Vascular Closure Devices Market Size, Share & Industry Analysis, By Product Type (Plug Based Devices {Sealant or Gel-based Devices and Collagen Plugs}, and Clip Based Devices {Suturing Devices and Clip/Staple Devices}), By Type (Active and Passive), By Access Site (Femoral, Radial, and Others), By End-user (Hospitals & ASCs, Specialty Clinics, and Others), and Regional Forecast, 2024-2032

The global vascular closure devices market size was USD 1.82 billion in 2023. The market is expected to grow from USD 1.96 billion in 2024 to USD 3.96 billion by 2032, exhibiting a CAGR of 9.2% during the forecast period. 

Vascular closure devices (VCDs) are medical devices used to achieve hemostasis of the puncture hole in the artery following catheterization procedures such as stent placement, angioplasty, and angiography. These devices are designed to facilitate the closure of the access site, reduce the time of hemostasis, and enable early ambulation of the patients. Such benefits associated with the devices increase the global vascular closure devices market demand.

Furthermore, complications associated with manual compressions, such as hematoma, pseudo aneurysm, and arterial occlusion, are a labor-intensive and time-consuming process that prolongs patient recovery time and increases hospital costs. Such scenarios increase the adoption of these devices and thus, propel the growth of the market.

Moreover, the increasing prevalence of cardiovascular diseases and rise in the number of interventional cardiology procedures lead to increased demand for these, bolstering the growth of the market.

• For instance, according to an article published by the National Institutes of Health (NIH) in 2023, Cardiac catheterization is one of the most widely performed cardiac procedures. More than 1,000,000 cardiac catheterization procedures are performed annually in the U.S. Invasive procedures may entail patient-related and procedure-related complications. In such cases VCDs are used to minimize such complications, thus propelling the product demand.

In addition, rising initiatives, such as collaborations and investments by key players in the market to launch advanced VCDs, are expected to propel the growth of the market during the forecast period.

• For instance, in March 2023, Haemonetics Corporation invested USD 32.2 million in Ireland-based Vivasure Medical, the company involved in developing a portfolio of fully absorbable, patch-based, large-bore percutaneous vessel closure devices.

During the COVID-19 pandemic, a negative impact on the global market was observed. The sudden rise in the number of cases of COVID-19 shifted the healthcare focus to improving the pandemic situation. This led to a decrease in patient visits to hospitals during the pandemic for interventional cardiology procedures. This was a crucial factor responsible for the decline of growth in the market. Additionally, the decline in revenue for key players of these devices was observed during this period.

However, the ease of COVID-19 guidelines and the resumption of hospital visits for cardiovascular surgeries improved the situation of the market in late 2021. Moreover, in 2022, the market is getting back to the pre-pandemic level with an increasing number of procedures and rising adoption of these devices.

Furthermore, the increasing number of patient appointments has allowed the global market to rebound to pre-pandemic levels in 2023, with sustained growth throughout the 2024-2032 period.

Vascular Closure Devices Market Trends

Introduction of Advanced Product Offering is a Prominent Trend

In recent years, various complications associated with conventional VCDs have been observed. The complications associated with sutures-mediated devices such as tissue trauma, inflammation, discomfort, inadequate sealing, delayed hemostasis, and foreign body reactions associated with collagen-based devices.

This led to increasing research and development activities aimed at introducing advanced products for convenient and safe access site closure with lesser complications, thus driving the expansion of the global vascular closure devices market trends during 2024-2032.

• For instance, in July 2021, Vivasure Medical developed a program for PerQseal Blue. This product is a sutureless and fully bioresorbable large-bore venous vessel closure device. It is designed for percutaneous cardiovascular procedures, including transcatheter mitral valve repair or replacement (TMVR) and transcatheter tricuspid valve repair or replacement (TTVR).

Moreover, increasing clinical trials, fundraising activities, and government initiatives aimed at advancing product offerings in the market are expected to propel the adoption of these devices and drive growth of the market during the forecast period.

