The size of the Latin American Vascular Closure Devices Market was worth USD 84.42 Million in 2022 and is estimated to be growing at a CAGR of 7%, to reach USD 118.41 Million by 2027.
Many diagnostic and therapeutic procedures regarding the cardiovascular system are conducted using the femoral artery as the access point. Manual compression was commonly used to close the femoral artery after the procedure. It became a sophisticated procedure using anticoagulants and waiting time for blood clotting.
Vascular closure devices were introduced as an alternative to this problem. For valve replacement procedures that require a large incision on the femoral artery, VCDs are the best option as they do not require surgical assistance afterward. In addition, it reduces the discharge time and can be shifted into the ambulance if needed.
The demand for vascular closure devices is increasing due to increased awareness and comfort levels for physicians and patients. In addition, developments made to the existing devices, technological advancements, and an increase in cardiovascular diseases are expected to drive the market. However, increasing access point complications and risks associated with the use of VCDs are restraining market growth.
This research report on the Latin American vascular closure devices market has been segmented and sub-segmented into the following categories:
By Type:
By Access:
By Procedure:
By End User:
By Country:
Geographically, the Latin American vascular closure devices market is anticipated to register a promising share in the global market during the forecast period. In Latin America, the vascular closure devices market is likely to thrive at a steady CAGR during the forecast period. This is due to the level of sophistication prevalent in healthcare facilities, the increasing prevalence of lifestyle-related diseases, government initiatives to establish innovative technologies, and awareness about various health disorders. Further, the major driving factors for this market include many vascular closure devices approvals, the high prevalence of cardiovascular (CVD) disease, the high prevalence of obesity, better healthcare infrastructure, and the growing demand for major market players the vascular closure devices.
Brazil accounted for the majority of the share in the Latin American regional market, and it is more likely to continue to grow its growth during the forecast period. The market growth is attributed to the increasing prevalence of cardiovascular disease, availability of advanced healthcare infrastructure, the growing trend towards day surgery for vascular procedures, and the growing body of research and clinical trials for vascular closure devices.
On the other hand, Argentina and Mexico are projected to showcase a considerable share in the market during the forecast period. The growing demand for diagnostic services, Supportive government policies, improving healthcare sector, Increased spending on health infrastructure, and disposable income of the individuals in these countries are expected to propel the market growth.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the Latin American 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.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Passive Approximators
5.1.2.1 Collagen Plugs
5.1.2.2 Sealant or Gel based Devices
5.1.2.3 Compression Assist Devices
5.1.3 Active Approximators
5.1.3.1 Suture-Based Devices
5.1.3.2 Clip-Based Devices
5.1.4 External Hemostatic Devices
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Access
5.2.1 Introduction
5.2.2 Femoral Access
5.2.3 Radial Access
5.2.4 Y-o-Y Growth Analysis, By Access
5.2.5 Market Attractiveness Analysis, By Access
5.2.6 Market Share Analysis, By Access
5.3 Procedure
5.3.1 Introduction
5.3.2 Interventional Cardiology
5.3.3 Interventional Radiology/Vascular Surgery
5.3.4 Y-o-Y Growth Analysis, By Procedure
5.3.5 Market Attractiveness Analysis, By Procedure
5.3.6 Market Share Analysis, By Procedure
5.4 End User
5.4.1 Introduction
5.4.2 Acute Care Facilities
5.4.3 Hospitals
5.4.4 Clinics
5.4.5 Y-o-Y Growth Analysis, By End User
5.4.5 Market Attractiveness Analysis, By End User
5.4.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 Type
6.1.3.3 By Access
6.1.3.4 By Procedure
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Access
6.1.4.4 By Procedure
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Access
6.1.5.4 By Procedure
6.1.5.5 By End User
6.2 Brazil
6.3 Mexico
6.4 Rest of Latin America
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Merit Medical Systems, Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Biotronik GMBH & CO.KG
8.3 Abbott Vascular
8.4 Cardinal Health
8.5 Medtronic
8.6 Boston Scientific Corporation
8.7 Cardival Medical, Inc.
8.8 Essential Medical, Inc.
8.9 W L. Gore & Associates
8.10 Scion BioMedical
8.11 St. Jude Medical
8.12 TZ Medical, Inc.
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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