Global Vascular Closure Devices Market to Surpass US$ 1440.3 Million Threshold by 2025

The Global Vascular Closure Devices Market by Product Type (Passive Vascular Closure Devices, Active Vascular Closure Devices, and External Hemostatic Devices), By Access (Femoral and Radial), by Hole Size (Small Hole and Large Hole), by End User (Hospitals, Ambulatory Surgical Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 848.2 Mn in 2016 and is projected to exhibit a CAGR of 6.1% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Multiple approvals and launch of novel innovative devices is expected to support the growth of global vascular closure devices market.

In 2016, Essential Medical, Inc., received CE Mark approval for product MANTA, which is a bore vascular closure device. In 2016, Vasorum Ltd. received U.S. Food and Drug Administration (U.S. FDA) approval for vascular closure device Celt ACD. In 2014, Cardinal Health received U.S. FDA approval for MynxGrip vascular closure device used for closure of femoral veins. The lucrative vascular closure devices market has witnessed multiple product launches in recent years. Thereby, increasing number of products in the market is expected to boost growth of the global vascular closure devices market.

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Market players are focused on acquiring competitors or particular business segment (i.e. vascular closure device segment) from the competitors in order to increase product portfolio and to strengthen their position in vascular closure devices market. For instance, in January 2017, Terumo Corporation acquired some of vascular closure products owned by Abbott and St. Jude Medical, Inc. for a total amount of US$ 1.12 billion. The acquired product include St Jude Medical’s Angio-Seal and FemoSeal vascular closure product lines and Abbott’s Vado Steerable Sheath. An estimate total revenue generated by these products was US$ 268 Mn in 2016. Furthermore, Abbott Laboratories acquired St. Jude Medical, Inc. in January 2017 in order to strengthen its position in cardiovascular devices including vascular closure devices market. In 2014, Cardinal Health Inc. acquired AccessClosure Inc. for US$ 320 Mn in cash in order to expand vascular closure device product portfolio. In 2017, Teleflex Incorporated have acquired Vascular Solutions, Inc. This strategic acquisition have widen the vascular closure device product portfolio of Teleflex Incorporated.

Browse 34 Market Data Tables and 28 Figures spread through 195 Pages and in-depth TOC on Vascular Closure Device Market, by Product Type (Passive Vascular Closure Devices, Active Vascular Closure Devices, and External Hemostatic Devices), By Access (Femoral, and Radial), By Hole Size (Small Hole, and Large Hole) By End User (Hospital, Ambulatory Surgical Centers, and Others) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025

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Key Takeaways of the Vascular Closure Devices Market:

·         The global vascular closure devices market is expected to exhibit a CAGR of 6.1% over the forecast period (2017 – 2025), owing to frequent approval by regulatory bodies to innovative products in key regions

·         North America is expected to continue dominance during the forecast period (2017 - 2025), owing to launches of novel vascular closure devices in the regions by key players.

·         The market has witnessed multiple product launches in recent years and the trend is expected to continue during the forecast period as leading players are continuously involved in R & D to develop products with efficient technology

·         Mergers/Acquisitions (M&A) and Collaborations has been the major focus of leading companies in this field. Increasing competition in this market may lead to further increase in these activities (M&A and Collaborations).

·         Major players operating in the global vascular closure devices market include Abbott Laboratories, Medtronic Plc, Transluminal Technologies LLC, Cardinal Health, Inc., Cardiva Medical, Inc., Terumo Corporation, Essential Medical, Inc., Vascular Closure Systems, Inc., Vivasure Medical Ltd., Vasorum Ltd., and Morris Innovative Inc

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Cholesterol Testing Services Market is expected to Garner US$ 22.6 Bn by 2025

Global Cholesterol Testing Services Market, By Age Group (Geriatric, Adults, and Pediatric), By Service Provider (Hospitals, Diagnostic Laboratories, Ambulatory Care Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 11.5 Bn in 2016 and is projected to exhibit a CAGR of 7.8% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increasing prevalence of high cholesterol level is expected to drive growth of global cholesterol testing services market in the near future.

Browse 27 Market Data Tables and 36 Figures spread through 175 Pages and in-depth TOC on Cholesterol Testing Services Market by Age Group (Geriatric, Adults, and Pediatric), By Service Provider (Hospitals, Diagnostic Laboratories, Ambulatory Care Centers, and Others), and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025

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According to a research published by National Heart Foundation of Australia, in 2012, around 5.6 million people aged 18 years and above were reported to have high total cholesterol levels in Australia. High blood cholesterol could lead to risk for developing various heart diseases and stroke, owing to which, people are opting for regular cholesterol checkups. This is expected to increase demand for its testing thus, driving growth of the market in the near future. Furthermore, cholesterol level in plasma increases with age, according to a study published in NCBI in 2013. Hence, rising geriatric population and increasing prevalence of obesity are also expected to be factors aiding in market growth. This is due to high susceptibility of obese and geriatric population to increasing cholesterol levels. For instance, according to a study published by World Health Organization (WHO) in 2014, globally, over 1.9 billion adults aged 18 years and above were overweight, from which over 600 million adults were obese. According to National Institute of Health (NIH) in 2016, around 8.5%, which is 617 million of the world population, is aged 65 and above.

New developments in cholesterol testing, through R&D is expected to be a key factor for growth of the market. For instance, in 2013, researchers at John Hopkins University developed new method for calculating LDL, or low-density lipoprotein. This new method, to calculate LDL (bad cholesterol levels) in the blood, has eliminated inconvenient pre-test fasting. This research also provided evidence that the new method of calculating bad cholesterol levels in the blood is more accurate than the conventional method. Furthermore, key players in the market are focusing on launching new devices for cholesterol testing and this is also expected to drive growth of the global cholesterol testing services market in the near future. For instance, in 2013, ACON Laboratories, Inc. launched its mission cholesterol monitoring system for complete lipid panel testing. This cholesterol monitoring system offers cholesterol testing at relatively low costs.

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Key Takeaways of the Cholesterol Testing Services Market:

·         The global cholesterol testing services market is expected to exhibit a CAGR of 7.8% over the forecast period (2017–2025), owing to increasing prevalence of high cholesterol level with rising incidence of obesity, and increasing geriatric population.

·         North America was the dominant region in the global cholesterol testing services market and is expected to retain its dominance over the forecast period (2017–2025). This is owing to increasing prevalence of high cholesterol levels among the population, especially in adults and aged, in the U.S.

·         Key players are focusing on expanding their presence by launching new devices & systems and receiving marketing approvals for their new products in key geographies.

·         Major players operating in the cholesterol testing services market include Quest Diagnostics Incorporated, Spectra Laboratories Inc., Bio-Reference Laboratories Inc., Eurofins Scientific (Luxembourg), Clinical Reference Laboratory, Inc. (CRL), ACM Medical Laboratory, Adicon Clinical Laboratory, Unilabs, SYNLAB International GmbH, and Laboratory Corporation of America Holdings (LabCorp).

About CMI

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.