According to the research report titled ‘Vascular Closure Device Market Size By Device Type (Active Vascular Closure Devices {Suture-mediated Devices, Staple/Clip-mediated Vascular Closure Devices, Collagen Plug-mediated Devices}, Passive Vascular Closure Devices {Haemostasis Pads/Patches, Compression Devices}), By Access (Femoral, Radial), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global vascular closure device market is expected to register a remarkable growth during the period 2021-2027.
 

The rise in geriatric population with the subsequent increase in cardiovascular cases, coupled with the massive advancements in the medical treatments are factors aiding the development of global vascular closure device industry.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/3692104/

For the unversed, vascular closure devices are used as a substitute to manual compression. They limit the need for prolonged compression by closing the femoral artery access site. These devices are made of collagen and metallic clip or suture for sealing small incisions after angiography.

Despite the optimistic outlook, strict government regulations for ensuring the safety & reliability of such devices, and huge risks of complications after procedures are likely to hinder the growth of market during the review period.

In terms of device type, the active devices segment was valued at USD 667 million in 2019 and is slated to progress at 7.9% CAGR through 2027, owing to the surge in the aging population with higher susceptibility to chronic ailments.

Based on access, the femoral mode vertical of worldwide vascular closure device market was valued at USD 957 million in the year 2020 and is estimated to grow at 7.9% CAGR over the projected timeline, attributed to the high proclivity for such devices in the healthcare sector for performing coronary angiography and other interventional surgeries.

Concerning the end-use ambit, the ambulatory surgical center segment was valued at USD 262 million in 2020 and is predicted to rise at 7.7% CAGR during the analysis period, given the growing consumer preference towards such centers because of wider treatment options and better patient experience.

From a geographical standpoint, Middle East & Africa market was previously valued at USD 33 million and is poised to expand at 5% CAGR during the assessment timeframe, due to the widespread occurrence of cardiovascular ailments, and soaring elderly population in the region. 

The prominent players in global vascular closure device industry include Merit Medical Systems, Inc., Marine Polymer Technologies, Inc., Advanced Vascular Dynamics, Inc., Abbott Laboratories, Cardiva Medical, Inc., Vasorum Limited, Terumo Corporation, Scion BioMedical Technologies, Inc., Cardinal Health, Inc., Tricol Biomedical, Inc., Medtronic plc, TZ Medical, Inc., and Teleflex Incorporated among others.