Vascular Closure Device Market Share, Size & Growth Outlook 2030

The vascular closure device market is expected to reach US$ 2,804.55 million by 2030 from US$ 1,620.44 million in 2022. The market is estimated to grow with a CAGR of 7.1% from 2022 to 2030.

Market Insights and Analyst View:

A vascular closure device is a piece of collagen (a fibrous protein found in skin, connective tissue, and bone), a metallic clip, or a suture designed to close the small puncture produced in an artery following an angiography. Key factors driving the vascular closure device market growth include the increasing prevalence of cardiovascular diseases and burgeoning demand for minimally invasive devices. However, the risk of infection related to vascular closure devices hinders the market growth.

Growth Drivers and Restraints:

Cardiovascular diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction are the major causes of mortality in the world. As per data provided by the World Health Organization (WHO), cardiovascular diseases cause nearly 17.9 million deaths every year, which makes it a leading cause of mortality among all noncommunicable diseases, followed by cancer, chronic respiratory diseases, and diabetes (including deaths associated with renal disorders). According to the World Heart Federation, high cholesterol causes 4.4 million deaths yearly, and ∼24% of cardiovascular-related deaths are associated with high low-density lipoprotein (LDL) levels. According to a study published in January 2023 by NCBI, in the US, the number of people aged 50 years and older is likely to reach 221.13 million by 2050 from 137.25 million in 2020. Among people from this age group, the number of people suffering from at least one chronic disease is projected to rise by 99.5%, reaching 142.66 million by 2050 from 71.52 million in 2020. Moreover, ~14 million people of age 50 and above are likely to have comorbidities in 2050.

Vascular closure devices (VCDs) offer a new way to enhance patients’ comfort and ambulation after invasive cardiovascular treatments via femoral arterial access. These devices are used in different therapeutic approaches to provide easy, quick, and reliable hemostasis. In the US, femoral arterial access is the most often used vascular access technique for percutaneous coronary intervention (PCI) and coronary angiography. Nevertheless, there has been an increase in traction toward cardiac catheterization and percutaneous coronary intervention (PCI) via radial access in recent years. Several femoral artery closure devices have been developed to shorten vascular closure times, with variable rates of vascular complications observed in clinical trials. VCDs have emerged as an effective alternative to traditional mechanical compression procedures performed after cardiac catheterization. VCDs reduce the time of hospital stays, speed up patient mobilization, and shorten the time needed to achieve hemostasis. Thus, the vascular closure device market is growing notably with the increasing prevalence of cardiovascular diseases.

On the other hand, vascular closure devices are more prone to causing infections as compared to manual compression. Groin hematomas are among the most common problems that can occur just after sheath removal upon failure to control the femoral artery while using femoral vascular closure devices. In cases of vascular closure device failure, manual compression must be applied to accomplish hemostasis. Groin hematomas are the most common complication with femoral access, and patients who develop a hematoma should be seriously refrained from normal physical activities. Thus, groin hematomas may lead to incremental healthcare costs due to complications and extended length of hospital stays. Other notable complications of closure devices include limb ischemia and ischemia distal to the arteriotomy site. Distal limb ischemia commonly occurs through distal embolization or thrombosis, and it can be caused due to the placement of a closure device, which is contraindicated in heavily calcified areas of arteries. Compared to manual compression, limb ischemia infection is more common in vascular closure devices. Thus, the risk of infection hampers the growth of the vascular closure device market to a certain extent.

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Vascular Closure Device Market: Strategic Insights

Market Size Value in	US$ 1,620.44 million in 2022
Market Size Value by	US$ 2,804.55 million in 2030
Growth rate	CAGR of 7.1% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Report Segmentation and Scope:

The global vascular closure device market is segmented on the basis of product type, access, procedure, and end user. Based on product type, the market is divided into active approximators, passive approximators, and external hemostatic devices. The vascular closure device market, by access, is bifurcated into femoral access and radial access. Based on procedure, the market is segmented into interventional radiology, interventional cardiology, and endovascular surgical. In terms of end user, the vascular closure device market is segmented into hospitals, ambulatory surgical centers, and others. The vascular closure device market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

The vascular closure device market, by product type, is segmented into active approximators, passive approximators, and external hemostatic devices. The passive approximators segment held the largest share of the market in 2022, and it is anticipated to register the highest CAGR in the market during 2022-2030. Passive approximators deploy a plug, sealant, or gel at the arteriotomy site instead of closing it via an active mechanism. Unlike active approximators, passive approximators do not require any additional closure mechanisms, such as sutures or clips, once deployed. Passive approximators typically consist of biodegradable or resorbable components that facilitate the natural clotting process and promote the formation of a stable blood clot at a puncture site.

