- Summary
- TOC
- Drivers & Opportunity
- Segmentation
- Regional Outlook
- Key Players
- Methodology
- FAQ
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Vascular Closing Device Market Size
The Vascular Closing Device Market was valued at USD 1067 Billion in 2024 and is expected to reach USD 1098 Billion in 2025, growing to USD 1380.1 Billion by 2033. This growth reflects a steady CAGR of 2.9% during the forecast period from 2025 to 2033, driven by increasing adoption of minimally invasive procedures, advancements in medical technology, and rising demand for efficient vascular closure solutions across healthcare facilities.
The U.S. Vascular Closing Device Market is experiencing steady growth, driven by the increasing preference for minimally invasive surgeries and advancements in medical technology. With a strong healthcare infrastructure and rising demand for efficient vascular closure solutions, the market is expanding in response to growing patient needs and innovations in the medical device industry.
Key Findings
- Market Size: Valued at 1098 in 2025, expected to reach 1380.1 by 2033, growing at a CAGR of 2.9%.
- Growth Drivers: Rising demand for minimally invasive procedures, contributing to 45% of the market growth.
- Trends: Increasing adoption of absorbable closure devices, accounting for 30% of market share.
- Key Players: Abbott, Morris Innovative, Transluminal Technologies, Vivasure Medical Ltd, Cardinal Health.
- Regional Insights: North America dominates with 45% market share, followed by Europe at 30%.
- Challenges: High cost of advanced devices impacting 20% of market potential.
- Industry Impact: Technological advancements lead to a 25% increase in device adoption rates.
- Recent Developments: New product introductions account for 18% of market growth in 2023 and 2024.
The vascular closing device market is driven by the increasing demand for minimally invasive surgical procedures and enhanced recovery times. As healthcare providers continue to prioritize patient safety and reduce complications, vascular closure devices have gained significant traction. These devices are primarily used in procedures like catheterization and angioplasty, where quick and effective closure of the punctured artery is essential. The growing geriatric population, coupled with rising incidences of cardiovascular diseases, is expected to further fuel market growth. Additionally, technological advancements in device design and the increasing popularity of ambulatory surgical centers contribute to the expansion of this market.
Vascular Closing Device Market Trends
The vascular closing device market has seen notable trends in recent years, with various factors influencing its growth. One of the key trends is the rising demand for minimally invasive surgeries, which has spurred a 25% increase in the adoption of vascular closure devices. These devices are being increasingly favored for their ability to provide faster recovery times, reduce infection risks, and minimize scarring compared to traditional methods.
Moreover, technological advancements in vascular closure devices have contributed to a 20% increase in their efficacy and ease of use. Devices with enhanced hemostatic capabilities and better integration with catheterization technologies are helping improve procedural outcomes and patient safety. For instance, the use of bioabsorbable materials in vascular closure systems is gaining popularity, with a 15% rise in adoption due to their improved patient comfort and quicker recovery times.
Healthcare providers are increasingly turning to vascular closure devices for ambulatory surgical centers (ASCs), driven by their ability to reduce procedural complications and improve operational efficiency. ASCs have seen a 30% uptick in the utilization of vascular closure devices as they aim to enhance patient throughput while maintaining high standards of care.
Patient safety continues to be a significant driver, with patients showing a 35% preference for less invasive procedures due to the reduced risk of complications, such as hematomas and infections. This growing preference for safer, faster, and more effective treatment options is a central factor in shaping the market's trends.
Vascular Closing Device Market Dynamics
Growth in minimally invasive surgeries
The demand for minimally invasive procedures has been increasing significantly, creating an opportunity for vascular closing devices to become more widely used. As a result, 30% of healthcare facilities are now investing in advanced vascular closure devices to meet the growing demand. Additionally, the rising popularity of outpatient care, with a 20% increase in outpatient surgeries over the past few years, is driving the market for these devices. The potential for faster recovery times and reduced complications is another factor fueling growth in this segment.
Rising demand for cardiovascular treatments
Cardiovascular diseases continue to be a major health concern, and there has been a 25% rise in treatments requiring vascular closure devices in the past few years. With the aging population and lifestyle-related health issues such as obesity and diabetes contributing to the rise in cardiovascular diseases, healthcare providers are turning to vascular closure devices as a solution to improve patient outcomes and reduce recovery time. This surge in demand from the cardiovascular treatment segment is playing a key role in driving the market for vascular closing devices.
RESTRAINTS
"Regulatory challenges and approval delays"
Regulatory hurdles have remained a challenge in the vascular closing device market. In particular, approval delays from regulatory bodies have impacted the speed at which new technologies enter the market. Approximately 15% of companies in the vascular device sector report challenges in meeting regulatory requirements for new products, which can extend the time for product development and reduce the rate of market adoption. Despite this, ongoing efforts to streamline regulatory processes are expected to mitigate some of these challenges in the near future.
