You are here
Vascular Closure Devices Market 2019 Global Industry Analysis By Size, Growth, Merger, Share, Trends, Competitive Landscape, And Regional Forecast To 2023
Vascular Closure Devices Market Research Report, by Product Type (Passive Vascular Closure Device, Active Vascular Closure Device, External Hemostatic Device), Access (Femoral, Radial), Procedures (Interventional Cardiology, Interventional Radiology), Application (Diagnostic, Therapeutic), End User (Hospitals & Clinics, ASCs) – Global Forecast Till 2023
Market Research Future (MRFR) speculates that the global vascular closure devices market is slated to register a CAGR of 6.8% during the forecast period (2018-2023). The increasing approvals for vascular closure devices are highly favoring the market growth across the globe. Vascular closure devices are referred to as medical devices which are specifically used to seal puncture of the femoral artery in the patients undergoing interventional procedures or diagnostic angiography procedures. These devices are considered an alternative to manual compression as they offer immediate sealing of the femoral artery access site.
Market Potential and Pitfalls
The market’s course is chiefly directed by the rising approval for vascular closure devices, increasing support, and initiatives by the government, and growing demand for advanced treatment. With augmenting research and clinical trials for vascular closure devices coupled with the new product launches by the market players, the global vascular closure devices market is considered to flourish during the appraisal period. Moreover, the high-efficiency rate of vascular closure devices is likely to influence the market growth in the coming years. As per the CDC, coronary heart disease has caused around 370,000 deaths in the U.S. in 2017. Factors such as increased prevalence of cardiovascular diseases and the rising prevalence of obesity across the globe have further contributed to the growth of the market. Moreover, factors such as increased investments by the government organizations, untapped market opportunities especially in the emerging economies, and augmenting adoption rate of minimally invasive techniques are influencing the market growth to a large extent.
There has been frequent approval of novel vascular closure devices by the regulatory bodies, which has further intensified the growth of the market. For instance, Vivasure Medical Ltd. received the CE Mark for bioabsorbable percutaneous closure device in 2016 for large-bore transcatheter techniques. Moreover, the accelerating demand for angiography owing to the rising incidences of cardiovascular diseases is estimated to influence the market growth.
Avail Free Sample Copy at https://www.marketresearchfuture.com/sample_request/5704
On the flip side, malfunctioning and poor quality of the devices and their underperformances are some of the top barriers considered to vitiate the market growth globally. Such reasons are responsible for lost revenues to the companies and product replacements, which further create a negative impact on the product, thereby limiting its adoption.
Global Vascular Closure Devices Market: Segmental Analysis
The global vascular closure devices market has been segmented on the basis of access, product type, application, procedures, and end user.
By mode of product type, the global vascular closure devices market has been segmented into active vascular closure devices, passive vascular closure devices, and external hemostatic devices.
By mode of access, the global vascular closure devices market has been segmented into radial access and femoral access. Among these, the femoral access is predicted to gain significance in the coming years as an increased number of physicians and cardiologists are opting for femoral access in interventional procedures.
February 06, 2019: Teleflex has recently received its FDA premarket approval for a device which has been specifically designed to seal femoral punctures followed by vascular access medical procedures and to speed the healing of the wound.
The prominent players operating in the global vascular closure devices market are Vivasure Medical Ltd., Vascular Closure Systems Inc., TZ Medical Inc., Cardinal Health Inc., Essential Medical Inc., Cardiva Medical Inc., Merit Medical Systems Inc., Morris Innovative Inc., Abbott Laboratories, Transluminal Technologies LLC, Terumo Corporation, Vasorum Ltd., and Medtronic plc.
Access Report Details @ https://www.marketresearchfuture.com/reports/vascular-closure-devices-market-5704
Market Research Future
+1 646 845 9312
The reports of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.