About the Vascular Closure Devices Market
The global vascular closure devices market is likely to grow at a steady pace during the forecast period. This is because many clinical studies regarding vascular closure devices raised concerns about their safety and efficacy profiles. In many clinical cases, manual compressions were used as vascular closure devices that failed to show their efficacy. Vascular closure devices are used for both diagnostic and therapeutic interventions.Concerns regarding these devices have led vendors to invest extensively in their R&D. These devices help in the diagnosis and treatment of cardiac diseases. A rise in the incidence of these diseases will lead to the demand and sales of vascular closure devices. The sales will further increase with the rapid adoption of minimally invasive equipment for cardiac surgeries. Minimally invasive surgeries such as angiography cause less pain, minimize infections, and help reduce hospital stay.
Technavio’s analysts forecast the global vascular closure devices market to grow at a CAGR of 8.67% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global vascular closure devices market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the sales of vascular closure devices used for arteriotomy site closure after cardiac catheterization. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vascular Closure Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global vascular closure devices market: Abbott Laboratories, Cardinal Health, St. Jude Medical, and Vascular Solutions.
Other Prominent Vendors in the market are: Arstasis, Beijing Puyishengji Medical Technology, Endocor, Essential Medical, InSeal Medical, Medeon Biodesign, Morrris Innovative, Transluminal Technologies, Vascular Closure Systems, Vasorum, and Vivasure Medical.
Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the popularity of robot-assisted catheterization for percutaneous coronary intervention (PCI). Physicians are using robot-assisted catheterization technology to improve the performance of minimally invasive and less invasive procedures. The technology helps enhance vascular puncture and improve patient care. Robot-assisted procedures can reduce hospital stays and facilitate cost management. Moreover, the rising awareness of these benefits of robot-assisted catheterization among people and physicians has led many hospitals and clinics to install them.”
According to the report, a key growth driver in the market is the growing use of minimally invasive surgeries along with MRI technology. Medical facilities worldwide are shifting toward minimally invasive procedure that involve the use of radiotherapy and imaging technologies, expanding the treatment options for peripheral vascular diseases (PVD) such as deep vein thrombosis. Physicians use angioplasty or insert stents in the blood vessels through small incisions by minimally invasive surgeries. These procedures help minimize trauma and pain and reduces the risks of infection in the blood vessels.
Further, the report states that a major factor that could hamper market growth is the several complications associated with vascular closure devices. Vascular closure devices after coronary angioplasty helps in early hemostasis and improved ambulation. However, arterial puncture involved with vascular closure devices can cause some complications. The intravascular component of these devices can also cause thrombosis, which can lead to limb ischemia. The insertion of vascular closure devices through femoral arterial cardiac catheterization can cause retroperitoneal hemorrhage.
Abbott Laboratories, Cardinal Health, St. Jude Medical, Vascular Solutions, Arstasis, Beijing Puyishengji Medical Technology, Endocor, Essential Medical, InSeal Medical, Medeon Biodesign, Morrris Innovative, Transluminal Technologies, Vascular Closure Systems, Vasorum, Vivasure Medical.