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Vascular closure devices are required for the procedures following catherization to achieve hemostasis of the small hole created in the artery. Arterial closure devices (ACDs) are the most preferred vascular closure devices introduced in 1995 to reduce bed rest, time, pain, and discomfort associated with the mechanical compression technique. This helps in reduction of vascular complications and also decreases the time to hemostasis and ambulation. Mechanical compression technique was considered the gold standard before the introduction of vascular closure devices. Vascular closure devices are widely used in diagnostic and interventional procedures due to advantages such as reduced hemostasis and ambulation and increased patient comfort over the mechanical compression technique.

An arterial closure device (ACD) along with a deployment tool comprises an arterial closure system. ACD is deployed within the contacting site vessel with the help of deployment tool. Arterial closure devices (ACDs) are of two types: active closure devices and passive closure devices. Active closure devices include suture devices, collagen plug devices, and clips. Passive closure devices are helpful for providing mechanical compression with enhanced hemostasis. These include hemostasis pads and compression devices such as FemoStop, Boomerang, Safeguard, Chito-Seal, and D-Stat.

Increasing geriatric population due to advancement in health care techniques, rising need of endovascular procedures, reduced complications with the use of ACDs, reimbursement of diagnostic procedures involved, and comfort to the patients are the factors driving the arterial closure devices (ACDs) market. However, less adoption in developing countries, increased cost of implantable arterial devices, and high incidence of leg ischemia are the factors restraining the market.

The arteriotomy closure devices (ACDs) market has been segmented based on type of device, application, and region. In terms of type of device, the market has been segmented into passive closure devices and active closure devices. Passive closure devices include devices that assist in the mechanism of compression such as clamps/tamping devices, assisted coagulation, and sealants. Active closure devices include devices involved in immediate closure including collagen plug, sutures, polyglycolic acid devices, and extravascular clips. Collagen plug devices can be further categorized into angioseal and vasoseal. In terms of application, ACDs can be segmented to be used for procedures carried out by femoral arterial access and for procedures carried out by transradial arterial access. Femoral arterial access is the most widely used technique; however, increased interest in transradial arterial access has been observed as it reduces bleeding complications.

Geographically, the global ACDs market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the leading market for arteriotomy closure devices due to advancement in technology, involvement of diagnostic technique as reimbursement and increase in the need of vascular procedures. However, the ACDs market in some developing countries in Asia Pacific and Africa are likely to witness sluggish growth due to lack of health care advancements and adoption of complicated expensive techniques.

Key market players in the arteriotomy closure devices market include Abbott Vascular, Cardiva Medical, Arstatis, Cardinal Health, St. Jude Medical, Morris Innovative Research, and Scion BioMedical.

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
  • Europe
  • 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.

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Arteriotomy Closure Devices Market