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Vascular Closure Device Market Size

  • Report ID: GMI1967
  • Published Date: Jul 2023
  • Report Format: PDF

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.

 

Vascular Closure Device Market

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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.

Authors: Mariam Faizullabhoy , Shishanka Wangnoo

Frequently Asked Questions (FAQ) :

Vascular closure devices industry was valued at USD 1.5 billion in 2022 and is poised to depict 6.5% CAGR from 2023 to 2032 owing to the increasing number of patients suffering from cardiovascular diseases worldwide.

Active segment is expected to witness tremendous growth and reach USD 1.8 billion by 2032 due to the rising preference for minimally invasive procedures in interventional radiology and cardiology.

North America vascular closure device market size generated more than USD 689 million in revenue in 2022 and is estimated to witness notable CAGR from 2023-2032 owing to the increasing prevalence of cardiovascular illnesses and the availability of advanced healthcare infrastructure.

Some of the key vascular closure device companies include Scion BioMedical, Abbott, Terumo Corporation, Cardinal Health, Inc., Medtronic, plc, Teleflex Incorporated, TZ Medical, Tricol Biomedical, Cardiva Medical Inc., and Marine Polymer Technologies.

Vascular Closure Device Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 13
  • Tables & Figures: 416
  • Countries covered: 30
  • Pages: 250
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