Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Global Vascular Closure Devices Market Report by Product, Access, Procedure, End-User, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
In a significant development poised to transform the landscape of the medical device industry, recent analysis reveals the global vascular closure devices market is projected to reach a value of US$ 2.4 billion by 2032, expanding at a CAGR of 5.36% over the period of 2023-2032.
This upward trajectory is driven by a confluence of factors including the escalating prevalence of cardiovascular conditions, technological advancements, and a marked shift toward minimally invasive procedures. The evident need for efficient blood loss management during and post-surgical interventions further solidifies the market's growth potential.
Innovations across device categories, particularly in passive and active approximators, have seen considerable investment, aimed at minimizing patient discomfort and facilitating quicker recovery periods. The profound impact of these advancements has solidified their market dominance, with passive approximators leading the product segment. Further underpinning the market dynamics is the predominance of femoral access in catheterization procedures, a factor reflected in the sizeable share it has carved within the market.
Procedural Advances
As healthcare providers spearhead the charge towards intervention-driven outcomes for cardiology and radiology, procedural relevance has taken center stage. Interventional cardiology, in particular, has emerged as a critical area driving demand, with its expansive range of applications supporting market growth.
Setting the End-User Perspective
Hospitals, ambulatory surgical centers, and other healthcare facilities have been integral in implementing vascular closure devices, ensuring prompt and effective treatment for patients. Hospitals continue to be major contributors to market size, benefiting from advancements in medical infrastructure and an increasing focus on patient care efficiency.
Regional Insights
Globally, North America stands as the leading region, attributable to a combination of factors including its advanced healthcare system, an uptick in cardiovascular disease prevalence, and a forward-looking approach in medical device innovation. This dominance is anticipated to continue as market participants invest heavily in R&D activities and the region's trend of ambulatory and one-day surgical procedures persists.
Looking Towards a Dynamic Future
As the global vascular closure devices market surges forward, stakeholders can anticipate an era of intense innovation and cross-industry collaboration. The industry's growth will be further catalyzed by healthcare professionals' ongoing commitment to addressing cardiovascular diseases with the most advanced, patient-centric technologies and treatment modalities. The medical device industry is thus on the cusp of delivering unprecedented value to patients, healthcare systems, and investors alike in the realm of vascular interventions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $1.5 Billion |
| Forecasted Market Value (USD) by 2032 | $2.4 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Companies Featured
- Abbott Laboratories
- Cardiva Medical Inc. (Haemonetics Corporation)
- Cordis Corporation (Cardinal Health Inc.)
- ENDOCOR GmbH & Co. KG
- Merit Medical Systems Inc.
- Morris Innovative Inc.
- Teleflex Incorporated
- Terumo Medical Corporation (Terumo Corporation)
- Transluminal Technologies LLC
- Vasorum Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/pd435q
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