Vascular Closure Devices Market Growth Factors

Rising Number of Interventional Procedures augments the Product Demand in the Market

In recent years, vascular closure devices have been increasingly used after minimally invasive surgical procedures for the diagnosis and treatment of cardiovascular diseases. The growing prevalence of cardiovascular diseases is augmenting the increasing number of interventional procedures and thus raising the usage of these devices in these procedures. Such an increasing number of cases boosted the adoption of devices for vascular closure and propelled the growth of the market.

• For instance, according to the 2022 Heart Disease & Stroke Statistical Update Fact Sheet Global Burden of Disease, it was estimated that 244.1 million people were living with ischemic heart disease (IHD) globally, with a higher prevalence in males than in females (141.0 and 103.1 million people, respectively in 2020 ).


• Additionally, according to the data published by the Organisation for Economic Co-operation and Development (OECD), in Mexico, an estimated 3,293 procedures for transluminal coronary angioplasty were performed in 2022 compared to 2,860 in 2021.

Moreover, these devices show significant improvement in achieving hemostasis and reducing the recovery time compared to manual compression after interventional procedures. Such advantages of the devices drive the growth of the market.

Significant Product Benefits Elevating the Product Expansion in the Market

In recent years, the increasing benefits of vascular closure devices over manual compression techniques to achieve hemostasis have significantly boosted the adoption of these devices in medical practice. These devices allow hemostasis by directly addressing the access site within 5 minutes, compared to manual compression, which takes more than 15 minutes.

Moreover, these devices may also be more cost-effective than manual compression due to shorter time-to-hemostasis and post-procedure ambulation, allowing same-day discharge for patients.

• For instance, according to an article published by the National Institutes of Health (NIH) in 2023, a study model estimated potential savings for the National Health Service of up to USD 5.6 million (£4.5 million) annually if vascular closure devices were used in every procedure instead of manual compression. Moreover, there was an average cost saving of USD 218.9 (£176) per procedure for closure devices over manual compression, primarily due to fewer inpatient stays.

Thus, reduction in complication risks, enhanced patient comfort, decreased nursing requirements and economic benefits improve the overall procedural outcomes and thus drive the growth of the market.

RESTRAINING FACTORS

Product Recalls Related to Vascular Closure Devices Limit the Market Growth

In spite of the various benefits associated with the devices and technological advancements in this field, there have been numerous product recalls recorded. Additionally, companies issue recalls for products due to some of the common concerns such as sterility or packaging issues,  which can pose safety risks for patients. Such scenarios hinder the growth of the market.

• For instance, in April 2022, the U.S. Food and Drug Administration annouonced the recalled of Cardinal Health's product CELT ACD. It was reported that a user attempted to use a 6f Celt device to close a 6f arterial puncture, resulting in the immediately formation of a hematoma after deployment.

Such incindents might create a negative impression of the product and may hamper the global vascular closure devices market growth in the coming years.

Vascular Closure Devices Market Segmentation Analysis

By Product Type Analysis

Presence of Active Reimbursement Coverage Contributed to the Growth of Plug Based Devices Segment in the Market

In terms of product type, the global market is bifurcated into plug based devices and clip based devices. 

The plug based segment dominated the global market in the product type segment. The plug based segment is further divided into sealant or gel based devices and collagen plugs. Among plug based devices, the collagen plugs segment accounted for a significant market share in 2023. Collagen-based plugs or sealants promote clot formation and provide a physical barrier to reduce bleeding, often used in combination with other closure methods. The increasing prevalence of cardiovascular diseases and minimally invasive procedures associated with them propelled the adoption of these devices.

• For instance, in March 2024, according to the data published by the National Institute of Health, more than 1.0 million transcatheter-based cardiovascular procedures across the spectrum of interventional cardiology were performed annually in the U.S.

