Industry Background:
Growing preferences towards non- invasive procedure with new technological development in medical imaging will help to boost global vascular closure device market. Vascular Closure Devices (VCD) are medical devices used for diagnostic and psychosocial treatment and help in endovascular imaging to identify coronary artery diseases. It is used to achieve vascular hemostasis after the puncture of the femoral artery during diagnostic interventional procedures or angiography procedures. Growing research and clinical trials for vascular closure devices, the high-efficiency rate of the vascular closure devices are projected to boost the growth of the vascular closure devices market globally. The key purpose of a vascular closure device is to make available of fast hemostasis of the artery as well as decrease complications. There are three types of vascular closure devices including passive vascular closure devices, active vascular closure devices, and external hemostatic devices. Passive vascular closure devices further classified into plug-based devices, sealant or gel-based devices, and compression assist devices. Active vascular closure devices are further diversified into clip-based devices, suture-based devices, and gamma-retroviral vectors.
According to AMA, the market for Vascular Closure Devices is expected to register a CAGR of 6.8% during the forecast period to 2027. This growth is primarily driven by Number of Vascular Closure Devices Have Received Approval from Government in Key Region, Rising Rate of Cardiovascular Diseases and Obesity and Growth Due To Geriatric Population.
Globally, a noticeable market trend is evident High Efficiency Rate of the Vascular Closure Devices
. The Medical Devices sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Abbott (United States), Transluminal Technologies (United States), Cardiva Medical, Inc. (United States), TERUMO Corporation (Japan), TZ Medical, Inc (United States), Vivasure Medical Ltd. (Ireland), Cardinal Health (United States), ESSENTIAL MEDICAL, INC, (United States), ENDOCOR GmbH (Germany) and St. Jude Medical, LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 18th December 2018, Cardiva Medical, Inc. an innovator in the field of vascular closure, has received PMA approval from the U.S. Food and Drug Administration (FDA) for the VASCADE MVP Venous Vascular Closure System.
Market Drivers
- Number of Vascular Closure Devices Have Received Approval from Government in Key Region
- Rising Rate of Cardiovascular Diseases and Obesity
- Growth Due To Geriatric Population
Market Trend
- High Efficiency Rate of the Vascular Closure Devices
- High Prevalence of Cardiovascular Diseases
Restraints
- High Price of Vascular Closure Device
- Product Failure and Cancellation
Opportunities
New Technological Development for Ease and Safety and Rising Demand for Advanced Treatment
Challenges
Rising Threats of Substitutes
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Vascular Closure Devices Study Sheds Light on
The Vascular Closure Devices Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Vascular Closure Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vascular Closure Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.