Vascular sealing systems were associated with immediate hemostasis and no major complications in patients undergoing transferomal diagnostic and interventional procedures. There are two different types of closure systems available includes active and passive approximators. Active approximators (suture-based and clip based) mechanically secure arteriotomy effects closure through an approximation of margins or mechanical fixation using the clip and passive approximators (Gel based devices, collagen plugs) involves in hemostasis balance and coagulation enhancement.
Manual hemostasis is associated with medical complication and it led to the development of vascular sealing systems. It was further augmented by technology evolution and led to the rapid development of vascular sealing products. Additionally, manual compression for hemostasis is a costly procedure and posed a significant healthcare burden. Because of increasing healthcare burden, both government bodies and healthcare systems are shifted towards vascular sealing systems. Additionally, it is boosted by increasing R D expenditure from both public and private sectors led to rapid development. Vascular sealing systems are cost-effective and decrease the complication associated with manual compression. It improved patient compliance and decreased the out of the pocket expenditure. All these factors led to the rapid evolution of vascular sealing systems and fuelled the growth of the market. The market is expected to witness double growth rate during the forecast period due to increasing adoption among the healthcare settings.
North America market is expected to witness high market share in the global market due to high penetration among the general population end-user segment. It is followed by European and Asia Pacific regions. Asia Pacific region is expected to witness the highest growth rate during the forecast period due to high prevalence and large patient pool. Asia Pacific region is highest opportunistic space for innovators due to significant traction. Latin America and Rest of the world market are expected to account a small fraction of market share due to less adoption.