VASCULAR CLOSURE DEVICE MARKET ANALYSIS

Vascular Closure Device MarketSize and Trends

The global vascular closure device market size is expected to reach US$ 1,943.2 Mn by 2030, from US$ 1,283.8 Mn in 2023, at a CAGR of 6.1% during the forecast period.

Global Vascular Closure Device Market Drivers:

• Rising geriatric population: Rising geriatric population globally is a significant factor fueling the growth of the global vascular closure devices market. As people age, they are more predisposed to a host of health issues, including an elevated risk of cardiovascular diseases (CVDs) such as coronary artery disease, peripheral vascular disease, and stroke. These conditions often necessitate diagnostic and therapeutic interventions like angiography and angioplasty, where vascular closure devices (VCDs) are crucial for post-procedure care. VCDs enable the rapid and effective closure of the arterial puncture site following catheterization procedures. For the elderly, who may face prolonged clotting times and other comorbidities, these devices are particularly beneficial as they can minimize complications related to bleeding, reduce the time to hemostasis, and subsequently reduce the length of hospital stays. Moreover, in the case of the geriatric population, minimally invasive procedures that use VCDs are desirable due to their reduced impact on the patient's body, leading to better outcomes and reduced recovery time. Given the higher susceptibility to complications among older adults, the convenience and efficiency offered by VCDs are crucial. This demographic shift presents a strong opportunity for the market's expansion, with an increasing volume of surgical interventions among this age group driving demand for VCDs. To address this growing market segment, manufacturers may focus on developing devices that are tailored to the needs of geriatric patients, ensuring safety and ease of use. Monitoring the evolving healthcare needs and preferences of this population will therefore be critical for market players looking to stay ahead in the competitive landscape of vascular closure devices. For instance, in 2020, the globally aged 60 years and older outnumbered children younger than 5 years. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. The share of the population aged 60 years and over will increase from 1 million in 2020 to 1.4 million. By 2050, the world’s population of people aged 60 years and older will double (2.1 million). The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
• The proliferation of angioplasty procedures: The proliferation of angioplasty procedures is a key driver for the global vascular closure devices market. Angioplasty, a procedure used to open clogged heart arteries, is a common treatment for ischemic heart disease, which remains one of the leading causes of morbidity and mortality The demand for these procedures is on the rise, thanks to an increasing prevalence of cardiovascular diseases fueled by lifestyle factors such as unhealthy diets, lack of physical activity, and smoking, as well as the aging population. In angioplasty, vascular closure devices (VCDs) are essential as they offer fast and secure closure of the arterial puncture site. This is crucial, as it can significantly reduce the time required for hemostasis, the time to ambulation, and the overall length of hospital stays, thereby increasing hospital throughput and efficiency, which is beneficial economically for both hospitals and patients. The benefits of VCDs in terms of patient comfort and reduced complications, such as bleeding, hematoma, and pseudoaneurysm, have also been recognized by healthcare practitioners, further supporting their adoption. In addition to these clinical benefits, VCDs also play an important role in enabling patients to recover more rapidly, which is a vital factor in patient-centered care. With advancements in interventional cardiology, angioplasty procedures are becoming more complex, often involving large-bore catheters, which necessitate the use of specialized VCDs. The development of VCDs that are compatible with such procedures is expected to create new opportunities within the market. Moreover, as healthcare systems continue to evolve, there is a push towards reducing hospital readmission rates and improving clinical outcomes. Effective vascular closure devices are seen as a vital tool in achieving these goals, thus, manufacturers are focusing on innovation to cater to the growing needs of the healthcare sector. In conclusion, the rise in angioplasty procedures is indeed propelling the vascular closure devices market, and it is anticipated that this will continue to be a prominent growth factor in the coming years.
• The increasing prevalence of in cardiovascular disease (CVD) incidence: The increasing prevalence of cardiovascular disease (CVD) incidence globally is a significant factor driving the demand for vascular closure devices. The growth in the number of patients undergoing angiographic procedures, such as angioplasty, is directly proportional to the prevalence of cardiovascular conditions like coronary artery disease, stroke, heart failure, and peripheral arterial disease. These conditions often require diagnostic and interventional procedures that necessitate puncturing of blood vessels, where vascular closure devices (VCDs) are crucial. VCDs offer several advantages in post-procedural care by providing immediate hemostasis, reducing time to ambulation, and leading to improved patient outcomes. They mitigate potential complications, such as bleeding at the puncture site, which can lead to prolonged hospital stays and increased healthcare costs. Furthermore, as patients seek shorter recovery times and reduced hospitalization, VCDs align well with these preferences, supporting less invasive procedures with quicker recovery. The demand is also supported by the rise in minimally invasive surgeries being performed, which are becoming the standard of care for many cardiovascular interventions. Providers prefer these devices over traditional manual compression as they can significantly reduce the time required for the artery to close, ultimately leading to increased patient turnover and more efficient use of healthcare resources. To meet this growing demand, manufacturers are focusing on innovation, creating devices that are easier to use, more efficient, and compatible with various vascular procedures. The development of advanced materials and techniques also promises to enhance the safety profiles of these devices. However, as a market research analyst, it’s crucial to monitor potential market restraints such as the availability of alternative wound closure methods, costs associated with VCDs, and reimbursement scenarios that vary across different regions. Considering these dynamics, it’s evident that the increasing incidence of cardiovascular diseases is a primary driver for the vascular closure devices market, as they directly influence the volume of relevant surgical procedures performed. To capitalize on this growing market, manufacturers will need to focus on innovation, addressing cost and reimbursement challenges, and aligning with the trends in healthcare towards less invasive and more patient-centered care.
• Increasing demand for minimally invasive surgeries: The increasing demand for minimally invasive surgeries (MIS) is definitely a key factor propelling the global vascular closure device market forward. As healthcare continues to advance towards techniques that emphasize patient comfort and reduce recovery time, MIS has become increasingly popular. This trend has a direct positive impact on the VCD market, as these devices are integral to many minimally invasive cardiovascular procedures. During MIS, VCDs are used to close the small puncture made in the artery, typically in the groin or wrist, through which catheters and other devices are inserted. They offer a safer and more comfortable alternative to traditional methods, such as manual compression, by promoting faster hemostasis and reducing the risk of access site complications, like bleeding or hematoma formation. This enables patients to mobilize sooner and potentially results in shorter hospital stays and less post-procedural care. In addition to improving patient outcomes, VCDs aid hospitals in increasing procedural efficiency. By reducing the time clinicians spend managing the puncture site post-procedure, these devices enable healthcare professionals to treat more patients in less time, thereby optimizing the utilization of hospital resources. The increasing prevalence of cardiovascular diseases further underscores the need for efficient and effective MIS, which in turn drives the demand for VCDs. As technology continues to evolve, manufacturers are developing a wider range of VCDs to cater to various patient anatomies and procedural requirements. Overall, the convergence of the MIS trend with the growth in cardiovascular conditions presents a robust opportunity for the expansion of the VCD market. To maximize this potential, continuous innovation and awareness of reimbursement landscapes are essential, as these factors will significantly influence the adoption rate and market growth.

