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

The Vascular Closure Device 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 report offers the value (in USD million) for the above segments.

Market Snapshot

Vascular Closure Device Market Summary
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 6.82 %
Vascular Closure Device Market Major Players

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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.

Product Type
Active Approximators
Clip-based Devices
Suture-based Devices
Plug-based Devices
Passive Approximators
Hemostatic Pads and Patches
Compression Devices
Mode of Access
Femoral Access
Radial Access
End User
Hospitals
Ambulatory Surgical Centres
Other End Users
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 & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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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.

Vascular Closure Device Market : Total Number of Coronary Artery Bypass Graft Procedures (in Thousand), By Country, 2021

North America Holds Major Share in the Market and is Expected to do the Same Over the Forecast Period.

The well-established healthcare infrastructure, the growing burden of cardiovascular diseases, coupled with an increase in catheterization-related procedures, and the rise in demand for minimally invasive solutions in the country are driving the growth of the market in the region. According to the Center for Disease Control and Prevention (CDC) article titled ‘Heart Diseases Facts’ updated in February 2022, heart disease is the leading cause of death in the United States. It also reported that about 659,000 people in the United States die from heart disease each year. Such a high burden of the disease generates the need for vascular closure devices and drives the growth of the market in the region.

Additionally, the market growth is also boosted by approval from regulatory authorities such as the United States Food and Drug Administration and Health Canada. For instance, in April 2021, EnsiteVascular received its second United States Food and Drug Administration (FDA) market clearance for the company’s SiteSeal SV (small vessel) VCD compression device to achieve hemostasis of the brachial artery after a transbronchial endovascular procedure. SiteSeal SV is a new closure device designed for the closure of small arterial vessels, specifically brachial, radial and pedal. It simulates external compression, but removes the associated variables, leaving nothing behind.

Also, in October 2021, Haemonetics received approval from the United States Food and Drug Administration for same-day discharge after atrial fibrillation ablation using its Vascade MVP venous vascular closure system. Vascade MVP is a vascular closure system that is designed for procedures that require multiple access site venous closures.

Thus, owing to the abovementioned factors, the vascular closure device market is expected to project significant growth in the North American region over the forecast period.

Vascular Closure Device- Growth rate By Region

Competitive Landscape

This market is expected to witness lucrative growth due to a high level of competitive rivalry, which translates to high revenue generation in this sector. The prominent players in this market are involved in developing novel VCDs and, in turn, broadening their product portfolios. Acquisition and collaboration with small companies to enhance presence are also expected to propel growth in this vertical. The major players in the market are Abbott Laboratories, Cardinal Health Inc., Biotronik SE & Co. KG, Cardinal Health Inc., CardivaMedical Inc., and Terumo Corporation.

Recent Developments

  • In July 2021, Vivasure Medical reported that it would start the development program for PerQseal Blue. The PerQseal Blue technology is based on PerQseal. The company’s vascular closure device is approved in Europe for use in femoral arteries.
  • In January 2021, Haemonetics Corporation, a medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, entered into a definitive agreement to acquire privately-held Cardiva Medical, Inc., a manufacturer of vascular closure systems.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 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 Increase in Catheterization-related Procedures

      2. 4.2.2 Increase in Demand for Minimally Invasive Solutions

      3. 4.2.3 Ease of Use of VCDs

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Products

      2. 4.3.2 Complications Associated with VCDs

    4. 4.4 Porter's Five Forces 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 (Market Size by Value – USD million)

    1. 5.1 Product Type

      1. 5.1.1 Active Approximators

        1. 5.1.1.1 Clip-based Devices

        2. 5.1.1.2 Suture-based Devices

        3. 5.1.1.3 Plug-based Devices

      2. 5.1.2 Passive Approximators

        1. 5.1.2.1 Hemostatic Pads and Patches

        2. 5.1.2.2 Compression Devices

    2. 5.2 Mode of Access

      1. 5.2.1 Femoral Access

      2. 5.2.2 Radial Access

    3. 5.3 End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centres

      3. 5.3.3 Other End Users

    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 & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East & 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 Advanced Vascular Dynamics

      3. 6.1.3 B. Braun Melsungen AG

      4. 6.1.4 Biotronik SE & Co. KG

      5. 6.1.5 Becton, Dickinson and Company (C.R. Bard Inc.)

      6. 6.1.6 Cardinal Health Inc.

      7. 6.1.7 Cardiva Medical Inc.

      8. 6.1.8 Vivasure Medical Ltd

      9. 6.1.9 Medtronic PLC

      10. 6.1.10 Terumo Corporation

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

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

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Frequently Asked Questions

The Vascular Closure Device (VCD) Market market is studied from 2019 - 2027.

The Vascular Closure Device (VCD) Market is growing at a CAGR of 6.82% over the next 5 years.

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

North America holds highest share in 2021.

Cardinal Health, Abbott Laboratories, Cardiva Medical Inc., Terumo Corporation, Biotronik SE & Co. KG are the major companies operating in Vascular Closure Device (VCD) Market.

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