At 7.0% CAGR, Europe Vascular Closure Device Market is Projected to be Worth US$ 621.74 Million by 2030, Says Business Market Insights
According to Business Market Insights' research, the Europe vascular closure device market was valued at US$ 362.63 million in 2022 and is expected to reach US$ 621.74 million by 2030, registering a CAGR of 7.0% from 2022 to 2030. Increasing prevalence of cardiovascular diseases and strategic activities by manufacturers are among the critical factors attributed to the Europe vascular closure device market expansion.
Cardiovascular diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction are the major causes of mortality in the world. As per data provided by the World Health Organization (WHO), cardiovascular diseases cause nearly 17.9 million deaths every year, which makes it a leading cause of mortality among all noncommunicable diseases, followed by cancer, chronic respiratory diseases, and diabetes (including deaths associated with renal disorders). According to the World Heart Federation, high cholesterol causes 4.4 million deaths yearly, and ?24% of cardiovascular-related deaths are associated with high low-density lipoprotein (LDL) levels. Vascular closure devices (VCDs) offer a new way to enhance patients' comfort and ambulation after invasive cardiovascular treatments via femoral arterial access. Vascular closure devices are used in different therapeutic approaches to provide easy, quick, and reliable hemostasis. In the US, femoral arterial access is the most often used vascular access technique for percutaneous coronary intervention (PCI) and coronary angiography. Nevertheless, there has been an increase in traction toward cardiac catheterization and percutaneous coronary intervention (PCI) via radial access in recent years. Several femoral artery closure devices have been developed to shorten vascular closure times, with variable rates of vascular complications observed in clinical trials. Vascular closure devices (VCDs) have emerged as an effective alternative to traditional mechanical compression procedures performed after cardiac catheterization. VCDs reduce the time of hospital stays, speed up patient mobilization and shorten the time needed to achieve hemostasis. Thus, the Europe vascular closure device market is growing notably with the increasing prevalence of cardiovascular diseases.
On the contrary, risk of infection related to vascular closure devices hampers the growth Europe vascular closure device market.
Based on product type, the Europe vascular closure device market is segmented into active approximators, passive approximators, and external hemostatic devices. The passive approximators segment held 69.0% share of the Europe vascular closure device market in 2022, amassing US$ 250.20 million. It is projected to garner US$ 433.99 million by 2030 to expand at 7.1% CAGR during 2022-2030. The active approximators segment is further segmented into suture mediated device and staple clips mediated device. The passive approximators segment is further segmented into sealant and gel based, compression devices, and collagen plug.
By access, the Europe vascular closure device market is bifurcated into femoral access and radial access. The femoral access segment held 78.0% share of the Europe vascular closure device market in 2022, amassing US$ 282.88 million. It is projected to garner US$ 481.69 million by 2030 to expand at 6.9% CAGR during 2022-2030.
By procedure, the Europe vascular closure device market is segmented into interventional cardiology, interventional radiology, and endovascular surgery. The interventional cardiology segment held 61.7% share of the Europe vascular closure device market in 2022, amassing US$ 223.65 million. It is projected to garner US$ 380.17 million by 2030 to expand at 6.9% CAGR during 2022-2030.
In terms of end user, the Europe vascular closure device market is categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment held 59.2% share of Europe vascular closure device market in 2022, amassing US$ 214.57 million. It is projected to garner US$ 367.94 million by 2030 to expand at 7.0% CAGR during 2022-2030.
Based on country, the Europe vascular closure device market is segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Rest of Europe held 26.5% share of Europe vascular closure device market in 2022, amassing US$ 96.18 million. It is projected to garner US$ 163.00 million by 2030 to expand at 6.8% CAGR during 2022-2030.
Key players operating in the Europe vascular closure device market are Abbott Laboratories, Becton Dickinson and Co, Cardinal Health Inc, Cordis Corp, ENDOCOR GmbH & CO KG, Haemonetics Corp, Medtronic Plc, Teleflex Inc, and Vasorum Ltd, among others.
Contact UsPhone: +16467917070Email Id: sales@businessmarketinsights.com
