Global Vascular Closure Devices (VCDs) Market - Forecasts from 2021 to 2026
発行: Knowledge Sourcing Intelligence
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The global vascular closure devices (VCDs) market is projected to grow at a CAGR of 6.88% to reach US$2.744 billion by 2026, from US$1.723 billion in 2019.
Vascular closure devices (VCDs) are medical devices that are used to seal punctures in the femoral artery in patients who have had diagnostic or interventional angiography operations. The growing popularity of VCDs is due to the fact that they are a viable alternative to manual compression, which is a time-consuming operation that varies based on the size of the plastic sheath inserted into the artery. Mechanical or manual compression does not provide rapid closure of the femoral artery entry point, as VCDs do. The rising popularity of femoral artery cardiac catheterization, the high success rate of VCDs for better patient comfort, and the reduction of hemostasis time are all aspects that might contribute to the market's anticipated expansion during the forecast period. Throughout the projection period, VCD use for diagnostic and therapeutic treatments that allow endovascular image-guided interventions to identify coronary heart disease is projected to contribute to the market's growth. Furthermore, VCDs' capacity to overcome problems such prolonged bed rest and patient pain due by manual compression is projected to enhance industry growth during the projection period. The development of VCDs has transformed the landscape of cardiovascular operations due to ongoing improvements in medical technology. The development of vascular closure devices aids in the prevention of problems related to the vascular access site, which is the leading source of morbidity during catheterization operations. VCDs also decrease the time it takes to achieve hemostasis and increase patient comfort, which has boosted market development expectations.
The existence of significant players operating in this area, as well as an established healthcare system, are factors linked to the rise of vascular closure devices in North America. The North American area offers a diverse range of growth prospects, which is drawing new vascular closure investors. The growing incidence of lifestyle illnesses, government attempts to create breakthrough technology, and demand for advanced medical services are all contributing to the industry's growth. Furthermore, rising rates of cardiovascular disease in the United States are likely to boost VCD use in the area. However, due to the developing economies of China and India, Asia Pacific is anticipated to grow at the highest rate in recent years. Furthermore, the availability of unexplored areas and unmet patient requirements has piqued the interest of industry participants, and they are potential development drivers in this region. Key businesses in many areas are expanding their product portfolios in order to get access to previously unexplored markets, resulting in increased growth in this sector.
One of the major reasons for the growth of the global vascular closure devices market is the use of femoral mode for vascular access. In general, the femoral mode is used for vascular access during coronary angiography and other interventional procedures. The fragment will notice dramatic development since femoral veins are considerably less inclined to fit in association with outspread and offer large-size catheters. Furthermore, the improvement of specific devices that provide access to the femoral blood artery improves fragment extension capacities. However, a few issues with the femoral access site, such as arteriovenous (AV) fistula, pseudoaneurysm, and blood vessel analysis, limit acceptance to a certain extent. As a result of these characteristics, as well as the high procedural volume, the section is expected to grow powerfully during the figure timetable. Furthermore, in the vascular closure devices market, specialty-focused solutions are gaining traction. For example, Teleflex, a major provider of specialty medical devices for critical care and surgery, has announced that its MANTA vascular closure device would be demonstrated at the 2019 PCR London Valves, a multi-disciplinary course being conducted in London, United Kingdom. Specialty-focused solutions are assisting healthcare practitioners throughout the world in improving patient health and quality of life. Companies are putting more effort into developing solutions that simplify difficult procedures and eliminate obstacles associated with typical procedural issues, which is likely to drive market growth even further.
A major restraint in the growth of the global vascular closure devices (VCDs) market is the rising use of radial access for interventional procedures, the high cost of vascular closure devices, and the hazards associated with vascular closure devices. When compared to manual compression devices, vascular closure devices are more expensive. The cost of VCDs is basically added to the patient's hospital bill, and it even raises the per-patient cost for hospitals, reducing revenues at the same time. Furthermore, having access to the radial artery makes it easier for clinicians to accomplish hemostasis utilizing simple manual compression techniques. Another element that contributes to cost savings is the absence of vascular closure devices in interventional procedures employing radial artery access. Furthermore, gadget malfunctions, poor quality, and underperformance are the leading reasons of product recalls. Product failures and recalls cost businesses millions of dollars in lost revenue and product replacements. They may also leave an unfavorable image of the product, which may restrict its adoption.
The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. During the underlying period of pandemics, the development of COVID-19 had an impact on the procedure volume of a few cardiovascular medications. Due of the high risk of Covid contamination during such methods, as well as the growing number of COVID-19 patients admitted to hospitals, the technique was postponed. Nonetheless, the industry is expected to see continued expansion with conventional operating norms and a reduction in the number of patients in specific countries. Mechanical revenue growth has also been aided by authoritative collaborative efforts and government assistance to continue providing successful crisis cardiac treatment to patients. Despite the fact that the market has had a mild influence for a while, it continues to forecast massive growth. However, in the post COVID scenario the global vascular closure devices market is expected to bloom with the surging demand in the forecast period.
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