Global Vascular Closure Devices Market was valued US$ 760.06 Mn in 2019 and is expected to reach US$ XX Mn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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High prevalence of cardiovascular diseases, high incidence of obesity and a rising need for minimally invasive procedures are boosting the global vascular closure devices market growth. Additionally, increasing healthcare expenditure and demand for new treatment options along with the rise in government support are expected to drive the growth of the market.
The increasing interventional procedures using radial access, the high cost of vascular closure devices, and the risks associated with vascular closure devices are the major restraints for the market. Need for highly skilled professionals are the major challenge for the global vascular closure devices market.
The vascular closure devices market is segmented into product, end user, access, hole size, and region. In terms of product, vascular closure devices market is segmented into passive approximators and active approximators. Based on end user segment, vascular closure devices market is sub segmented into interventional cardiology, interventional radiology & vascular surgery. Further access, vascular closure devices market is sub segmented into femoral, and radial. In terms of hole size, vascular closure devices market is sub segmented into small hole and large hole.
Based on regions, the global vascular closure devices market is segmented into North America, Europe, Asia-pacific, Latin America and Middle East & Africa.Vascular closure devices are used to achieve hemostasis after a cardiovascular procedure.
In terms of product, Active approximators are dominated the VCD industry owing to high-efficiency rate and presence of broad product portfolio in this segment. Also, many companies are focusing on this segment for the release of new products. Passive approximators are the fastest growing segment as they provide reliable and quick hemostasis of vascular access site.
On the basis of the end user, the interventional cardiology segment is expected to dominate the market due to the high prevalence of cardiovascular diseases and the rapidly increasing heavy population.
Based on access, the femoral access segment is estimated to account for the XX% share of the market owing to an increasing number of cardiologists and physicians opting for femoral access in interventional procedures, and the market is expected to witness significant growth during the forecast period.
Geographically, Asia Pacific is the fastest growing market for the vascular closure devices due to the rising population and increasing standard of living. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.
The key player operating in global vascular closure devices market are Medtronic W.L. Gore, Cook Medical, Boston Scientific, C.R. Bard, Terumo, Abbott Vascular, BTG, Cardinal Health, Philips, Cardiovascular Systems Inc., Sirtex, Maquet, and Endologix.
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Global Vascular Closure Devices Market, by Product:
• Passive Approximators
• Active Approximators
Global Vascular Closure Devices Market, by End User:
• Interventional Cardiology
• Interventional Radiology & Vascular Surgery
Global Vascular Closure Devices Market, by Access:
• Femoral
• Radial
Global Vascular Closure Devices Market, by Hole Size:
• Large Hole
• Small Hole
Global Vascular Closure Devices Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key player’s operating in Global Vascular Closure Devices Market:
• Medtronic
• W.L. Gore
• Cook Medical
• Boston Scientific
• C.R. Bard
• Terumo
• Abbott Vascular
• BTG
• Cardinal Health
• Philips
• Cardiovascular Systems Inc.
• Sirtex
• Maquet
• Endologix
• Teleflex
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