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The global vascular closure devices market is projected to reach USD 1.3 billion by 2026 from USD 0.9 billion in 2021, at a CAGR of 7.0% during the forecast period. The growth in this market can be attributed to a large number of approvals for vascular closure devices, high prevalence of cardiovascular diseases, increasing prevalence of obesity, increasing focus of market players on large-bore vascular closure devices, growing geriatric population, favorable reimbursement scenario for interventional radiology procedures, and rising focus on effective blood loss management in patients during surgeries. Emerging markets providing growth opportunities for market players and growth in the number of hospitals & surgical centers are expected to offer strong growth opportunities for players in the market. In contrast, the need for highly skilled professionals, risks associated with vascular closure devices, and stringent regulatory framework may challenge market growth to a certain extent. The vascular closure devices market is segmented based on type, access, procedure, and region.

“Passive approximators segment is expected to dominate the market during the forecast period.”

Based on type, the vascular closure devices market is segmented into passive approximators, active approximators, and external hemostatic devices. Passive approximators account for the largest share of the vascular closure devices market. The large share of this segment can be attributed to the increasing number of approvals for vascular closure devices and the wide range of advantages associated with these devices, such as ease of use and reduced complication rate in patients.

“Radial access segment to dominate the market during the forecast period.”

Based on access, the vascular closure devices market is segmented into radial access and femoral access. The femoral access segment commanded the largest share of the vascular closure devices market. . The large share of this segment can be attributed to the advantages of femoral access, such as better patient comfort, cost-effectiveness, and reduced hospitalization time.

“Interventional cardiology segment to dominate the market during the forecast period.”

Based on procedure, the vascular closure devices market is segmented into interventional cardiology procedures and interventional radiology/vascular surgery. Interventional cardiology for the largest share of the vascular closure devices market. The large share is attributed to the diagnosis and treatment of numerous cardiovascular disorders due to advancements in angioplasty and cardiac stenting and the growing prevalence of cardiac disorders globally.

“North America will dominate the market during the forecast period.”

The global vascular closure devices market is segmented into North America (the US and Canada), Europe (E-3, and the Rest of Europe), Asia Pacific, and Rest of World. In 2020, North America dominated the global vascular closure devices market, followed by Europe. The large share of the North American market can be attributed to the rising prevalence of cardiovascular diseases, the growing trend of one-day surgeries for vascular procedures, increasing research and clinical trials for vascular closure devices in the US, the increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Canada.

The primary interviews conducted for this report can be categorized as follows:

• By Company Type - Tier 1: 52%, Tier 2: 30% and Tier 3: 18%

• By Designation - C-level: 45%, D-level: 30%, and Others: 25%

• By Region - North America: 36%, Europe: 24%, Asia Pacific: 29%, and Rest of World: 11%

List of Companies Profiled in the Report 

• Terumo Corporation (Japan)

• Abbott (US)

• Cardinal Health (US)

• Cardiva Medical, Inc. (US)

• Medtronic Plc (Ireland)

• Morris Innovative, Inc. (US)

• Teleflex Incorporated (US)

• Merit Medical Systems, Inc. (US)

• Vasorum Ltd. (Ireland)

• TZ Medical, Inc. (US)

• Vivasure Medical Ltd. (Ireland)

• Tricol Biomedical (US)

• Scion Biomedical (US)

• Advanced Vascular Dynamics (US)

• Marine Polymer Technologies, Inc. (US)

• Transluminal Technologies (US)

• Rex Medical (US)

• Meril Life Sciences Pvt. Ltd. (India)

• Medas USA (US)

• Vygon Company (France)

Research Coverage:

This report provides a detailed picture of the global vascular closure devices market. It aims at estimating the size and future growth potential of the market across different segments, such as type, access, procedure and region. The report also analyzes factors (such as drivers, restraints, opportunities and challenges) affecting market growth. It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total vascular closure devices market. The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report: 

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on vascular closure devices offered by the top 20 players in the vascular closure devices market. The report analyses the vascular closure devices market by type, access, procedure and region.

• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various vascular closure devices across key geographic regions.

• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the vascular closure devices market.

• Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the vascular closure devices market.