Market Report Titled ” Vascular Closure Devices Market Research Report 2019– Forecast to 2023″ is a Specialist Examination Report Explores the Market by Research Methodology, Segmentation, Key Players, and Major Region Globally.
Vascular Closure Devices Market Major Players:
Players leading the global vascular closure devices market include Cardiva Medical Inc., Abbott Laboratories, Morris Innovative, Inc., Terumo Corporation, Cardinal Health Inc., Medtronic plc, Vivasure Medical Ltd. Merit Medical Systems, Inc., Transluminal Technologies LLC, TZ Medical, Inc., Vasorum Ltd., Essential Medical, Inc., Vascular Closure Systems, Inc., among others.
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Vascular Closure Devices Market Analysis
Vascular closure devices are intended to prevent arterial blood loss or bleeding after an endovascular surgery needing catheterization such as angioplasty, stent and heart thrombectomy.
The global vascular closure devices market is experiencing a rapid growth surge owing to the continually expanding number of cardiac procedures resulting from a combination of the growing prevalence of cardiopathies and exposure to risk factors. As the American Heart Association opined in their report, cardiovascular disease accounted for 836,546 deaths in the U.S. in 2018 and almost 2,300 U.S. citizens die of cardiovascular disease per day. According to data estimates, almost 92.1 million Americans suffer from cardiovascular disease in 2018. Thus, a large market is easily comprehendible.
The growing exposure to risk factors, such as substance abuse, sedentary living, the growing number of obese people and consumption of fatty foods is another cause behind the drivers of the vascular closure devices market.
Market Research Future (MRFR) discusses in the report about the growth of the global vascular closure devices market, which according to them is expected to register a strong CAGR of over 6.8% over the assessment period of 2016 to 2023.
New product development is the key to dominate the vascular closure devices market. The emergence of bioabsorbable novel materials such as polyethylene glycol is driving a faster adoption owing to greater patient comfort and gentle deployment of the closing plug and lack of intravascular components.
Additional factors that are substantiating the market growth include growing per capita income, health insurance and growing reimbursement towards heart diseases. The dramatically growing expanse and reach of hospitals are further expected to drive substantial market growth.
Global Vascular Closure Devices Market – Segments
The report has three segments to widen the scope of understanding,
By Product Type: Passive Vascular Closure Devices (Plug-Based Devices, Sealant or Gel-Based Devices, Compression Assist Devices), Active Vascular Closure Devices (Clip-Based Devices, Suture-Based Devices, And Gamma-Retroviral Vectors), and External Haemostatic Devices, among others.
By Access: Femoral Access, and Radial Access, among others.
By Procedures: Interventional Cardiology and Interventional Radiology/Vascular Surgery, among others.
By Applications: Diagnostic Intervention, And Therapeutic Intervention, among others.
By End-Use: Hospitals & Clinics, Specialty Centres, Ambulatory Surgery Centres, among others.
By Regions: Americas, Europe, Asia-Pacific, and the Middle East and Africa.
North America dominates the global vascular closure devices market with a large patient pool and greater healthcare expenditure. The excellent reimbursement on healthcare coupled with the high preference healthcare coding for heart ailments is another driver of the vascular closure devices market.
The vascular closure devices market in Europe is expected to grow at a healthy rate owing to greater rates of hospitalization in Europe. The proliferating medical devices and pharmaceutical industry in the region are expected to drive a large export market especially to the Middle East and Latin America. Additionally, factors such as the developments in the healthcare sector are expected to drive the Europe vascular closure devices market.
The market for the Asia Pacific vascular closure devices is anticipated to emerge as the largest market globally. The development of the large pharmaceutical and medical devices industry coupled with the growth of the regional economy is a big stimulus to the market.
Global Vascular Closure Devices Market – Competitive Landscape
The vascular closure devices market is a consolidated market and favors high tech and advanced devices. Manufacturers rely on collaboration and partnerships with large healthcare payers and hospitals so as to develop a large client base and to avoid competition from low-cost players. Thus, the criticality of the product in the cardiac surgery provides high tech players an edge over their smaller competitors.
Companies are developing new manufacturing techniques and materials owing to increasing investment in R&D activities. The industry is witnessing co-development agreements to reduce development costs and commercialization time.
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Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
LIST OF TABLES
TABLE 1 GLOBAL VASCULAR CLOSURE DEVICES MARKET SYNOPSIS, 2018–2023
TABLE 2 GLOBAL VASCULAR CLOSURE DEVICES MARKET ESTIMATES AND FORECAST, 2018–2023 (USD MILLION)
TABLE 3 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY PRODUCT TYPE, 2018–2023 (USD MILLION)
TABLE 4 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY ACCESS, 2018–2023 (USD MILLION)
TABLE 5 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY PROCEDURE, 2018–2023 (USD MILLION)
TABLE 6 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY APPLICATION, 2018–2023 (USD MILLION)
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS
FIGURE 2 SEGMENTATION FOR GLOBAL VASCULAR CLOSURE DEVICES MARKET
FIGURE 3 MARKET DYNAMICS FOR GLOBAL VASCULAR CLOSURE DEVICES MARKET
FIGURE 4 GLOBAL VASCULAR CLOSURE DEVICES MARKET SHARE, BY PRODUCT TYPE, 2017 (%)
FIGURE 5 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY ACCESS, 2017 (%)
FIGURE 6 GLOBAL VASCULAR CLOSURE DEVICES MARKET, BY PROCEDURE, 2017 (%)
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