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.
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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.
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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
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