Moreover, the increasing reimbursement facilities and awareness for the adoption of plug based devices lead to an increasing adoption of these devices by the patients. Thus bolstering the growth of the segment in the market.

• For instance, in October 2023, Japan Lifeline Co., Ltd. announced that the VASCADE MVP, a vascular closure device for femoral veins manufactured by Haemonetics, received reimbursement coverage. Such initiatives boost the growth of the market.

Furthermore, the clip based devices segment held a substantial share of the market. The clip based devices segment is further divided into suturing devices and clip/staple devices. The suturing devices in the clip based devices held a significant market share in 2023.

The suture-mediated devices are utilized for large bore closure after minimally invasive surgeries such as endovascular aneurysm repair (EVAR) and transcatheter aortic valve implantation (TAVI). Moreover, increasing partnerships and launches of clip-based devices by major players in the market are expected to propel the growth of the segment during the forecast period.

By Type Analysis

Passive Segment Held the Largest Share due to Growing Research Activities 

Based on type, the market is segmented into passive and active. 

The passive segment held the largest market share in 2023. Passive approximators comprise collagen plug and sealant or gel-based device-based devices. The growth of the segment is augmented by the increasing research and development activities by key players to launch passive devices in the market, propelling the growth of the segment in the market.

• For instance, in June 2022, CyndRx announced the initiation of patients enrollment in the U.S. for the SEAL TO HEAL clinical trial. This trial aimed to evaluate the safety and efficacy of the new AbsorbaSeal 5.6.7F vascular closure device. Such advancements and clinical study initiatives taken by key players boost the growth of the segment in the market.

Furthermore, the active segment holds a notable share of the market and is expected to grow at a significant CAGR during the forecast period. The active approximators contain devices such as sutures and clip-mediated for vascular closures.

The growth of the segment is attributed to robust efforts and collaboration between key players to develop and launch new clip-based systems, is expected to drive the market growth during the forecast period.

By Access Site Analysis

Rising  Prefrence of Femoral Artery for Cardiovascular Procedures Due to Large Size and Ease of Access Leading to the Growth of the Segmenet in Market

Based on access site, the market is divided into femoral, radial, and others.

The femoral segment held the most significant global vascular closure devices market share. The growth of the segment is attributable to increasing interventional cardiology procedures such as catheterization and the femoral artery being a preferred access site for a wide range of cardiovascular procedures due to its large size and ease of access. Additionally, increasing regulatory approvals for these devices for femoral access site closure is projected to boost the growth of the segment in the market.

• For instance, in May 2022, Teleflex Incorporated announced the Health Canada approval for the MANTA Vascular Closure Device. The device is designed for large-bore femoral arterial access site closure. This approval led to the expansion of the availability of the MANTA Device in Canada, contributing to global market growth.

Furthermore, the radial access site segment held the second highest share of the access site segment and is expected to grow with a significant CAGR during the forecast period. The growth of the segment is due to the preference for radial access sites for many cardiology procedures, where hemostasis is achieved by manual compression.

However, the complications associated with manual compression, such as bleeding hematoma, have shifted the focus of the researchers and companies to develop new and advanced devices for radial compression. Thus, increasing research initiatives by key players in the market to launch devices for radial access sites may propel the growth of the segment during the forecast period.

• For instance, in May 2019, Cordis announced the U.S. launch of the RADIAL 360 portfolio. The portfolio comprises a range of products to facilitate the trans-radial approach (TRA) for interventional cardiology procedures, including the ZEPHYR Vascular Compression Band, which is designed to provide security, comfort, flexibility, and simplicity to achieve patent hemostasis.

By End-user Analysis

Hospital & ASCs Segment led the Market owing to Extensive Network of Facilities

Based on end-user, the global market is segmented into hospitals & ASCs, specialty clinics, and others.

