Global Vascular Closure Devices (VCDS) Market Report 2019: Market Value is Expected to Reach USD 2,365 Million in 2026

Global Vascular Closure Devices (VCDS) Market Report 2019: Market Value is Expected to Reach USD 2,365 Million in 2026

Vascular closure devices are medical devices used to achieve hemostasis of the small hole in the artery after a cardiovascular procedure of endovascular surgery requiring a catheterization. The devices seal the puncture site in an artery (the arteriotomy) through mechanical means rather than relying on the body’s natural clotting response.

Market Snapshot

This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Vascular Closure Devices (VCDS) market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.

The global vascular closure devices market is estimated to be USD 1,420 million in 2019 and is expected to reach USD 2,365 million by 2026, with a CAGR of 7.56% during the forecast period.

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Competitive Landscape

Boston Scientific Corporation

Cardiovascular Systems

Medtronic

Spectranetics

Abbott Laboratories

B. Braun Melsungen AG

C.R. Bard

Cordis Corporation (A Subsidiary of Johnson & Johnson Co.)

St. Jude Medical, Inc

Volcano Corporatio

Spectranetics International BV

Terumo Corporation

Growth Driver

Increasing adoption of minimally invasive surgeries, rising number of cardiovascular diseases and rise in aging population are the main factors driving the demand for vascular closure devices. Advanced novel materials with increase in technology, increasing awareness about the ease of use and comfort provided by VCDs also play a major role in driving the vascular closure devices market.

However, rising prices of implantable VCDs, certain risks such as groin infection associated with the use of VCDs and less adoption rate of emerging technologies in developing countries, these factors may act as roadblocks to the growth of the vascular closure devices market.

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Regional Overview

In 2018, the global vascular closure devices market was mainly concentrated in the three regions of Asia-Pacific, North America and Europe, with the market share of 25.40%, 33.24% and 27.16% respectively, accounting for a total of 85.8%.

North America is the largest market segment due to the increasing cardiovascular diseases and rising number of research activities and clinical trials for VCDs. The 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. Furthermore, a huge patient base in Asia-Pacific is likely to provide huge opportunities for the market players.

Type Overview

Important types of the product covered in this report include Active Approximators, Passive Approximators, External Hemostatic Devices, and Other.

Application Overview

Vascular Closure Devices (VCDS) is widely used in Acute Care Facilities, Hospitals, Clinics, and Other.

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Target Audience:

•     Vascular closure devices manufacturers

•     Healthcare organizations

•     Research & Clinical Laboratories

•     Distributors and resellers of vascular closure devices

•     Vascular closure devices industry associations

•     Product managers, vascular closure devices industry administrator, C-level executives of the industries

•     Market Research and consulting firms

• Base Year: 2018

• Estimated Year: 2019

• Forecast Period: 2019 to 2026

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