Global Vascular Closure Devices Market Size, Share, Trends, Industry Growth by Type (Passive Approximators, Active Approximators, External Hemostatic Devices), by Access (Femoral Access, Radial Access), by Procedure, by End-User, by Region, and Forecast to 2028

Report ID: RC4436 | Report Format: PDF + Excel | Starting Price: 3600/- USD | Last Updated: June 27th, 2023

The global vascular closure devices market size is anticipated to grow at a significant CAGR of over 6% and expected to reach around USD 1.5 billion by 2028. The rising prevalence of cardiovascular diseases and the increasing approval of vascular closure devices are some major factors driving the market growth. Furthermore, the increasing adoption of minimally invasive and non-invasive procedures, the growing geriatric population, and the increasing use of the product for immediate sealing of arteries after medical procedures are further expected to fuel the market growth. Moreover, the increasing investment in healthcare infrastructure and the growing number of hospitals & surgical centers are projected to propel the market over the forecast period.

Market Drivers:

Increasing Prevalence of Vascular Diseases: The prevalence of vascular diseases, such as peripheral artery disease (PAD) and cardiovascular diseases, is on the rise globally. Vascular closure devices are used to achieve hemostasis and secure the puncture site following vascular procedures, such as angiography and angioplasty. The growing incidence of vascular diseases drives the demand for vascular closure devices.

Minimally Invasive Procedures: There is a growing preference for minimally invasive procedures in the field of vascular interventions. Vascular closure devices enable efficient and effective closure of arterial access sites without the need for surgical sutures or manual compression. Minimally invasive procedures offer benefits such as shorter hospital stays, faster recovery, reduced complications, and improved patient outcomes, contributing to the market growth of vascular closure devices.

Technological Advancements in Device Design and Delivery Systems: Continuous technological advancements have led to the development of advanced vascular closure devices with improved designs and delivery systems. These devices offer enhanced safety, efficacy, and ease of use, making them more reliable and efficient in achieving hemostasis. Technological advancements drive the adoption and market growth of vascular closure devices.

Increasing Adoption of Interventional Cardiology and Radiology Procedures: Interventional cardiology and radiology procedures, such as angioplasty, stenting, and embolization, have become standard practices for the diagnosis and treatment of various vascular conditions. These procedures require effective closure of arterial access sites, creating a demand for vascular closure devices.

Aging Population and the Prevalence of Chronic Diseases: The global aging population and the increasing prevalence of chronic diseases, such as diabetes and hypertension, contribute to the demand for vascular closure devices. Elderly individuals and patients with chronic diseases often require vascular interventions, and the use of closure devices improves post-procedural outcomes in these populations.

Favorable Reimbursement Policies: Favorable reimbursement policies and insurance coverage for vascular closure procedures encourage the adoption of vascular closure devices. Accessible and comprehensive reimbursement options facilitate patient access to these devices, supporting market growth.

Advantages over Manual Compression: Vascular closure devices offer several advantages over manual compression, which is the traditional method of achieving hemostasis. Closure devices provide consistent and reliable closure, reduce time to hemostasis, and allow for early ambulation. These benefits attract both patients and healthcare providers, driving the demand for vascular closure devices.

Growing Healthcare Expenditure and Infrastructure Development: The overall increase in healthcare expenditure and infrastructure development, especially in developing economies, drives the growth of the vascular closure devices market. Improvements in healthcare infrastructure and access to advanced medical technologies support the adoption of vascular closure devices.

Increasing Focus on Patient Safety and Comfort: Vascular closure devices prioritize patient safety and comfort by reducing the risks of complications associated with manual compression, such as hematoma formation, prolonged immobilization, and patient discomfort. The emphasis on patient-centric care drives the adoption of vascular closure devices.

Collaboration and Strategic Partnerships: Collaboration and strategic partnerships between medical device manufacturers, healthcare providers, and research institutions drive innovation and market growth. Such collaborations facilitate the development of new and improved vascular closure devices, as well as their effective distribution and adoption.

Market Snapshot:

Benchmark Year 2022
Market Size ~ USD 1.5 Billion by 2028
Market Growth (CAGR) > 6% (2023-2030)
Largest Market Share North America
Analysis Period 2020-2030
Market Players Abbott, BIOTRONIK, Cardinal Health, Cardiva Medical, Inc., and Medtronic plc

Market Insights:

The vascular closure devices market is bifurcated into type, access, procedure, end-user, and geography. On the basis of type, the market is further segmented into passive approximators, active approximators, and external hemostatic devices. The active approximators segment dominated the global market in 2021 and expected to maintain its dominance over the forecast period. The increasing use of the product for sealing an artery after medical procedure by end-users is a major factor in driving the segment growth. Furthermore, higher safety, lower risk, and improved patient comfort are some other features associated with the active approximators that are expected to drive the demand for the product over the forecast period.

