Did you know that the global vascular closure devices market was valued at $705m in 2017 and is expected to reach $1286m by 2026?
The high prevalence of cardiovascular diseases, high incidence of obesity and a rising need for minimally invasive procedures are boosting the global vascular closure devices market growth.
Introducing the global vascular closure devices market
In terms of product, the market is segmented into passive approximators and active approximators. Based on end user segment, vascular closure devices market is classified into interventional cardiology, interventional radiology & vascular surgery. Based on regions, the market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
With the high prevalence of cardiovascular diseases and the rapidly increasing heavy population, the interventional cardiology segment is expected to dominate the market.
Based on access, the femoral access segment is estimated to account for the largest share of the market owing to an increasing number of cardiologists and physicians opting for femoral access in interventional procedures, the market is expected to witness significant growth during the forecast period.
High prevalence of CVD and obesity
High prevalence of cardiovascular diseases, high incidence of obesity, the increasing healthcare expenditure and demand for new treatment options along with the rise in government support are all essentially expected to drive the growth of the vascular closure devices market.
The increasing interventional procedures using radial access, the high cost of vascular closure devices, and the risks associated with vascular closure devices are the major restraints for the market. Need for highly skilled professionals is the major challenge for the global market.
Geographically, Asia Pacific is the fastest growing market for the vascular closure devices due to the rising population and increasing standard of living. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.
Data source: Trends Market Research