Vascular Closure Device Market Analysis

Vascular Closure Device Market Analysis

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Based on device type, the market is classified into active vascular closure devices and passive vascular closure devices. The active vascular closure devices segment is further bifurcated into suture-mediated devices, staple clips-mediated vascular closure devices, and collagen plug-mediated devices. The passive segment is further divided into haemostasis pads/patches, and compression devices. The active vascular closure devices segment generated the highest revenue of USD 987.7 million in 2023.
 

• Active VCDs incorporate advanced technologies that enhance their performance and reliability. Innovations such as bioabsorbable materials, improved sealing mechanisms, and automated deployment systems reduce the risk of complications and ensure consistent closure of vascular access sites. These technological improvements make active VCDs more effective and safer compared to passive or manual compression methods.
   
• Moreover, it provide quicker and more reliable hemostasis, which translates to better patient outcomes. By reducing the time to achieve hemostasis, it also minimize the risk of bleeding, hematoma, and infection at the access site. This rapid closure allows for earlier patient mobilization and discharge, enhancing overall patient satisfaction and recovery.
   

Based on access, the vascular closure device market is classified into femoral, and radial. The femoral segment dominated the market in 2023 with a market share of 84%.
 

• The femoral artery is frequently used as an access site for a wide range of diagnostic and interventional cardiovascular procedures, including angiography, angioplasty, and stent placement. The high volume of these procedures necessitates the use of reliable and effective closure devices to manage the access site, driving demand for femoral in market.
   
• Furthermore, it significantly reduce the time required to achieve hemostasis compared to manual compression methods. This reduction in procedure time translates to increased procedural efficiency and lower overall healthcare costs. Shorter procedure times allow for a higher throughput of patients, benefiting both healthcare providers and patients by reducing hospital stays and associated costs.
   

Based on end-use, the vascular closure device market is segmented into hospitals, ambulatory surgical centers, and other end-users. The hospitals segment dominated the market in 2023 and is anticipated to reach USD 1.8 billion by the end of forecast period.

• Hospitals are increasingly focusing on patient satisfaction as a key performance metric. The use of VCDs contributes to higher patient satisfaction by reducing complications, minimizing recovery times, and improving overall procedural outcomes, making them a valuable tool in hospital care.
   
• Additionally, the integration of hybrid operating rooms, which combine surgical and interventional capabilities, is becoming more common in hospitals. These advanced facilities require efficient vascular closure solutions to manage access sites during complex procedures.
   

North America vascular closure device market accounted for USD 751.1 million market revenue in 2023 and is anticipated to grow at CAGR of 6.1% between 2024 – 2032 period.
 

• North America has a significant prevalence of cardiovascular diseases. These conditions necessitate a large number of diagnostic and interventional cardiovascular procedures, which often require vascular access and subsequent closure using these devices.
   
• Moreover, the region has one of the highest healthcare expenditures globally, with substantial investments in advanced medical technologies and devices. The availability of healthcare funding and insurance coverage supports the adoption of innovative medical devices in clinical practice, ensuring access for patients and healthcare providers.
   
• For instance, according to the data by Centers for Medicare and Medicaid Services (CMS.gov) shows that in 2023, the U.S. spent approximately USD 4.7 trillion on healthcare, constituting 18% of the national economy. It is projected that total healthcare expenses, including private and governmental spending, will increase from USD 4.7 trillion in 2023 to USD 7.2 trillion by 2031, with an average growth rate of 5.5% per year.
   

Germany vascular closure device market is projected to grow remarkably in the coming years.

• Germany has a well-developed healthcare infrastructure, including state-of-the-art hospitals, specialized cardiovascular centers, and research institutions. The availability of advanced imaging technologies, robotic-assisted surgeries, and hybrid operating rooms supports the integration of VCDs into clinical practice. These facilities enable healthcare providers to utilize such devices effectively, enhancing procedural outcomes and patient care.
   
• Additionally, healthcare reforms and policies in country aim to improve healthcare delivery, enhance patient outcomes, and optimize healthcare expenditures. VCDs, by offering efficient vascular closure solutions, align with these objectives by improving procedural efficiency, reducing hospital stays, and minimizing healthcare costs associated with post-procedural complications.
   

Japan holds a dominant position in the Asia Pacific vascular closure device market.
 

• Japan has one of the oldest populations globally, leading to an increased incidence of age-related cardiovascular conditions. The aging demographic drives the demand for cardiovascular procedures and interventions, wherein VCDs contribute to improved patient outcomes and management of vascular access complications in elderly patients.
   
• Furthermore, the Japanese society has a strong cultural acceptance of technological advancements in healthcare. This acceptance facilitates the adoption of advanced medical devices, as healthcare providers and patients alike value innovation that enhances treatment outcomes and patient care.