Global Vascular Closure Devices Market Growth 2023-2029

Global Vascular Closure Devices Market Growth 2023-2029

According to our (LP Info Research) latest study, the global Vascular Closure Devices market size was valued at US$ 1085.3 million in 2022. With growing demand in downstream market and recovery from influence of COVID-19 and the Russia-Ukraine War, the Vascular Closure Devices is forecast to a readjusted size of US$ 1794.5 million by 2029 with a CAGR of 7.4% during review period.

The research report highlights the growth potential of the global Vascular Closure Devices market. With recovery from influence of COVID-19 and the Russia-Ukraine War, Vascular Closure Devices are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Vascular Closure Devices. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Vascular Closure Devices market.

Vascular closure devices are medical devices used to achieve hemostasis of the small hole in the artery after a cardiovascular procedure of endovascular surgery requiring a catheterization. The devices seal the puncture site in an artery (the arteriotomy) through mechanical means rather than relying on the body’s natural clotting response.

Vascular Closure Devices were introduced in the early 1990s in an effort to reduce the time to hemostasis, enable early ambulation and improve patient comfort. Initially, devices focused on technologies involving a suture or a collagen plug. These technologies are effective at closing the hole; however, they often leave an intravascular component in the artery, which can cause complications. In addition, these technologies failed to accurately address patient pain. More recent methods to close the hole involve the use of novel materials that dissolve over a short period of time, such as polyethylene glycol found in the Mynx vascular closure device. These technologies incorporate a more gentle deployment of the material to the outside of the artery and avoid the use of intravascular components, leaving nothing behind in the artery and consequently improving patient comfort.

Generally, there are two types of vascular closure devices: active and passive, in this report, vascular closure devices refer to active vascular closure devices.

Global core vascular closure devices manufacturers include Abbott Laboratories, Terumo Corporation, Cordis, Teleflex Incorporated and Morrris Innovative. The top 1 company hold a share over 50%. North America is the largest market, with a share about 45%, followed by Asia Pacific and Europe with the share about 30% and 25%. In terms of product type, 8F is the largest segment, with a share over 20%. And in terms of application, the largest application is interventional procedures, followed by angiography surgery.

Key Features:

The report on Vascular Closure Devices market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Vascular Closure Devices market. It may include historical data, market segmentation by Type (e.g., 5F, 6F), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Vascular Closure Devices market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Vascular Closure Devices market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Vascular Closure Devices industry. This include advancements in Vascular Closure Devices technology, Vascular Closure Devices new entrants, Vascular Closure Devices new investment, and other innovations that are shaping the future of Vascular Closure Devices.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Vascular Closure Devices market. It includes factors influencing customer ' purchasing decisions, preferences for Vascular Closure Devices product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Vascular Closure Devices market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Vascular Closure Devices market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Vascular Closure Devices market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Vascular Closure Devices industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Vascular Closure Devices market.

Market Segmentation:

Vascular Closure Devices market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
5F
6F
7F
8F
Others

Segmentation by application
Angiography Surgery
Interventional Procedures

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Abbott Laboratories
Terumo Corporation
Cordis
Teleflex Incorporated
Morrris Innovative

Key Questions Addressed in this Report

What is the 10-year outlook for the global Vascular Closure Devices market?

What factors are driving Vascular Closure Devices market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Vascular Closure Devices market opportunities vary by end market size?

How does Vascular Closure Devices break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.