The Vascular Closure Device Market is Estimated to Witness High Growth Owing to Technological Advancements
The Vascular Closure Device Market is Estimated to Witness High Growth Owing to Technological Advancements
Blog Article
Vascular closure devices are medical devices used to close cut downs or punctures in an artery following a cardiac catheterization or angiography procedure. These closure devices eliminate the need for applying manual compression to close the puncture site in the artery, thereby reducing time in recovery for the patient. Vascular closure devices provide faster hemostasis by facilitating quicker ambulation and reduced time to discharge from the hospital or clinic. According to coherent market InsightsVascular Closure Device Market is estimated to be valued at USD 1,533.6 Mn in 2025 and is expected to reach USD 2,321.2 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2025 to 2032.
Key Takeaways
Key players operating in the vascular closure device market are Abbott, Cardiva Medical Inc., Terumo Corporation, Johnson & Johnson.
Vascular Closure Device Market Growth provide faster hemostasis post cardiac catheterization and angiography procedures, enabling reduced hospital stay and quicker return to normal activities for patients. Rapid ambulation allows increased number of procedures to be performed.
Technological advancements in vascular closure devices include active and passive approval mechanisms for achieving hemostasis, biodegradable materials for sutures and clips used in closure devices. Improved design and ease of use of newer devices has enhanced adoption in clinics and hospitals.
Market Drivers
Increasing prevalence of cardiovascular diseases leading to rising number of cardiac catheterization and angiography procedures performed annually is a major market driver. Growing geriatric population also contributes to higher incidence of interventional cardiology procedures.
Faster recovery and reduced hospital stay provided by vascular closure devices lowers healthcare costs associated with cardiac procedures. This factor has boosted uptake of vascular closure devices across hospitals and clinics.
Regulatory approvals and commercial launches of newer generation vascular closure devices incorporating advanced technologies is propelling market revenue growth. Improved safety profiles of newer devices is further expanding the addressable market size.
Current Challenges in Vascular Closure Device Market
The vascular closure device market is facing several challenges that are hindering its growth. Product recalls due to safety issues have increased in the market. Several closure devices have failed to properly seal the puncture site resulting in complications. Improper sealing increases the risks of bleeding and infection which can considerably extend hospital stays. High medical costs associated with vascular closure procedures also restrict the market's potential. Moreover, lack of reimbursement policies for vascular closure devices in many countries pose significant challenges. Alternative techniques for manual compression continue to dominate in several developing regions due to their lower costs.
SWOT Analysis
Strength: Vascular closure devices provide advantages over manual compression in terms of reduced time spent, lower risk of site infection and greater patient comfort. They enable faster recovery and discharge.
Weakness: Product recalls due to safety issues have dented consumer confidence in the market. High costs of closure devices also limit their adoption in price sensitive regions.
Opportunity: Growth opportunities exist in expanding approval for use in various vascular interventional procedures. Rising cardiac stent procedures will boost demand.
Threats: Alternative manual compression techniques continue to dominate in developing regions due to lower costs. Strong bargaining power of healthcare providers pressures companies to reduce prices.
Geographical Regions: North America accounts for the largest share of the global vascular closure device market, both in terms of value and volume. Factors such as increasing percutaneous coronary interventions, rising healthcare spending, growing adoption of interventional radiology procedures, and supportive reimbursement policies drive the North American market.
Fastest Growing Region: Asia Pacific is poised to witness the highest growth rate during the forecast period. Factors such as improving healthcare infrastructure, increasing healthcare expenditures, rising incidence of cardiovascular diseases, growing medical tourism industry are fueling the demand for vascular closure devices in Asia Pacific. Growing population, rising awareness about device based hemostasis techniques, and expansion of key market players in the region will further support market growth.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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