The hospital & ASCs segment held a dominant share of the global market in 2023. The growth of the segment is due to the facilities provided by the government in developed countries for better hospital stays and efficient treatments, which have boosted hospital admission count and increased the demand for cardiology procedures.

The increasing number of patient visits and cardiology procedures in hospitals has led to the adoption of these devices, contributing to the growth of the segment in the market.

• According to data published by the U.S. Department of Health & Human Services in April 2024, around 13.0 million patients who visited physician offices were recorded with coronary atherosclerosis and other chronic ischemic heart disease.


• In addition, in December 2022, according to the Ambulatory Surgery Center Association, there are 6,200 Medicare-certified ASCs in the U.S. Such a substantial number of hospital & ambulatory surgical centers is expected to boost the accessibility of advanced products such as vascular closure devices for interventional procedures.

The specialty clinics segment held a significant portion of the market. The growth of the segment is attributable to a wide range of service offerings with state-of-the-art facilities and specialized instruments for cardiac care. Moreover, the launch of advance facility clinics for cardiac care is expected to propel the growth of the segment during the forecast period.

• For instance, in January 2023, The Royal Melbourne Hospital (RMH) in Australia launched a new cardiac catheter laboratory, which led to an increase in patient flow and a decrease in the length of hospital stay for cardiac care.

Furthermore, the other segment holds a considerable share of the market. This segment includes academic & research institutes. The rising research and development activities aimed at launching advanced products with fewer complications are expected to propel the growth of the segment during the forecast period.

REGIONAL INSIGHTS

Based on geography, the market for vascular closure devices is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

North America dominated the global market, with a revenue of USD 0.80 billion in 2023. The increasing prevalence of cardiovascular diseases and the number of interventional cardiology procedures associated with them are expected to boost the adoption of these devices in the region.

• For instance, according to the data published by the Organisation for Economic Co-operation and Development (OECD), in Canada, 54,392 procedures for transluminal coronary angioplasty were performed in 2022 compared to 53,700 in 2021.

Additionally, the presence of key players in the market, advanced research facilities with stringent regulatory standards, and sophisticated healthcare infrastructure in the region result in the adoption of the devices in the region and maintain its dominance in the global market.

Europe held the second-largest share of the global market in 2023 due to the rising number of procedures associated with cardiovascular diseases. The presence of advanced healthcare infrastructure and facilities with high standards of care is expected to boost the adoption of these devices in the region.

Additionally, the rising government initiatives in the region to improve cardiac care and provide advanced facilities to patients suffering from cardiovascular disease.

• For instance, in October 2023, Royal Philips partnered with University Hospitals Sussex NHS Foundation Trust to launch a Cardiac Catheter Lab to enhance heart disease diagnosis for individuals in Sussex. Such partnerships increase the accessibility and product adoption of these devices in the region.

On the other hand, the Asia Pacific region is expected to grow with the highest CAGR during the forecast period. The growth of the region is augmented by the rising geriatric population and lifestyle modification, leading to an increased number of cases associated with cardiovascular diseases. The increased number of cases, coupled with an increasing number of interventional surgeries, has propelled the adoption of these in the region.

Moreover, the increasing collaboration among the key players for advancing cardiac care in the region is expected to propel the growth of the region in the market.

• For instance, in August 2022, GE Healthcare partnered with Boston Scientific to offer comprehensive interventional cardiac care solutions in India. This collaboration aimed to address the prevalent disease, improve access to treatment, and enhance heart care for patients in the country. Such collaborations are expected to expand the product adoption in the region.

Latin America and the Middle East & Africa regions held a relatively low share of the market due to lesser adoption of these devices in the region. However, increasing number of cases of stroke and coronary artery diseases along with rising healthcare expenditure and strategic initiatives by the regional government are expected to boost product adoption during the forecast period.

• For instance, in June 2022, The American Heart Association launched a new implementation science program in Mexico with an aim to standardize the diagnosis and treatment of cardiovascular diseases and focus on improving patient care with atherosclerotic cardiovascular disease (ASCVD)—such initiatives leading toward the growth of the market in the region.

