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.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/vascular-closure-devices
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
o
Suture-based Devices
o
Clip-based Devices
·
Passive Approximators
o
Collagen Plugs
o
Sealant- or Gel-based Devices
o
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
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
o
Argentina
o
Chile
o
Colombia
o
Peru
o
Venezuela
o
Ecuador
o
Panama
o
Costa Rica
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-vascular-closure-device-vcd-market
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company provides syndicated research reports, customized research reports, and
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company offers market intelligence studies ensuring relevant and fact-based
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