Vascular Closure Devices Market Is Projected To Witness Growth Based On Growing Popularity Of Femoral Artery Cardiac Catheterization Till 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 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.
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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
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.
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