KEY INDUSTRY PLAYERS

Strong Geographic Presence Coupled with Advance Product Offerings by Key Players Helps to Maintain its Position in the Market

The competitive landscape of the market imitates a consolidated structure. Terumo Corporation, Abbott, Teleflex Incorporated, and Haemonetics Corporation are some of the significant players that hold a central portion of the global market share. Owing to the presence of robust product portfolios, solid geographic presence, and strategic activities to advance product offerings in the market.

• For instance, in February 2024, Terumo Corporation announced the opening of its new manufacturing facility in Caguas, Puerto Rico site. This facility aimed to fulfill the increased demand for Angio-Seal VCDs in the region.

The other prominent include Cordis, Vivasure Medical Ltd., Vasorum Ltd., INVAMED, and other key players in the global market in terms of share. The presence of diversified products with initiatives for research and development for launching advanced products with regulatory approvals in the market is anticipated to boost their market presence during the forecast period.

LIST OF TOP VASCULAR CLOSURE DEVICES COMPANIES:

• Terumo Corporation (Japan)


• Abbott (U.S.)


• Teleflex Incorporated (U.S.)


• Cordis (U.S.)


• Haemonetics Corporation (U.S.)


• Vasorum Ltd. (Ireland)


• INVAMED (U.S.)


• Vivasure Medical Ltd. (Ireland)

KEY INDUSTRY DEVELOPMENTS: 

• December 2023: Vivasure Medical Ltd. enrolled the first patients for the ELITE clinical study of the PerQseal Elite. The multicenter single-arm clinical study aimed to evaluate the safety and efficacy of PerQseal Elite.


• October 2023: Terumo Corporation announced that its two state-of-the-art closure devices, Angio-Seal VIP & Femoseal, received a CE mark.


• February 2023: Terumo Corporation acquired Medeon Biodesign, Inc., with an aim to add large bore vascular closure devices to their product portfolio and expand the interventional access device business.


• September 2022: Haemonetics Corporation received CE mark certification for its VASCADE vascular closure and VASCADE MVP venous vascular closure systems.


• March 2021: Vasorum Ltd. received an investment of USD 6.49 million from BGF. The investments were used to broaden the company's product offering and accelerate the adoption of the CELT ACD in the U.S. market.

REPORT COVERAGE

The global vascular closure devices market report focuses on an industry overview and market dynamics, such as the drivers, restraints, opportunities, and trends. Besides this, the market research report provides information related to technological advancements and pricing analysis of products in the market. Furthermore, the global market analysis also focuses on the prevalence of key diseases, key industry developments, and new product launches in the market. In addition, the impact of COVID-19 is also covered in the report.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Unit	Value (USD billion)
Growth Rate	CAGR of 9.2% from 2024-2032
Segmentation	By Product Type Plug Based Devices Sealant or Gel-based Devices Collagen Plugs Clip Based Devices Suturing Devices Clip/Staple Devices
By Type Active Passive
By Access Site Femoral Radial Others
By End-user Hospitals & ASCs Specialty Clinics Others
By Region North America (By  Product Type, By Type,  By Access Site,  By End-user, and By Country) U.S. Canada Europe (  By  Product Type, By Type,  By Access Site,  By End-user, and By Country/Sub-Region) U.K. Germany France Spain Italy Scandinavia Rest of Europe Asia Pacific (  By  Product Type, By Type,  By Access Site,  By End-user, and By Country/Sub-Region) Japan China India Australia Southeast Asia Rest of Asia Pacific Latin America (  By  Product Type, By Type,  By Access Site,  By End-user, and By Country/Sub-Region) Brazil Mexico Rest of Latin America Middle East & Africa (  By  Product Type, By Type,  By Access Site,  By End-user, and By Country/Sub-Region) GCC South Africa Rest of Middle East & Africa