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Vascular Closure Device Market Trends

Report ID: GMI1967
Published Date: Jul 2024
Report Format: PDF

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Vascular Closure Device Market Trends

The vascular closure device market is experiencing several notable trends that are shaping its growth and development. Factors such as continuous innovations in design and material, rise of minimally invasive treatments, growing adoption of radial access procedures, and surging need for integrated medical imaging technologies, among other factors are propelling the industry growth.

Continuous innovation in the design and functionality of VCDs is a major trend. This includes the development of bioabsorbable materials, which reduce the risk of long-term complications, and the integration of advanced sealing mechanisms that enhance device efficacy and safety. These advancements lead to improved patient outcomes and broaden the adoption of VCDs in clinical practice.
Further, there is an increasing focus on improving patient safety and outcomes in healthcare. VCDs contribute to this by providing reliable and quick hemostasis, reducing the risk of complications such as bleeding, hematoma, and infection. This focus enhances the adoption of VCDs in clinical practice, thereby aforementioned factors are expected to drive the market.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Global vascular closure device industry was valued at USD 1.7 billion in 2023 and is anticipated to register 6.3% CAGR between 2024 and 2032, driven by technological advancements in vascular closure devices and the rising popularity of minimally invasive procedures.

The active segment in the market was valued at USD 987.7 million in 2023, owing to the advanced technologies, such as bioabsorbable materials and improved sealing mechanisms.

North America vascular closure device market is anticipated to grow at 6.1% CAGR between 2024 – 2032 due to the large number of diagnostic and interventional cardiovascular procedures.

Abbott Laboratories, Advanced Vascular Dynamics, Biotronik SE & Co. KG, Cardinal Health, Inc., Ensite Vascular, Haemonetics Corporation (cardiva Medical Inc.), Marine Polymer Technologies, Medtronic, Plc, and Merit Medical Systems, among others.