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Strategic Ways To Accelerate Your Revenue Growth In Vascular Closure Devices Market

Vascular closure devices are relatively high-priced devices compared to manual compression devices. The average price of a vascular closure device is about USD 150–USD 250 while that of a manual compression device is about USD 15–USD 25. The cost of VCDs essentially adds up to the patient’s hospitalization bill and even increases the per patient cost for hospitals and simultaneously reduces profits.

The report provides an overall understanding of the market. In this report, the market is segmented on the basis of type, access, procedures, and geographies. The type segment includes passive approximators, active approximators, and external hemostasis devices. Among these type segments, the passive approximators segment is expected to account for the largest share of the vascular closure devices market in 2017. The access segment includes femoral access and radial access. The procedure segment includes interventional cardiology and interventional radiology/vascular surgery. The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates.

Geographic analysis reveals that the North American segment is expected to account for the largest share of the market in 2017, owing to the increasing prevalence of cardiovascular diseases in the U.S., growing trend of one-day surgery for vascular procedures, and the increasing number of research and clinical trials for vascular closure devices.

The major players in this market are Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), and Cardiva Medical Inc. (U.S.).

Target Audience for this Report:
  • Vendors/service providers
  • Research institutes
  • Contract research organizations (CROs)
  • Contract manufacturing organizations (CMOs)
  • Interventional cardiology vascular device manufacturers
  • Healthcare institutions (hospitals, medical schools, group practices, individual surgeons, and governing bodies)
  • Niche companies manufacturing novel vascular closure devices
  • Research and consulting firms
Scope of the Report

To know about the assumptions considered for the study, download the pdf brochure

This research report categorizes the global market into the following segments and subsegments:

Vascular Closure Devices Market, by Type
  • Passive Approximators
  • Collagen Plugs
  • Sealant- or Gel-based Devices
  • Compression-assist Devices
  • Active Approximators
  • Suture-based Devices
  • Clip-based Devices
  • External Hemostatic Devices
Vascular Closure Devices Market, by Access
  • Femoral
  • Radial
Vascular Closure Devices Market, by Procedure
  • Interventional Cardiology
  • Interventional Radiology/Vascular Surgery
Vascular Closure Devices Market, by Geography
  • North AmericaU.S.Canada
  • EuropeU.K.GermanyFranceRest of Europe (RoE)
  • Asia-Pacific
  • Rest of the World (RoW)
Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographical Analysis
  • Further breakdown of the rest of Europe segment into France, Finland, Sweden, and Switzerland
Company Information
  • Detailed analysis and profiling of additional market players (up to 5)
The Passive Approximators segment to grow at the highest CAGR during the forecast period

On the basis of type, the global vascular closure device market is segmented into passive approximators, active approximators, and external hemostatic devices. In 2017, passive approximators segment accounted for the largest share of ~ 67% of the global vascular closure device market. The passive approximators consist of a plug, sealant, or a gel that can be deployed at the arteriotomy site to passively close the femoral artery. The passive approximators segment is further divided into collagen plugs, sealant or gel-based devices, and compression assist devices. The large share of this market can be attributed to the large number of approvals for vascular closure devices and the high prevalence of cardiovascular disease and obesity. However, the high cost of vascular closure devices and the increasing popularity of interventional procedures using radial arteries are likely to limit market growth to a certain extent.

The global vascular closure devices market is expected to reach USD 984.6 million by 2022. The key factors propelling the growth of the the vascular closure devices market are the rising prevalence of cardiovascular diseases, increase in obese population, increasing number of regulatory approvals, and increasing focus of market players on large-bore vascular closure devices.

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