Global vascular closure devices market is projected to reach USD 1.3 billion by 2026 from USD 0.9 billion in 2021, at a CAGR of 7.0% during the forecast period. Vascular closure devices are relatively high-priced devices compared to manual compression devices.
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Large number of approvals for vascular closure devices, high prevalence of cardiovascular diseases, increasing prevalence of obesity, increasing focus of market players on large-bore vascular closure devices, growing geriatric population, favorable reimbursement scenario for interventional radiology procedures, and rising focus on effective blood loss management in patients during surgeries are the major factors driving the growth of the vascular closure devices market.
The passive approximators segment is expected to grow at the highest CAGR during the forecast period and accounted for the largest share
Based on type, the vascular closure devices market is segmented into passive approximators, active approximators, and external hemostatic devices. Passive approximators account for the largest share of the vascular closure devices market.
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North America was the largest regional market for the vascular closure devices market
Vascular occlusion devices market is segmented into North America (US & Canada), Europe (E-3 and Rest of Europe), Asia Pacific, and Rest of the World. In 2020, North America dominated the global vascular occlusion device market, followed by Europe. The large share of the North American market can be attributed to the increasing prevalence of cardiovascular disease, the increasing trend of one-day surgery for vascular procedures, and the increasing and increasing trend of research and clinical trials for vascular occlusion devices in the United States. . . Cardiac arrest patients are on the rise. Heart surgery cases in Canada and long waiting times (recommended adoption of minimally invasive procedures).
The global vascular closure devices market is consolidated. The prominent players operating in this market include Terumo Corporation (Japan), Abbott (US), Cardinal Health (US), Cardiva Medical, Inc. (US), Medtronic Plc (Ireland), Morris Innovative, Inc. (US), Teleflex Incorporated (US), Merit Medical Systems, Inc. (US), Vasorum Ltd. (Ireland), TZ Medical, Inc. (US), Vivasure Medical Ltd. (Ireland), Tricol Biomedical (US), Scion Biomedical (US), Advanced Vascular Dynamics (US), Marine Polymer Technologies, Inc. (US), and Rex Medical (US).
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