The Asia-Pacific vascular closure devices market was worth USD 2.14 billion in 2023. This value is further anticipated to grow at a CAGR of 9.5% from 2023 to 2028 and be worth USD 3.37 bn by 2028.
A small puncture is made to the femoral artery to conduct some diagnostics like an angiogram. This puncture is sealed immediately to stop the blood flow using a metallic clip or collagen. These devices are called vascular closure devices. Vascular closure devices are preferred over manual compression due to the reduction in time and human effort required to conduct MC. In addition, VCDs increase the comfort levels for the patients and result in early discharge time. Recent developments introduced materials for VCDs that dissolve after a certain period.
Rising preference for minimally invasive surgeries and developing medical imaging are the significant factors propelling the vascular closure devices market. In addition, increasing the adoption of radiotherapy, which requires medical imaging, and the ease of use and reduced access site complications drive the VCDs market.
Increasing costs of invasive VCDs and less adoption of technologies in developing countries are hindering the growth of the APAC vascular closure devices market.
This research report on the APAC vascular closure devices market has been segmented and sub-segmented into the following categories:
By End User:
The Asia Pacific VCDs market is rapidly growing due to the increase in expenditure on healthcare in countries like China and India, a huge patient base, and increasing cardiovascular diseases. In addition, the increasing popularity of femoral artery cardiac catheterization and the significant accomplishment rate of VCDs for improved patient comfort are the key driving factors for the APAC vascular closure device market. However, the high price of products, problems associated with VCD, and lower acquisition rates of novel technologies hamper the APAC vascular closure device market.
In 2020, the Chinese vascular closure devices market dominated the Asia Pacific market due to the increasing prevalence of cardiovascular disease in this region. In China, cardiovascular deaths are higher than the death rate due to cancer or other diseases. The total number of CVD patients in China in 2017 was 290 million.
The Japanese vascular closure devices market is projected to be the fastest-growing region for the APAC market. It is due to the technological advancements resulting in the development of cost-effective vascular closure devices leading to a significant obtaining rate for the devices in this region. In addition, the increasing compliances for vascular closure devices, supportive government authority, increasing demand for advanced treatment, rising research and clinical trials for vascular closure devices, and growing market players offering innovative products are anticipated to drive the growth of the Vascular Closure Device market.
KEY MARKET PLAYERS:
A few notable companies operating in the APAC Vascular Closure Devices Market profiled in this report are Biotronik GMBH & CO.KG, Abbott Vascular, Cardinal Health, Merit Medical Systems, Inc., Medtronic, Cardival Medical, Inc., Boston Scientific Corporation, Essential Medical, Inc., W L. Gore & Associates; St. Jude Medical, TZ Medical, Inc., and Scion BioMedical.
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