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), By Access (Femoral, Radial),

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), By Access (Femoral, Radial), By End-use, Forecast, 2023 - 2032.

Global Vascular Closure Device Market size will expand at 6.5% CAGR from 2023 to 2032, driven by consistent advancements in vascular closure technologies. Continuous advancements in the design and technology of vascular closure devices are a driving force. Manufacturers are developing devices with improved safety profiles, ease of use, and reduced complication rates.

For instance, in March 2023, Vivasure Medical was granted FDA investigational device exemption (IDE) clearance, marking a significant step forward in its clinical study of the PerQseal device. To support the development of this innovative closure system designed to address bleeding complications in large-bore arterial vessel closure, the company secured a strategic investment of €30 million (~US$32 million) from Haemonetics Corp. These innovations aim to address the specific needs of different patient populations and clinical scenarios, which will help strengthen the industry outlook over the next ten years.

The overall vascular closure device market is categorized based on device type, access, end-use, and region.

The passive vascular closure device industry will demonstrate a 6.4% growth rate over 2023-2032. Passive vascular closure devices are gaining popularity in the medical field due to their minimally invasive nature and ability to reduce complications in procedures involving arterial punctures. These devices offer a convenient and effective way to achieve hemostasis without the need for active manual compression, leading to shorter recovery times, decreased patient discomfort, and improved patient outcomes, ultimately driving their increasing adoption among healthcare professionals.

In terms of access, the vascular closure device market share from the femoral segment will record 6.6% CAGR through 2032. The femoral artery is relatively large and accessible, making it suitable for a wide range of interventional procedures. VCDs can be deployed more effectively in femoral access, ensuring secure closure of the puncture site, reducing the risk of complications such as bleeding, and enabling faster patient recovery than other access points. This makes femoral access a preferred choice for VCD applications in a number of clinical scenarios.

Ambulatory Surgical Centers could dominate the end-use landscape of the vascular closure device industry and exhibit a 6.4% CAGR between 2023 and 2032. ASCs offer cost-effective alternatives to traditional hospitals for many outpatient procedures, including vascular interventions. Vascular closure devices are crucial in minimizing post-procedure complications and facilitating quicker patient discharge, aligning with the ASC model's goals of efficiency and patient convenience. This, along with the increasing volume of minimally invasive vascular procedures performed in ASCs, contributes to the rising demand for these devices in this setting.

Europe vascular closure device industry is experiencing substantial growth and will expand at 6.3% CAGR throughout 2023-2032. Europe has a growing aging population, leading to increased cardiovascular procedures. Stringent regulations promoting patient safety and the adoption of advanced medical technologies have fueled the demand for safer and more efficient closure methods. Additionally, expanding awareness among healthcare professionals and the presence of key market players in the region contribute to the industry's robust growth in Europe.