Large Bore Vascular Closure Device Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032
The Global Large Bore Vascular Closure Device Market Size accounted for USD 928.3 Million in 2023 and is estimated to achieve a market size of USD 1,827.9 Million by 2032 growing at a CAGR of 7.9% from 2024 to 2032.
Bore Vascular Closure Device Market (Product: Passive Closure Devices, and Active Closure Devices; Application: Femoral Arterial, and Transradial Arterial)
Large Bore Vascular Closure Device Market Highlights
- Global large bore vascular closure device market revenue is poised to garner USD 1,827.9 million by 2032 with a CAGR of 7.9% from 2024 to 2032
- North America large bore vascular closure device market value occupied around USD 343.5 million in 2023
- Asia-Pacific large bore vascular closure device market growth will record a CAGR of more than 8.6% from 2024 to 2032
- Among product, the active closure devices sub-segment generated noteworthy revenue in 2023
- Based on application, the femoral arterial sub-segment generated significant large bore vascular closure device market share in 2023
- Increasing clinical trials and research in vascular closure technologies open doors for advanced solutions is a popular large bore vascular closure device market trend that fuels the industry demand
A large bore vascular closure device is medical equipment that seals large puncture sites in blood arteries, especially following treatments that require large catheter insertions, such as endovascular surgery or structural heart surgeries. These devices are crucial in minimizing excessive bleeding and promoting speedier recovery by securely shutting access sites in arteries, which are frequently produced when using devices larger than 8 French (F) in diameter. Traditional manual compression methods are typically unsuccessful or time-consuming for large bore punctures, hence these closure devices are critical for reducing problems such as hematomas. Large bore closure devices are intended to offer both mechanical closure and biological sealing, resulting in safe hemostasis and eliminating the requirement for prolonged bed rest or hospitalization. Their use improves patient outcomes by allowing for earlier ambulation and reduces the risk of postoperative complications.
Global Large Bore Vascular Closure Device Market Dynamics
Market Drivers
- Growing prevalence of cardiovascular diseases drives the demand for large bore vascular closure devices
- Increasing adoption of minimally invasive procedures fuels market growth
- Technological advancements enhance the efficiency and safety of closure devices
- Expanding geriatric population increases the need for vascular interventions
Market Restraints
- High cost of large bore vascular closure devices limits their widespread adoption
- Complications such as infection and device failure hinder market growth
- Stringent regulatory approvals slow down the product launch process
Market Opportunities
- Rising demand in emerging economies creates new growth avenues
- Development of bioabsorbable closure devices offers innovative market prospects
- Collaborations between hospitals and manufacturers to improve patient outcomes expand market reach
Large Bore Vascular Closure Device Market Report Coverage
| Market | Large Bore Vascular Closure Device Market |
| Large Bore Vascular Closure Device Market Size 2022 |
USD 928.3 Million |
| Large Bore Vascular Closure Device Market Forecast 2032 | USD 1,827.9 Million |
| Large Bore Vascular Closure Device Market CAGR During 2023 - 2032 | 7.9% |
| Large Bore Vascular Closure Device Market Analysis Period | 2020 - 2032 |
| Large Bore Vascular Closure Device Market Base Year |
2022 |
| Large Bore Vascular Closure Device Market Forecast Data | 2023 - 2032 |
| Segments Covered | By Product, By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Cardinal Health, Inseal Medical, Medeon Biodesign, Vascular Solutions, Vasorum, Transluminal Technologies, Abbott Vascular, Morrris Innovative, Essential Medical, and St. Jude Medical. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Large Bore Vascular Closure Device Market Insights
Large bore vascular closure device are used to provide rapid hemostasis, and minimize the ambulation time in discharge. Over the past few years, there is significant increase in the prevalence of the cardiovascular diseases, which has intensified the demand for the various management devices. The global Large bore vascular closure device market is majorly driven by increasing prevalence of the cardiovascular diseases and diabetes across the globe.
A number of diseases and lifestyle are responsible for causing the diseases. Obesity and overweight among the major factors for these diseases and disorder. Increasing number of people suffering from obesity and changing lifestyle of the people has boosted the growth of the large bore vascular closure device market. Additionally, increased the demand for the better devices, increasing per capita income, rising government support, and development in the technology have supported the growth of the market during the forecast period. However, high cost of the devices may restrain the growth of the market.
The global large bore vascular closure device market is expected to grow at a CAGR of over 7.9%. Continuously rising patient population and development in the technology have increased driven the growth of the market. Additionally, continuous innovations in the products and availability of presence medical treatment have supported the market growth. Large bore vascular closure device includes product types such as passive closure devices and active closure devices. Over the last few decades, the large bore vascular closure device market has considerably grown both in terms of product development and usage.
