Vascular Plugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The vascular plugs market is segmented by Type (Arterial or Venous Closer Vascular Plugs, Congenital Heart Malformation Closer Vascular Plugs, and Other Types), Material (Titanium-Nickel and Other Materials), End User (Hospital, Ambulatory Surgical Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, and Rest of World). The report offers the value (in USD million) for the above segments.

Market Snapshot

Vascular Plugs Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 5.7 %
Vascular Plugs Market Key players

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Market Overview

The vascular plugs market is expected to register a CAGR of 5.7% over the forecast period, 2022-2027.

The COVID-19 pandemic has affected the growth of the global market in 2020. The major players in the market observed a drop in their revenues due to a reduction in the volume of vascular processes and lower sales of devices. Also, in various healthcare settings, crucial healthcare sources were transferred to administer COVID-19 patients, leading to restrictions on non-important hospital visits and a drop in the number of non-prominent embolization procedures. The vascular surgeries denied (canceled/postponed) to reserve or redirect the accessible limited capacities and resources (such as hospital beds and patient care professionals) towards COVID-19 patient care. For instance, as per the article published by National Center for Biotechnology Information, titled 'The Vascular Surgery Emergency Department in Times of COVID-19 Pandemic' in March 2021, there was a 43.3% decrease in the number of visits to the vascular surgery emergency department in the first month after the first diagnosis of COVID-19 in Portugal. Thus, the decreasing number of vascular processess due to COVID significantly impacted the market growth. Additionally, the majority of countries had enforced lockdowns and curfews to curb the increasing number of COVID-19 cases. Owing to these lockdowns, patients were not able to visit hospitals, OPDs, or clinics. This temporary denial of non-emergent healthcare services is expected to have a significant impact on the growth of the vascular plugs market.

The increase in the prevalence of cardiovascular diseases (CVDs) is likely to boost the demand for catheterization and interventional procedures for the tretmant of cardiovascular diseases (CVDs). As per the World Heart Federation in year 2020, the number of deaths occurring in a year due to CVDs was about 17.3 million. Additionally, according to the article published by the Institute for Health Metrics and Evaluation in 2020, prevalent cases of total CVD doubled from 271 million in 1990 to 523 million in 2019. Thus, the increasing incidences and prevalence of cardiovascular diseases is likely to fuel the market growth for vascular plugs over the forecast period.

Furthermore, the increasing number of product launches are driving the growth of the market. For instance, in July 2021, Terumo Medical Corporation (TMC) has launched the AZUR Vascular Plug the first and only plug compatible with a microcatheter to occlude arteries up to 8mm in diameter. The newest addition to Terumo's robust embolization portfolio is indicated for use to reduce or block the rate of blood flow in arteries of the peripheral vasculature. Thus the increasing number of product launches are responsible for the growth of the market.

Therefore, owing to the aforementioned factors the market is anticipated to witness growth over the forecast period. However, the requirement for highly skilled professionals, risks associated with vascular plugs, and stringent regulatory framework are likely to hamper market growth.

Scope of the Report

As per the scope of the report, vascular plugs are ideally suited to close extra-cardiac, high-flowing vascular communications. Vascular plugs in general have a lower profile and the newer variants can be delivered even through a diagnostic catheter. The vascular plugs market is segmented by Type (Arterial or Venous Closer Vascular Plugs, Congenital Heart Malformation Closer Vascular Plugs, and Other Types), Material (Titanium-Nickel and Other Materials), End User (Hospital, Ambulatory Surgical Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, and Rest of World). The report offers the value (in USD million) for the above segments.

By Type
Arterial or Venous Closer Vascular Plugs
Congenital Heart Malformation Closer Vascular Plugs
Other Types
By Material
Titanium-Nickel
Other Materials
By End User
Hospital
Ambulatory Surgical Centers
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
Rest of World

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Key Market Trends

Arterial or Venous Closer Vascular Plugs Segment is Expected to Show a High Growth During the Forecast Period

The Arterial or Venous Closer Vascular Plugs segment is expected to hold a significant market share. As per the National Center for Biotechnology, an article published in 2020, arterial or venous closer vascular plugs are the established type of embolic devices that are an excellent alternative to coils or detachable balloons to embolize medium to large vessels with high flow. These devices are also easy to use and could be precisely deployed in the target vessel with high resistance to migration and a low recanalization rate. The arterial or venous closer vascular plugs have minimal risk of migration even in high-flow situations or in short landing zones, where coils may not be stable. The delivery mechanism also allows repositioning. It is possible to achieve occlusion of a large-diameter vessel with a single device rather than multiple coils. It could also be used when coil placement does not achieve complete occlusion. Thus, the advantages offered by Arterial or Venous Closer Vascular Plugs are generating the demand for arterial or venous closer vascular plugs in healthcare settings which are fueling the growth of the market.