On the basis of end-user, the market is segmented into hospitals, ambulatory surgical centers, and cardiac catheterization laboratories. The hospitals segment dominated the global vascular closure devices market in 2021 and is expected to maintain its dominance over the forecast period. The segment is accounted to hold the largest revenue share of around half of the market by the end of the analysis period. The high procedural rate in diagnostic and interventional cardiology is a major factor driving the segment growth. Furthermore, the increasing number of hospitals and the increasing investment in healthcare infrastructure is further expected to fuel the segment growth over the forecast period.

Vascular Closure Devices Market Size & Forecast

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The vascular closure devices comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The vascular closure devices market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2019-20 – Historical Year
  • 2021 – Base Year
  • 2022-2028 – Forecast Period

Market Segmentation:

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

By Access:

  • Femoral Access
  • Radial Access

By Procedure:

  • Interventional Cardiology
  • Interventional Radiology/Vascular Surgery

By End-User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

Geographically, North America dominated the global vascular closure devices market in 2021 and expected to maintain its dominance over the forecast period. The rising prevalence of vascular diseases and the increasing trend of one-day surgery are some major factors driving the market growth in the region. Furthermore, the increase in research and clinical trials, the rising number of cardiac cases, and the growing investment in healthcare infrastructure are anticipated to fuel the segment growth over the forecast period.

Competitive Assessment:

Some of the major market players operating in the global vascular closure devices market are Abbott, BIOTRONIK, Cardinal Health, Cardiva Medical, Inc., and Medtronic plc. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Abbott
  • BIOTRONIK
  • Cardinal Health
  • Cardiva Medical, Inc.
  • Medtronic plc
  • Merit Medical Systems, Inc.
  • Teleflex Incorporated
  • Terumo Medical Corporation
  • Tricol Medical
  • Z-Medica, LLC
  • KOAG LLC

Key Questions Answered by Vascular Closure Devices Market Report

  • Global vascular closure devices market forecasts from 2022-2028
  • Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
  • Vascular closure devices submarket forecasts from 2022-2028 covering the market by type, by access, by procedure, by end-user, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level vascular closure devices markets from 2022-2028
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Vascular Closure Devices Market Portraiture
2.2. Global Vascular Closure Devices Market, by Type, 2021 (USD Mn)
2.3. Global Vascular Closure Devices Market, by Access, 2021 (USD Mn)
2.4. Global Vascular Closure Devices Market, by Procedure, 2021 (USD Mn)
2.5. Global Vascular Closure Devices Market, by End-User, 2021 (USD Mn)
2.6. Global Vascular Closure Devices Market, by Geography, 2021 (USD Mn)

 

3. Global Vascular Closure Devices Market Analysis


3.1. Vascular Closure Devices Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Vascular Closure Devices Market By Type, 2019 – 2028 (USD Mn)


4.1. Overview
4.2. Passive Approximators
4.2.1. Collagen Plugs
4.2.2. Sealant or Gel-based Devices
4.2.3. Compression Assist Devices
4.3. Active Approximators
4.3.1. Suture-based Devices
4.3.2. Clip-based Devices
4.4. External Hemostatic Devices

 

5. Global Vascular Closure Devices Market By Access, 2019 – 2028 (USD Mn)


5.1. Overview
5.2. Femoral Access
5.3. Radial Access

 

6. Global Vascular Closure Devices Market By Procedure, 2019 – 2028 (USD Mn)


6.1. Overview
6.2. Interventional Cardiology
6.3. Interventional Radiology/Vascular Surgery

 

7. Global Vascular Closure Devices Market By End-User, 2019 – 2028 (USD Mn)


7.1. Overview
7.2. Hospitals
7.3. Ambulatory Surgical Centers
7.4. Cardiac Catheterization Laboratories

 

8. North America Vascular Closure Devices Market Analysis and Forecast, 2019 – 2028 (USD Mn)


8.1. Overview
8.2. North America Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
8.3. North America Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
8.4. North America Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
8.5. North America Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
8.6. North America Vascular Closure Devices Market by Country, (2019-2028 USD Mn)
8.6.1. U.S.
8.6.1.1. U.S. Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
8.6.1.2. U.S. Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
8.6.1.3. U.S. Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
8.6.1.4. U.S. Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
8.6.2. Canada
8.6.2.1. Canada Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
8.6.2.2. Canada Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
8.6.2.3. Canada Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
8.6.2.4. Canada Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)

 

