Vascular Closure Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Passive Approximators, Active Approximators, External Haemostatic Devices), By Access (Radial, Femoral Vascular Closure Devices), By Application (Diagnostic, Therapeutic Intervention), By End User (Hospitals & Clinics, Specialty Centres, Ambulatory Surgical Centres, Others) and Region

Vascular Closure Devices Market size was valued at US$ 1,267 million in 2023 and is poised to grow at a 6.36% CAGR from 2019 to 2023. It is expected to reach around US$ 1,999 million by 2030, increasing at a CAGR of 6.76%. The Vascular closure device is a medical device used to establish haemostasis, the stoppage of bleeding following catheterization procedures or other vascular operations. These devices are critical for securing the puncture site in the blood vessel where a catheter was put, lowering the risk of bleeding and consequences. Catheterization procedures, such as angiography or angioplasty, involve inserting a catheter through the skin and into a blood vessel to get access to the cardiovascular system. After performing these treatments, it is critical to close the puncture site to reduce bleeding and shorten the patient's recovery period. Vascular closure devices occur in a variety of forms, including mechanical, plug-based, and suture-based devices, which provide a quick and effective way to establish haemostasis while eliminating the need for extended manual compression or other traditional closure procedures.

The rising prevalence of cardiovascular disorders, as well as the increased use of diagnostic and interventional procedures such as angiography and angioplasty, all contribute to the demand for vascular closure devices. Innovations in VCD technologies, such as the development of novel materials and enhanced closing mechanisms, are driving market expansion. Devices that improve safety, efficacy, and patient comfort are gaining acceptance.

Vascular Closure Devices Market Key Developments:  

• On Aug. 29, 2023, Haemonetics Corporation, a global medical technology company announced that patients in Germany have been treated for the first time with their VASCADE MVP® Venous Vascular Closure system. This is the first time the VASCADE system portfolio, which is widely utilized in hospitals across the United States, has been employed in a European country.
• On Sept. 12, 2022, Haemonetics Corporation, a global medical technology company, announced the CE mark approval of its VASCADE® vascular closure and VASCADE MVP® venous vascular closure systems.