Vascular Closure Device Market Introduction 

Vascular closure devices (VCDs) are medical devices used to close the puncture site created in the artery after a catheterization procedure, such as angioplasty, stenting, or cardiac catheterization. These devices provide a non-invasive and efficient way of sealing the wound and preventing bleeding, which reduces the time required for post-procedural recovery and increases patient comfort. Vascular closure devices are available in various types and sizes, depending on the size of the vessel and the specific procedure. The most commonly used types of VCDs include collagen plugs, suture-based devices, and clip-based devices. The growing prevalence of cardiovascular diseases, the rising demand for minimally invasive procedures, and the increasing adoption of vascular closure devices in emerging economies are driving the growth of the vascular closure device market.

Vascular Closure Device Market Size

The global vascular closure device market was valued at $1.8 billion in 2020 and is expected to reach $2.8 billion by 2027, growing at a CAGR of 6.5% during the forecast period 2021-2027. The market growth is attributed to factors such as the increasing prevalence of cardiovascular diseases, the rising demand for minimally invasive procedures, and the growing adoption of vascular closure devices in emerging economies. Additionally, the increasing number of catheterization procedures performed worldwide and the technological advancements in vascular closure devices are also contributing to the market growth.

Vascular Closure Device Market Share

The vascular closure device market is highly competitive, with several major players operating in the market. Abbott Laboratories held the largest share of the global vascular closure device market, followed by Terumo Corporation and Cardinal Health. Other significant players in the market include Medtronic plc, Transluminal Technologies LLC, Essential Medical Inc., Vasorum Ltd., Vivasure Medical Ltd., Merit Medical Systems Inc., and others. The report also indicates that the market share of these players is expected to increase during the forecast period due to the introduction of new and innovative products and expanding their geographical reach through strategic partnerships, collaborations, and acquisitions.

Vascular Closure Device Market Trends

There are several trends in the vascular closure device market that are shaping the industry and driving market growth. Some of the key trends include:

Technological advancements: The vascular closure device market is witnessing continuous advancements in technology, resulting in the development of more effective and efficient devices. For example, the introduction of next-generation closure devices that use advanced materials, such as resorbable polymers, is gaining popularity as they provide better hemostasis and reduce the risk of complications.

Increasing demand for minimally invasive procedures: Patients and healthcare providers are increasingly opting for minimally invasive procedures over traditional open surgeries. Vascular closure devices are playing a critical role in this trend, as they reduce the time required for post-procedural recovery and increase patient comfort.

Rising prevalence of cardiovascular diseases: The growing prevalence of cardiovascular diseases, such as coronary artery disease, is driving the demand for vascular closure devices. This trend is particularly evident in emerging economies, where the incidence of cardiovascular diseases is on the rise due to changing lifestyles and dietary habits.

Growing adoption of vascular closure devices in outpatient settings: Vascular closure devices are increasingly being used in outpatient settings, such as ambulatory surgical centers and physician offices, due to their ease of use and quick recovery times. This trend is expected to continue as healthcare systems worldwide prioritize cost-effective and efficient care delivery models.

Focus on patient safety and reducing complications: As patient safety becomes an increasingly important priority for healthcare providers, there is growing demand for vascular closure devices that reduce the risk of complications, such as bleeding and infections. Manufacturers are focusing on developing devices that are not only effective but also minimize the risk of adverse events.

Vascular Closure Device Market Driving Factors

There are several factors driving the growth of the vascular closure device market. Some of the key driving factors include:

Rising prevalence of cardiovascular diseases: The growing incidence of cardiovascular diseases, such as coronary artery disease, is driving the demand for vascular closure devices. As the prevalence of these diseases continues to increase, the demand for vascular closure devices is also expected to rise.

Increasing adoption of minimally invasive procedures: The trend towards minimally invasive procedures is driving the demand for vascular closure devices. Minimally invasive procedures reduce the need for open surgery and can result in faster recovery times and reduced healthcare costs.

