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With an initial valuation of $1.12B in 2023, the Vascular Closure Devices Market Size is expected to reach $1.19B by 2030, rising from $1.22B in 2024 at a CAGR (compound annual growth rate) of 9.30%. During percutaneous coronary and peripheral vascular procedures, vascular closure devices (VCDs) are intended to accomplish hemostasis more quickly. Research has demonstrated that compared to traditional manual compressions, VCDs shorten both the time to hemostasis (TTH) and the time to movement (TTA). These are the main factors that are propelling the industry forward.
Globally, cardiovascular diseases (CVDs) rank high among the top killers. The American Heart Association (AHA) reports that 18.6 million people died in 2019 due to cardiovascular diseases (CVDs), with the majority of those casualties occurring in Central Asia and Eastern Europe. Nearly half of all Americans will be living with a cardiovascular disease by 2030, according to the American Heart Association. Thus, the need for interventional procedures like catheterization to diagnose and treat CVDs is projected to rise in tandem with the frequency of CVDs. Vascular closure devices are expected to have strong growth in the market in the next years, driven by the rising popularity of these operations.
When contrasted with manual compression devices, vascular closure devices are more expensive. A vascular closure device can cost anywhere from $150 to $250, while a manual compression device can be had for around $15 to $25. Hospitals see an increase in their per-patient costs and a decrease in their earnings due to the high cost of VCDs, which ultimately add up to patients' hospital bills. In contrast to vascular closure devices, manual compression devices have a far lower price tag. As a result, the market expansion is being hindered by the high cost of vascular closure devices. Another important obstacle limiting the market for vascular closure devices is that hospitals are not compensated for them.
In both affluent and developing nations, surgery centers and hospitals are proliferating. Due to the growing patient population, these recently opened surgical centers and hospitals have a significant need for surgical equipment, including medical devices such vascular closure devices. One example is the UK prime minister's announcement in October 2020 of a USD 4.3 billion investment for 40 hospitals, with additional plans to support 48 hospitals by 2030. India and China are only two examples of developing nations whose healthcare systems have advanced greatly in the past decade. An item from January 2020 states that China has committed to spending $4.6 billion on Wuhan hospital building. Key end users of vascular closure devices, hospitals and surgical centers, are anticipated to fuel the vascular closure devices market's expansion.
One area of surgery where the development of less intrusive techniques is ongoing is vascular surgery. Many modern medical specialties rely on angiograms as a primary diagnostic tool, including interventional radiology, vascular surgery, and interventional cardiology. The industry is poised to benefit from the increasing number of people suffering from cardiovascular disease. Vascular closure devices will be in high demand due to the increased use of vascular catheterization procedures brought about by the rise in cardiovascular disorders. Because they lessen bleeding and encourage a quicker return to equilibrium, angiographic operations are growing in popularity in response to the increasing prevalence of valvular illnesses, myocardial infarction, and congenital heart diseases. It is common practice to use physical compression at the entry location when administering these therapies.
One of the major reasons driving the vascular closure devices market is the increasing number of cardiovascular disorders in the population. Several reasons are driving the expansion of the other indirect vascular closure devices market, including the increasing concentration of market participants on large-bore vascular closure devices and rising personal disposable income. Market growth potential for vascular closure devices are expected to be fueled by an increase in approvals for these devices and a growing desire for non-invasive procedures. Another factor that will boost sales is the increasing number of people who are overweight.
Report Coverage
Global Vascular Closure Device research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vascular Closure Device report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vascular Closure Device competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vascular Closure Device market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vascular Closure Device market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vascular Closure Device market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Abbott Laboratories, Terumo Corporation, Cardinal Health Inc., Cardiva Medical Inc., Morris Innovative Inc., Medtronic plc, Essential Medical Inc., Merit Medical Systems Inc., TZ Medical Inc., and Vasorum Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Vascular Closure Device market based on the below-mentioned segments:
Global Vascular Closure Device Market, By Type
Passive Vascular Closure Device
Active Vascular Closure Device
External Hemostatic Device
Global Vascular Closure Device market, By Application
Diagnostic
Therapeutic
Global Vascular Closure Device Market, By Procedures
Interventional Cardiology
Interventional Radiology
Global Vascular Closure Device market, Regional Analysis
Globally, cardiovascular diseases (CVDs) rank high among the top killers. The American Heart Association (AHA) reports that 18.6 million people died in 2019 due to cardiovascular diseases (CVDs), with the majority of those casualties occurring in Central Asia and Eastern Europe. Nearly half of all Americans will be living with a cardiovascular disease by 2030, according to the American Heart Association. Thus, the need for interventional procedures like catheterization to diagnose and treat CVDs is projected to rise in tandem with the frequency of CVDs. Vascular closure devices are expected to have strong growth in the market in the next years, driven by the rising popularity of these operations.
