Objectives of This Study:

The report provides an overall understanding of the Vascular Closure Systems Market. In this report, the market is segmented on the basis of type, access, procedures, and geographies. The type segment includes passive approximators, active approximators, and external hemostasis devices.

Among these type segments, the passive approximators segment is expected to account for the largest share of the vascular closure devices market in 2017. The access segment includes femoral access and radial access. The procedure segment includes interventional cardiology and interventional radiology/vascular surgery. The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Major Growth Boosters:

The major drivers for Vascular Closure Devices Market include the large number of approvals for vascular closure devices, the high prevalence of cardiovascular diseases, high prevalance of obesity, and increasing focus of market players on large-bore vascular closure devices.

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Research Methodology Followed for This Research:

A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each subsegment and the relative differences in growth rates.

Geographic analysis reveals that the North American segment is expected to account for the largest share of the market in 2017, owing to the increasing prevalence of cardiovascular diseases in the U.S., growing trend of one-day surgery for vascular procedures, and the increasing number of research and clinical trials for vascular closure devices.

Expected Revenue Growth:

The global vascular closure devices market is expected to reach USD 984.6 Million by 2022 from USD 704.8 Million in 2017, at a CAGR of 6.9%.

Global Leaders:

The Vascular Closure Systems Market is dominated by Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), and Cardiva Medical Inc. (U.S.).

Other prominent players in the market include Cardiva Medical Inc. (U.S.), Medtronic PLC (Ireland), Morris Innovative, Inc. (U.S.), Essential Medical, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland).

An analysis of the market developments between 2013 and 2017 suggests that product approvals and acquisitions were the most important growth strategies employed by market leaders in this period.

Other growth strategies adopted by players in Vascular Closure Devices Market include funding activities, partnerships, collaborations, mergers, joint ventures, and agreements. These strategies were adopted by the major players, such as Cardiva Medical Inc. (U.S.), Medtronic PLC (Ireland), Morris Innovative, Inc. (U.S.), Essential Medical, Inc.(U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland) between 2013 and 2017 to enhance their geographic presence and increase their customer base.

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