Vascular Closure Device Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.

Market Insights

The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The Vascular Closure Device market is projected to grow from USD 0.96 billion in 2021 to USD 1.56 billion by 2028 at a CAGR of over 7.16% during the forecast period of 2022-2028. Increasing incidents of cardiovascular disease across the globe is a key factor bolstering the product demand. Also, a shift of medical facilities toward minimally invasive procedures coupled with the usage of imaging technologies & radiotherapy has created lucrative growth opportunities for the market players. Moreover, the deployment of imaging technologies to monitor cardiac functions is likely to further increase the demand for heart surgeries, thus boosting the industry's growth in the coming years.

Market Segments' Analysis

According to Stratview Research, the Vascular Closure Device Market is segmented By Device Type (Passive Approximators, Active Approximators, External Hemostatic Devices), By Procedure (Interventional Cardiology, Interventional Radiology/Vascular Surgery), and Region.

Based on device type, the global vascular closure device market has been classified into passive approximators, active approximators, and external hemostatic devices. Under these, the active approximators segment held the largest market share of around 60% in 2020 and is likely to grow at a considered CAGR during the forecast period. Active vascular closure device uses different methods for direct closure of artery entry site by using suture or collagen-based products. Moreover, growing product availability catering to a larger population offers revenue generation avenues, thus bolstering the segment growth.

By region, the North American market held a significant market share of almost 45% in 2020 and is projected to grow at a healthy CAGR in the coming years. Rising healthcare expenditure, favorable reimbursement scenario, growing hospitalizations associated with cardiovascular diseases boosts the patient inflow in facilities, further augments the regional market growth.

Top key vendors in the market:

The report mentions a list of key players in the Vascular Closure Device Market. Some of them are mentioned below –

·         Terumo (Japan)

·         Abbott Laboratories (US)

·         Cordis (US)

·         Cardiva Medical (US)

·         Medtronic (Ireland)

·         Morris Innovative (US)

·         Essential Medical (US)

·         Merit Medical (US)

·         Vasorum (Ireland)

·         TZ Medical (US).

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