Large Bore Vascular Closure Device Market Segmentation
The worldwide market for large bore vascular closure device is split based on product, application, and geography.
Large Bore Vascular Closure Device Market By Product
- Passive Closure Devices
- Active Closure Devices
According to large bore vascular closure device industry analysis, the active closure devices segment dominates the market. This is due to its superior capacity to deliver fast and dependable hemostasis following vascular treatments, especially in large bore access locations such as endovascular and cardiovascular surgeries. Active closure devices use mechanical means, such as clips or sutures, to actively seal the puncture site, reducing problems such as bleeding and speeding up recovery time.
Active closure devices are preferred by healthcare providers for their precision, efficiency, and adaptability to a wide range of procedural needs. These gadgets also enable faster post-procedure patient movement, resulting in improved patient satisfaction and shorter hospital stays. The fast developments in the design and technology of active closure devices, including higher safety profiles, have increased their market dominance. As a result, this sector continues to dominate the large bore vascular closure devices market, driven by rising demand for efficient, safe, and minimally invasive vascular closure options.
Large Bore Vascular Closure Device Market By Application
- Femoral Arterial
- Transradial Arterial
In the market for large bore vascular closure devices, the femoral arterial sector leading. This dominance is mostly owing to the widespread use of femoral arterial access in high-risk interventional procedures such as transcatheter aortic valve replacements (TAVR), endovascular aneurysm repairs (EVAR), and other cardiovascular therapies. Because of its larger size and accessibility, large bore catheters are typically placed through the femoral artery, necessitating the use of closure devices to enable rapid and successful hemostasis following the surgery.
Despite the growing popularity of transradial access for simpler procedures, femoral access remains the preferred method of sophisticated and large-bore vascular surgeries among healthcare experts. Furthermore, femoral arterial procedures have a higher risk of bleeding, making reliable closure techniques critical for patient safety and success. The segment's dominance is bolstered by technological advancements in closure devices built exclusively for femoral artery applications, which provide lower complication rates, faster recovery periods, and more procedural efficiency.
Large Bore Vascular Closure Device Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Large Bore Vascular Closure Device Market Regional Analysis
In terms of large bore vascular closure device market analysis, North America is expected to dominate the large industry owing to the presence of huge population suffering from cardiovascular diseases and diabetes, high awareness among the people, and huge per capita income. According to the World Health Organization, around 30.1 million American were suffering from diabetes.
Europe accounts for the second leading position in the market followed by the Asia Pacific. Asia Pacific industry expected to be the fastest growth during the large bore vascular closure device market forecast period. Huge diabetic and obese patients and presence of huge population base has supported the growth of the large bore vascular closure devices market in this region. However, LAMEA region is expecting a steady growth during the large bore vascular closure device industry forecast period.
Large Bore Vascular Closure Device Market Players
Some of the top large bore vascular closure device companies offered in our report includes Cardinal Health, Inseal Medical, Medeon Biodesign, Vascular Solutions, Vasorum, Transluminal Technologies, Abbott Vascular, Morrris Innovative, Essential Medical, and St. Jude Medical.
Frequently Asked Questions
How big is the large bore vascular closure device market?
The large bore vascular closure device market size was valued at USD 928.3 million in 2023.
What is the CAGR of the global large bore vascular closure device market from 2024 to 2032?
The CAGR of large bore vascular closure device is 7.9% during the analysis period of 2024 to 2032.
Which are the key players in the large bore vascular closure device market?
The key players operating in the global market are including Cardinal Health, Inseal Medical, Medeon Biodesign, Vascular Solutions, Vasorum, Transluminal Technologies, Abbott Vascular, Morrris Innovative, Essential Medical, and St. Jude Medical.
Which region dominated the global large bore vascular closure device market share?
North America held the dominating position in large bore vascular closure device industry during the analysis period of 2024 to 2032.
Which region registered fastest CAGR from 2024 to 2032?
Asia-Pacific region exhibited fastest growing CAGR for market of large bore vascular closure device during the analysis period of 2024 to 2032.
What are the current trends and dynamics in the global large bore vascular closure device industry?
The current trends and dynamics in the large bore vascular closure device industry include growing prevalence of cardiovascular diseases drives the demand for large bore vascular closure devices, increasing adoption of minimally invasive procedures fuels market growth, technological advancements enhance the efficiency and safety of closure devices, and expanding geriatric population increases the need for vascular interventions.
Which application held the maximum share in 2023?
The femoral arterial application held the notable share of the large bore vascular closure device industry.
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