Vascular Closure Devices Market

Global Vascular Closure Devices Market Size (2024 to 2032)

As per our report, the global vascular closure devices market size was worth USD 865.7 Million in 2023. The global market is further expected to grow at a CAGR of 7.1% from 2024 to 2032 and be worth USD 1604.98 Million by 2032 from USD 927.16 Million in 2024.

A vascular closure device is generally a tiny piece of collagen which is a fibrous protein in skin and bones, or a suture or a metal clip helps immediately seal off the artery's puncture after angiography to prevent bleeding since it becomes a necessity to remove the plastic sheath which even provides access to the femoral artery. It can usually be achieved by manual compression with the doctor's fingers placed directly over the hole. During specific medical investigations, the femoral artery is punctured to access the highway to perform diagnostic tests such as angiograms and place stents. Then, vascular closure devices stop the blood flow in the damaged area. Before developing vascular closure devices, manual compression was used to stop the artery's blood flow, which is a painful and time-consuming process. Vascular closure devices reduce the discomfort of patients and human effort. In addition, recent advancements introduced materials that dissolve after some time, unlike sutures or collagen plugs.

MARKET DRIVERS

The growing patient count suffering from cardiovascular diseases, rising incidence of obesity, and substantial regular product approvals are driving the vascular closure devices market.

According to the World Health Organization (WHO), cardiovascular diseases are the leading causes of death, recording over 17 million deaths yearly. By 2030, the number is forecasted to reach approximately 23.6 million. Furthermore, the rising adoption of sedentary lifestyle changes and growing unhealthy habits such as smoking, alcohol consumption, and irregular diet are expected to increase the need for vascular closure devices soon. In addition, the YOY demand for advanced therapies, government initiatives, a growing number of approvals, and increasing research and clinical trials are propelling the vascular closure devices market.

The increasing number of device approvals, a growing wide range of cardiac processes, and prominence for minimally invasive surgeries further promote the vascular closure devices market.

The accelerating need for angiography due to the rise in chronic cardiac diseases is a big plus to the market. Furthermore, the growing support and initiatives from the governments, the increasing need for advanced treatment, and spurring research and clinical trials are further predicted to support the vascular closure devices market growth. As per the data published by the Centres for Disease Control (CDC) in 2017, coronary heart disease-causing 370,000 deaths in the United States every year.

Vascular closure devices (VCDs) have arisen to be an effective alternative for femoral artery closure over traditional mechanical compression, especially for those patients undergoing femoral catheterization. They not only have the potential to reduce hemostasis time, narrow the femoral artery, and improve patient satisfaction but also facilitate early patient mobilization, reduce complications, and reduce patient discomfort associated with prolonged bed rest, resulting in reduced length of hospital stay.

Other benefits offered by vascular closure devices are a passive approach for closure of the access site without direct contact with the arterial wall, increased patient comfort, temporary hemostasis and walking times, reduced post-operative care, use of sutures, nitinol clips, collagen and polymer plugs for physical closure of the access site along with the use of compression devices and active approximations are some of the significant factors which are anticipated to drive the market growth. In addition, the high effectiveness of vascular closure devices is projected to boost the growth of the vascular closure devices market. Moreover, factors such as the growing incidence of obesity and the high occurrence of cardiovascular diseases are expected to drive the global vascular closure devices market.

MARKET RESTRAINTS

Even though vascular closure devices offer so many benefits, a few complications are faced by the patients after their use, including hematoma formation, repeated bleeding, arterial dissection retroperitoneal bleeding, and even severe disorders like pseudoaneurysm after collagen plug insertion, which may even lead to higher infection rates. On the other side, the low quality and failures in the devices and a deficit of devices are the problems leading to product recalls, one of the leading causes hindering the market growth. In addition, some factors, such as product replacements, and the companies creating a negative impression, hampers the development of these products.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Vascular Closure Devices Market Analysis By Type of Devices

The passive approximators segment accounted for the most significant share of the global market in 2023 and is expected to grow at a CAGR of 8.1% from 2024 to 2032.

The active approximators segment held a substantial share of the global market in 2023 owing to their high efficiency. The active approximators lead the product type segment due to their high-efficiency rate, it takes less time for ambulation than labor-intensive compression, and the target of many companies to launch new products under this segment. In addition, these devices close the arteriotomy site physically through a suture, while passive approximators gel to the arteriotomy site without actually closing the arteriotomy physically.

The external hemostatic devices segment is anticipated to register a healthy CAGR during the forecast period owing to their facilitation of hemostasis of arteriotomy access site punctures, which might be done in three different ways; compression devices, vascular closure devices (VCDs), and bandages which are coated with agents to accelerate the coagulation cascade. Moreover, using a compass, a vascular multi-use sterile external manual compression assist device further facilitates the practice of manual compression and better clinical outcomes.

Global Vascular Closure Devices Market Analysis By Access

The femoral access segment accounted for the leading market share in 2023, as physicians mainly adopt it worldwide. It is commonly used for coronary intervention and access sites for angiography and is mainly preferred over radial in procedures requiring a larger sheath size. These devices can be passive, aiding in mechanical compression, or active, including collagen plugs, suture devices, and clips. Furthermore, the femoral access segment is projected to account for the highest percentage of the market due to many physicians and cardiologists selecting femoral access in interventional procedures. Therefore, the market will likely observe substantial growth during the forecast period.

