Europe Vascular Closure Devices Market By Type (Passive Approximators, Active Approximators, External Hemostatic Devices), By Access (Femoral And Radial Access), By Procedure (Interventional Cardiology, Radiology/Vascular Surgery), By End User (Acute Care Facilities, Hospitals And Clinics) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
The Europe Vascular Closure Devices Market was worth USD 171.1 Million in 2016 and is estimated to be growing at a CAGR of 6.9%, to reach USD 238.8 Million by 2021. Vascular closure devices are used to achieve homeostasis after puncturing of an artery during catheterization procedures.
Puncturing is normally done to femoral artery to conduct angiogram tests or for endovascular surgeries.
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The vascular closure devices include suture or small piece of collagen or a metallic clip.
VCDs have achieved significant growth since their introduction. Prior to the introduction of VCDs, manual compression was used to achieve homeostasis.
It is a painful procedure and it requires anti coagulation agents and it also requires bed rest for patients for long periods of time. VCDs decreased the time and effort required for stopping the blood flow and increased the comfort for patients.
Decrease in access site complications due to the usage of VCDs, decrease in discharge time and increase in the cardiovascular devices are the major factors driving the vascular closure devices market. Increase in popularity for minimally invasive surgeries and increased adoption of latest technology and devices in healthcare are also expected to drive the market.
Lack of awareness of physicians regarding the disadvantages of using VCDs at the wrong time, rising cost of implantable VCDs are inhibiting the growth rate of the market.
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The Europe vascular closure devices market is categorized based on the type, access, procedure, end user and by region. Based on the type of devices, the market is categorized into passive approximators, Active Approximators and External Hemostatic Devices.
Active approximators segment is projected to hold the largest share in the VCDs market due to their high efficiency. Passive approximators are again categorized into Sealant or Gel based devices, Collagen plugs and Compression assist devices.
Active approximators are again categorized into Suture based devices and clip based devices. Based on access to the artery, the market is categorized into Femoral and radial access.
Femoral access the largest market share because it is largely adopted by physicians around the globe. Based on procedure involved, the market is categorized into interventional cardiology and interventional radiology or vascular surgery.
Based on end user, the market is categorized into acute care facilities, hospitals and clinics. Acute care facilities are the largest market segment due to the increase of emergency cases in cardiovascular diseases.
The Europe vascular closure devices market is geographically segmented into UK, Germany, France, Spain and Italy. Increase in the per capita income of people and disposable incomes with increasing cardiovascular diseases are responsible for growth of the market.
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Key players in Europe vascular closure devices market are Biotronik GMBH & CO.KG, Abbott Vascular, Cardinal Health, Merit Medical Systems, Inc., Medtronic, Cardival Medical, Inc., Boston Scientific Corporation, Essential Medical, Inc., W L. Gore & Associates; St. Jude Medical, TZ Medical, Inc. and Scion BioMedical.
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