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Vascular Closure Device Market: 2018 Competitive Analysis Key Trends Driving Industry Revenue growth by -2026

Vascular closure devices are medical devices used in sealing puncture of the femoral artery in patients who have undergone diagnostic angiography procedures or interventional procedures. Vascular closure devices are alternative to manual compression method, manually compression takes longer time, depending on the size of the plastic sheath placed in the artery. Vascular closure devices provide immediate sealing of the femoral artery access site, which is not the case with mechanical or manual compression.

Market Dynamics

Increasing demand for diagnostic angiography procedures due to increasing prevalence of Coronary heart disease (CHD) is expected to increase demand for vascular closure device in near future. For instance according to the research published in Centers for Disease Control and Prevention (CDC) in 2017, Coronary heart disease (CHD) is one common type of heart disease, which causes about 370,000 deaths in U.S. annually. Furthermore the launch of innovative vascular closure devices in market is also expected create lucrative environment for market growth. For instance in 2014, AccessClosure Inc. launched Mynx Ace vascular closure device at annual scientific session of the American College of Cardiology in Washington, DC. Furthermore, in 2017, Vasorum Ltd. launched Celt ACD second generation vascular closure device in the U.S. market.

Increasing demand for angiography due to increasing prevalence of cardiovascular diseases is expected to derive growth for vascular closure devices market

Vascular closure device are primarily used for vascular hemostasis after puncture of the femoral artery during angiography. Angiography is an imaging technique used to visualize interior of blood vessels including artery. The technique has been increasingly used for finding out if the arteries are blocked, closed or narrowed. According to research published by World Health Organization (WHO) in 2017, about 17.7 million people died from cardiovascular diseases in 2015, which is about 31% of all global deaths. Among these death around 7.4 million death were due to coronary heart disease and 6.7 million were due to stroke. As the prevalence of the cardiovascular disease is increasing, the demand for angiography, a diagnosis technique, is expected to increase which in turn will lead to growth in global vascular closure devices market.

This market has witnessed few recalls, which has proved to be major restraining factor for market growth. For instance, in 2017 Abbott Vascular recall 66 lots of the StarClose SE Vascular system due to difficulty in deploying the clip.

Furthermore, vascular closure devices manufacturing companies have been successful in raising funds from investors to expand business. In 2016, Vivasure Medical, a company developing a novel bioabsorbable technology for percutaneous vessel closure, has received Series C funding of US$ 18.3 Mn. This funding round was led by Life Sciences Partners (LSP) of The Netherlands, investing from its LSP Health Economics Fund, and co-led by Evonik Venture Capital.

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Key players operating in the global vascular closure devices market include Abbott Laboratories, Medtronic Plc, Transluminal Technologies LLC, Cardinal Health, Inc., Cardiva Medical, Inc., Terumo Corporation, Essential Medical, Inc., Vascular Closure Systems, Inc., Vivasure Medical Ltd., Vasorum Ltd., and Morris Innovative Inc.

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