Rising Worldwide Prevalence of Cardiovascular Disorders to Majorly Increase Usage of Vascular Closure Devices: Fact.MR Report

Vascular Closure Devices Market Analysis By Type (Active Approximators, Passive Approximators & External Hemostatic Devices) By Access (Formal & Radial), By Procedure (Interventional Cardiology Interventional Radiology/Vascular Surgeries) & By Region – Global Market Insights 2022 to 2026

United States, Rockville MD, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Global vascular closure device sales are projected to increase at a CAGR of 6.6% over the next four years. As of 2022, the vascular closure devices market stands at a valuation of US$ 834 million and is projected to reach US$ 1.1 billion by the end of 2026.

Rising prevalence of cardiovascular disorders across the world is a prime factor that is projected to propel vascular closure device demand over the forecast period. High incidence of obesity, growing awareness of cardiovascular illnesses, and rapid technological advancements in vascular closure systems are other factors that will drive demand for vascular closure devices through 2026.

Vascular closure device manufacturers are projected to focus on expanding their business scope and increasing their sales potential.

  • In May 2022, Vivasure Medical, a leading name in the vascular closure devices industry, announced a Series D financing round to advance its product portfolio. The funding will be used to advance the PerQseal Vessel Closure Device product line. The first part of the financing of this round was closed at around US$ 23 million.

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Key Takeaways from Market Study

  • The global vascular closure devices market accounts for a valuation of US$ 834 billion.
  • The market is projected to progress rapidly at a CAGR of 6.6% through 2026.
  • The market for vascular closure devices is predicted to climb to US$ 1.1 billion by 2026.
  • Growing geriatric population, increasing incidence of heart disorders, rising number of cardiovascular surgeries, and supportive government initiatives to boost awareness of cardiovascular illnesses are expected to majorly drive vascular closure devices market growth.
  • High costs of vascular closure systems and risks associated with vascular closure device use are expected to restrain market potential to some extent going forward.
  • The U.S. vascular closure devices market currently accounts for a revenue of US$ 342 million.
  • The vascular closure devices market in China is set to evolve at a high CAGR of 8% through 2026 and hold a market value of US$ 109 million.

Advancements in technology are expected to be an area of prime focus for vascular closure device manufacturers over the coming years,” says a Fact.MR analyst

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Winning Strategy

Product innovation is anticipated to be a major area of focus for all key vascular closure device market players over the coming years. Vascular closure device companies are expected to witness an increase in investments in their R&D divisions as they focus on launching novel products to meet the increasing demand across the world.

Fact.MR, a market research and competitive intelligence provider, has created a comprehensive assessment of the current as well as predicted competitive landscape, in this latest vascular closure devices market research report.

Competitive Landscape :

Vascular closure device manufacturers are anticipated to focus on novel product innovation and are expected to fast-track the launch of these new products to increase their sales potential.

  • In September 2021, Haemonetics Corporation, a renowned medical technology company, announced the launch of the VASCADE MVP® Venous Vascular Closure System.
  • In May 2022, Teflex Incorporated, a specialty surgical instrument manufacturer, announced that its Manta vascular closure device received approval from Health Canada. With this approval, Teflex is expected to commercialize and launch the Manta closure device for Canadian patients.

Key Segments in Vascular Closure Devices Industry Research

  • By Type :
    • Active Approximators
    • Passive Approximators
    • External Hemostatic Devices
  • By Access :
    • Femoral
    • Radial
  • By Procedure :
    • Interventional Cardiology
    • Interventional Radiology/Vascular Surgeries
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global vascular closure devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.

The study divulges essential insights on the market on the basis of type (active approximators, passive approximators, external hemostatic devices), access (femoral, radial), and procedure (interventional cardiology, interventional radiology/vascular surgeries), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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