Increasing research and development activities along with novel product launches are further boosting the demand for the product. For instance, in july 2021, Terumo Medical Corporation has launched AZUR Vascular Plug which represents a balance of properties – stability, accuracy, and reliable occlusion. The Azur Vascular Plug comes in sizes to treat arterial anatomy ranging from 2.5mm to 8mm, with a short deployment length for increased precision. The Features involves a conformable nitinol braid that stays in place, even in tortuous anatomy. It also comes with a polytetrafluoroethylene (ePTFE) and polyethylene terephthalate (PET) inner composite membrane to facilitate mechanical occlusion.

Thus, the aforementioned factors are propelling the growth of the segment.

Vascular Plugs Market Trends

North America is Expected to Dominate the Vascular Plugs Market

In 2020, North America dominated the global vascular plugs market, The large share of the North American market could be attributed to the increasing prevalence of cardiovascular diseases, the growing trend of one-day surgeries for vascular procedures, rising research, and clinical trials for vascular plugs in the United States, the increasing number of cardiac arrest cases, and the long waiting periods for cardiac surgeries in the region.

Also, the rising number of vascular surgeries in the United States are increasing demand for vascular plugs in the region. As per the society of vascular surgery report published in 2021, as the United States' population of Baby Boomers continues to age, the potential for vascular disease increases. In 2020, the youngest Baby Boomers turned 55. Because many vascular diseases occur in the elderly, these 76 million Americans would create a demand for more vascular health services such as vascular plugs.

Also approximately, 200,000 people in the United States are diagnosed annually with an abdominal aortic aneurysm (AAA). Approximately 795,000 people Americans die each year from a ruptured abdominal aortic aneurysm (AAA). Vascular disease could block the carotid arteries to the brain and cause paralyzing strokes. Stroke remains the third leading cause of death in the United States as per the American Stroke Association statistics. Thus, the increasing incidences of stroke are propelling the need for vascular plugs in tretament processess. Thus, the aforementioned factors are boosting the growth of the North America Region.

Vascular Plugs Market Growth rate

Competitive Landscape

The global vascular plugs market is highly competitive and consists of certain major players such as Abbott, Medtronic, Lifetech Scientific Corporation, Lepu Medical Technology(Beijing) Co., Ltd., Infiniti Medical, LLC, EndoShape, Inc., ArtVentive Medical Group Inc., Terumo Corporation, Becton, Dickinson, and Company and Shape Memory Medical Inc.

Recent Development

  • In September 2021, Abbott (US) acquired Walk Vascular, LLC (US) to expand its portfolio of peripheral vascular devices.
  • In September 2020, Teleflex Incorporated (US) acquired Z-Medica, LLC (US), an industry-leading manufacturer of hemostatic products that would lead to revenue growth for the company by expanding its product portfolio in the Interventional segment.

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 Rising Incidents of Cardiovascular Disease Worldwide

      2. 4.2.2 Increasing Prevalence of Obesity

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Vascular Plugs

    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 (Market Size by Value - USD million)

    1. 5.1 By Type

      1. 5.1.1 Arterial or Venous Closer Vascular Plugs

      2. 5.1.2 Congenital Heart Malformation Closer Vascular Plugs

      3. 5.1.3 Other Types

    2. 5.2 By Material

      1. 5.2.1 Titanium-Nickel

      2. 5.2.2 Other Materials

    3. 5.3 By End User

      1. 5.3.1 Hospital

      2. 5.3.2 Ambulatory Surgical Centers

      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 Rest of World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott

      2. 6.1.2 Medtronic

      3. 6.1.3 Lifetech Scientific Corporation

      4. 6.1.4 Lepu Medical Technology(Beijing)Co.,Ltd.

      5. 6.1.5 Infiniti Medical, LLC

      6. 6.1.6 EndoShape, Inc.

      7. 6.1.7 ArtVentive Medical Group Inc.

      8. 6.1.8 Terumo Corporation

      9. 6.1.9 Becton, Dickinson and Company

      10. 6.1.10 Shape Memory Medical Inc.

    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 Global Vascular Plugs Market market is studied from 2019 - 2027.

The Global Vascular Plugs Market is growing at a CAGR of 5.7% over the next 5 years.

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

North America holds highest share in 2021.

Lifetech Scientific Corporation, Infiniti Medical, LLC, Abbott, Medtronic, Lepu Medical Technology(Beijing)Co.,Ltd. are the major companies operating in Global Vascular Plugs Market.

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