According to IMARC Group's latest research report, titled "Vascular Closure Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," presents a comprehensive analysis of the industry, covering vascular closure devices market share, statistics size, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
The global vascular closure devices market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Vascular closure devices (VCDs) represent the medical devices used to achieve hemostasis of the tiny hole in the artery after the cardiovascular procedure of endovascular surgery requiring a catheterization. Cardiovascular processes demanding catheterization include diagnostic procedures that aid in diagnosing diseased blood vessels and interventional methods, such as angioplasty, the placement of coronary thrombectomy, and a stent. During such processes, a small incision is created in the groin area, and a gap is made in the femoral artery to gain access. This void is referred to as the access or puncture site. At the completion of the procedure, the hole needs to be closed. Metal clip- and suture-based VCDs reduce the time to hemostasis compared to extrinsic (manual or mechanical) compression.
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The rising number of approvals of these instruments, the high prevalence of heart-related diseases, and the increasing cases of obesity are among the primary factors driving the vascular closure devices market. Besides this, the launch of several policies by the government bodies to reimburse interventional radiology procedures and the escalating focus on effective blood loss management in patients during surgeries are further augmenting the market growth. Moreover, the growing popularity of vascular closure devices, as they quickly stop and reduce puncture site complications, seal the opening of an artery in surgery, coronary excision, and placement of a stent is also catalyzing the global market. Apart from this, the inflating medical expenditure of individuals, the expanding healthcare sector, and the elevating construction of hospitals and surgical centers are anticipated to propel the vascular closure devices market over the forecasted period.
The report has segmented the market into the following categories:
Product Insights:
Access Insights:
Procedure Insights:
End-User Insights:
Regional Insights:
Key Highlights of the Report:
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