Vascular Closure Devices Market SWOT Analysis Size & Share - Industry Trend and Forecast 2027

• • Compliance with New EU-MDR May Lead to Shortage of Medical Devices amidst COVID-19 Crisis

    The European Parliament recently announced the postponement of the implementation of the new Medical Device Regulation (MDR) by a year, due to the unprecedented COVID-19 (coronavirus) outbreak. This will help medtech companies in the vascular closure devices market to stabilize their operations, owing to the debilitating consequences of the pandemic. This postponement is to come in practice after individual member states share their approval. However, the COVID-19 crisis has slowed down innovations in the vascular closure devices market and postponement of the regulations is anticipated to affect the growth rate of the market.

    Given the current pressure on the national health authorities, popular news outlets state that compliance with new regulations could create a shortage and delay in the supply of medical devices in Europe. Hence, the postponement of the new Medical Device Regulation (MDR) will help medical device manufacturers to meet urgent demands in healthcare facilities caused due to the COVID-19 outbreak.

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    Biomechanical Vascular Closure Devices Overcome Limitations in Closure of Large Bore Femoral Arteriotomies

    Specialty-focused solutions are acquiring prominence in the vascular closure devices market. For instance, leading supplier of specialty medical devices for critical care and surgery Teleflex, announced to showcase their MANTA® vascular closure device at the 2019 PCR London Valves-a cross-disciplinary course being held in London, UK Specialty-focused solutions are helping healthcare providers to improve the health and patient quality of life worldwide. Companies are increasing efforts to develop products that simplify complex procedures and overcome barriers associated with common procedural challenges.

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    Novel biomechanical vascular closure devices (VDCs) are boosting the credibility of companies in the market landscape. These devices are being pervasively used by interventionalists worldwide for the closure of large bore femoral arteriotomies. Companies in the vascular closure devices market are designing products that seal arterial puncture holes post percutaneous coronary intervention (PCI) catheter-based vascular procedures. As such, the revenue of peripheral vascular interventions is anticipated for robust growth during the forecast period.  

    Devices with Biocompatible Stainless Steel Implants Gain Prominence in Intra-Arterial Procedures

    Companies in the vascular closure devices market are investing in capacity additions to manufacture products used to close femoral arteriotomies following intra-arterial procedures. This explains why cardiac interventions dictate the highest revenue among all applications in the vascular closure devices market, since these devices are being increasingly used in peripheral and coronary angioplasty, owing to the high prevalence of cardiovascular diseases worldwide. As such, the market is estimated to reach a value of ~ US $ 1 Bn by the end of 2027.

    Other important applications demanding vascular closure devices are other intra-arterial procedures such as  arterial stents , balloon angioplasty, and diagnostic or interventional catheterization procedures. Hence, companies in the vascular closure devices market are increasing their production capabilities to manufacture biocompatible stainless steel implants. They are increasing R&D to design implants that can be applied both inside and outside of the puncture site in the femoral artery.

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    Improved Suture-based Techniques Aid in Challenging Procedures of Final Vascular Closures

    Suture-based closure devices are being adopted by healthcare professionals for percutaneous closure of large-bore arteriotomies. Such advancements are boosting the growth for the vascular closure devices market, which is predicted to grow at a robust CAGR of ~ 7% during the forecast period. However, suture-based closure devices are cumbersome and are experiencing a downtick, owing to their long learning curve and increased risk of complications. Hence, companies in the vascular closure devices market are increasing their efforts to design devices that are used in parallel or angulated configuration.

    Prominent medical devices and healthcare company Abbott is increasing awareness about Perclose ProGlide-an improved suture-based vascular closure device, which is being frequently used in large-bore vessel closures. Advanced vascular closure devices are performing in challenging procedures such as suture knots that are advanced to the vessel wall for final vascular closures. Recent trends include single-device deployment in hybrid closure techniques. On the other hand, dedicated large-bore closure devices are overcoming limitations of surgical and suture-based closure techniques.

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