Share on

North America Vascular Closure Devices Market Research Report - Segmented By Type, Access, Procedure, End User and Country (United States, Canada and Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 3397
Pages: 137
Formats: report pdf report excel report power bi report ppt

North America Vascular Closure Devices Market Size (2022 to 2027)

The North America Vascular Closure Devices Market size was worth USD 3.33 Billion in 2022 and is estimated to grow at a CAGR of 6.5% to reach USD 4.57 Billion by 2027.

In general, vascular closure devices are a metallic clip, a suture, or a small piece of collagen used to achieve a damaged artery's homeostasis. Then, the artery is punctured to conduct specific diagnostic procedures such as an angiogram test. Manual compression was used to restrict the blood flow from the artery before introducing vascular closure devices. It is a painful procedure and consumes a lot of time and effort. The introduction of VCDs has increased the patients' comfort after the diagnostic procedure. With the advancement of technology, materials like polyethylene glycol are used in making VCDs, which do not have any side effects.

An increase in research and clinical trials to introduce new materials for VCDs, an increase in approval of original VCDs, rising prevalence of cardiovascular devices are the major factors driving the vascular closure devices market in North America. In addition, the growing trend of one-day surgeries for vascular diseases and the increasing aging population are also responsible for driving the market.

YOY increase in the patient count suffering from cardiovascular cases in the North American region is one of the major factors propelling the vascular closure devices market in North America. Every 4 minutes, one person dies in the United States due to heart-related disease. In recent years minimally invasive surgeries have become more popular for cardiac surgery. Most of these are performed by using femoral cannulation for extracorporeal circulation. Vascular closure devices are used for patients undergoing catheterization via the femoral route. For these people, these devices help reduce time to hemostasis, provide early patient mobilization, reduce patient discomfort, reduce the bed rest time after the surgery, decrease the hospital stay, and others.

In addition, well-established healthcare infrastructure, increasing investments, and growing adoption of technological advancements to manufacture more effective VCDs are anticipated to fuel the market’s growth rate in North America. The governments of North American countries have taken several measures to approve new vascular closure devices, which are used after surgeries to reduce patient side effects. In 2021, Haemonetics Corporation launched a VASCADE MVP Venous Vascular Closure System, which is used to deliver innovative medical solutions to improve patient outcomes. Additionally, increasing research and development for manufacturing devices with advanced features also supports market growth.

An increasing number of hospitals and surgical centers is expected to promote market growth during the forecast period. An increasing rate of chronic disease and infection results in increasing surgical procedures requiring vascular closure devices after the surgery for fast wound healing. Obesity is one of the issues in many of America due to the increasing consumption of junk food, the increasing consumption of alcohol, and changing lifestyles. Obesity-related surgeries also use vascular closure devices, which drives market growth.

However, various risks associated with VCDs, like leg ischemia and high costs of vascular closure devices, are the major factors hindering the market growth. In addition, some side effects of vascular closure devices are hematoma formation, rebleeding, retroperitoneal bleeding, arterial dissection, and pseudoaneurysm, which is the main reason for the slowdown of the market growth. Furthermore, the need for more skilled professionals and the increasing availability of alternative devices hampers the market growth.

This research report on the North America Vascular Closure Devices Market has been segmented and sub-segmented into the following categories:

By Type: 

  • Passive Approximators
  • Active Approximators
  • External Haemostatic Devices

By Access: 

  • Femoral
  • Radial Access

By Procedure: 

  • Interventional Cardiology
  • Radiology/Vascular Surgery

By End User: 

  • Acute Care Facilities
  • Hospitals
  • Clinics

By Country: 

  • The U.S.
  • Canada
  • Rest of North America

Regionally, the U.S. VCDs market is accounted to have the largest market share due to the high adoption rate of advanced devices and a large population with obesity resulting in cardiovascular diseases. Over the past year, many developments have been made, including new product approvals and changes to existing closure platforms. As a result, vascular closure devices grow toward the end of the billion-dollar mark, as ever-expanding endovascular procedures activate the need for more effective closure at the end of procedures. Besides, the changing reimbursement landscape will increase the use of vascular closure devices (VCD) (as well as growing transradial interventions), with a slow pace of post-delivery interventions in the United States.

In Canada, physicians' perception and willingness to use new technology are critical to the North American success of VCDs. For example, progress in catheter-based cardiovascular therapies reports the need for ideal vascular access Hemostasis. Moving forward with technological innovations, in Canada, VCDs have considerable promise in providing patients with access to improved interventions and, therefore, a better quality of life. Most devices are associated with mandatory training programs that involve physician assessment and proctoring. Many technological innovations have encouraged VCDs to become one of the fastest-growing sectors in interventional medicine in North America.

KEY MARKET PLAYERS:

Companies playing a dominant role in the North American Vascular Closure Devices Market profiled in this report are Merit Medical Systems, Inc., Boston Scientific Corporation, Cardinal Medical, Abbott Vascular, Biotronik GMBH & CO.KG, Cardinal Health, ST. Jude Medical, Medtronic, Inc., Essential Medical, Inc., W L. Gore & Associates; TZ Medical, Inc. and Scion BioMedical.

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample