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Global vascular closure device market estimated to experience a hike in growth by 2024 scrutinized in new research

Global vascular closure device market estimated to experience a hike in growth by 2024 scrutinized in new research

Global Vascular Closure Device Market By Type {Passive Approximators (Collagen Plugs Sealent/Gel Based), Active Approximators (Clip, Suture Devices)}, Access (Femoral, Radial), Procedure (Interventional Cardiology, Radiology), End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others), Distribution Channel (Direct Tenders, Retail), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2024

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Global Vascular Closure Device Markethas accounted for USD 895.4 million in 2016 growing at a CAGR of 7.30% in the forecast period 2017 to 2024. The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Major Market Drivers and Restraints:

  • Rising rate of cardiovascular diseases and obesity
  • New technological development for ease and safety
  • Growth due to geriatric population
  • Preference of non-invasive procedure
  • High price of vascular closure device
  • Product failure and cancellation
  • Adopting more of Interventional Procedures Using Radial Artery Access

The global vascular closure device market is segmented on the basis of product type, access, procedure, end-user, and distribution channel.

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On the basis of types, global vascular closure device market is segmented into passive approximators and active approximators.

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Passive approximators are further divided into collagen plugs sealent or gel based whereas active approximators are sub segmented into clip and suture devices.

In 2015, active approximators held majority of shares whereas in 2017, passive approximators are expected with the highest share in the vascular closure devices market.

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On the basis of access, global vascular closure device market is segmented into femoral and radial. Here, femoral vascular closure device market holds majority of shares in 2015 as compared to radial vascular closure device market and is expected to dominate in the forecast period 2017-2024

On the basis of procedure, global vascular closure device market is segmented into interventional cardiology and radiology. Interventional cardiology is expected to dominate the market in the forecast period 2017- 2024 rise in future and would applied to related diseases such as cardiovascular diseases and obesity.

On the basis of geography global vascular closure device market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.

In 2017, North America is expected to dominate the market.

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Global Vascular Closure Device Market: Major Players:

Some of the major players operating in global vascular device market are Abbott  (U.S.),  Transluminal Technologies  (U.S.), Cardiva Medical, Inc. (U.S.), TERUMO Corporation (Japan), TZ Medical, Inc (U.S.), Vivasure Medical Ltd. (Ireland), Cardinal Health  (U.S.), ESSENTIAL MEDICAL, INC, (U.S.), ENDOCOR  GmbH (Germany), Vasorum Ltd. (Ireland), Morris Innovative (U.S.),  Medtronic  (Ireland), Vascular Closure Systems, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), St. Jude Medical, LLC ( USA) and many more.

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