The radial access closure devices segment is also foreseen to dominate the market since it is used as the entry point in the radial artery at the wrist for the catheter. Patency is confirmed by observing pulse oximeter waveforms during ulnar artery occlusion after hemostasis.

Global Vascular Closure Devices Market Analysis By Procedure

The interventional cardiology segment is expected to lead the market during the forecast period due to the rapidly increasing population and high cardiovascular diseases. It is a nonsurgical subspecialty of cardiology option using a small flexible tube called a catheter to repair damaged vessels or other affected parts of the heart. Congenital heart defects, vascular disease, structural heart disease, and coronary heart disease are all diagnosed and treated using specialist catheter-based procedures.

Interventional Radiology/Vascular Surgery is expected to estimate a significant market share owing to its application in treating many conditions in the body through catheters or wires. Interventional radiology (IR) is a specialized field within radiology involving minimally invasive surgical procedures performed through small incisions in the body. Interventional radiologists diagnose and treat using X-ray, ultrasound, and computed tomography, which guides the radiologist.

Global Vascular Closure Devices Market Analysis By End-User

The acute care facilities segment led the market owing to the increased number of emergency cases of cardiovascular diseases.

On the other hand, the hospitals and clinic segments are growing the fastest due to the increasing cardiovascular patient pool and heart arrest incidents. It is a branch of secondary medical care that helps patient receives short-term treatment even while recovering from surgery. Therapeutic intervention is the most recent and least invasive method for treating diseases like stenting or percutaneous coronary intervention to reduce patient risk and enhance patient health outcomes.

REGIONAL ANALYSIS

Geographically, the North American vascular closure devices market held a good share of the global market in 2023 owing to the increasing number of cardiovascular diseases and the rising number of research activities and clinical trials for vascular closure devices. In addition, growth is ascribed to rising government initiatives in creating advanced technologies, the occurrence of lifestyle diseases, and the demand for sophisticated medical services. As a result, the U.S and Canada are contributing their share to the growth of the regional vascular closure market.

The vascular closure devices market in Europe is expected to hold the second significant share of the global market due to private and public organizations' significant initiatives.

The vascular closure devices market in Asia-Pacific is the fastest-growing market segment, with a vast patient base providing enormous opportunities for the market players. In addition, the Asia Pacific region has the fastest vascular closure devices market growth rate due to the population's unstable lifestyle and rising population. China and India are massive contributors to vascular closure devices due to the fast development of the healthcare structure and the increasing demand for treatment services in this region.

KEY MARKET PLAYERS

Some of the major players in the global VCDs market are Merit Medical Systems, Inc., Biotronik GMBH & CO.KG, Abbott Vascular, Cardinal Health, Medtronic, Boston Scientific Corporation, Cardival Medical, Inc., Essential Medical, Inc., W L. Gore & Associates; St. Jude Medical, TZ Medical, Inc., and Scion BioMedical.

RECENT HAPPENINGS IN THIS MARKET

• In September 2022, Haemonetics Corporation, for its Cascade Closure and Cascade MVP Venous Vascular Closure systems product, received CE Mark certification for the welfare of healthcare.
• In Jun 2022, Teleflex enrolled the first patient in Manta vascular closure device to demonstrate the safety of Manta's ultrasound-guided closure, in the study, without relying on depth location measurements before the procedure.
• In May 2022, Vivasure Medical, a pioneer in technology for percutaneous vessel closure, closed the first tranche of 22 million dollars, led by a strategic multinational company.
• In November 2020, Boston Scientific Corporation started the CHAMPION-AF clinical trial to estimate the WATCHMAN FLX Left Atrial Appendage Closure (LAAC) safety and efficiency. The device is exclusively for a wide range of patients with non-valvular atrial fibrillation.
• In July 2019, Medtronic India Pvt Ltd. disclosed the introduction of the VenaSeal Closure System. The system is a minimally invasive procedure using a medical adhesive to close the blocked veins in patients with the chronic venous disease (CVD).
• In December 2018, the Vascade MVP vascular closure system of Cardival Medical received pre-market approval for its usage in electrophysiology procedures. Procedures like cardiac ablation and left atrial appendage closure to use the Vascade MVP vascular closure system.
• In November 2018, the launch of the Mynx Control vascular closure device by Cardinal Health was considered for fastening 5-7 French femoral arterial access sites. The new system launch is to decrease the time of hemostasis and ambulation.
• In April 2018, W.L. Gore and Associates won the Food and Drug Administration approval for enlarging the indication of the Gore Cardioform Septal Occluder. The device is for diminishing the threat of re-occurring ischemic stroke in patients. Patients are treated through the closure of patent foramen ovale (PFO).

DETAILED SEGMENTATION OF THE GLOBAL VASCULAR CLOSURE DEVICES MARKET INCLUDED IN THIS REPORT

This research report on the global vascular closure devices market is categorized based on the type, access, procedure, end-user, and region.

By Type of Devices

• Passive Approximators
  • Collagen Plugs
  • Sealant or Gel based Devices
  • Compression Assist Devices
• Active Approximators
  • Suture-Based Devices
  • Clip-Based Devices
• External Hemostatic Devices

By Access

• Femoral Access
• Radial Access

By Procedure

• Interventional Cardiology
• Interventional Radiology/Vascular Surgery

By End User

• Acute Care Facilities
• Hospitals
• Clinics

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa