A vascular closure device (VCD) is a medical device used to stop bleeding after puncturing the femoral artery during diagnostic angiography or interventional procedures. VCDs are an alternative to manual compression because they can immediately seal the entry site of the femoral artery. Since St. Jude Medical, Inc. received approval for VasoSeal equipment in 1995, VCD has been marketed in the U.S. Since then, several leading medical devices such as Abbott Laboratories, Medtronic and Terumo have entered the market.
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Regulatory agencies in key regions frequently approve new vascular closure devices are expected to drive growth of the global vascular closure device market. Recently, various vascular closure devices have been approved by different regulatory agencies in key regions such as North America and Europe, and are expected to promote market growth in the coming years. In 2016, Vivasure Medical Ltd. received the CE mark for bioabsorbable percutaneous closure devices for large-bore transcatheter surgery. The Xseal 6F device is an advanced vascular closure device with novel deployment control functions and consistent closure performance. In 2013, Cardiva Medical, Inc.’s VASCADE VCS (Vascular Closure System) received PMA (premarket approval) from the FDA. VASCADE VCS is an extravascular bioabsorbable closure device. In addition, it is also expected that the release of new vascular devices will lead to market growth. In 2017, Vasorum Ltd. launched the Celt ACD 2nd generation vascular closure team in the U.S. and 2014, AccessClure Inc. Launch of the MYNX ACE vascular closure device.
The global vascular closure device market had a market valuation of $ 8482 million in 2016 and is expected to grow at a CAGR of 6.1 percent during the forecast period (2017-2025).
Due to the increasing prevalence of cardiovascular diseases and the increasing demand for angiography, the global vascular closure device market is expected to grow. Vascular closure devices are mainly used to stop bleeding after puncturing the femoral artery during injection. Angiography is an imaging technique used to visualize the inside of blood vessels, including arteries. This technique has been increasingly used to determine whether an artery is blocked, closed, or narrowed. According to a study released by the World Health Organization in 2017, approximately 17.7 million people died of cardiovascular disease in 2015, accounting for approximately 31% of global deaths. Of these deaths, approximately 7.4 million died of coronary heart disease and 6.7 million died of stroke. As the prevalence of cardiovascular diseases increases, the demand for angiography (a diagnostic technique) is expected to increase, which in turn will lead to the growth of the global vascular closure device market.
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There are almost no recalls in this market, which has proven to be a major constraint to the global vascular closure device market’s growth. In 2017, Abbott Vascular recalled 66 lots of StarClose SE vascular systems due to difficulties in deploying clips.
In addition, the vascular closure device manufacturing players have successfully raised investor funds to expand their business. In 2016, Vivasure Medical, a company that developed a new bioresorbable technology for percutaneous vascular closure, received $ 18.3 million in Series C funding. This round of funding was led by LSP (Life Sciences Partners) of the Netherlands, invested by LSP Health Economics Fund and invested by Evonik Ventures.
Major companies contributing in the global vascular closure device market are Cardiva Medical, Inc., Cardinal Health, Inc., Transluminal Technologies LLC, Medtronic Plc., Vasorum Ltd., Abbott Laboratories, Morris Innovative Inc., Vivasure Medical Ltd., Vascular Closure Systems, Inc., Essential Medical, Inc., and Terumo Corporation.
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Table of Content
Global Vascular Closure Device Market Research Report
Section 1: Global Vascular Closure Device Industry Overview
Section 2: Global Economic Impact on Vascular Closure Device Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Vascular Closure Device Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Vascular Closure Device Market Forecast
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