CHALLENGE
"High costs of advanced devices"
One of the most significant challenges for the market is the rising costs of advanced vascular closing devices. Approximately 20% of hospitals and outpatient centers report that high device costs are limiting their adoption, especially in lower-resource settings. Additionally, the expense of training healthcare professionals to effectively use these advanced technologies has contributed to an overall higher cost structure. This challenge is particularly pronounced in emerging markets, where cost constraints may hinder wider adoption of these devices.
Segmentation Analysis
The vascular closing device market is segmented based on type and application. The type segment includes disposable and reusable devices, while the application segment encompasses hospitals, clinics, and others. Disposable devices are favored for their convenience and hygiene, while reusable devices are preferred for their cost-effectiveness in the long term. In terms of applications, hospitals dominate the market due to the high volume of vascular procedures performed, followed by clinics and other medical settings. Each segment reflects the growing demand for vascular closure devices, driven by advances in technology and the increasing need for minimally invasive surgery options.
By Type
- Disposable: Disposable vascular closure devices are commonly used due to their single-use nature, minimizing the risk of cross-contamination and infection. Around 60% of the market share is driven by disposable devices, which are in high demand across hospitals and clinics for their convenience and sterility. The growing trend towards outpatient care has contributed to a 30% increase in the preference for disposable devices in recent years.
- Reusable: Reusable devices are more cost-effective over time, which makes them a preferred choice in settings where frequent usage is expected. Reusable devices account for approximately 40% of the market, with hospitals being the primary consumers due to the long-term savings they offer. Despite their initial higher cost, reusable devices have a longer lifespan, leading to a growing adoption rate of 20% annually in certain healthcare facilities.
By Application
- Hospital: Hospitals dominate the market for vascular closure devices, accounting for nearly 70% of the total market share. This high demand is driven by the large volume of cardiovascular procedures and angioplasty surgeries performed in hospitals. The growth in hospital-based vascular procedures has contributed to a 25% increase in the utilization of these devices within hospital settings.
- Clinic: Clinics make up about 20% of the market share, with a growing preference for vascular closure devices due to the rise in outpatient surgeries. The adoption rate of these devices in clinics has increased by 15%, driven by the need for more efficient and cost-effective solutions in outpatient care. As more patients seek outpatient care for various vascular conditions, the clinic sector is expected to show consistent growth in the coming years.
- Others: Other applications, which include ambulatory surgical centers and research facilities, account for the remaining 10% of the market. The adoption rate in these settings has increased by 12%, with ambulatory centers seeing a rise in demand for less invasive surgical options. The focus on improving patient recovery times and reducing complications is driving the growth in the "Others" category.
Regional Outlook
The regional dynamics of the vascular closing device market show diverse growth trends, with significant adoption in North America, Europe, Asia-Pacific, and the Middle East & Africa. North America holds the largest share of the market, driven by a high prevalence of cardiovascular diseases and well-established healthcare infrastructure. Europe follows closely, with a growing preference for minimally invasive surgeries. In Asia-Pacific, the market is experiencing rapid growth due to an expanding healthcare sector and increasing surgical procedures. Meanwhile, the Middle East & Africa presents untapped opportunities, especially in the developing healthcare infrastructure and growing adoption of advanced medical technologies.
North America
North America dominates the vascular closing device market, representing approximately 45% of the total market share. The region is characterized by a high incidence of cardiovascular diseases, driving demand for advanced vascular closure devices. Healthcare providers in the U.S. and Canada are increasingly adopting these devices due to their role in enhancing patient outcomes post-surgery. Approximately 35% of hospitals in North America have adopted vascular closure devices for their minimally invasive benefits, contributing to the steady growth of this market. Additionally, there is a focus on the development of next-generation devices, with North American companies leading the charge in terms of innovation and market penetration.
Europe
Europe holds the second-largest market share in the vascular closing device market, accounting for roughly 30%. The adoption of vascular closure devices is driven by an increase in the number of minimally invasive procedures performed across the region. Countries such as Germany, the UK, and France are major contributors, with a combined share of over 50% of the market within Europe. The growing emphasis on patient recovery times and reducing hospital stays is propelling the demand for vascular closing devices, with hospitals in Europe adopting these devices at a rate of around 20% annually. Furthermore, European healthcare providers are increasingly focusing on reducing procedural complications, which is further boosting the market.
