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How Has the Vascular Closure Devices Market Grown from 2024 to 2025?

In recent times, the market size for vascular closure devices has seen robust growth. It’s projected to expand from $1.53 billion in 2024 to $1.63 billion in 2025, experiencing a compound annual growth rate (CAGR) of 6.4%. Factors that contributed to the historical growth include the rise in minimally invasive procedures, older population demographics, patient’s inclination towards reduced recovery periods, a surge in catheterization lab procedures, and an emphasis on care outside the hospital.

What Growth Rate Is Anticipated for the Vascular Closure Devices Market in the Coming Years?

“In the coming years, a robust expansion is anticipated in the vascular closure devices market. The market is set to scale up to $2.11 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. The escalation during the forecast period can be linked to the proliferation of ambulatory surgery centers, a paradigm shift toward same-day discharge, implementation of patient-centric strategies, efforts to cut down healthcare costs, and a rising prevalence of cardiovascular diseases. The forecast period is also expected to witness major trends such as the acceptance of percutaneous coronary intervention, international cooperation in medical research, patient monitoring from afar, merger with imaging technologies, and novel technological advancements in device design.”

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Who Are the Leading Companies in the Vascular Closure Devices Market?

Major companies operating in the vascular closure devices market report are Cardinal Health Inc., Abbott Laboratories, Medtronic PLC, Koninklijke Philips NV, Boston Scientific Corporation, Terumo Corporation, C.R. Bard Inc., Cook Medical Inc., W. L. Gore & Associates Inc., Maquet Getinge Group, Teleflex Inc., BTG International Inc., Biotronik GMBH & CO.KG, Merit Medical System Inc., Vygon SA, Cardiovascular Systems Inc., Sirtex Medical Limited, Endologix LLC, TZ Medical Inc., Cardiva Medical Inc., Essential Medical Inc., KOAG LLC, Morris Innovative Inc., Vasorum Ltd., Scion BioMedical Inc., Z-Media LLC, Advanced Vascular Dynamics, Transluminal Technologies Inc., Tricol Medical Inc.

What Are the Key Drivers of the Vascular Closure Devices Market?

The vascular closure devices market’s growth is anticipated to be driven by the rising incidence of cardiovascular diseases. Cardiovascular disease (CVD), denoting health conditions affecting heart or blood vessels and impairing blood flow to the heart, is on a rise. Vascular closure devices (VCDs) serve as an alternative to traditional mechanical compression for femoral artery closure, offering quick sealing of the femoral artery access site. This could result in faster hemostasis achievement and decreased likelihood of bleeding or hemorrhaging post placement. Case in point, Immigration and Checkpoints Authority data from June 2023 reveals an upsurge in heart and hypertensive disease caused deaths in Singapore, increasing from 6,238 in 2021 to 6,884 in 2022. Consequently, the vascular closure devices market is set to be propelled by the rising cardiovascular disease incidence. The vascular closure devices market is projected to expand given the increasing obesity prevalence. Obesity is a medical condition characterized by an excess accumulation of body fat that negatively affects an individual’s health and brings about an imbalance between the calories consumed and expended. Vascular closure devices are employed for overweight and obese patients to mitigate the risk of bleeding complications and tackle issues in medical procedures involving anatomical factors and potential complications tied to excess body adipose tissue. As per the World Heart Foundation, a Switzerland-based non-government global cardiovascular community, in March 2023, around 2.3 billion adults and children are obese or overweight worldwide. Given the current trend of obesity, it is forecasted that people living with obesity will hit 2.7 billion by 2025. Hence, the escalating obesity prevalence is fueling the vascular closure devices market’s growth.

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What Are the Key Market Segments in the Vascular Closure Devices Industry?

The vascular closure devices market covered in this report is segmented –

1) By Type: Passive Approximators, Active Approximators, External Hemostatic Devices

2) By Access: Femoral Access, Radial Access

3) By End User: Acute Care Facilities, Hospitals, Clinics, Other End Users

Subsegments:

1) By Passive Approximators: Suture-Based Devices, Fibrin Sealants

2) By Active Approximators: Mechanical Devices, Expanding Devices

3) By External Hemostatic Devices: Compression Bandages, Adjustable Hemostatic Devices

What Are the Latest Trends in the Vascular Closure Devices Market?

The primary organizations in the vascular closure devices market are concentrating on the evolution of technologies like innovative collapsible disc technology to boost patient results, shorten healing times, and augment the overall efficiency and simplicity of vascular procedures. The innovative collapsible disc technology is a design that enables easy compression and expansion of a disc for effective storage and transferability. It improves convenience and versatility in different uses, such as sports equipment, outdoor equipment, or packaging solutions. For example, in June 2024, Haemonetics Corporation, a medical technology organization based in the US, introduced VASCADE MVP XL. The VASCADE MVP XL is a mid-bore vascular closure appliance. The VASCADE MVP XL consists of 58% additional collagen and an enlarged disc in comparison to its previous version, the VASCADE MVP apparatus. The intention of this design is to afford a sturdier closure solution, leading to faster recovery and better patient results.

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What Are the Key Regional Markets in the Vascular Closure Devices Industry?

North America was the largest region in the vascular closure devices market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vascular closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This Report Delivers Insight On:

1. How big is the vascular closure devices market, and how is it changing globally?

2. Who are the major companies in the vascular closure devices market, and how are they performing?

3. What are the key opportunities and risks in the vascular closure devices market right now?

4. Which products or customer segments are growing the most in the vascular closure devices market?

5. What factors are helping or slowing down the growth of the vascular closure devices market?

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