Global vascular closure devices market to reach USD 1.3 billion by 2027. Global vascular closure devices market to reach USD 1.3 billion by 2027.
Global vascular closure devices market is valued approximately at USD 0.8 billion in 2020 and is anticipated to grow with a healthy growth rate of about 7% over the forecast period 2021-2027. Vascular closure devices are piece of collagen (fibrous protein which is found in bone, skin, and connective tissue), metallic clip or stitch (suture), designed to offer immediate sealing of small punctures that are made in an artery after angiogram. The global vascular closure devices market is being driven by high prevalence of cardiovascular diseases and growing geriatric population across the globe.
Furthermore, increasing investments, funds, and grants for research on vascular devices will provide new opportunities for the global vascular closure devices industry. Cardiovascular diseases are the leading cause of death across the globe. According to the World Health Organization, approximately 17.9 million people died from cardiovascular diseases in 2019, which represented about 32% of all deaths worldwide. Out of these deaths, about 85% were due to heart stroke and attack.
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Such high incidences of cardiovascular diseases across the globe is expected to increase the demand and adoption of vascular closure devices to treat post-surgical sealing. Hence, this is expected to promote the market growth. However, increasing preference for interventional procedures using radial artery access may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global vascular closure devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America accounts for the largest share in terms of market revenue in the global vascular closure devices market over the forecast period 2021-2027. Factors such as rising trend of one – day surgeries for vascular procedures, increasing prevalence of cardiovascular diseases, increasing number of cases of cardiac arrest, increasing clinical trials and research for vascular closure devices, long waiting period for cardiac surgeries, etc. contribute towards the largest market share of the region in the forecast years.
Major market player included in this report are:
Terumo Corporation
Abbott
Cardinal Health
Cardiva Medical, Inc.
Medtronic Plc
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Morris Innovative, Inc.
Teleflex Incorporated
Merit Medical Systems, Inc.
Vasorum Ltd.
TZ Medical, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Passive Approximators
Active Approximators
External Hemostatic Devices
By Access:
Femoral Access
Radial Access
By Procedure:
Interventional Cardiology
Interventional Radiology/Vascular Surgery
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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