Arteriotomy Closure Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Arteriotomy Closure Devices market is segmented by Products, Application (Femoral arterial access and Radial arterial access), End User, and Geography

Market Snapshot

arteriotomy closure devices market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.6 %

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Market Overview

The major factors attributing to the growth of the arteriotomy closure devices market are increasing incidences of vascular disorders and rising geriatric population. The global increase in the incidence of vascular diseases is due to a sedentary lifestyle, unhealthy diet, and smoking. Cardiovascular diseases include coronary heart disease, stroke, high blood pressure, arterydiseases,etc. According to the American Heart Association, in 2017, around 43% of the deaths occurs due to coronary heart disease in the United States. Manual compression has been considered the traditional technique to achieve closure of the arterial access site. Patient comfort and satisfaction are the important factors that result in wide adoption of arteriotomy closure devices.

Scope of the Report

Arteriotomy Closure Devices (ACD) are widely used by surgeons to perform both diagnostic and interventional procedures. ACD are of two types: Active closure devices (Collagen plugs, Suture devices and clips) and Passive closure devices (compression devices and hemostasis pads). These closure devices are used to achieve hemostasis, improve patient outcome, and decrease vascular complications and hospitalization rate. Arterial access is usually obtained at the common femoral or radial artery.

By Products
Active Closure Devices
Passive Closure Devices
By Application
Femoral Arterial Access Procedures
Radial Arterial Access Procedures
By End User
Hospitals
Ambulatory Care Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Femoral Arterial Access is Highly Preferred in the Application Segment

The vast majority of procedures are performed with Femoral arterial access. However, increased interest has been observed for the radial approach due to the significant reduction in bleeding complications.

Vascular complications increase depending on the severity of the procedure. In order to reduce these complications, ACDs have been developed as an alternative to manual compression. The use of Arteriotomy Closure Devices is recommended to patients undergoing acute myocardial infarction, neurovascular interventions and endovascular procedures for peripheral vascular diseases. With the increasing incidence of vascular disorders as well as the development of innovative products, the growth of the market is expected to be augmented.

ACD Market Trend.png

North America Dominates the Market and Expected to do same in the Forecast Period

North America will witness the highest growth throughout the forecast period. This is due to the increasing prevalence of lifestyle disease, rising aging population and growing demand for newly introduced devices and innovative technologies. According to American College of Cardiology's National Cardiovascular Data Registry (ACC-NCDR, 2018), less than 2% of invasive cardiovascular procedures are performed from the radial site, which indicates that the common femoral artery remains the most common arterial access site in the United States. In the North America region, the United States holds the largest market share.

Arteriotomy Closure Devices Market - Growth Rate by Region

Competitive Landscape

The Arteriotomy Closure Devices market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Some of the major players of the market are Abbott Laboratories, Terumo Corporation, Cardinal Health, Cardiva Medical, Merit Medical, and Medtronic PLC, Teleflex, Vasorum Ltd, Vivasure Medical and Marine Polymer Technologies Inc. are among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Incidences of Vascular Disorders

      2. 4.2.2 Rising Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of the Device

      2. 4.3.2 Risk Associated With the Procedure

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Products

      1. 5.1.1 Active Closure Devices

      2. 5.1.2 Passive Closure Devices

    2. 5.2 By Application

      1. 5.2.1 Femoral Arterial Access Procedures

      2. 5.2.2 Radial Arterial Access Procedures

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Care Centers

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Cardinal Health

      3. 6.1.3 Cardiva Medical

      4. 6.1.4 Marine Polymer Technologies Inc

      5. 6.1.5 Medtronic PLC

      6. 6.1.6 Merit Medical

      7. 6.1.7 Teleflex Incorporated

      8. 6.1.8 Terumo Corporation

      9. 6.1.9 Vasorum Ltd

      10. 6.1.10 Vivasure Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Arteriotomy Closure Devices Market market is studied from 2018 - 2026.

The Arteriotomy Closure Devices Market is growing at a CAGR of 6.6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, Terumo Corporation, Cardinal Health, Cardiva Medical, Merit Medical are the major companies operating in Arteriotomy Closure Devices Market.

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