9. Europe Vascular Closure Devices Market Analysis and Forecast, 2019 – 2028 (USD Mn)


9.1. Overview
9.2. Europe Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.3. Europe Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.4. Europe Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.5. Europe Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
9.6. Europe Vascular Closure Devices Market by Country, (2019-2028 USD Mn)
9.6.1. Germany
9.6.1.1. Germany Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.6.1.2. Germany Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.6.1.3. Germany Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.6.1.4. Germany Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
9.6.2. U.K.
9.6.2.1. U.K. Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.6.2.2. U.K. Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.6.2.3. U.K. Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.6.2.4. U.K. Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
9.6.3. France
9.6.3.1. France Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.6.3.2. France Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.6.3.3. France Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.6.3.4. France Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
9.6.4. Italy
9.6.4.1. Italy Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.6.4.2. Italy Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.6.4.3. Italy Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.6.4.4. Italy Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
9.6.5. Rest of Europe
9.6.5.1. Rest of Europe Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
9.6.5.2. Rest of Europe Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
9.6.5.3. Rest of Europe Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
9.6.5.4. Rest of Europe Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)

 

10. Asia Pacific Vascular Closure Devices Market Analysis and Forecast, 2019 – 2028 (USD Mn)


10.1. Overview
10.2. Asia Pacific Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
10.3. Asia Pacific Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
10.4. Asia Pacific Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
10.5. Asia Pacific Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
10.6. Asia Pacific Vascular Closure Devices Market by Country, (2019-2028 USD Mn)
10.6.1. China
10.6.1.1. China Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
10.6.1.2. China Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
10.6.1.3. China Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
10.6.1.4. China Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
10.6.2. Japan
10.6.2.1. Japan Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
10.6.2.2. Japan Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
10.6.2.3. Japan Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
10.6.2.4. Japan Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
10.6.3. India
10.6.3.1. India Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
10.6.3.2. India Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
10.6.3.3. India Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
10.6.3.4. India Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
10.6.4. Rest of Asia Pacific
10.6.4.1. Rest of Asia Pacific Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
10.6.4.2. Rest of Asia Pacific Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
10.6.4.3. Rest of Asia Pacific Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
10.6.4.4. Rest of Asia Pacific Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)

 

11. Latin America (LATAM) Vascular Closure Devices Market Analysis and Forecast, 2019 – 2028 (USD Mn)


11.1. Overview
11.2. Latin America Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
11.3. Latin America Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
11.4. Latin America Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
11.5. Latin America Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
11.6. Latin America Vascular Closure Devices Market by Country, (2019-2028 USD Mn)
11.6.1. Brazil
11.6.1.1. Brazil Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
11.6.1.2. Brazil Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
11.6.1.3. Brazil Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
11.6.1.4. Brazil Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
11.6.2. Mexico
11.6.2.1. Mexico Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
11.6.2.2. Mexico Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
11.6.2.3. Mexico Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
11.6.2.4. Mexico Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
11.6.3. Rest of Latin America
11.6.3.1. Rest of Latin America Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
11.6.3.2. Rest of Latin America Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
11.6.3.3. Rest of Latin America Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
11.6.3.4. Rest of Latin America Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)

 

12. Middle East and Africa Vascular Closure Devices Market Analysis and Forecast, 2019 – 2028 (USD Mn)


12.1. Overview
12.2. MEA Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
12.3. MEA Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
12.4. MEA Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
12.5. MEA Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
12.6. Middle East and Africa Vascular Closure Devices Market, by Country, (2019-2028 USD Mn)
12.6.1. GCC
12.6.1.1. GCC Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
12.6.1.2. GCC Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
12.6.1.3. GCC Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
12.6.1.4. GCC Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
12.6.2. South Africa
12.6.2.1. South Africa Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
12.6.2.2. South Africa Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
12.6.2.3. South Africa Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
12.6.2.4. South Africa Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)
12.6.3. Rest of MEA
12.6.3.1. Rest of MEA Vascular Closure Devices Market by Type, (2019-2028 USD Mn)
12.6.3.2. Rest of MEA Vascular Closure Devices Market by Access, (2019-2028 USD Mn)
12.6.3.3. Rest of MEA Vascular Closure Devices Market by Procedure, (2019-2028 USD Mn)
12.6.3.4. Rest of MEA Vascular Closure Devices Market by End-User, (2019-2028 USD Mn)

 

13. Company Profiles


13.1. Abbott
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. BIOTRONIK
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. Cardinal Health
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Cardiva Medical, Inc.
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. Medtronic plc
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Merit Medical Systems, Inc.
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Teleflex Incorporated
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Terumo Medical Corporation
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. Tricol Medical
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Z-Medica, LLC
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
13.11. KOAG LLC
13.11.1. Business Description
13.11.2. Financial Health and Budget Allocation
13.11.3. Product Positions/Portfolio
13.11.4. Recent Development
13.11.5. SWOT Analysis
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