Vascular closure devices (VCD) have emerged as an effective alternative to traditional mechanical compression for femoral artery closure and is being widely used in patients undergoing catheterization via the femoral route. Vascular closure devices (VCDs) were introduced in the early 1990’s with the goal of limiting the time, labor, bed rest and patient discomfort associated with MC. These devices have the potential to reduce the time to hemostasis, facilitate early patient mobilization, reduce patient discomfort associated with prolonged bed rest, improve patient satisfaction, decrease hospital length of, and potentially reduce femoral artery complications.

While a variety of VCDs are currently available, the the three commonly used VCDs are the collagen plug-based (Angio-Seal), the suture based (Perclose), and the nitinol clip-based (StarClose) devices. Abbott has extensive vascular closure products, which include the Perclose ProGlide Suture-Mediated Closure System, StarClose SE Vascular Closure System and Prostar XL Percutaneous Vascular Surgical System. The Angio-Seal product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.

VASCULAR CLOSURE DEVICES MARKET OUTLOOK

The global vascular closure devices market is witnessing significant growth owing to Increasing demand for diagnostic angiography procedures due to swelling prevalence of Coronary heart disease (CHD). According to the research published in Centers for Disease Control and Prevention (CDC) in 2017, Coronary heart disease (CHD) is one common type of heart disease, which causes about 370,000 deaths in U.S. annually. Furthermore, the launch of innovative vascular closure devices in market is also expected create lucrative environment for market growth. Developments of advanced techniques have encouraged VCDs to be one of the fastest growing segments within the interventional medical field. Despite the prominent domination of leaders such as Terumo Corporation and Abbott Laboratories in the VCD market, emerging companies through significant entrepreneurial abilities have been able to create a niche for themselves. However, the market is hampered by product recalls and failures.

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VASCULAR CLOSURE DEVICES MARKET SEGMENTAL OVERVIEW

The report analyses the global vascular closure devices market based on type, access, procedure and geography.

VASCULAR CLOSURE DEVICES MARKET BY TYPE

Based on type, the market is categorized into passive approximators including collagen plugs, sealant- or gel-based devices and compression-assist devices; active approximators such as, suture-based devices and clip-based devices; and external haemostatic devices. In, collagen-mediated closure, the collagen forms the active component that triggers hemostasis at the arterial puncture site. This type of device calls for placement of a foreign material such as collagen into the body.

VASCULAR CLOSURE DEVICES MARKET BY ACCESS

Various Access of this market are segmented into femoral and radial. The increasing desire for radial access in the coronary procedures, is a major concern for VCDs market, as the radial artery can be closed more easily, thus opposing the need for invasive VCDs. This could also result in a swing from invasive VCDs to the low-priced manual compression device.

VASCULAR CLOSURE DEVICES MARKET BY PROCEDURE

Based on Procedure, the vascular closure devices market is categorized into interventional cardiology and interventional radiology/vascular surgery. Due to the several advantages of VCDs over the traditional mode of hemostasis, they are widely used in both diagnostic and interventional procedures. Various types of vascular closures are developed over a period that incorporate different mechanisms.

VASCULAR CLOSURE DEVICES MARKET BY GEOGRAPHY

By geography, the global vascular closure devices market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East Africa. North America accounted for the largest market share of the global vascular closure devices industry in 2018. Increasing number of obesity and rising prevalence of cardiovascular rates are likely to enhance the growth of vascular closure devices. Additionally, rising need for minimally invasive procedures, growing healthcare expenditure and rising demand for technologically advanced treatment and products along with rising government support is likely to enhance the growth of vascular closure devices market in North America. The European market is expected to grow a healthy growth during the forecast period owing to the availability of newer and advanced treatment facilities, and healthcare expenditure along with growing need for better healthcare infrastructure.

VASCULAR CLOSURE DEVICES MARKET KEY PLAYERS

The market is characterized by a diverse set of players and a wide range of capabilities. The leading vascular closure devices market players are Abbott Laboratories, Cardinal Health, Inc. (Cordis), Cardiva Medical, Inc., Essential Medical, Inc., Inseal Medical Ltd., Medtronic PLC, Merit Medical Systems, Inc., Morris Innovative, Inc., Terumo Corporation, Tricol Biomedical, Inc., TZ Medical, Inc., Vasorum Ltd. and Vivasure Medical Ltd. Consolidation is needed since companies need to enhance their value proposition to customers with Accesss, capabilities and scale, leading to opportunities abound for companies with strategic and global expansion plans. For instance, in 2016, Vivasure Medical Ltd. received CE Mark for bioabsorbable percutaneous closure device for large-bore transcatheter procedures. Also, in 2016 Essential Medical Inc. received CE Mark for X-Seal 6F vascular closure device. X-Seal 6F has also received investigational device exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to begin the US clinical trial. X-seal 6F device is the advanced vascular closure device that has novel deployment control features and provides consistent closure performance.

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