Global Arterial Incision Closure Device Market: Introduction
Arterial incision closure devices are widely used to achieve hemostasis after procedures requiring percutaneous common femoral artery (CFA) puncture. No consensus has been seen regarding the benefits of arterial incision closure device, including potential reduction in procedure time, length of hospital stay, or time to patient ambulation. The process of closing the artery can lead to complications such as damage to the artery and bleeding, ranging from minor to life?threatening. Pressure applied to the artery also affects the nearby vein and may cause blood clots, which is called deep vein thrombosis. Arterial incision closure devices are designed to close the hole and stop bleeding. The risk of hemorrhagic complications is higher if the device is deployed in a vessel with unfavorable characteristics such as dense calcifications or at an inappropriate anatomic location (above inguinal ligament). Other factors including increased age, interventional procedure, and end-stage renal disease, can increase the risk of bleeding. Angiography is the imaging of blood vessels that appear on live X-ray images or pictures. This helps show abnormalities or to guide the treatment of disease. Arterial access is commonly carried out through the femoral artery, which is a large artery running past the region of the groin. The device should provide immediate sealing of the arterial access site.
Are you a Start-up willing to make it Big in the Business? Grab an Exclusive PDF Brochure of Arterial Incision Closure Device Market Report
Key Drivers of Global Arterial Incision Closure Device Market
High Prevalence of Obesity
According to the World Health Organization (WHO), worldwide prevalence of obesity has nearly tripled since 1975. In 2016, more than 1.9 billion adults, 18 years and older, were overweight; of these, over 650 million were obese. 39% of adults aged 18 years and over were overweight in 2016, and 13% were obese.
High Prevalence of Cardiovascular Diseases
According to the WHO, cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. CVDs are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Individuals at risk of CVD may demonstrate raised blood pressure, glucose, and lipids as well as overweight and obesity.
North America to Account for Major Share of Global Arterial Incision Closure Device Market
- North America is projected to account for major share of the global arterial incision closure device market during the forecast period. The market in the region is anticipated to grow at a rapid pace in the next few years due to increase in prevalence of cardiovascular disorders, growing trend of one-day surgery for vascular procedures, and new digital technologies and the availability of developed health care infrastructure. Europe is expected to be the second largest market during the forecast period.
- The arterial incision closure device market in Asia Pacific is likely to expand at a high CAGR during the forecast period. This can be attributed to increase in geriatric population in the region.
Stuck in a Neck-to-Neck Competition with Other Brands? Request a Custom Report on “Arterial Incision Closure Device Market” here
Key Players Operating in Global Arterial Incision Closure Device Market
The global arterial incision closure device market is highly consolidated, with the presence of a small number of key players. Leading players operating in the global arterial incision closure device market are:
- Cardiva Medical
- Cardinal Health
- Terumo Corporation
- Morris Innovative, Inc.
- Medtronic plc
- Essential Medical, Inc.
- Merit Medical Systems, Inc.
- TZ Medical, Inc.
- Transluminal Technologies LLC
- Vascular Closure Systems, Inc.
- Vivasure Medical Ltd.
Global Arterial Incision Closure Device Market: Research Scope
Global Arterial Incision Closure Device Market, by Type
- Passive Closure Devices
- Active Closure Devices
Global Arterial Incision Closure Device Market, by Application
- Femoral Arterial Access
- Transradial Arterial Access
Global Arterial Incision Closure Device Market, by End-user
- Hospitals & Clinics
- Specialty Centers
- Ambulatory Surgery Centers
Global Arterial Incision Closure Device Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.