Global Vascular Closure Device By Type (Passive Approximators, Active Approximators, and External Hemostatic Devices), Access (Femoral Access and Radial Access), Procedure (Interventional Cardiology, Interventional Radiology/ Vascular Surgery), Distribution Channel (Direct Tenders and Retail), Application (Diagnostic Intervention and Therapeutic Intervention), End User (Hospitals and Clinics, Specialty Centres, Ambulatory Surgery Centres and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Vascular Closure Device Market
Data Bridge Market Research analyses that the vascular closure device market will exhibit a CAGR of around 6.33% for the forecast period of 2021-2028. Rising demand for minimally invasive and non-invasive procedures around the globe, increased focus of technological advancements involved in the manufacturing of medical devices, and rising expenditure on the healthcare infrastructure development, especially in the developing economies are the major factors attributable to the growth of vascular closure device market.
Vascular closure device is a piece of collagen or suture that is used post angiogram. Angiogram leaves a puncture in the arteries, and this is where vascular closure devices come into play. The vascular closure devices are used to seal the punctures arteries. The vascular closure devices have no side effects on the body of the patients.
Rising prevalence of cardiovascular diseases among the population is one of the major factors fostering the growth of vascular closure device market. Rising focus of market players on large-bore vascular closure devices and rising personal disposable income are some other indirect vascular closure device market growth determinants. Rising approvals for vascular closure devices coupled with increasing preference towards non-invasive procedures will further generate lucrative vascular closure device market growth opportunities. Rising obese population will also carve the way for market growth.
However, high costs associated with vascular closure devices will act as a market growth restraint. The rising preference for interventional procedures using radial artery access will further derail the market growth rate. Dearth of highly skilled professionals and surging failures and recalls of the product will further pose challenges for the market.
This vascular closure device market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vascular closure device market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vascular Closure Device Market Scope and Market Size
The vascular closure device market is segmented on the basis of type, access, procedure, distribution channel, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the global vascular closure device market has been divided into passive approximators, active approximators, and external hemostatic devices. Passive approximators segment is sub-segmented into collagen plugs, sealant or gel-based devices and compression assist devices. Active approximators segment is sub-segmented into suture-based devices and clip-based devices
- Based on the access, the vascular closure device market is segmented into femoral access and radial access.
- Based on the procedure, the vascular closure device market is segmented into interventional cardiology, interventional radiology/ vascular surgery.
- Based on the distribution channel, the vascular closure device market is segmented into direct tenders and retail.
- Based on the application, the vascular closure device market is segmented into diagnostic intervention and therapeutic intervention.
- Based on the end user, the vascular closure device market is segmented into hospitals and clinics, specialty centres, ambulatory surgery centres, and others.
Vascular Closure Device Market Country Level Analysis
The vascular closure device market is analysed, and market size insights and trends are provided by country, type, access, procedure, distribution channel, application and end user as referenced above.
The countries covered in the vascular closure device market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the vascular closure device market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is because of the prevailing sophisticated level of healthcare facilities, rising prevalence of lifestyle diseases, and government initiatives in establishing innovative technologies. Asia-Pacific, on the other hand is projected to exhibit the highest growth rate during the forecast period owing to the increasing demand for diagnostic services, increased expenditure on healthcare infrastructure, and rising personal disposable income.
The country section of the vascular closure device market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The vascular closure device market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for digital health technologies market, impact of technology using life line curves and changes in healthcare regulatory scenarios, and their impact on the vascular closure device market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Vascular Closure Device Market Share Analysis
The vascular closure device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vascular closure device market.
The major players covered in the vascular closure device market report are Abbott, Cardinal Health., Cardival Medical, Inc., Terumo Corporation, Scion BioMedical, Medtronic, B. Braun Melsungen AG, Biotronik, Inc., BD, W.L. Gore & Associates, Teleflex Incorporated, Merit Medical Systems., Transluminal Technologies, LLC, Hemostasis, LLC. Vasorum Ltd., Tricol Biomedical., ENDOCOR GmbH., TZ Medical., Vivasure Medical Ltd. and Marine Polymer Technologies, Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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