Global Vascular Closure Devices Market 2016-2020

Outlook of the vascular closure devices market

Vascular closure devices are used for diagnostic and therapeutic interventions and help in endovascular imaging to detect coronary artery diseases. The rising preference for minimally invasive procedures with improved medical imaging is a major factor spurring the growth this market. At present, many medical facilities have started opting for procedures that involve the use of radiotherapy and imaging technologies. This shift towards imaging technologies helps healthcare facilities to expand their treatment options for peripheral vascular diseases (PVD). If left untreated, PVD can cause heart attacks and stroke and may even lead to death. Consequently, to treat this condition, physicians have started performing angioplasty or insert stents in the blood vessels through small incisions by minimally invasive surgeries. Due to the widespread applicability of vascular closure devices, Technavio’s market research analysts have predicted that this market will grow at a steady CAGR of nearly 9% during the forecast period.

The global vascular closure devices market is dominated by the Americas, which accounted for approximately 45% of the total market share in 2015. The US was the key revenue generator for the market in this region. An increasing number of angiography procedures, patient's preference to visit cath-labs, and rising adoption of vascular closure devices for minimally invasive procedures are the key elements that contributed to the growth of this market. Additionally, factors such as recent advances in technology, in terms of product design and usage, and the availability of reimbursements for catheterization have also bolstered the prospects for market growth in the US.

Product segmentation and analysis of the vascular closure devices market

• Active approximators
• Passive approximators

The active approximators segment accounts for the largest share of the vascular closure devices market and will retain its leadership position by accounting for around 79% of the total market share by the end of 2020. Active approximators are designed to close the arteriotomy site by using sutures, collagen plugs, and nitinol clips. The development of devices that can be used to close femoral sites like the 8F to 21F femoral site will lead to the steady growth of this market segment during the next four years.

Segmentation by end user and analysis of the vascular closure devices market

• ASCs
• Hospitals
• Physician offices

According to this market report, the ASC segment accounted for an impressive market share of around 50% during 2015. ASCs provide a wide range of medical services and conduct surgical and non-surgical procedures through outpatient settings. The availability of progressive operating equipment, specialist physicians, and operating and recovery rooms without complex administrative procedures will lead to the rapid growth of this market segment.

Competitive landscape and key vendors

Competition in the global vascular closure devices market is intense with the presence of many global and local players. The level of competition will strengthen during the forecast period due to the entry of several new vendors in the market. Therefore, to survive and succeed in this competitive market, the smaller vendors are developing innovative and cost-effective products to penetrate the emerging countries.

• Abbott Laboratories
• Cardinal Health
• St. Jude Medical
• Vascular Solutions

The other prominent vendors in the market are Arstasis, Beijing Puyishengji Medical Technology, Endocor, Essential Medical, InSeal Medical, Medeon Biodesign, Morrris Innovative, Transluminal Technologies, Vascular Closure Systems, Vasorum, and Vivasure Medical.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global vascular closure devices market?
• What are the key market trends impacting the growth of the global vascular closure devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global vascular closure devices market?
• What are the market opportunities and threats faced by the vendors in the global vascular closure devices market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global vascular closure devices market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Peripheral Vascular Devices Market 2015-2019
• Global Vascular Stents Market 2016-2020
• Global Non-Vascular Stents Market 2016-2020
• Global Cardiac Prosthetic Devices Market 2015-2019
• Global Clot Management Devices Market 2015-2019
• Global Thoracic Surgery Market 2016-2020