Vascular Closure Devices Market for External Hemostatic Devices, By Region, 2015–2022 (USD Million)
The global vascular closure devices market is expected to reach USD 984.6 Million by 2022 from USD 704.8 Million in 2017, at a CAGR of 6.9%. The major drivers for the market include many approvals for vascular closure devices, increasing focus of market players on large-bore vascular closure devices, the high prevalence of cardiovascular diseases, and high prevalence of obesity. On the other hand, the high cost of vascular closure devices, product recalls and failures, and increasing preference for interventional procedures using radial artery access are limiting the growth of the global market to a certain extent.
In this report, the market has been segmented based on type, access, procedures, and geographies. The type segment includes passive approximators, active approximators, and external hemostasis devices. Passive approximators are expected to account for the largest share of the market in 2017. Passive approximators are the most widely used vascular closure devices in the market owing to the wide range of advantages associated with them, including increased safety and fewer complications than manual procedures.
The access segment includes femoral access and radial access. The femoral access segment is estimated to account for the largest share of the market in 2017 owing to the widespread preference for this access route among cardiologists and physicians during interventional procedures as well as the fewer complications involved during arterial access.
Leading Market Players:
The major players in this market include Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), Cardiva Medical Inc. (U.S.), Morris Innovative, Inc. (U.S.), Medtronic plc (Ireland), Essential Medical, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland).
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