When contrasted with manual compression devices, vascular closure devices are more expensive. A vascular closure device can cost anywhere from $150 to $250, while a manual compression device can be had for around $15 to $25. Hospitals see an increase in their per-patient costs and a decrease in their earnings due to the high cost of VCDs, which ultimately add up to patients' hospital bills. In contrast to vascular closure devices, manual compression devices have a far lower price tag. As a result, the market expansion is being hindered by the high cost of vascular closure devices. Another important obstacle limiting the market for vascular closure devices is that hospitals are not compensated for them.
In both affluent and developing nations, surgery centers and hospitals are proliferating. Due to the growing patient population, these recently opened surgical centers and hospitals have a significant need for surgical equipment, including medical devices such vascular closure devices. One example is the UK prime minister's announcement in October 2020 of a USD 4.3 billion investment for 40 hospitals, with additional plans to support 48 hospitals by 2030. India and China are only two examples of developing nations whose healthcare systems have advanced greatly in the past decade. An item from January 2020 states that China has committed to spending $4.6 billion on Wuhan hospital building. Key end users of vascular closure devices, hospitals and surgical centers, are anticipated to fuel the vascular closure devices market's expansion.
One area of surgery where the development of less intrusive techniques is ongoing is vascular surgery. Many modern medical specialties rely on angiograms as a primary diagnostic tool, including interventional radiology, vascular surgery, and interventional cardiology. The industry is poised to benefit from the increasing number of people suffering from cardiovascular disease. Vascular closure devices will be in high demand due to the increased use of vascular catheterization procedures brought about by the rise in cardiovascular disorders. Because they lessen bleeding and encourage a quicker return to equilibrium, angiographic operations are growing in popularity in response to the increasing prevalence of valvular illnesses, myocardial infarction, and congenital heart diseases. It is common practice to use physical compression at the entry location when administering these therapies.
One of the major reasons driving the vascular closure devices market is the increasing number of cardiovascular disorders in the population. Several reasons are driving the expansion of the other indirect vascular closure devices market, including the increasing concentration of market participants on large-bore vascular closure devices and rising personal disposable income. Market growth potential for vascular closure devices are expected to be fueled by an increase in approvals for these devices and a growing desire for non-invasive procedures. Another factor that will boost sales is the increasing number of people who are overweight.
Report Coverage
Global Vascular Closure Device research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Vascular Closure Device report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Vascular Closure Device competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Vascular Closure Device market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Abbott Laboratories, Terumo Corporation, Cardinal Health Inc., Cardiva Medical Inc., Morris Innovative Inc., Medtronic plc, Essential Medical Inc., Merit Medical Systems Inc., TZ Medical Inc., and Vasorum Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Vascular Closure Device Market from 2021 to 2031.
- Market Forecast for Vascular Closure Device Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Vascular Closure Device competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Vascular Closure Device
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Vascular Closure Device market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Vascular Closure Device market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Abbott Laboratories, Terumo Corporation, Cardinal Health Inc., Cardiva Medical Inc., Morris Innovative Inc., Medtronic plc, Essential Medical Inc., Merit Medical Systems Inc., TZ Medical Inc., and Vasorum Ltd.
Primary Target Market
- Market Players of Vascular Closure Device
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Vascular Closure Device market based on the below-mentioned segments:
Global Vascular Closure Device Market, By Type
Passive Vascular Closure Device
Active Vascular Closure Device
External Hemostatic Device
Global Vascular Closure Device market, By Application
Diagnostic
Therapeutic
Global Vascular Closure Device Market, By Procedures
Interventional Cardiology
Interventional Radiology
Global Vascular Closure Device market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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