Stratview Research has recently added a new report titled Vascular Closure Device Market to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Vascular Closure Device Market.
The years considered in this report to estimate the market size of the market are:
• History Year: 2016-2019
• Forecast Year: 2021 to 2026
The key players covered in this report are –
- Terumo (Japan)
- Abbott Laboratories (US)
- Cordis (US)
- Cardiva Medical (US)
- Medtronic (Ireland)
- Morris Innovative (US)
- Essential Medical (US)
- Merit Medical (US)
- Vasorum (Ireland)
- TZ Medical (US).
The Vascular Closure Device market is projected to grow from USD 0.9 billion in 2020 to USD 1.3 billion by 2026 at a CAGR of over 7.3% during the forecast period. Increasing incidents of cardiovascular disease across the globe is a key factor bolstering the product demand. Also, a shift of medical facilities toward minimally invasive procedures coupled with the usage of imaging technologies & radiotherapy has created lucrative growth opportunities for the market players. Moreover, the deployment of imaging technologies to monitor cardiac functions is likely to further increase the demand for heart surgeries, thus boosting the industry’s growth in the coming years.
Based on device type, the global vascular closure device market has been classified into passive approximators, active approximators, and external hemostatic devices. Under these, the active approximators segment held the largest market share of around 60% in 2020 and is likely to grow at a considered CAGR during the forecast period. Active vascular closure device uses different methods for direct closure of artery entry site by using suture or collagen-based products. Moreover, growing product availability catering to a larger population offers revenue generation avenues, thus bolstering the segment growth.
By region, the North American market held a significant market share of almost 45% in 2020 and is projected to grow at a healthy CAGR in the coming years. Rising healthcare expenditure, favorable reimbursement scenario, growing hospitalizations associated with cardiovascular diseases boosts the patient inflow in facilities, further augments the regional market growth.
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The main steps in the investigation process are:
- Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.
- The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.
- This report also provides market intelligence and throws light on critical insights into the market dynamics.
The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.
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