Vascular Closure Device Market, by Product Type – 2022 and 2030

Access Data

Based on access, the vascular closure device market has been segmented into femoral access and radial access. The femoral access segment held a larger share of the market in 2022. The radial access segment is expected to register a higher CAGR in the market during 2022–2030. Femoral access involves accessing blood vessels through the femoral artery in the groin area, while radial access involves accessing blood vessels through a radial artery in the wrist. The radial approach has gained popularity in recent years due to its advantages such as reduced risk of complications, including bleeding and hematoma, compared to femoral access.

Based on procedure, the vascular closure device market is segmented into interventional radiology, interventional cardiology, and endovascular surgical. The interventional cardiology segment held the largest share of the market in 2022. However, the interventional radiology segment is expected to register the highest CAGR in the market during 2022–2030. Interventional radiology (IR) is a medical specialty that uses minimally invasive techniques guided by medical imaging to diagnose and treat a wide range of conditions.

Based on end user, the vascular closure device market is segmented into hospitals, ambulatory surgical centers, and others. The hospital segment held the largest share of the market in 2022. The ambulatory surgical centers segment is further expected to register the highest CAGR in the market during 2022–2030. Hospitals are the primary end users of vascular closure devices as they offer a wide range of medical services, including invasive procedures that require vascular access.

Regional Analysis:

Based on geography, the vascular closure device market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America held the largest share of the global vascular closure device market. Asia Pacific is estimated to register the highest CAGR during 2022–2030.

The US is estimated to hold the largest share of the vascular closure device market during 2022–2030. The country has a well-developed healthcare sector with access to highly advanced equipment and instruments. It reports a high prevalence of cardiovascular diseases. According to the “Heart Disease and Stroke Statistics - 2023 Update” by the American Heart Association, in 2020, coronary heart disease (CHD) was a leading cause (41.2%) of deaths associated with CVDs in the US, followed by stroke (17.3%), other CVD (16.8%), high blood pressure (12.9%), heart failure (9.2%), and artery diseases (2.6%), respectively. As per the US Centers for Disease Control and Prevention (CDC), ~1 in 20 adults in the US, aged 20 and above, have coronary artery disease. The study also mentions coronary artery disease as the most common type of heart disease in the US. Thus, a high prevalence of CVDs and coronary artery disease would propel the adoption of vascular closure devices during surgical interventions in the US in the coming years.

The US is a hub for medical innovations and technological advancements in healthcare. Continuous advancements in technologies associated with minimally invasive procedures, improvements in closure device technologies, and the introduction of novel closure devices contribute to the growth of the vascular closure devices market in the US. For instance, in March 2023, Haemonetics Corporation (US) invested ~US$ 31.72 million (EUR 30 million) in Vivasure Medical Limited. In March 2023, Vivasure Medical announced FDA IDE approval to Initiate a US Pivotal Study evaluating the safety and effectiveness of the Vivasure PerQseal Closure Device System. In 2021, VASCADE MVP was the first and only FDA-approved vascular closure device indicated for use following atrial fibrillation (AF) ablation to allow same-day discharge.

Industry Developments and Future Opportunities:

Various initiatives by key players operating in the global vascular closure device market are listed below:

1. In August 2023, Haemonetics Corp announced that its VASCADE MVP Venous Vascular Closure system was used for the first time in Germany in treatments. This marked the first use of VASCADE systems, which are used widely in hospitals in the US, in a European country.
2. In June 2023, Becton Dickinson and Co. opened a new manufacturing facility in Tijuana. The new 15,775-square-meter facility produces devices and other products to improve medication safety within healthcare settings.
3. In May 2023, Cardinal Health Canada planned to open a new distribution center in Greater Toronto, strategically expanding its distribution channel with the addition of 9 other locations to better meet the medical and surgical product demands of the Canadian healthcare system.
4. In September 2022, Haemonetics Corp earned CE mark certification for its VASCADE vascular closure and VASCADE MVP venous vascular closure systems.
5. In May 2022, Teleflex Inc, a global provider of medical technologies, 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. This approval marks an important milestone in the plan of Teleflex to expand the availability of the MANTA globally, followed by apt regulatory approvals, thereby providing healthcare systems in Canada and in the world access to its another uniquely designed device.
6. In August 2020, Vasorum Ltd signed a distribution agreement with Veryan Medical. Under the agreement, Veryan Medical supported Vasorum Ltd to commercialize the Celt ACD in the US market. Moreover, the agreement allowed both companies to strengthen their presence in the US market.

Competitive Landscape and Key Companies:

Cordis Corp, Transluminal Technologies LLC, Vasorum Ltd, Haemonetics Corp, Abbott Laboratories,     Becton Dickinson and Co, Cardinal Health Inc, ENDOCOR GmbH & CO KG, Medtronic Plc, and Teleflex Inc are among the prominent players operating in the vascular closure device market. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios.