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Vascular Closure Device Market Offer Potential in Development activities and growing cases of Cardiovascular Diseasesis

Multiple approvals and launches of innovative new devices are expected to support the growth of the global vascular closure device market. In 2016, Essential Medical, Inc. received CE Mark approval for the MANTA product, which is a perforated blood vessel closure device. In 2016, Vasorum Ltd. was approved by the U.S. Food and Drug Administration (FDA) for Celt ACD, a vascular closure device. In 2014, the US FDA approved Cardinal Health for the MynxGrip vascular closure device to close the femoral vein. In recent years, the lucrative market for vascular closure devices has seen the launch of multiple products. Therefore, growing number of product launches in the market are expected to promote the growth of the global vascular closure device market.

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Market participants focus on acquiring competitors or specific business units (the vascular closure device division) from competitors to increase their product portfolio and strengthen their position in the vascular closure device market. In January 2017, Terumo acquired some vascular closure products owned by Abbott and St. Jude Medical for a total price of US$1.12 billion. Products purchased include St Jude Medical’s AngioSeal and FemoSeal vascular closure product lines and Abbott’s Vado Steerable Sheath. The total revenue generated by these products in 2016 is estimated at US $ 268 million. Additionally, Abbott Laboratories acquired St. Jude Medical, Inc. in January 2017 to strengthen its position in the cardiovascular device (including the global vascular closure device market). In 2014, Cardinal Health Inc. acquired AccessClosure Inc. for US$ 320 million in cash to expand the product portfolio of vascular closure devices. In 2017, Teleflex Incorporated acquired Vascular Solutions, Inc. This strategic acquisition expands Teleflex Incorporated’s vascular closure device product portfolio.

Increasing demand for diagnostic angiography procedures due to increasing prevalence of Coronary heart disease (CHD) is expected to increase demand for vascular closure device in near future. For instance according to the research published in Centers for Disease Control and Prevention (CDC) in 2017, Coronary heart disease (CHD) is one common type of heart disease, which causes about 370,000 deaths in U.S. annually. Furthermore the launch of innovative vascular closure devices in market is also expected create lucrative environment for market growth. For instance in 2014, AccessClosure Inc. launched Mynx Ace vascular closure device at annual scientific session of the American College of Cardiology in Washington, DC. Furthermore, in 2017, Vasorum Ltd. launched Celt ACD second generation vascular closure device in the U.S. market.

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Detailed Segmentation:

By Product Type:

    • Passive Vascular Closure Devices
      • Plug-Based Devices
      • Sealant or Gel-Based Devices
      • Compression Assist Devices
    • Active Vascular Closure Devices
      • Clip-Based Devices
      • Suture-Based Devices
    • External Hemostatic Devices

By Access:

    • Femoral
    • Radial

By Hole Size:

    • Small Hole
    • Large Hole

By End User:

    • Hospital
    • Ambulatory Surgical Centers
    • Others

Key Takeaways

During the forecast period (2017-2025), the global vascular closure device market is expected to show a CAGR of 6.1% due to frequent regulatory approvals of innovative products in key regions. North America is expected to continue to dominate during the forecast period.

In the forecast period (2017-2025), due to the introduction of new vascular closure devices by major players in the region.

In recent years, the market has witnessed the launch of a variety of products, and as leading companies continue to engage in research and development to develop technology-efficient products, this trend is expected to continue during the forecast period. Mergers/acquisitions (M&A) and cooperation have always been paramount. The focus of attention is on the leading companies in this field. Increased competition in this market may lead to a further increase in these activities (mergers and acquisitions and cooperation).

Key companies contributing in the global vascular closure device market are Cardiva Medical, Inc., Cardinal Health, Inc., Transluminal Technologies LLC, Medtronic Plc., Vasorum Ltd., Abbott Laboratories, Morris Innovative Inc., Vivasure Medical Ltd., Vascular Closure Systems, Inc., Essential Medical, Inc., and Terumo Corporation.

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Table of Content

Global Vascular Closure Device Market Research Report

Section 1: Global Vascular Closure Device Industry Overview

Section 2: Global Economic Impact on Vascular Closure Device Industry

Section 3: Global Market Competition by Industry Producers

Section 4: Global Productions, Revenue (Value), according to Regions

Section 5: Global Supplies (Production), Consumption, Export, Import, geographically

Section 6: Global Productions, Revenue (Value), Price Trend, Product Type

Section 7: Global Market Analysis, on the basis of Application

Section 8: Vascular Closure Device Market Pricing Analysis

Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers

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Editor Details

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Last Updated: 13-Sep-2021