The global vascular closure devices market is projected to USD 1.3 billion by 2026 from USD 0.9 billion in 2021, at a CAGR of 7.0% during the forecast period. North America dominated the global vascular closure devices market, followed by Europe.
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Emerging markets providing growth opportunities for market players and growth in the number of hospitals & surgical centers are expected to offer strong growth opportunities for players in the market.
Passive approximators segment dominated the Vascular closure devices market
The large share of this segment can be attributed to the increasing number of approvals for vascular closure devices and the wide range of advantages associated with these devices, such as ease of use and reduced complication rate in patients.
The interventional radiology segment to witness the highest CAGR during the forecast period.
The large share is attributed to the diagnosis and treatment of numerous cardiovascular disorders due to advancements in angioplasty and cardiac stenting and the growing prevalence of cardiac disorders globally.
North America was the largest regional market for vascular closure devices market
The large share of the North American market can be attributed to the rising prevalence of cardiovascular diseases, the growing trend of one-day surgeries for vascular procedures, increasing research and clinical trials for vascular closure devices in the US, the increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Canada.
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Key Market Players
The prominent players operating in this market include Terumo Corporation (Japan), Abbott (US), Cardinal Health (US), Cardiva Medical, Inc. (US), and Medtronic Plc. (Ireland).
Report Objectives
· To define, describe, and forecast the global vascular closure devices market based on type, access, procedure, and region
· To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
· To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall vascular closure devices market
· To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
· To forecast the size of the market segments with respect to four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World
· To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
· To track and analyze competitive developments such as acquisitions, product launches, and agreements in the vascular closure devices market
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