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18-Jun-2019

Global Vascular Closure Devices Market – Industry Trends and Forecast to 2022

 A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. 

All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates.

The global vascular closure devices market is expected to reach USD 984.6 Million by 2022 from USD 704.8 Million in 2017, at a CAGR of 6.9%.

A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates.

View Press Release - https://www.marketsandmarkets.com/PressReleases/vascular-closure-device.asp

Geographic analysis reveals that the North American segment is expected to account for the largest share of the market in 2017, owing to the increasing prevalence of cardiovascular diseases in the U.S., growing trend of one-day surgery for vascular procedures, and the increasing number of research and clinical trials for vascular closure devices.

Vascular closure devices are relatively high-priced devices compared to manual compression devices. The average price of a vascular closure device is about USD 150–USD 250 while that of a manual compression device is about USD 15–USD 25. The cost of VCDs essentially adds up to the patient’s hospitalization bill and even increases the per patient cost for hospitals and simultaneously reduces profits.

Moreover, radial artery access makes it more convenient for doctors to achieve hemostasis using simple manual compression methods. Interventional procedures using radial artery access do not generally require vascular closure devices, which is another factor that leads to cost savings.

Key Players: 
The major players in this market include Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), Cardiva Medical Inc. (U.S.), Morris Innovative, Inc. (U.S.), Medtronic plc (Ireland), Essential Medical, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland).

Know more about key industry players - https://www.marketsandmarkets.com/ResearchInsight/vascular-closure-device-market.asp

Global Vascular Closure Devices Market – Industry Trends and Forecast to 2022

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Last Updated: 18-Jun-2019