The major factors attributing to the growth of the arteriotomy closure devices market are increasing incidences of vascular disorders and rising geriatric population. The global increase in the incidence of vascular diseases is due to a sedentary lifestyle, unhealthy diet, and smoking. Cardiovascular diseases include coronary heart disease, stroke, high blood pressure, arterydiseases,etc. According to the American Heart Association, in 2017, around 43% of the deaths occurs due to coronary heart disease in the United States. Manual compression has been considered the traditional technique to achieve closure of the arterial access site. Patient comfort and satisfaction are the important factors that result in wide adoption of arteriotomy closure devices.
Key Market Trends
Femoral Arterial Access is Highly Preferred in the Application Segment
The vast majority of procedures are performed with Femoral arterial access. However, increased interest has been observed for the radial approach due to the significant reduction in bleeding complications.
Vascular complications increase depending on the severity of the procedure. In order to reduce these complications, ACDs have been developed as an alternative to manual compression. The use of Arteriotomy Closure Devices is recommended to patients undergoing acute myocardial infarction, neurovascular interventions and endovascular procedures for peripheral vascular diseases. With the increasing incidence of vascular disorders as well as the development of innovative products, the growth of the market is expected to be augmented.
North America Dominates the Market and Expected to do same in the Forecast Period
North America will witness the highest growth throughout the forecast period. This is due to the increasing prevalence of lifestyle disease, rising aging population and growing demand for newly introduced devices and innovative technologies. According to American College of Cardiology's National Cardiovascular Data Registry (ACC-NCDR, 2018), less than 2% of invasive cardiovascular procedures are performed from the radial site, which indicates that the common femoral artery remains the most common arterial access site in the United States. In the North America region, the United States holds the largest market share.
The Arteriotomy Closure Devices market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Some of the major players of the market are Abbott Laboratories, Terumo Corporation, Cardinal Health, Cardiva Medical, Merit Medical, and Medtronic PLC, Teleflex, Vasorum Ltd, Vivasure Medical and Marine Polymer Technologies Inc. are among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support