Abstract
Overview
As analyzed in this report by Life Science Intelligence, the global market for
vascular closure devices will reach nearly $1 billion by 2013. The market for
vascular closure technologies, which includes implantable devices and external
compression products,has traditionally been concentrated in the U.S. and
Western Europe. These technologies are used to replace or augment manual
compression following diagnostic catheterizations. By reducing time to
hemostasis and facilitating more rapid recovery, implantable technologies are
able to reduce time in the recovery room, which contributes to better patient
throughput and higher profits for catheterization labs. External compression
products, which include chemically-treated patches, also simplify the process
of vascular closure for the clinician and staff.
LSI expects that by 2013, implantable devices and external compression
products will account for nearly half of all vascular closures in the U.S.
While implantable devices will account for 56% of all device-based procedures.
In Europe, the use of vascular closure devices in the West has been offset by
broad use of manual compression in the East. Driven by favorable demographics
and better access to technologies, however, vascular closure devices,
especially external compression products, should experience greater adoption.
To date, the high cost of implantable vascular closure devices has limited
adoption in other international markets. By 2013, however, growing
catheterization volumes, better access to new healthcare technologies, an
expanding middle class, and the need to increase patient throughput while
meeting the standards of Western healthcare will contribute to greater
adoption of these technologies. Although only limited use of implantable
devices is expected, external compression products, which are significantly
less expensive than implantable devices, will experience broader adoption.
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