Growth Opportunities and Trends in the Vascular Closure Devices Market: Key Insights for 2025-2034
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What is the Forecasted Expansion Rate of the Vascular Closure Devices Market Over the 2025–2034 Period?
The market for vascular closure devices has been experiencing robust growth in recent times. The industry, currently valued at $1.53 billion in 2024, is projected to increase to $1.63 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%. Factors contributing to this upward trend in the historic period include an increase in minimally invasive procedures, shift in population demographics towards the elderly, a preference among patients for reduced recovery durations, a surge in catheterization lab processes, and a heightened focus on outpatient healthcare services.
The market size for vascular closure devices is predicted to experience significant expansion in the upcoming years, with projections suggesting it will reach $2.11 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.7%. This anticipated growth during the forecast period is largely due to factors such as the increase in ambulatory surgery centers, a shift towards same-day patient discharge, patient-centric methodologies, efforts to contain healthcare costs, and the rising incidence of cardiovascular diseases. Key trends expected throughout the forecast period include the integration of percutaneous coronary intervention, worldwide cooperation in medical research, remote patient surveillance, incorporation with imaging technologies, along with technological advancements in device design.
Which Drivers Are Expected to Have the Greatest Impact on the Vascular Closure Devices Market’s Growth?
The vascular closure devices market is anticipated to grow due to the rising instances of cardiovascular diseases. Cardiovascular diseases, or CVDs, are conditions that affect the functionality or structures of the heart or blood vessels, thus impacting the flow of blood to the heart. Vascular closure devices, or VCDs, serve as an alternative to conventional mechanical compression for closing the femoral artery. They facilitate rapid sealing of the site of the femoral artery access site, which could potentially reduce the risk of bleeding or hemorrhage after placement and achieve faster hemostasis. For instance, the Immigration and Checkpoints Authority, a law enforcement agency based in Singapore, reported in June 2023 that deaths due to heart and hypertensive diseases in Singapore rose to 6,884 in 2022 from 6,238 in 2021. Hence, the rising prevalence of cardiovascular diseases is expected to boost the growth of the vascular closure devices market.
Vascular Closure Devices Market Driver: Rising Obesity Rates Expected To Fuel The Vascular Closure Devices Market Growth
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Who Are the Top Companies Driving Innovation and Growth in the Vascular Closure Devices Market?
Major companies operating in the vascular closure devices market report are:
• Cardinal Health Inc._x000D_
• Abbott Laboratories_x000D_
• Medtronic PLC_x000D_
• Koninklijke Philips NV_x000D_
• Boston Scientific Corporation_x000D_
How Are Technological Trends Affecting the Growth and Development of the Vascular Closure Devices Market?
Key players in the vascular closure devices market are concentrating on the development of technologies like innovative collapsible disc technology. This technology is designed to improve patient results, decrease recovery times, and increase the overall efficiency and convenience of vascular procedures. The innovative collapsible disc technology is designed to allow a disc to be expanded and collapsed with ease, making it ideal for storage and portability. It can be utilized in a variety of scenarios, including sporting equipment, outdoor gear, or packaging solutions. For example, Haemonetics Corporation, a US-based medical tech company, introduced VASCADE MVP XL in June 2024. It’s a mid-bore vascular closure device with 58% more collagen and a larger disc than its predecessor, the VASCADE MVP system. The design is intended to provide a stronger closure solution, enabling faster recovery and better patient outcomes.
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How Are the Key Segments of the Vascular Closure Devices Market Impacting Its Expansion and Revenue Streams?
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
Which Regions Are Leading the Charge in Vascular Closure Devices Market Development?
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
How Is the Vascular Closure Devices Market Defined Across Different Regions?
A vascular closure device is a medical device that seals the entry point in an artery after a catheterization procedure. These devices are designed to accelerate the natural healing process and minimize the risk of bleeding, hematoma formation, or other complications at the access site.
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