Vascular Closure Devices Market Is Anticipated To Reach $1.3 Billion By 2024: Grand View Research, Inc.
Global vascular closure devices (VCDs) market is
anticipated to reach USD 1.3 billion by 2024, according to a new report by
Grand View Research, Inc. Growing popularity of femoral artery cardiac
catheterization and high success rate of VCDs for improved patient comfort and
shortening of hemostasis time are potential factors for the projected growth of
VCDs market over the forecast period. Adoption of VCDs for diagnostic and
therapeutic interventions that facilitate endovascular image-guided
interventions to detect coronary heart disease are expected to contribute
toward the growth of this market throughout the forecast period.
Moreover, ability of VCDs to overcome complications, such as
prolonged bed rest and patient discomfort caused by manual compression, is expected
to revolutionize the market growth over the forecast period.
Browse full research report on global Vascular Closure Devices Market: http://www.grandviewresearch.com/industry-analysis/vascular-closure-device-vcd-market
Further Key Findings from the Study Suggest:
- VCDs
offer three types of products, which includes active approximators,
passive approximators, and external hemostatic devices. Out of all three,
active approximators dominated the market in 2015 as they shorten the time
to ambulation and possess high efficiency rate.
- Amongst
the different end-users of VCDs, acute care facilities accounted for the
largest share and are expected to maintain their dominant position over
the forecast period. This is attributed to the rising popularity of VCDs
in acute care treatment facilities.
- Asia
Pacific is estimated to witness the fastest growth over the forecast
period owing to the presence of unmet demands by the hospitals and rising
R&D investment in this region.
- Some
key players operating in this industry include Cardinal Health; Abbott
Laboratories; COOK; Medtronic; W L. Gore & Associates; Boston
Scientific Corporation; Biotronik GMBH & CO.KG; TZ Medical, Inc.; C.
R. Bard, Inc.; ST. JUDE MEDICAL; Cardiva Medical, Inc.; Merit Medical
Systems, Inc.; ESSENTIAL MEDICAL, INC; and Scion BioMedical.
- This
market is expected to witness lucrative growth owing to high level of
competitive rivalry, which translates to high revenue generation in this
sector. These prominent players are opting for different strategies to
boost their status in this market. Companies are involved in developing
novel VCDs and in turn broaden their product portfolios. Acquisition and
collaboration with small companies in order to enhance presence is also
expected to propel growth in this vertical.
- For
instance, in October 2015, Cardinal Health acquired Johnson &
Johnson's Cordis business. Cordis is a leader in manufacturing and
marketing of cardiology and endovascular devices. This acquisition was
intended to expand Cardinal’s VCD product catalog to reinforce its status
in the market.
- North
America dominated the market in 2015, with over 33% of total revenue. The
presence of key players in this region, which are primarily involved in
marketing and development of innovative VCDs, to facilitate cardiac
surgeries can be attributed to the largest share of North America. Demand
of products for monitoring of coronary artery disease is also expected to
drive growth.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented vascular closure devices
market on the basis of product, end use, and region:
Global Vascular Closure Devices Outlook, by Product
(Revenue, USD Million, 2013 - 2024)
- Active
Approximators
- Suture-based
Devices
- Clip-based
Devices
- Passive
Approximators
- Collagen
Plugs
- Sealant-
or Gel-based Devices
- Compression-Assist
Devices
- External
Hemostatic Devices
Global Vascular Closure Devices Outlook, by End Use
(Revenue, USD Million, 2013 - 2024)
- Acute
Care Facilities
- Hospitals
- Clinics
Global Vascular Closure Devices Regional Outlook
(Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Venezuela
- Ecuador
- Panama
- Costa
Rica
- MEA
- South
Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-vascular-closure-device-vcd-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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