Global Vascular Closure Device Market was valued at USD 1.05 billion billion in 2020, growing at a CAGR of 6.15% during the forecast period (2021-26), it is anticipated to reach USD 1.49 billion by 2026. The major factors such as the growing prevalence of cardiovascular disorders such as heart strokes, rising prevalence of risk factors associated with the cardiovascular diseases such as obesity and hypertension, increasing geriatric population, and the surge in the popularity of minimally invasive procedures, are expected to drive the vascular closure devices market share. Some of the Vascular Closure Device Companies with their products in various stages of development include Abbott, Teleflex Incorporated, Merit Medical Systems, Vivasure Medical Ltd, and several others.
DelveInsight’s “Vascular closure devices Market Insights and Forecast” report provides the current and forecasted Vascular closure devices Market trends for the next five years, upcoming innovation in the devices, individual vascular closure device market shares, challenges, drivers and barriers, and key competitors in the domain.
Vascular Closure Devices Overview
A vascular closure device is usually defined as a piece of collagen (a fibrous protein found in the skin, bone and connective tissue), metallic clip or sutures (stitch) that has been designed to provide immediate sealing of the small puncture treatment that is made in an artery after an angiogram.
Vascular Closure Devices Market Insights
Geographically, the global Vascular Closure Devices market is studied for North America, Europe, Asia-Pacific, and Rest of the World. In terms of revenue share North America currently leads the global market and is expected to remain constant during the forecast period. This domination is owing to the growing demand because of the high prevalence of obesity and cardiovascular disorders, rising population of the elderly, rising product launch and well-established reimbursement scenario for vascular closure devices in the region among other factors in the region. Furthermore, the prompt and well-established healthcare services and infrastructure contributes to the growth of the regional Vascular Closure Devices market growth. Moreover, the presence of key players in the region further provide immense growth opportunities for the Vascular Closure Devices market.
Interested in knowing how the Vascular Closure Devices Market will be growing by 2026? Click to get a snapshot of Vascular Closure Devices Market Outlook
Recent Breakthroughs In Vascular Closure Devices Market
In recent years, the Vascular Closure Devices Market observed expansions in terms of clinical, commercial, and clinical development.
- On February 13, 2019, Teleflex had announced the FDA Premarket Approval of MANTA™ Vascular Closure Device.
- On July 21, 2020, Boston Scientific had received the FDA approval for next-generation WATCHMAN FLX™ left atrial appendage closure device
- On December 19, 2018, Cardiva had won the FDA approval for its vascular closure system.
- On June 01, 2020, QualiMed had received the CE Mark Approval for GSQ and SCQ 5-F Vascular Devices.
As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Vascular Closure Devices market during the forecast period.
Key Players Proactively Working In the Vascular Closure Device Market
Key Vascular Closure Device companies contribute a lot to the development of these devices, they are also involved in mergers and acquisitions to strengthen their market position. Some of the companies operating actively in the Vascular Closure Device market include Abbott, Teleflex Incorporated, Terumo Medical Corporation, Cardinal Health, Cardival Medical, Inc., Merit Medical Systems, Medtronic, Morris Innovative, TZ Medical, Vasorum Ltd, Tricol Biomedical, Vivasure Medical Ltd, Transluminal Technologies, W. L. Gore & Associates, Inc., Meril Life Sciences Pvt. Ltd, Gem srl others, and many others.
COVID-19 Impact on Vascular Closure Devices Market
The COVID-19 pandemic had a profound impact on elective and non-urgent surgeries across the countries. The demand for Vascular Closure Devices is primarily affected by the outbreak of the COVID-19 pandemic. The government imposed lockdowns to curb the spread of virus leading to restrictions in movement and decrease in regular check-ups. Owing to the COVID-19 pandemic situation, various forms of elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority. This led to decrease in the surgery required for vascular closure devices.
However, decreasing number of cases, increasing vaccination number, and relief in lockdowns is expected to boost the demand for vascular closure devices. However, post-COVID-19 the healthcare system is trying to get normalcy owing to the resumed patent visits, opening of manufacturing facilities, leverage given in terms of lockdown restrictions among others. Hence, the demand for Vascular Closure Devices is expected to rise in the market in the post pandemic scenario during the forecast period.
To discuss more regarding the short/long-term impact of COVID-19 get a snapshot of the report Vascular Closure Devices Market Assessment
Scope of the Vascular Closure Devices Market Report
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation By Product– Active Approximators, Passive Approximators, and others.
- Market Segmentation By End-User – Hospitals, Ambulatory Surgical Centers, and others
- Market Segmentation By Geography – North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
- Key Vascular Closure Devices Companies in the Market – Abbott, Teleflex Incorporated, Terumo Medical Corporation, Cardinal Health, Cardival Medical, Inc., Merit Medical Systems, Medtronic, Morris Innovative, TZ Medical, Vasorum Ltd, Tricol Biomedical, Vivasure Medical Ltd, Transluminal Technologies, W. L. Gore & Associates, Inc., Meril Life Sciences Pvt. Ltd, Gem srl, and several others.
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL’s Views
- Analyst’s View
Table of Content
- Report Introduction
- Executive Summary
- Regulatory and Patent Analysis
- Vascular Closure Devices Market Key Factors Analysis
- Porter’s Five Forces Analysis
- COVID-19 Impact Analysis on Vascular Closure Devices Market
- Vascular Closure Devices Market Layout
- Global Company Share Analysis – Key 3-5 Companies
- Company and Product Profiles
- Project Approach
- KOL Views
- DelveInsight Capabilities
- About DelveInsight
To get a deeper understanding of key Vascular Closure Devices companies, get a snapshot of the Vascular Closure Devices Market Landscape
Key Takeaways from the Vascular Closure Devices Market Report Study
- Market size analysis for current vascular closure devices market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the vascular closure devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the global vascular closure devices market.
- Various opportunities available for the other competitor in the vascular closure devices market space.
- What are the top performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current vascular closure devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for vascular closure devices market growth in the coming future?
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