Global Vascular Closure Device Market Trends:

• The utilization of bioabsorbable vascular closure devices: The utilization of bioabsorbable vascular closure devices is emerging as a significant trend and represents a promising opportunity within the market. These devices, which are designed to be absorbed by the body over time, are gaining attention for their potential to reduce the risk of infection, minimize inflammation, and improve patient comfort compared to non-absorbable counterparts. Bioabsorbable VCDs are made from materials that the body can naturally break down and resorb, eliminating the need for a secondary procedure to remove the device. This characteristic is particularly beneficial for patients as it simplifies the post-procedural care and may lead to better long-term outcomes. Moreover, since there is nothing left behind in the body, the chances of chronic foreign body reactions are significantly reduced. The development and utilization of these bioabsorbable devices are in line with the broader movement towards more biocompatible medical implants and represent the intersection of material science innovation with clinical application. As stakeholders in healthcare continue to prioritize patient safety and quality of care, bioabsorbable VCDs align well with these goals, helping to advance the standard of treatment in interventional cardiology. These companies will likely benefit from the trend towards more biocompatible and patient-friendly medical devices. For market expansion, it’s imperative to not only innovate but also to educate healthcare providers about the benefits and proper usage of these advanced devices. Moreover, regulatory clearances and favorable reimbursement scenarios will play pivotal roles in the adoption of bioabsorbable VCDs across various healthcare systems.In summary, the emergence of bioabsorbable vascular closure devices is a key trend that stands to significantly impact the market by addressing patient comfort, reducing complications, and supporting the broader shift towards more minimally invasive and patient-friendly medical treatments.
• The adoption of hybrid closure procedures: The adoption of hybrid closure procedures is indeed an emerging trend that can drive the global vascular closure device market. Hybrid closure procedures involve the use of multiple techniques or devices to achieve efficient and secure closure of the arterial puncture site after cardiovascular This can include a combination of passive and active closure approaches or integrating different types of technologies to enhance the procedure’s success rate and patient outcomes. Hybrid procedures strive to combine the benefits of various closure methods to optimize hemostasis while minimizing the risk of vascular complications, such as bleeding or arterial occlusion. They are particularly significant for complex cases where a single-method approach may not be sufficiently effective or safe. For instance, a surgeon might use a VCD in conjunction with manual pressure or a topical hemostasis pad to ensure a blood-free and secure closure. This trend is driven by a continuous effort to improve patient care and reduce the cost burden of post-operative complications. As the healthcare industry progresses, there is a greater appreciation for personalized medicine, which involves tailoring medical treatments to the individual characteristics of each patient. Hybrid closure procedures can be seen as aligning with this philosophy, offering versatility to address varying patient anatomies and conditions. Manufacturers are recognizing this trend and are likely to invest in product innovations that can cater to hybrid procedural approaches. By providing a suite of complementary products, companies can position themselves as complete solution providers rather than as vendors of a single device type. The rise of hybrid closure procedures highlights the need for ongoing research and training for clinicians to understand the nuances of various VCDs and their synergistic applications. Moreover, with this trend gaining traction, the market has the potential for increased demand, encouraging further investment in the development and improvement of associated VCD technologies. Keeping an eye on this trend will be essential for market research, as the adoption of hybrid closure procedures represents both a significant opportunity for growth and a shift towards more comprehensive, patient-specific cardiovascular care.