular Closure Devices Market covered in this report are: Merit Medical Systems, Inc., Abbott Vascular, Biotronik GMBH & CO.KG, COOK Medtronic, Boston Scientific Corporation, C. R. Bard, Inc., ESSENTIAL MEDICAL, Inc., Cardinal Health, W L. Gore & Associates , ST. JUDE MEDICAL, TZ Medical, Inc., Cardival Medical, Inc., Scion BioMedical, and others.
Recent Developments
Merit Medical Systems Inc. announced that it has acquired Datascope Corp.’s Safeguard Pressure Assisted Device, which assists in obtaining and maintaining hemostasis after a femoral procedure and the Air-Band Radial Compression Device, which is indicated to assist hemostasis of the radial artery puncture site while maintaining visibility.
Abbott launched the StarClose SE Vascular Closure System, a next-generation vessel closure device engineered to enable fast and secure closure of the femoral artery access site following a catheterization procedure.
| Attributes | Value |
| Vascular Closure Devices market Share (2022) | US$ 0.95 Billion |
| Vascular Closure Devices market Projected Size (2029) | US$ 1.5 billion |
| Vascular Closure Devices market Growth (CAGR 2023-2029) | 7.0% |
Browse the full “Vascular Closure Devices Market by Type (Passive Approximators, Active Approximators, External Hemostatic Devices), Access (Femoral, Radial), Procedure (Interventional Cardiology, Interventional Radiology/Vascular Surgery) And by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global Trends and Forecast From 2023 To 2029” Report and TOC at https://exactitudeconsultancy.com/reports/6503/vascular-closure-devices-market/#table-of-content
Segment Overview
The Vascular Closure Devices market is segmented by type, by Access, and by Procedure.
Active Vascular Closure Devices: These devices effectively close the arteriotomy site using a mechanism, like a clip or suture. Devices that actively seal blood vessels include the MynxGrip and Angio-Seal.
Passive Vascular Closure Devices: These devices use a collagen plug or another substance to induce natural clotting in order to accomplish hemostasis. ExoSeal and VasoSeal are examples of passive vascular closure systems.
Topical Hemostats: To accomplish hemostasis, these products are used in conjunction with other vascular closure tools. They can be immediately applied to the area of the arteriotomy to encourage clotting and stop bleeding. The HemCon Patch and CoStasis are two examples of external hemostats.
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Regional Insights:
Here are some regional insights about the Vascular Closure Devices market:
North America: Vascular closure device sales in North America make for a sizeable portion of global revenue. The high prevalence of cardiovascular disease, the accessibility of cutting-edge healthcare facilities, and the rising popularity of minimally invasive procedures are some of the factors driving the market. The biggest market in the area is the United States, followed by Canada.
Europe: Additionally, Europe is a sizable market for arterial closure devices, with the UK, Germany, and France contributing significantly to regional sales. Ageing populations, rising cardiovascular disease rates, and greater use of minimally invasive procedures are some of the factors driving the industry.
Asia Pacific: With its big population, rising prevalence of cardiovascular disease, and rising use of minimally invasive procedures, the Asia Pacific area is predicted to have the fastest rate of growth for vascular closure devices. The main drivers of regional development are anticipated to be nations like China, India, and Japan.
Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Vascular Closure Devices Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Vascular Closure Devices Market growth during the next Six years
- Precise estimation of the Vascular Closure Devices Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the Vascular Closure Devices industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Vascular Closure Devices Market vendors
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/6503/vascular-closure-devices-market/#request-a-sample
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