Boston, MA, February 24, 2016 --(PR.com
)-- This report analyzes the Vascular closure devices global market in terms of market revenue ($ million) for all segments and it enables vascular closure products manufacturers, vascular closure products distributors and wholesalers, contract manufacturers, vascular care associations, physician’s office, clinics, hospitals and other associated stake holders to identify and analyze market expansion opportunities, upcoming technologies, technological developments, competition in vascular closure devices global market.
Vascular closure is a procedure done for the closure of the punctured arterial wall after the performance of the catheterization procedure using the active and passive approximators. The active and passive approximators are the vascular closure device that reduce the blood loss with better hemostasis and reduce the time of ambulation with an increase the patient comfort. They are designed to provide quick and reliable hemostasis of access site after the invasive catheterization procedure. They were introduced in the 1990’s to overcome the complications caused by the manual compression. The vascular closure devices global market is expected to grow at a high single digit CAGR to reach $1,665.2 million by 2022. The vascular closure devices global market is segmented by product type, access, intervention and geography.
The factors driving the growth of this market are increasing catheterization related procedures (PCI), preference for minimally-invasive solutions & rise in vascular procedures, ease in usage and quick hemostatic properties of VCDs, and increased utilization of transradial arterial access are driving the growth of the market. High price of products, complications associated with VCD, less adoption of novel technologies in emerging countries are hampering the market of vascular closure. Reduced reimbursement, usage of animal related sources and lower revenue potential of VCD are threats for the market growth.
The vascular closure device global market is segmented by product type, access, intervention and geography. Products are sub segmented into active and passive approximator products. Under the active approximators there are clips, suture mediated devices, and plugs. Plugs market is again classified into FISH, collagen based and polymer based. Under the passive approximators there are hemostatic pads and compression devices. By intervention the vascular closure markets are divided into diagnostic and therapeutic. Based on the access site the market is segmented into femoral access and radial access.
Geographical wise North America is the largest market, followed by Europe and Asia Pacific. The North America regions suggest an array of opportunities for growth and are likely to be getting into the eyes of new investors in the vascular closure market. Growth is attributed to rising prevalence of lifestyle diseases and government initiatives in establishing innovative technologies and demand for sophisticated medical services.
Some of the key players of the vascular closure market are Abbott Laboratories (U.S.), Advanced Vascular Dynamics (U.S.), B Braun Melsungen AG (Germany), Biotronik Corpotation (Germany), C R Bard International (U.S.), Cardinal Health (U.S.), Cardiva medical (U.S.), Morris Innovative (U.S.), Scion Biomedical (U.S.), St Jude Medical (U.S.), Terumo Corporation (Japan) and Vascular Solutions, Inc (U.S.).