Vascular Closure Device Market, by Product Type (Passive Vascular Closure Devices, Active Vascular Closure Devices, and External Hemostatic Devices), By Access (Femoral, and Radial), By Hole Size (Small Hole, and Large Hole) By End User (Hospitals, Ambulatory Surgical Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Dec 2023

Code : CMI1330

Pages :233

Formats :

Excel and PDF

Industry : Medical Devices

Regional Analysis

Global Vascular Closure Device Market Regional Insights:

North America is expected to dominate the global vascular closure device market over the forecast period owing to the presence of major players and advanced healthcare infrastructure in the region. The U.S. accounts for the largest share of the North American market due to factors such as the high demand for minimally invasive surgeries and rapid adoption of new technologies among medical professionals. Major brands, along with continuous investments in research & development (R&D), have enabled companies to roll out innovative product lines catering to local needs and physician preferences. This has reinforced the region's position as one of the most lucrative markets globally. However, patent expirations and pricing pressures from payers are some challenges companies may face going forward.
Asia Pacific region is expected to second largest market for the global vascular closure device market during the forecast period. Increasing healthcare expenditures have boosted market opportunities. The growing awareness among patients regarding benefits of interventional procedures over open surgeries is another key factor propelling the market ahead. China dominates Asia Pacific due to its huge patient population and favorable government policies to modernize healthcare infrastructure. India is also witnessing significant market expansion backed by rising medical tourism, low manufacturing costs, and presence of global medtech leaders. While lack of skilled professionals and stringent regulatory processes still pose challenges, the future outlook for Asia Pacific appears bright.
The Europe Passive vascular closure devices sub segment currently leads the vascular closure device market in Europe. Passive devices rely on natural wound healing processes to achieve hemostasis and do not require an active activation step. This keeps the surgical procedure simple without adding complexity. As the majority of vascular access procedures in Europe are performed via the femoral route, passive devices are well-suited for femoral artery closures.