Growing popularity of femoral artery cardiac catheterization and high success rate of VCDs for improved patient comfort and shortening of hemostasis time are potential factors for the projected growth of VCDs market over the forecast period. Adoptions of VCDs Market for diagnostic and therapeutic interventions that facilitate endovascular image-guided interventions to detect coronary heart disease are expected to contribute toward the growth of this market throughout the forecast period.
Moreover, ability of VCDs to overcome complications, such as prolonged bed rest and patient discomfort caused by manual compression, is expected to revolutionize the market growth over the forecast period.
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Further Key Findings from the Study Suggest:
• VCDs offer three types of products, which includes active approximators, passive approximates, and external haemostatic devices. Out of all three, active approximators dominated the market in 2015 as they shorten the time to ambulation and possess high efficiency rate.
• Amongst the different end-users of VCDs, acute care facilities accounted for the largest share and are expected to maintain their dominant position over the forecast period. This is attributed to the rising popularity of VCDs in acute care treatment facilities.
• Asia Pacific is estimated to witness the fastest growth over the forecast period owing to the presence of unmet demands by the hospitals and rising R&D investment in this region.
• Some key players operating in this industry include Cardinal Health; Abbott Laboratories; COOK; Medtronic; W L. Gore & Associates; Boston Scientific Corporation; Biotronik GMBH & CO.KG; TZ Medical, Inc.; C. R. Bard, Inc.; ST. JUDE MEDICAL; Cardiva Medical, Inc.; Merit Medical Systems, Inc.; ESSENTIAL MEDICAL, INC; and Scion BioMedical.
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This market is expected to witness lucrative growth owing to high level of competitive rivalry, which translates to high revenue generation in this sector. These prominent players are opting for different strategies to boost their status in this market. Companies are involved in developing novel VCDs and in turn broaden their product portfolios. Acquisition and collaboration with small companies in order to enhance presence is also expected to propel growth in this vertical.
For instance, in October 2015, Cardinal Health acquired Johnson & Johnson’s Cordis business. Cordis is a leader in manufacturing and marketing of cardiology and endovascular devices. This acquisition was intended to expand Cardinal’s VCD product catalog to reinforce its status in the market.
North America dominated the market in 2015, with over 33% of total revenue. The presence of key players in this region, which are primarily involved in marketing and development of innovative VCDs, to facilitate cardiac surgeries can be attributed to the largest share of North America. Demand of products for monitoring of coronary artery disease is also expected to drive growth.
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Table of Contents:
Chapter 1: Research Methodology
1.1 Information Procurement
1.2 Data Analysis
Chapter 2: Executive Summary
Chapter 3: Market Snapshot
Chapter 4: Market Variables, Trends& Scope
4.1 Market Segmentation& Scope
4.1.1 Market driver analysis
188.8.131.52 Increasing catheterization related procedures
184.108.40.206 Rising preference for minimally-invasive solutions & rise in vascular procedures
220.127.116.11 Technological developments in new vascular closure devices aimed to increase safety among patients
4.1.2 Market restraint analysis
18.104.22.168 High price of products
22.214.171.124 Complications associated with vascular closure devices
4.2 Penetration & Growth Prospect Mapping For End-use, 2015
4.3 Vascular Closure Devices – SWOT Analysis, By Factor (political & legal, economic and technological)
4.4 Industry Analysis – Porter’s
Chapter 5: Market Categorization 1: Product Estimates & Trend Analysis
5.1 Vascular closure device market: Product Movement Analysis
5.2 Active Approximators
5.2.1 Global active approximators market, 2013 – 2024 (USD Million)
5.2.2 Suture-based devices
126.96.36.199 Global suture-based devices market, 2013 – 2024 (USD Million)
5.2.3 Clip-based devices
188.8.131.52 Global clip-based devices market, 2013 – 2024 (USD Million)
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