Vascular Closure Devices Market Forecast (2022-2027)
Vascular Closure Devices Market size is estimated to reach $1.4 billion by 2027, growing at a CAGR of 6.9% during the forecast period 2022-2027. Vascular closure devices are?medical devices ?utilized to accomplish hemostasis of the tiny hole in the artery subsequent to a cardiovascular procedure of endovascular surgery needing a catheterization. Angio-Seal is a medical device designated for application in closing and minimizing time to hemostasis at the femoral arterial puncture site in patients who have endured diagnostic angiography procedures or interventional procedures (minimal artery diameter of 4mm). The VasoSeal hemostatic devices (VasoSeal Elite and VasoSeal ES; Datascope, Montvale, NJ) are collagen-based vascular closure devices that use a purified collagen plug to emphasize hemostasis. To redistribute these devices, a dilator and a sheath are collectively progressed over a guidewire to the surface of the femoral artery. Vascular surgical techniques involve a count of complicated and controversial operations carried out by the most distinguished vascular surgeons from across the globe.?The surging acceptance of Vascular Closure Devices including hemostatic devices for diagnostic and therapeutic interferences that assist the progress of endovascular image-guided interferences to discover coronary heart disease is set to drive the Vascular Closure Devices Market. The capability of vascular closure devices to overpower complexities like extended bed rest and patient discomfort brought about by manual compression is set to propel the growth of the Vascular Closure Devices Market during the forecast period 2022-2027. This represents the Vascular Closure Devices Industry Outlook.
Report Coverage
The report:?“Vascular Closure Devices Market?Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the?Vascular Closure Devices Market.
By Product Type:?Active Approximators (Clip-Based Devices, Suture-Based Devices, Plug-Based Devices), Passive Approximators (Hemostatic Pads & Patches, Compression Devices).
By Mode Of Access:?Femoral Access, Redial Access.
By End User:?Hospitals, Ambulatory Surgical Centers, Others.
By Geography:?North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).
Key Takeaways
Vascular Closure Devices Market: Market Share (%) by Region, 2021
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Vascular Closure Devices Market Segment Analysis – By Product Type:
The Vascular Closure Devices Market based on product type can be further segmented into?Active Approximators and Passive Approximators.?The?Active Approximators?Segment held the largest market share?in 2021. This growth is owing to the surging application of active approximators attributed to the diminished time to ambulation. Clip-Based Devices, Suture-Based Devices, and Plug-Based Devices are categories under Active Approximators and Angio-Seal includes two hemostatic techniques namely, active approximation and thrombosis. The soaring efficiency rate in comparison with manual compression is further propelling the growth of the Active Approximators segment.
Furthermore, the Passive Approximators segment is estimated to grow with the fastest CAGR of 7.5% during the forecast period 2022-2027 owing to the surging application of compression assisted devices, which accomplish hemostasis without inserting a retained suture, clip, or plug, and passive approximators like Angio-Seal.
Vascular Closure Devices Market Segment Analysis – By?End User:
The Vascular Closure Devices Market based on end-user can be further segmented into?Hospitals, Ambulatory Surgical Centers, and Others. The?Hospitals?segment held the largest market share?in 2021. This growth is owing to the surging application of Vascular Closure Devices as a secure and cost-effective technique to accomplish accelerated hemostasis and early ambulation subsequent to angiographic techniques. Angio-Seal? vascular closure device-induced acute arterial closure has been successfully treated percutaneously with the SilverHawk? plaque excision system. The effortless accessibility of well-established infrastructure and availability of skilled physicians in hospitals are further propelling the growth of this segment.
Furthermore, the Ambulatory Surgical Centers segment is estimated to grow with the fastest CAGR of 7.8% during the forecast period 2022-2027 owing to the extensive application of Vascular Closure Devices like Angio-Seal in ambulatory care.
Vascular Closure Devices Market Segment Analysis – By Geography:
The Vascular Closure Devices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America (Vascular Closure Devices Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to?the surging assortment of opportunities drawing novel investors in the North American region.?Angio-Seal is a closure device utilized for halting the bleeding subsequent to angiography techniques like cardiac catheterization. The proliferating demand for sophisticated medical devices is further propelling the growth of the Vascular Closure Devices Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like surging development in developing economies like India and China in the Asia-Pacific region. The?existence of unfamiliar areas and unfulfilled patient requirements drawing the attention of key players and the surging application of closure devices like Angio-Seal is?further fueling the progress of the Vascular Closure Devices Market in the Asia-Pacific region.
