Global Vascular Closure Devices Market: Increasing Adoption of Minimally Invasive Equipment in Cardiac Surgeries to Support Growth of Market

Published Date : Aug 01, 2016

ALBANY, NY, Aug 01, 2016 - has added a new report, titled ‘Global Vascular Closure Devices Market 2016-2020,’ to its offering. This report presents an estimation on the size of the global vascular closure devices market in terms of both value and volume. It also encapsulates the prime threats and opportunities encountered by the prime vendors operating in this market and the steps taken by them to overcome these threats. The key challenges, drivers, and trends having an impact on the development of this market have also been highlighted under this study. The global vascular closure devices market is predicted to expand at an 8.67% CAGR between 2016 and 2020. 

The introductory section of this report presents the prime market highlights and the market landscape. The definition of vascular closure devices has also been presented under this section of the study. Vascular closure devices are utilized for both therapeutic and diagnostic interventions and aid in endovascular imaging for the detection of coronary artery diseases.

As per the report, the growing incidence of coronary artery diseases globally has raised the demand for these devices. In addition, the increasing preference for femoral cardiac catheterization will also stimulate the growth of the market for vascular closure devices. Further, the report states that the sale of these devices is bound to rise in the coming years owing to the increasing adoption of minimally invasive equipment in cardiac surgeries.

In the next section of the study, the segmentation of the global vascular closure devices market has been presented. On the basis of product, the report segments the market into passive and active approximators. Amongst these, the segment of active approximators currently leads the market and is predicted to dominate the market by representing a share of approximately 79% by the end of 2020. The increasing proliferation of devices utilized for closing femoral sites will support the development of approximators in the coming four years.

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By end use, the report categorizes the market into physician offices, hospitals, and ASCs. Of these, the segment of ASCs constituted the largest share of about 50% in the market in 2015. The reasons for the dominance of this segment include the availability of specialist physicians, recovery and operating rooms featuring less complicated administrative procedures, and cutting-edge operating equipment globally.

Geographically, the report segments the market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Among these, in 2015, the Americas led the market with a share of about 45%. In the Americas, the U.S. emerged as the chief revenue generator in 2015. The growing number of angiography procedures and the easy availability of reimbursements in case of catheterization are amongst the prime factors boosting the growth prospects of the vascular closure devices market in the Americas.

The chief players dominant in the market are Essential Medical, Vivasure Medical, Cardinal Health, Abbott Laboratories, Vascular Solutions, and St. Jude Medical, among others.

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