Global Vascular Closure Device Market To Reach $ 1 Billion By 2026 | State
SAN FRANCISCO, August 6, 2021 / PRNewswire / – A new market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Vascular Closure Devices – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 9; Posted: April 2021
Executive pool: 10443
Companies: 36 – Actors covered include Abbott Laboratories; Advanced vascular dynamics; Cardinal Health, Inc .; Cardival Medical, Inc .; Endocor GmbH; Medtronic API; Merit Medical Systems Inc .; Morris Innovative Inc .; Teleflex Incorporated; Terumo Company; Transluminal Technologies LLC; Tricol Medical Inc .; Vivasure Medical Ltd. and others.
Blanket: All major geographies and key segments
Segments: Type (passive approximators, active approximators, external hemostatic devices); Procedure (interventional cardiology, interventional radiology / vascular surgery); Access (femoral, radial)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
Free Project Preview – This is an ongoing global program. Preview our research program before making a purchase decision. We offer free access to qualified executives in charge of strategy, business development, sales and marketing and product management roles in selected companies. Insights provide privileged access to business trends; competing brands; profiles of experts in the field; and market data models and more. You can also create your own bespoke report using our MarketGlass™ Platform that offers thousands of bytes of data with no obligation to purchase our report. Registry overview
Global Vascular Closure Devices Market To Reach $ 1 billion by 2026
A vascular closure device is a medical device designed to provide rapid hemostasis and reduce vascular complications after percutaneous femoral access. Vascular closures also improve patient comfort, reduce discomfort associated with prolonged bed rest, facilitate early patient mobilization, and reduce length of hospital stay. These devices have emerged as an effective alternative to traditional mechanical compression for closing the femoral artery. Suture-based, metal clip vascular closures reduce hemostasis time compared to manual or mechanical compression. Vascular closure devices are widely used in patients undergoing cardiac catheterization through femoral arterial access. Cardiovascular procedures that require catheterization include interventional procedures such as angioplasty, coronary thrombectomy, and stenting, and diagnostic procedures that help diagnose diseased blood vessels. Most vascular closures leave foreign objects in the artery and / or surrounding soft tissue. Recent methods of closing the access site involve the use of new materials such as sealants composed of polyethylene glycol which dissolve over a short period of time.
In the midst of the COVID-19 crisis, the global vascular closure devices market estimated at US $ 731.5 million in 2020, is expected to reach a revised size of US $ 1 billion by 2026, with a CAGR of 6.8% over the analysis period. Passive approximations, one of the segments analyzed in the report, are expected to register a CAGR of 7.5% and reach US $ 783.3 million at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the active approximators segment is readjusted to a revised CAGR of 6% for the next 7 year period.
The US market is estimated at $ 323 million in 2021, when China is expected to reach $ 110.5 million by 2026
The market for vascular closure devices in the United States is estimated at 323 million US dollars in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 110.5 million by 2026, with a CAGR of 8.2% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 5.9% and 6.1% respectively during the analysis period. In Europe, Germany is expected to grow at around 6.4% CAGR.
The market is expected to experience steady growth in the long term owing to the increasing number of femoral artery cardiac catheterization, the benefits of reduced hemostasis time and increased patient comfort. Vascular closures seal punctures of the femoral artery in patients who have undergone interventional procedures or diagnostic angiography procedures. In countries around the world, approvals of new vascular closure devices are increasing. This, combined with other supporting factors and growing government initiatives and increasing patient demand for more advanced treatment options for cardiovascular disease, is expected to drive the market steadily over the long term. Market players are aggressively investing in finding new products, which is also a major growth driver in the market. Another important growth factor is the higher efficiency rate of new devices that have entered the market in recent years.
In today’s era where healthcare is cutting costs, there is a shift in focus for technologies from manual compression to hemostasis to vascular closure. Although these devices increase procedural costs, in the long run they are cost effective. Faster hemostasis reduces bleeding complications, saves post-procedure care time, increases patient throughput, speeds patient walk, and increases overall patient satisfaction. In addition, it supports hospitals following percutaneous coronary intervention (PCI) programs. The devices are classified into three sections: vascular closure devices that instantly close the vessel using a mechanical process; compression devices that attach to the patient to allow pressure on the arteriotomy site; and hemostatic pads comprising materials to fix the coagulation force to reduce the time to hemostasis. Typically, manual compression is used in combination with hemostatic pads.
Segment of external hemostatic devices to be reached $ 137.4 million by 2026
This category includes tampons or patches and helps promote coagulation by focusing the devices and coagulation factors, which manually put pressure on the arteriotomy. With the increased use of transradial access in several centers, the use of external hemostatic devices is increasing in various settings. Due to several advantages associated with transradial access over transfemoral access. Also in terms of cost, radial hemostatic devices are affordable compared to many VCDs, which are used after transfemoral access. In the global segment of external hemostatic devices, United States, Canada, Japan, China and Europe will lead to the estimated 4.6% CAGR for this segment. These regional markets representing a combined market size of US $ 91.9 million in 2020 will reach a projected size of US $ 125.8 million before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 9.3 million by 2026, while Latin America will increase at a CAGR of 4.9% throughout the analysis period. Following
Glass Market™ Platform
Our market Glass™ Platform is a comprehensive, free knowledge center that can be custom configured to meet the intelligence needs of today’s busy business leaders! This interactive influencer-driven research platform is at the heart of our core research engagements and draws on the unique perspectives of participating leaders from around the world. Features include – enterprise-wide peer-to-peer collaborations; overviews of research programs relevant to your business; 3.4 million profiles of experts in the field; competitive company profiles; interactive research modules; custom report generation; monitor market trends; competing brands; create and publish blogs and podcasts using our primary and secondary content; follow events in the field around the world; and much more. Client companies will have full insider access to the project’s data stacks. Currently used by over 67,000 subject matter experts around the world.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our mobile application which has just been released on ios or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for more than 33 years.
Director, Corporate Communications
Global Industry Analysts, Inc.
Email: [email protected]
Join our panel of experts
Connect with us on LinkedIn
Follow us on twitter
Journalists and media
View original content to download multimedia: https://www.prnewswire.com/news-releases/global-vascular-closure-devices-market-to-reach-1-billion-by-2026-301347985.html
SOURCE Global Industry Analysts, Inc.