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Vascular Closure Devices Market - Drivers
Surging Investigations Involving Vascular Closure Devices Are?Projected To Drive The Growth Of the Vascular Closure Devices Market:
Vascular closure devices (VCDs) are planned to accomplish accelerated hemostasis at the time of percutaneous coronary and peripheral vascular techniques. Investigations show that VCDs enhance time to hemostasis (TTH) and time to ambulation (TTA) when compared to standard manual compression. The investigation assessed AbsorbaSeal? (CyndRx, LLC, Brentwood, Tennessee), a clear, three-step, VCD with bio-absorbable constituents. The investigation concluded that?the AbsorbaSeal? is secure and simple to utilize for vascular closure subsequent to interventional vascular techniques with favorable results inclusive of a short TTH, minimum procedural blood loss, low postoperative pain scores, and no perioperative complexities or adverse impacts. Histologic assessment discloses accelerated device absorption and little scar formation both short- and long-term. A direct investigation of complement activation backs that AbsorbaSeal? induces a minimal inflammatory response that is considerably less than Angio-Seal. Application of?AbsorbaSeal? 5.6.7F vascular closure device in?a?good laboratory practice chronic investigation assessing safety and efficiency in a healthy porcine model have demonstrated the following results.?In the deployment of 24 AbsorbaSeal? 5.6.7F VCDs, there were nil device-associated complexities or mortalities. All deployments led to accelerated arteriotomy seal (100% deployment success), with a mean time to hemostasis (cessation of arterial flow) of 21.5 s (median: 6.5 s) across a mean activated clotting time (ACT) of 356 s. Twenty of the 24 implant sites (83%) accomplished complete hemostasis within 20 s.?These kinds of surging investigations involving Vascular Closure Devices are therefore fuelling the growth of the Vascular Closure Devices Market during the forecast period 2022-2027.
Novel Product Launches Involving Vascular Closure Devices Are Expected To Boost The Demand For Vascular Closure Devices:
Devices like Angio-Seal are currently in application.?Angio-Seal is on the market for >20 years, with approved favorable device deployment and efficiency in plentiful clinical randomized trials:
In November 2018, Cordis, a Cardinal Health firm, introduced its Mynx Control vascular closure device onto the U.S. market. A press release reported that the Mynx Control vascular control device combines active extravascular sealing and resorbability characteristics with a next-generation delivery system to augment predictability, security, and ease of application in sealing 5–7Fr femoral arterial access sites. The press release further indicates that the vascular closure device characterizes a next-generation deployment system that is planned for predictable deployment and ease of application. It will be accessible in 5Fr and 6/7Fr sizes. The novel product launches involving Vascular Closure Devices are therefore driving the growth of the Vascular Closure Devices Market during the forecast period 2022-2027.
Vascular Closure Devices Market – Challenges
Soaring Cost Of Vascular Closure Devices Are Hampering The Market Growth:
Presently, it is supposed that only 20-25% of all catheter-based procedures carried out globally use a vascular closure device (VCD) for access site hemostasis.?The boost in interventional techniques utilizing radial access, the soaring cost of vascular closure devices, and the hazards related to vascular closure devices are the principal limitations to the growth of the market. The requirement for greatly skilled professionals is challenging the growth of the market.?A massive count of catheter-based techniques is carried out without vascular closure devices owing to a dearth of operator knowledgeableness, the hazard of complexities, and cost. Most vascular closure devices are authorized for arteriotomies between 5 and 8F, with 1 device authorized for up to 21F. Principal complexities are inclusive infection and limb ischemia. These issues are thus hampering the growth of the Vascular Closure Devices Market.
Vascular Closure Devices Industry Outlook:
Product launches, mergers and acquisitions, financing in R&D, and novel market initiatives are key strategies adopted by players in the Vascular Closure Devices Market. Key companies in this market are:
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