Vascular Closure Device Market Size, Share, Growth Analysis, By Product Type(Active Approximators and Passive Approximators), By Access(Femoral Access and Radial Access), By Region - Industry Forecast 2024-2031

In the year 2022, North America held a significant share in the vascular closure device market, recording revenues surpassing USD 689 million. The region is poised for sustained growth until 2032, primarily driven by the heightened prevalence of cardiovascular diseases. The expanding population of elderly individuals, who exhibit a greater susceptibility to cardiovascular ailments, has prompted the establishment of advanced healthcare infrastructure in the region. Furthermore, the presence of extensive reimbursement coverage for medical procedures acts as a compelling incentive for both healthcare professionals and patients. This, in turn, encourages the adoption of innovative treatment alternatives and contributes substantially to the overall progress and advancement of the market.

Asia Pacific is anticipated to exhibit rapid growth throughout the forecast period. Anticipated as the region with the most rapid growth over the next seven years, Asia Pacific is propelled by the emerging economies of China and India. The presence of untapped areas and unmet patient needs has garnered substantial attention from industry players, becoming pivotal factors fueling growth in this dynamic region. Key players from various regions are strategically expanding their product portfolios to establish a foothold in untapped territories, thereby contributing to the overall growth trajectory in Asia Pacific.