The vascular closure devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Vascular Closure Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The vascular closure devices market size has grown strongly in recent years. It will grow from $1.42 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in minimally invasive procedures, aging population demographics, patient preference for shorter recovery times, increased catheterization lab procedures, focus on outpatient care..
The vascular closure devices market size is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rise in ambulatory surgery centers, shift toward same-day discharge, patient-centric approaches, healthcare cost containment initiatives, increasing incidence of cardiovascular diseases.. Major trends in the forecast period include adoption of percutaneous coronary intervention, global collaboration in medical research, remote patient monitoring, integration with imaging technologies, technological innovations in device design..
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Scope Of Vascular Closure Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Vascular Closure Devices Market Overview
Market Drivers –
The increasing prevalence of cardiovascular diseases is expected to drive the growth of the vascular closure devices market. Cardiovascular disease (CVD) refers to conditions that affect the structures or function of the heart or blood vessels, affecting blood flow to the heart. Vascular closure devices (VCDs) are a substitute for conventional mechanical compression to close the femoral artery and offer rapid sealing of the femoral artery access site, potentially resulting in quicker attainment of hemostasis and a reduced risk of bleeding or hemorrhage following placement. For instance, in June 2023, according to the Immigration and Checkpoints Authority, a Singapore-based law enforcement agency, the number of people who died from heart and hypertensive diseases in Singapore increased from 6,238 in 2021 to 6,884 in 2022. Therefore, the increasing prevalence of cardiovascular diseases is expected to propel the growth of the vascular closure devices market.
Market Trends –
Major companies operating in the vascular closure devices market are developing innovative products, such as the AZUR Vascular Plug, to increase profitability in the market. The AZUR Vascular Plug is a medical device that closes or blocks a blood vessel and is made of a self-expanding nitinol wire mesh. For instance, in July 2021, Terumo Medical Corporation, a Japan-based manufacturer of medical devices, launched the AZUR Vascular Plug for peripheral vascular embolization. It is a specially created plug that may occlude arteries up to 8 mm in diameter and is suggested to slow down or stop blood flow in arteries of the peripheral vasculature. It is compatible with a microcatheter. The AZURTM Vascular Plug has a short deployment length for improved precision and is available in sizes to treat vascular architecture ranging from 2.5mm to 8mm. It has an inner composite membrane of polytetrafluoroethylene (ePTFE) and polyethylene terephthalate (PET) that facilitates mechanical occlusion.
The vascular closure devices market covered in this report is segmented –
1) By Type: Passive Approximators, Active Approximators, External Hemostatic Devices
2) By Access: Femoral Access, Radial Access
3) By End User: Acute Care Facilities, Hospitals, Clinics, Other End Users
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Regional Insights –
North America was the largest region in the vascular closure devices market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the vascular closure devices market report are Cardinal Health Inc., Abbott Laboratories, Medtronic plc, Koninklijke Philips NV, Boston Scientific Corporation, Terumo Corporation, C.R. Bard Inc., Cook Medical Inc., W. L. Gore & Associates Inc., Maquet Getinge Group, Teleflex Inc., BTG International Inc., Biotronik GMBH & CO.KG, Merit Medical System Inc., Vygon SA, Cardiovascular Systems Inc., Sirtex Medical Limited, Endologix LLC, TZ Medical Inc., Cardiva Medical Inc., Essential Medical Inc., KOAG LLC, Morris Innovative Inc., Vasorum Ltd., Scion BioMedical Inc., Z-Media LLC, Advanced Vascular Dynamics, Transluminal Technologies Inc., Tricol Medical Inc.
Table of Contents
1. Executive Summary
2. Vascular Closure Devices Market Report Structure
3. Vascular Closure Devices Market Trends And Strategies
4. Vascular Closure Devices Market – Macro Economic Scenario
5. Vascular Closure Devices Market Size And Growth
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27. Vascular Closure Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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