Vascular Closure Devices Market Size, Share & Trends Analysis | Global | 2020-2026 | MedCore | Segmented by: Indication (Coronary and Peripheral Vascular Closure Devices) & Device Type (Invasive and Non-Invasive Devices)
- Year: 2020
- Scope: 10 Years
- Region: Global
- Published Date: 07/22/2020
- Type: MedCore
The global vascular closure devices market size is expected to reach over $2 billion by 2027, with peripheral vascular devices accounting for the largest part of the market. Currently, the overwhelming majority of the global market share is occupied by Terumo, Cardinal Health, and Abbott Vascular.
Coronary Vascular Closure Device Market Insights
Coronary vascular closure devices (VCD) have a high penetration rate in angiographies, due to the short time allotted to the procedure. If no lesion is found during the screening, the patient can be promptly released from the hospital; a closure device facilitates the faster release of a patient. During interventional procedures, the patient stays in the hospital overnight, making time-consuming manual compression a more viable option.
The demand for coronary VCDs is correlated with the annual catheterization procedure volume, which is primarily driven by angiography and percutaneous coronary intervention (PCI) procedures. PCI procedure volume is expected to experience stable growth over the next 6 years. However, the depreciation of the device selling prices is projected, which will be driven by the increased bundling of interventional cardiology products and the commoditization of VCDs.
Peripheral Vascular Closure Device Market Insights
Growth in the peripheral vascular closure market will be driven by an increase in unit sales of both invasive and non-invasive VCDs. The sales of invasive VCDs will be driven by procedural volume increases, while the sales of non-invasive devices are expected to increase more quickly as smaller devices are increasingly used and radial approaches become more common.
Additionally, as more devices are catering towards large-bore holes, the small-bore procedures are further being cannibalized. High growth in total procedure volumes and increasing penetration of vascular closure devices will preserve moderate growth in the small-bore market. As competitive pressures remain present, the selling prices of vascular closure devices are expected to continue on the downward trend.
What Are The Top Vascular Closure Companies?
Globally, over 60% of the global vascular closure device (VCD) market was controlled by three key companies – Terumo, Cardinal Health, and Abbott Vascular.
Terumo, Abbott Vascular, and Cardinal Health held the strongest positions within the largest global regions, including North America and Europe. For example, Terumo held the leading position in the global coronary VCD market, due to its stronghold of both invasive and non-invasive VCD market segments. The company entered the invasive VCD market in January 2017, through the acquisition of St. Jude Medical’s coronary and peripheral vascular closure product lines.
Terumo currently offers the Angio-Seal™ and FemoSeal™ product lines, which both feature three bioabsorbable components.
Abbott Vascular, on the other hand, is the leading competitor in the global peripheral VCD market. Abbott generates the majority of its VCD revenue in the large-bore invasive VCD segment, where it held a near-monopoly. However, the company’s of the global invasive VCD market is expected to erode over the forecast period as emerging competitors launch novel devices capable of closing a large-bore puncture with a single device.
Cardinal Health holds the second-leading position in the global coronary VCD market due solely to its presence in the invasive VCD market. The company entered the global market through its acquisition of AccessClosure in 2014, effectively adding VCDs to its portfolio. Cardinal Health is also the third-leading position in the peripheral VCD market, trailing behind Abbot and Terumo. The company expanded its stake in the global market in 2015, with the acquisition of Cordis, and now offers Mynx™ and EXOSEAL™ product lines.
Top Global Vascular Closure Companies Analyzed
Market Segmentation Summary
While this global report suite contains all global vascular closure device market data, each of the market segments is also available as a stand-alone report, MedCore. This allows you to get access to only the vascular closure device market research that you need.
- Coronary Vascular Closure Device Market | Global | 2021-2027 | MedCore – The market analysis is further broken down into segments by:
- Device Type: Invasive and Non-invasive Vascular Closure Devices.
- Peripheral Vascular Closure Device Market | Global | 2020-2026 | MedCore – The chapter contains the market analysis which is categorized by:
- Device Type: Invasive and Non-invasive Vascular Closure Devices;
- Application Type:* Femoral and Radial Vascular Closure Devices.
*Research coverage might vary by global region. Request your complimentary research summary to learn more.
Global Research Scope Summary
|Regions||North America (Canada, United States)
Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela)
Western Europe (Austria, Benelux, France, Germany, Italy, Portugal, Scandinavia, Spain, Switzerland, U.K.)
Central & Eastern Europe (Baltic States, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, Turkey, Ukraine)
Middle East (Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates)
Asia Pacific (Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam)
Africa (Algeria, Egypt, Ghana, Kenya, Libya, Morocco, Nigeria, South Africa, Sudan, Uganda)
|Base Year||2020 – Coronary VCD Market
2019 – Peripheral VCD Market
|Forecast||2021-2027 – Coronary VCD Market
2020-2026 – Peripheral VCD Market
|Historical Data||2017-2020 – Coronary VCD Market
2016-2019 – Peripheral VCD Market
|Quantitative Coverage||Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.|
|Qualitative Coverage||COVID19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios, FDA Recalls, Disruptive Technologies, Disease Overviews.|
|Data Sources||Primary Interviews with Industry Leaders, Government Physician Data, Regulatory Data, Hospital Private Data, Import & Export Data, iData Research Internal Database.|
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