Vascular Closure Device Market Size, Industry
Analysis Report, Regional Outlook and Forecast,
2017 – 2024: Global Market Insights Inc.
The highest Vascular Closure Devices Market share in 2016, due to their high
competence. Recently, MANTA, an active approximator (Essential Medical), seal femoral
punctures done while performing cardiac catheterization. Many industry players
operating in this industry are focusing on active approximators for introduction of novel
technologies. Passive approximators is the fastest growing product segment as they
deliver instant and reliable hemostasis of vascular access site. Growing number of
products falling in this category, such as FastSeal, X-Seal, Angio-Seal, and Mynx, is likely
to increase revenue growth for the segment during the forecast period.
Growing geriatric population coupled with rising number of cardiovascular disease
(CVD) will drive vascular closure device market growth over the forecast period.
Cholesterol, lack of physical activity, high blood pressure, smoking and lifestyle related
changes are some of the major factors rising the CVDs. Complications associated with
vascular closure devices and need for highly trained professional will restrain market
growth.
Hospital and clinics will generate major revenue share and are likely to sustain their
dominance over the forecast timeline. Growing incidence of CVDs needs immediate
treatment that has raised the popularity of vascular closure devices in hospitals and
clinics. Moreover, availability of trained staff and organized structure to carry the
process will further accelerate the segment growth. The segment will witness
considerable growth in the coming years owing to the rising popularity of vascular
closure devices to decrease the necessity for open heart surgical procedures.
U.S. vascular closure device market size led the regional segment in 2016, owing to
increasing awareness levels amongst the affected population, increased prevalence of
cardiovascular and peripheral illness, growing geriatric population and presence of
better reimbursement policies. Moreover, increase in the number of people exposed to
alcohol consumption, smoking, substance abuse, obesity should positively reinforce the
industry growth over the forecast timeframe.
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