Global Large Bore Vascular Closure System Market Size By Type (Active Closure Devices, Passive Closure Devices), By Application (Femoral Arterial, Transradial Arterial), By Region, And Segment Forecas...

lobal Large Bore Vascular Closure System Market Report Description

The Global Large Bore Vascular Closure System Market was valued at USD 930 million in 2023 and is projected to reach USD 1.89 billion by 2031, growing at a CAGR of 9.3% during the forecast period from 2023 to 2031. This growth is primarily driven by the rising volume of large-bore interventional procedures, increasing adoption of minimally invasive surgeries, and growing demand for faster hemostasis and patient mobility post-procedure. Large bore vascular closure systems (VCS) are crucial in interventional cardiology, structural heart procedures, and endovascular interventions, offering advantages in safety, time efficiency, and improved patient outcomes.

Drivers:

Rising Prevalence of Cardiovascular Diseases:

An increasing incidence of cardiovascular diseases globally has resulted in a surge in large-bore procedures such as TAVR (Transcatheter Aortic Valve Replacement) and EVAR (Endovascular Aneurysm Repair), fueling demand for effective closure systems.

Technological Advancements in Closure Devices:

Innovations such as suture-mediated and collagen plug-based closure devices have enhanced precision and minimized complications, propelling market growth.

Patient Preference for Minimally Invasive Techniques:

Minimally invasive surgeries that allow quicker recovery and shorter hospital stays have led to greater adoption of vascular closure systems, particularly in high-volume cardiac centers.

Restraints:

High Cost of Devices:

Advanced large bore closure systems are often cost-prohibitive for smaller hospitals, particularly in developing regions, potentially limiting market penetration.

Complications in Specific Patient Populations:

Patients with calcified arteries or peripheral vascular disease may face a higher risk of complications, affecting the efficacy of closure systems and their broader adoption.

Opportunity:

Emerging Markets and Healthcare Infrastructure Expansion:

Countries in Asia-Pacific and Latin America are witnessing significant investment in healthcare infrastructure, creating new growth avenues for vascular closure system manufacturers.

Growing Demand for Ambulatory Surgery Centers (ASCs):

The rise of ASCs that perform outpatient procedures is boosting the demand for fast-acting and reliable vascular closure systems to enable same-day discharge and reduce readmission rates.

Market by System Type Insights:

Based on system type, the Suture-Based Vascular Closure Devices segment dominated the market in 2023, owing to its wide use in structural heart procedures and superior outcomes in large bore access site management. However, the Plug-Based Vascular Closure Devices segment is projected to grow at the fastest rate, driven by increasing preference for fully absorbable and user-friendly devices that reduce operator dependency.

Market by End-use Insights:

By end-use, Hospitals held the largest market share in 2023 due to the high volume of cardiovascular and endovascular procedures performed in inpatient settings. The Ambulatory Surgical Centers segment is expected to witness significant growth during the forecast period, as these centers increasingly adopt advanced closure systems to streamline patient throughput and minimize post-operative complications.

Market by Regional Insights:

North America dominated the market in 2023, driven by high procedural volumes, favorable reimbursement frameworks, and the presence of key market players. Meanwhile, Asia-Pacific is forecasted to witness the highest growth rate from 2023 to 2031 due to rising cardiovascular disease prevalence, increased healthcare access, and growing investments in cardiac care infrastructure.

Competitive Scenario:

Key players operating in the global large bore vascular closure system market include:

Abbott Laboratories

Terumo Corporation

Teleflex Incorporated

Cardinal Health

Cardiva Medical, Inc. (acquired by Haemonetics Corporation)

Morris Innovative, Inc.

Medtronic plc

These companies are actively engaging in strategic collaborations, technological advancements, and regulatory approvals to strengthen their market presence. Notable developments include:

In 2024, Abbott launched the next-generation Perclose ProStyle™ system with improved deployment and sealing performance.

In 2023, Haemonetics expanded its portfolio by acquiring Cardiva Medical, enhancing its offering in vascular closure technologies.

In 2022, Terumo Corporation announced the global rollout of its MANTA™ vascular closure device in emerging markets.

Scope of Work – Global Large Bore Vascular Closure System Market

Report Metric Details

Market Size (2023) USD 930 million

Projected Market Size (2031) USD 1.89 billion

CAGR (2023–2031) 9.3%

Market Segments By System Type (Suture-Based, Plug-Based), End-Use (Hospitals, ASCs), Region

Growth Drivers Rise in large-bore procedures, demand for minimally invasive interventions, advancements in closure technology

Opportunities Expansion in emerging markets, rise in ambulatory surgical centers

Key Market Developments:

2024: Abbott receives expanded CE mark for Perclose ProStyle™ in large-bore arterial access sites.

2023: Haemonetics acquires Cardiva Medical to strengthen its cardiovascular product portfolio.

2022: Terumo launches the MANTA™ Vascular Closure Device in additional global markets targeting EVAR and TAVR procedures.

FAQs:

1) What is the current market size of the Global Large Bore Vascular Closure System Market?

The market size was valued at USD 930 million in 2023.

2) What is the major growth driver of the Global Large Bore Vascular Closure System Market?

The increasing volume of large-bore cardiovascular procedures and demand for minimally invasive interventions are key growth drivers.

3) Which is the largest region during the forecast period in the Global Large Bore Vascular Closure System Market?

North America is the largest region due to its high procedural volumes and advanced healthcare infrastructure.

4) Which segment accounted for the largest market share in Global Large Bore Vascular Closure System Market?

The Suture-Based Vascular Closure Devices segment held the largest share in 2023.

5) Who are the key market players in the Global Large Bore Vascular Closure System Market?

Key players include Abbott Laboratories, Terumo Corporation, Teleflex Incorporated, Cardinal Health, and Haemonetics Corporation.

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