Technological advancements: Technological advancements in the design and functionality of vascular closure devices are driving market growth. These advancements are resulting in devices that are easier to use, more effective, and have fewer complications.

Growing demand for outpatient care: The demand for outpatient care is increasing as healthcare providers focus on reducing costs and improving patient outcomes. Vascular closure devices are well-suited for outpatient settings, where they can help reduce the time required for post-procedural recovery.

Increasing geriatric population: The aging of the population is driving the demand for vascular closure devices. As people age, they are more likely to develop cardiovascular diseases and require vascular procedures.

Favorable reimbursement policies: The availability of favorable reimbursement policies for vascular closure devices is driving market growth. Reimbursement policies can help reduce the financial burden on patients and encourage healthcare providers to adopt these devices.

Vascular Closure Device Market Regional Analysis

The vascular closure device market can be analyzed on a regional basis, with key markets including North America, Europe, Asia Pacific, and the rest of the world.

North America: The North American market for vascular closure devices is expected to remain dominant throughout the forecast period. The market growth is driven by factors such as the increasing prevalence of cardiovascular diseases, the growing adoption of minimally invasive procedures, and the availability of favorable reimbursement policies. The presence of a large number of key market players in the region is also driving market growth.

Europe: The European market for vascular closure devices is also expected to see significant growth during the forecast period. The market growth is driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for minimally invasive procedures, and the availability of advanced healthcare infrastructure. The growing aging population in the region is also expected to drive market growth.

Asia Pacific: The Asia Pacific market for vascular closure devices is expected to see significant growth during the forecast period. The market growth is driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for minimally invasive procedures, and the rising geriatric population in the region. The increasing focus on healthcare infrastructure development and the availability of cost-effective procedures are also driving market growth.

Rest of the world: The rest of the world market for vascular closure devices is expected to see moderate growth during the forecast period. The market growth is driven by factors such as the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures in emerging economies. However, the market growth may be limited by factors such as a lack of healthcare infrastructure and limited awareness of these devices in some regions.

Vascular Closure Device Market Forecasts 2030 

The global vascular closure device market is expected to grow significantly during the forecast period of 2021-2030. The market is expected to be driven by factors such as the increasing prevalence of cardiovascular diseases, the growing demand for minimally invasive procedures, and the availability of favorable reimbursement policies. The global vascular closure device market size was valued at $1.74 billion in 2020, and is projected to reach $2.88 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.The North American region is expected to hold the largest share of the global vascular closure device market, owing to factors such as the presence of a large number of key market players in the region, the increasing prevalence of cardiovascular diseases, and the availability of favorable reimbursement policies. The Asia Pacific region is expected to see the highest growth rate during the forecast period, due to factors such as the increasing geriatric population, the growing demand for minimally invasive procedures, and the increasing focus on healthcare infrastructure development.Overall, the global vascular closure device market is expected to see steady growth during the forecast period, driven by factors such as increasing prevalence of cardiovascular diseases, growing demand for minimally invasive procedures, and increasing focus on healthcare infrastructure development. However, the market growth may be limited by factors such as the high cost of devices and limited awareness of these devices in some regions.

Vascular Closure Device Market Key Industry Players

Some of the key players in the global vascular closure device market are:

Abbott Laboratories

Cardinal Health, Inc.

1. R. Bard, Inc. (Becton, Dickinson and Company)

Medtronic plc

Terumo Corporation

Teleflex Incorporated

Vivasure Medical

Vasorum Ltd.

Essential Medical, Inc.

InSeal Medical Ltd.

These companies are focused on developing new and innovative products and expanding their product portfolio to maintain their position in the market. They also invest heavily in research and development activities to stay ahead of the competition. Moreover, strategic partnerships and collaborations with other companies and healthcare providers are key strategies employed by these players to expand their reach and improve their market share.