The Vascular Closure Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Vascular Closure Devices Market is estimated to be USD 658.07 million in 2016 and predicted to rise to USD 927.3 million by 2021 with a CAGR of 7.1%. The market is segmented by Type (Passive Approximators, Active Approximators, External Hemostatic Devices), by Access (Femoral and Radial Access), by Procedure (Interventional Cardiology, Radiology/Vascular Surgery), and by End User (Acute care facilities, Hospitals and Clinics). Further the market is also geographically segmented North America, Europe, Asia-Pacific, Latin America, Middle East and Africa regions.
Increasing adoption of minimally invasive surgeries, rising number of cardiovascular diseases and rise in aging population are the major factors driving the market growth. Advanced novel materials with increase in technology, increasing awareness about the ease of use and comfort provided by VCDs also play a major role in driving the market. However, rising prices of implantable VCDs, certain risks such as groin infection associated with the use of VCDs and less adoption rate of emerging technologies in developing countries are restraining the market.
Based on type of devices, Active approximators segment is projected to hold the largest share in the VCDs market due to their high efficiency. Based on access to the artery, femoral access is projected to hold the largest market share because it is highly adopted by physicians around the globe. Based on end user, acute care facilities are the largest market segment due to the increase of emergency cases in cardiovascular diseases.
North America is the largest market segment due to the increasing cardiovascular diseases and rising number of research activities and clinical trials for VCDs. Asia-Pacific is the fastest growing market segment with a huge patient base providing huge opportunities for the market players.
Some of the major players in 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.
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