The Report Vascular Closure Device (VCD) Market Size & Forecast By Product (Active
Approximators, Suture-Based Devices, Clip-Based Devices, Passive Approximators,
Collagen Plugs, Sealant/Gel-Based Devices, Compression-Assist Devices, External
Hemostatic Devices), By End-Use (Acute Care Facilities, Hospitals, Clinics),
And Trend Analysis From 2018 – 2024
Global vascular closure devices (VCDs)
market is anticipated to reach USD 1.3 billion by 2024, according to a new
report by Grand View Research, Inc. Growing popularity of femoral artery
cardiac catheterization and high success rate of VCDs for improved patient
comfort and shortening of hemostasis time are potential factors for the
projected growth of VCDs market over the forecast period. Adoption of VCDs for
diagnostic and therapeutic interventions that facilitate endovascular
image-guided interventions to detect coronary heart disease are expected to
contribute toward the growth of this market throughout the forecast period.
Moreover,
ability of VCDs to overcome complications, such as prolonged bed rest and
patient discomfort caused by manual compression, is expected to revolutionize
the market growth over the forecast period.
Access Research Report of Vascular Closure Device (VCD) Market @ www.grandviewresearch.com/industry-analysis/vascular-closure-device-vcd-market
Further Key Findings
from the Study Suggest:
· VCDs offer three types of products, which includes active
approximators, passive approximators, and external hemostatic devices. Out of
all three, active approximators dominated the market in 2015 as they shorten
the time to ambulation and possess high efficiency rate.
· Amongst the different end-users of VCDs, acute care
facilities accounted for the largest share and are expected to maintain their
dominant position over the forecast period. This is attributed to the rising
popularity of VCDs in acute care treatment facilities.
· Asia Pacific is estimated to witness the fastest growth
over the forecast period owing to the presence of unmet demands by the
hospitals and rising R&D investment in this region.
· Some key players operating in this industry include
Cardinal Health; Abbott Laboratories; COOK; Medtronic; W L. Gore &
Associates; Boston Scientific Corporation; Biotronik GMBH & CO.KG; TZ
Medical, Inc.; C. R. Bard, Inc.; ST. JUDE MEDICAL; Cardiva Medical, Inc.; Merit
Medical Systems, Inc.; ESSENTIAL MEDICAL, INC; and Scion BioMedical.
· This market is expected to witness lucrative growth owing
to high level of competitive rivalry, which translates to high revenue
generation in this sector. These prominent players are opting for different
strategies to boost their status in this market. Companies are involved in
developing novel VCDs and in turn broaden their product portfolios. Acquisition
and collaboration with small companies in order to enhance presence is also
expected to propel growth in this vertical.
· For instance, in October 2015, Cardinal Health acquired
Johnson & Johnson's Cordis business. Cordis is a leader in manufacturing
and marketing of cardiology and endovascular devices. This acquisition was
intended to expand Cardinal’s VCD product catalog to reinforce its status in the
market.
· North America dominated the market in 2015, with over 33%
of total revenue. The presence of key players in this region, which are
primarily involved in marketing and development of innovative VCDs, to
facilitate cardiac surgeries can be attributed to the largest share of North
America. Demand of products for monitoring of coronary artery disease is also
expected to drive growth.
Grand View Research has segmented vascular closure
devices market on the basis of product, end use, and region:
Global Vascular
Closure Devices Outlook, by Product (Revenue, USD Million, 2013 - 2024)
·
Active Approximators
o Suture-based
Devices
o Clip-based
Devices
·
Passive Approximators
o Collagen
Plugs
o Sealant-
or Gel-based Devices
o Compression-Assist
Devices
·
External Hemostatic Devices
Global Vascular
Closure Devices Outlook, by End Use (Revenue, USD Million, 2013 - 2024)
·
Acute Care Facilities
·
Hospitals
·
Clinics
Global Vascular
Closure Devices Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
·
Latin America
o Brazil
o Mexico
o Argentina
o Chile
o Colombia
o Peru
o Venezuela
o Ecuador
o Panama
o Costa
Rica
·
MEA
o South
Africa
Access
Press Release of Vascular Closure Device
(VCD) Market @ www.grandviewresearch.com/press-release/global-vascular-closure-device-vcd-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
