NEW YORK, April 22, 2019 (GLOBE NEWSWIRE) -- Global vascular closure device market is expected to reach USD 1,265 million by 2025, at a CAGR of 7.65% from 2019 to 2025. The market growth is primarily attributed to the rise in endovascular procedures, and increasing prevalence of cardiovascular diseases. Moreover, increasing aging population across the globe is further propelling the market growth. However, complications associated with VCD may restraint the industry growth to some extent.
Key findings of the report:
- The global vascular closure devices market is expected to reach USD 1,265 million in 2025, at a CAGR of 7.65% during 2019-2025
- On the basis of type,
- The active approximators segment accounted for the largest segment of the global vascular closure device market in 2018
- The passive approximators segment is likely to augment at the fastest CAGR of over the forecast period
- Based on the end-user, the hospitals segment held the major share of the global market in 2018
- North America held major share of the global market in 2018. Asia-Pacific region is expected to register highest CAGR during the forecast period
- Some of the key companies operating in the market include TERUMO CORPORATION, Cardival Medical, Inc. Cardinal Health, Inc., Teleflex Incorporated, Medtronic plc, Merit Medical Systems, and Abbott Laboratories, among others
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Vascular Closure Devices - Insight
Vascular disease is a medical term that refers to the narrowing of blood vessels. This type of disease is primarily found in neck, heart, and legs. In addition, if vascular disease does not cure early, it can lead to serious health problems. Vascular closure devices (VCD) technology is a relatively new technology that enables simple, rapid, and reliable hemostasis in variety of clinical settings. Moreover, VCD also serves in reduction of complication rates after femoral access, early ambulation, and provide superior patient comfort. Furthermore, there have been numerous technological innovations that have encouraged VCD to be one of the fastest growing segments within the interventional medical field. Many new pharmaceutical companies are showing a keen interest in developing these devices and they are investing hugely in their research and development activities.
Global Vascular Closure Devices Market– Regional insight
North America held the major share of the global market owing to growing adoption and development of vascular closure device along with increasing government initiative to support VCD in the region. Moreover, presence of prominent players in the region, as well as rising industry interest to access their own product is further fueling the industry growth. The industry growth in Europe attributed to the increasing number of interventional procedures and growing prevalence of cardiovascular disease in the region. Asia-Pacific is expected to witness the highest CAGR during the 2019-2025, owing to rise in endovascular procedures and rising prevalence of lifestyle diseases.
This report segments global vascular closure devices market based on type, access, procedure, end-user and geography.
By Type
- Passive Approximators
- Plug-Based Devices
- Sealant Or Gel-Based Devices
- Compression Assist Devices
- Active Approximators
- Collagen-Mediated Closure
- Mechanical or Clip-Based Closure
- Suture-Mediated Closure
- External Hemostatic Devices
By Access
- Radial Access
- Femoral Access
By Procedure
- Interventional Vascular Surgery
- Interventional Cardiology
By End-user
- Ambulatory Surgical Centers
- Hospitals
By Geography
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East and Africa
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