Vascular Closure Device Market Size

Vascular Closure Device Market Size

Vascular Closure Device Market size was worth USD 1.5 billion in 2022 and is estimated to grow at 6.5% CAGR from 2023 to 2032 driven by the rapidly expanding geriatric patient pool worldwide.

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The rising number of people suffering from cardiovascular diseases will favor the market growth. According to the CDC estimates, cardiovascular disease results in 1 out of every 5 deaths in the U.S.  The surge in cardiovascular ailments has made way for increasing number of vascular catheterization procedures, in turn will driving the demand for vascular closure devices. The surging incidences of myocardial infarction, valvular diseases, and congenital heart diseases along with the adoption of angiographic procedures for reduced bleeding and faster homeostasis will accelerate the market trends.

The rising concerns regarding the increasing risks associated with the vascular closure devices during and after treatment may slow down the market expansion to some extent. Suture-mediated devices, for instance, can pose dangers, such as retroperitoneal hemorrhage, hematoma, pseudoaneurysm, and arteriovenous fistula. Local bleeding, arterial leg ischemia, and infections are further risks associated with these devices. Hence, the declining patient preference from pursuing surgeries incorporating such devices may reduce the product adoption.