Asia-Pacific
Asia-Pacific represents a rapidly growing region for vascular closing devices, accounting for about 15% of the market. This growth is primarily driven by the expanding healthcare infrastructure, especially in countries like China, India, and Japan. With an aging population and an increase in cardiovascular diseases, the demand for vascular closure devices in Asia-Pacific is expected to rise significantly. Approximately 25% of hospitals in major urban areas have begun incorporating these devices into their surgical procedures. Furthermore, the rising awareness about minimally invasive surgeries in both urban and rural areas is encouraging growth in this market segment.
Middle East & Africa
The Middle East & Africa region, though currently holding a smaller share of the vascular closing device market, is experiencing considerable growth. The market share in this region is approximately 10%, with an upward trend driven by increasing healthcare investments and advancements in medical technology. Countries like the UAE and Saudi Arabia are at the forefront of adopting advanced medical devices, including vascular closure systems, in their hospitals. Around 18% of healthcare facilities in this region have incorporated vascular closure devices in recent years, driven by the need for more efficient and safer procedures. Furthermore, as healthcare access improves in Africa, there is significant potential for market expansion.
LIST OF KEY Vascular Closing Device Market COMPANIES PROFILED
- Abbott
- Morris Innovative
- Transluminal Technologies
- Vivasure Medical Ltd
- Cardinal Health
Top companies having highest share
- Abbott: 35% Market Share
- Cardinal Health: 20% Market Share
Technological Advancements
The vascular closing device market has witnessed significant technological advancements in recent years, driving improvements in patient outcomes and procedural efficiency. The development of fully absorbable vascular closure devices has been one of the most notable advancements. These devices account for approximately 25% of the market share, offering a reduced need for removal and providing benefits in terms of reduced risk of complications. Additionally, the incorporation of biocompatible materials in vascular closing devices has seen a 30% increase in adoption, contributing to the reduction of post-procedural infections. Another major advancement is the use of minimally invasive techniques, which have gained popularity in more than 40% of vascular closure procedures globally. These technological advancements ensure faster recovery times for patients, improving overall satisfaction and driving market growth.
NEW PRODUCTS Development
Innovation in new product development has been a key driver in the vascular closing device market. In 2023 and 2024, over 20% of new product introductions were related to advancements in biocompatibility and design improvements. Companies have focused on designing more efficient and user-friendly devices, leading to an increase in the adoption rate of these products by healthcare providers. Approximately 18% of hospitals now use devices with advanced hemostasis control features, ensuring better blood flow management. Additionally, the launch of hybrid devices, which combine vascular closure technology with additional functionalities, has seen an uptake of around 15% in surgical applications. These new developments are expected to continue shaping the market, offering healthcare providers more options for patient-specific treatment plans.
Recent Developments
- Abbott: In 2023, Abbott launched an enhanced version of its vascular closure device, resulting in a 10% increase in market share. The device features improved design for faster and more reliable closure of femoral arteries.
- Morris Innovative: In 2024, Morris Innovative received approval for a new, fully absorbable vascular closure device. This innovation is expected to increase the adoption rate by 12% in the next two years.
- Transluminal Technologies: In mid-2023, Transluminal Technologies introduced a next-generation device that reduces complications in 15% of cases, making it highly preferred among healthcare providers.
- Vivasure Medical Ltd: In early 2024, Vivasure Medical Ltd expanded its product line to include devices for both large and small artery closures, boosting its market penetration by approximately 8%.
- Cardinal Health: In 2023, Cardinal Health upgraded its vascular closing device to improve its efficiency in achieving hemostasis, which led to a 9% increase in its usage by hospitals.
REPORT COVERAGE
The report on the vascular closing device market provides a comprehensive analysis of trends, dynamics, and forecasts for the market, focusing on segmentation, regional outlook, technological advancements, and competitive landscape. It includes key data on market share by device type, such as absorbable and non-absorbable devices, along with insights into product development and innovations. The report also emphasizes market trends, such as the shift towards minimally invasive procedures, which accounts for over 40% of all vascular closure device uses. Additionally, it covers regional insights, with North America contributing to 45% of the global market share. It also highlights the competitive positioning of major players like Abbott, Cardinal Health, and Morris Innovative, detailing their market strategies and recent product launches, which are shaping the industry's growth.
Report Coverage | Report Details |
---|---|
By Applications Covered | Hospital, Clinic, Others |
By Type Covered | Disposable, Reusable |
No. of Pages Covered | 78 |
Forecast Period Covered | 2025 to 2033 |
Growth Rate Covered | CAGR of 2.9% during the forecast period |
Value Projection Covered | USD 1380.1 billion by 2033 |
Historical Data Available for | 2020 to 2023 |
Region Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
Countries Covered | U.S. ,Canada, Germany,U.K.,France, Japan , China , India, South Africa , Brazil |