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High prevalence of obesity is a significant factor driving global vascular closure devices market revenue growth

VANCOUVER, B.C, CANADA, May 16, 2023 /EINPresswire.com/ -- The global Vascular Closure Devices (VCD) market size is expected to reach USD 1.67 Billion in 2030 and register a steady revenue CAGR of 7.0% during the forecast period. 

The market for medical devices used to secure vascular access sites and achieve hemostasis during catheterization procedures is known as the Vascular Closure Devices (VCD) market. Due to their capacity to lower problems and encourage patients' quicker recoveries, these gadgets have grown significantly in relevance in recent years. Hospitals, ambulatory surgery centres, and catheterization labs are just a few of the healthcare environments that use VCDs.

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The market for vascular closure devices is expanding as a result of numerous factors. First, there has been an increase in catheterization procedures due to the rising frequency of cardiovascular illnesses in the world. As a result, there is a greater need for VCDs since they provide a safer and more effective method of attaining hemostasis than manual compression. The efficacy and safety profiles of VCDs have been improved by technological developments, which has improved patient outcomes. The market has grown as a result of the development of innovative closure techniques such suture-mediated devices and collagen-based implants.

The Vascular Closure Devices market, however, also has some limitations that could slow its growth. The high price tag attached to these devices is one important barrier. Because VCDs are typically more expensive than conventional manual compression procedures, their use in some healthcare settings may be constrained, especially in developing countries with constrained healthcare budgets. Additionally, there is still concern about the possibility of VCD-related problems including infections related to the device or vascular issues. When deciding on the best closure approach, healthcare providers must carefully consider the risks and advantages.

Some Key Highlights from the Report

The FDA has approved the VASCADE MVP Venous Vascular Closure System for same-day discharge following atrial fibrillation (AF) ablation, according to a report released on September 30, 2021 by Haemonetics Corporation, a global medical technology company specialising in creating innovative medical solutions that improve patient outcomes.

During the projected period, the femoral access segment is anticipated to contribute the biggest revenue share. Vascular closure devices are now frequently employed in femoral catheterization patients as a viable alternative to traditional mechanical compression for femoral artery closure. Radial access has become more popular recently, however femoral arterial access is still widely used for cardiac catheterization and Percutaneous Coronary Intervention (PCI). Clinical research have found varying rates of vascular problems with the various femoral artery closure devices that have been developed and are frequently utilised to speed up vascular closure times. The femoral access segment will experience significant market revenue growth over the course of the projection period due to the aforementioned factors.

During the projection period, it is anticipated that the interventional radiology/vascular surgery segment would have rapid revenue growth. Interventional radiology has made significant strides in recent years. Such increase has been made possible by technological advancements and practitioner creativity. Future developments in robotics, procedural procedures, imaging modalities, artificial intelligence (AI), and augmented reality (AR) will be crucial in enabling exponential growth. Recent developments in artificial intelligence provide the general public brand-new, ground-breaking development chances in the current and future practise of image-guided treatments.

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Vascular Closure Devices (VCD) market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Vascular Closure Devices (VCD) market and pinpoint the fundamental growth trends.  

Major companies in the market report include Terumo Corporation, Abbott, Cardinal Health, Cardival Medical, Inc., Medtronic, Morris Innovative, Teleflex Incorporated, Merit Medical Systems, Vasorum Ltd., and Tricol Biomedical.

Key Parameters Analyzed in This Section:

Company Profiles

Gross Revenue

Profit margins

Product sales trends

Product pricing

Industry Analysis

Sales & distribution channels

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Emergen Research has segmented the global vascular closure devices market based on type, access, procedure, and region:

Type Outlook (Revenue, USD Billion; 2019–2030)

Passive Approximators

Collagen Plugs

Sealant or Gel-based Devices

Compression Assist Devices

Active Approximators

Suture-based Devices

Clip-based Devices

External Hemostatic Devices

Access Outlook (Revenue, USD Billion; 2019–2030)

Femoral Access

Radial Access

Procedure Outlook (Revenue, USD Billion; 2019–2030)

Interventional Cardiology

Interventional Radiology/Vascular Surgery

Regional Segmentation;

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

What Questions Should You Ask before Buying a Market Research Report?

How is the Vascular Closure Devices (VCD)-market evolving?

What is driving and restraining the Vascular Closure Devices (VCD) market?

How will each Vascular Closure Devices (VCD) submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

How will the market shares for each Vascular Closure Devices (VCD) submarket develop from 2022 to 2030?

What will be the main driver for the overall market from 2022 to 2030?

Will leading Vascular Closure Devices (VCD) markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

Who are the leading players and what are their prospects over the forecast period?

What are the Vascular Closure Devices (VCD) projects for these leading companies?

How will the industry evolve during the period between 2020 and 2030? What are the implications of Vascular Closure Devices (VCD) projects taking place now and over the next 10 years?

Is there a greater need for product commercialisation to further scale the Vascular Closure Devices (VCD) market?

Where is the Vascular Closure Devices (VCD)-market heading and how can you ensure you are at the forefront of the market?

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