The Global Vascular Plugs Market is likely to gain impetus from tremendous technological advances occurring in this field. According to a report by Fortune Business Insights, titled, “Vascular Plugs Market Size, Share and Global Trend By Product Type (Congenital heart malformation vascular plugs, Microvascular plug system, Arterial/venous vascular plugs, Others), By Material (Titanium-Nitride (Tin), Titanium-Nickel (Nitinol), By End-user (Hospitals, Ambulatory surgical centers, Specialty clinics, Others) and Geography Forecast till 2026,” a rise in the number of peripheral embolization procedures is anticipated to boost the global vascular plugs market growth. Additionally, the ongoing technological advancements and new vascular product launches are likely to increase the global vascular plus market sales during the forthcoming years.
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Key players leading the global Vascular Plugs Market include,
- Comed B.V.
- ArtVentive Medical Group Inc.
- Shape Memory Medical Inc.
- EndoShape, Inc.
- Infiniti Medical
- Lifetech Scientific, and other key market players.
The report further states that vascular plugs are capable of replacing the combination of traditional silicon latex balloons and detachable coils. This further aids in reducing procedural time and it is also cost-effective in nature. All these factors will contribute to the global vascular plugs market growth during the forecast period.
Increasing Emphasis on Minimally Invasive Surgical Procedures to Favor Growth in Asia Pacific
The global vascular plugs market is geographically divided into Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America. Amongst these regions, North America had held the highest global vascular plugs market share in the year 2018. The growth is attributed to the technologically advanced and developed healthcare infrastructure and a rising number of peripheral embolization procedures. These have further led to the increasing demand for advanced and new vascular plug devices in this region. Asia Pacific, on the other hand, is anticipated to register an astonishing CAGR during the forecast period, between 2019 to 2026. This will occur because of a rise in the demand for advanced vascular plugs, adequate reimbursement policies, and increasing emphasis towards minimally invasive surgical procedures by government and healthcare organizations.
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Major Players Focus on Innovative Product Launches to Gain Fast Track Approvals
Shape Memory Medical Inc., a medical device provider, based in California, announced in June 2018 that it has received 510(k) clearance from FDA for its Impede embolization plug. The device is meant to reduce or obstruct the blood flow rate in the peripheral vasculature. It is available in three sizes for treating vessels that are up to 10mm in diameter. The Impede embolization plug has been previously used to treat patients belonging to numerous countries in the European Union and in New Zealand. The company declared that Impede would allow physicians to treat conditions that require blockage of the peripheral vasculature.
Cardiva Medical Inc., a provider of advanced vascular access management products, based in the U.S., announced that the U.S. FDA has approved its VASCADE MVP Venous Vascular Closure System in April 2019. It is considered to be the first vessel closure technology that is designed for electrophysiology procedures. It uses a proprietary and simple delivery system to insert a collagen patch on the exterior of each vessel puncture site. