As per Business Intelligence Insights (BII) study, the global Vascular Closure Devices Market attained revenue growth of USD 871.90 million in 2021 and it is projected to reach around USD 1464.81 million by 2028, growing at a 7.20% CAGR.

Market Dynamics :

Vascular Closure Devices have transformed the structure of cardiovascular treatments because to advancements in medical technology. VCDs reduce the time it takes to achieve hemostasis and address the issue, enhancing patient comfort and boosting market growth prospects. Factors responsible for the significant growth in the market are large number of approvals for vascular closure devices, high prevalence of cardiovascular diseases, increasing prevalence of obesity, increasing focus of market players on large-bore vascular closure devices.  Emerging markets are expected to offer significant growth opportunities for market players, as well as an increase in the number of hospitals and specialty clinics.

The major factor driving the growth of vascular closure devices in the market is unmet medical demands in developing countries over the upcoming years. The vascular closure devices are used to repair the arteries that have been damaged.

One of the primary factors driving the growth of the vascular closure device market is the rising prevalence of cardiovascular disorders among the population. Other indirect vascular closure device market growth drivers include market participants' increasing focus on large-bore vascular closure devices and rising personal disposable income. Manual compression devices, on the other hand, have very cheap prices as compared to vascular closure devices. As a result, the high cost of vascular closure devices is a major constraint for market growth during the forecast period.

 

Revenue-generating Segment Highlights :

 

By Product

Endoscopes Vascular closure Visualization Systems

 

 

By Application

Gastrointestinal (GI) vascular closure Laparoscopy Obstetrics/gynaecology vascular closure Arthroscopy Urology vascular closure (cystoscopy) Bronchoscopy Mediastinoscopy Otoscopy Laryngoscopy Other applications

 

 

By End-use

Hospitals Ambulatory surgery centres Another end uses

 

By Region

North America

o    U.S.

o    Canada

Europe

o    Germany

o    U.K.

o    France

o    Italy

o    Spain

o    Rest of Europe

Asia Pacific

o    China

o    India

o    Japan

o    Rest of Asia Pacific

Latin America

o    Brazil

o    Mexico

o    Rest of Latin America

Middle East and Africa

o    UAE

o    South Africa

o    Rest of Middle East and Africa (MEA)

 

List of key players :

 

Olympus Corporation Ethicon Endo-surgery LLC FUJIFILM Holdings Corporation Stryker Corporation Boston Scientific Corporation Karl Storz GmbH & Co. KG. Smith & Nephew Inc. Richard Wolf GmbH Medtronic Plc (Covidien) PENTAX Medical Machida Endoscope Co., Ltd. Amway Corp (US) Others

 

Key Highlights of the Report :

  Passive approximators as a product led the vascular closure devices market in 2021 with the significant share of 36.5% in the market,The growing number of vascular closure device approvals, as well as the wide range of benefits associated with these devices, such as ease of use and lower patient complication rates, can be contributed to this segment's significant fraction. Also, increasing number of products falling in this category, such as Angio-Seal, X-Seal, Minx, Fast Seal, is expected to boost revenue generation for passive approximator VCDs over the forecast period.  Vascular closure devices come in a variety of forms, including. Gastroenterology segment dominated the market with the highest revenue share of 36.3%and it is the most common application mode in the global healthcare sector. The market is expected to witness steady growth in the long term due to the increasing number of femoral artery cardiac. Femoral Access has a significant market share. There are fewer complications associated with arterial access because to the general preference for this access route among cardiologists and clinicians during interventional procedures. Interventional cardiology and interventional radiology/vascular surgery are included in this market segment.  The North America vascular closure devices market increased rapidly in both developed and developing countries and accounted for the highest share of n 45% in the global revenue. 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 long waiting periods for cardiac surgeries (which encourage the adoption of minimally invasive procedures) in Furthermore, rising rates of cardiovascular disease in the United States are projected to boost VCD use in this region. Canada are all factors contributing to the large share of the North American market.  The report contains qualitative and quantitative research on the global vascular closure devices Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Read our strategic analysis : https://www.businessintelligence-insights.com/press-release/45/vascular-closure-devices-market

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