Vascular Closure Device (VCD) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The vascular closure device (VCD) market is anticipated to exhibit a CAGR of 6.82 % over the forecast period (2022-2027).

During the COVID-19 pandemic, there was a reduction in the non-emergency surgical procedure, which impacted the growth of the market. According to an article titled “Trends in US Surgical Procedures and Health Care System Response to Policies Curtailing Elective Surgical Operations During the COVID-19 Pandemic” published in the journal of JAMA Network Open in December 2021, the pandemic had affected every aspect of medical care, including the surgical treatments. The article analyzed the surgical data in the United States from November 2020 through July 2021 and indicated that the initial shutdown period in March 2020 through April 2020, was associated with a decrease in surgical procedure volumes. After the restrictions were lifted, the rate of surgical procedures rebounded to 2019 levels. Such reductions in the surgical volumes hindered the growth of the market during the COVID-19 pandemic.

Factors such as an increase in catheterization-related procedures, a rise in demand for minimally invasive solutions, and ease of usage of VCDs, coupled with the growing burden of cardiovascular diseases, are driving the growth of the market. The several advantages of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time, are encouraging an increasing number of patients to opt for minimally invasive balloon angioplasty surgeries. The growing burden of cardiovascular disease and deaths due to it generates the need for devices for the treatment and hence drives the market's growth. For instance, the World Health Organization article titled 'Cardiovascular Diseases: Key Facts' updated in June 2021, reported that cardiovascular diseases (CVDs) are the leading cause of death globally.

Additionally, the market growth is also propelled by the launch of new products. For instance, in September 2021, Haemonetics Corporation received the United States Food and Drug Administration's approval for VASCADE MVP Venous Vascular Closure System. Thus, the number of approvals by the regulatory authority for the products by different market players is boosting the growth of the market. However, the high cost of products and complications associated with VCDs may hinder the growth of the market over the forecast period.

Scope of the Report

As per the scope of this report, vascular closure devices (VCDs) are medical devices used in sealing puncture of the femoral artery in patients who have undergone diagnostic angiography procedures or interventional procedures. The growing popularity of VCDs is primarily due to the fact that they are an alternative to the manual compression method, which is a time-intensive procedure, the exact procedure-time depending on the size of the plastic sheath placed in the artery. VCDs provide immediate sealing of the femoral artery access site, which is not the case with mechanical or manual compression. The market is segmented by product type (active approximators and passive approximators), mode of access (femoral access and radial access), end users (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers value in USD million for the above segments.

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Key Market Trends

Femoral Access Segment is Expected to Show Significant Growth Over the Forecast Period

Femoral vascular closure devices are powerful tools for interventional cardiologists and other proceduralists to achieve hemostasis at the catheterization entry site. The market segment growth is boosted by the research studies demonstrating the benefits of femoral vascular closure devices. For instance, an article titled “Comparison of MynxGrip vascular closure device and manual compression for closure after femoral access angiography: a randomized controlled trial: the closure devices used in everyday practice study, CLOSE-UP III trial” published in the journal of BMC Cardiovascular Disorders in February 2022 compared the safety and efficacy of two vascular closure devices available in the market. The study concluded that the occurrence of a major adverse vascular event was rare in both cases. Such benefits of the femoral access vascular closure devices promote their usage, hence driving the growth of the market segment.

Additionally, the collaboration among the market players for the marketing and commercialization of devices in different regions is driving the growth of the market segment. For Instance, in May 2022, Teleflex Incorporated, a medical technologies provider, received Health Canada approval for the MANTA Vascular Closure Device, the first commercially available biomechanical vascular closure device designed specifically for large bore femoral arterial access site closure. MANTA Device is indicated for closure of femoral arterial access sites while reducing time to hemostasis following the use of 10-20F devices or sheaths (12-25F OD) in endovascular catheterization procedures.

Thus, owing to the abovementioned factors, the market segment is expected to grow significantly over the forecast period.

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