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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 be growing at a CAGR of 6.5% to reach USD 4.57 Billion by 2027. In general, vascular closure devices are a metallic clip or 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 comfort of the patients 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 this region. In addition, the growing trend of one-day surgeries for vascular diseases and the increasing aging population is also responsible for driving the market.

Various risks associated with VCDs, like leg ischemia and high costs of vascular closure devices, are the major factors hindering 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, there have been many developments, 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.

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