Global Vascular Closure Devices Market by Product Types, Access, Procedures, Applications, End Users, and Regions — Market Size, Share and Trends, Forecast 2020–2026

Global Vascular Closure Devices Market was valued at USD 702.4 Million in 2017, and is projected to grow at CAGR of 6.2% over forecast period 2020–2026. Rise in obesity and cardiovascular diseases, growing popularity of femoral artery cardiac catheterization and increasing research and clinical trials are key factors driving the market.

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Vascular closure device is a piece of collagen or suture which is designed for sealing of puncture made in the artery after an angiogram. This device is used by the specialist doctors. It has no after or side effects on the body of the patient. The insertion process of VCDs approximately takes 5 minutes. It reduces the recovery time after the surgical procedure. It has also improved patient satisfaction. It has a high efficiency rate as compared to traditional methods. Its main purpose is to make availability of rapid hemostasis of the artery as well as reduce complications.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing initiatives and support by the governments and growing demand for advanced treatment are fueling market growth.
Poor quality and malfunctioning of devices are some factors restraining the market growth. These reasons often cause loss of revenues due to product replacements that lead to product recalls by companies.
High-efficiency rate of these devices are projected to drive market growth during the forecast period.
Rising approvals for the devices are creating opportunities in the market.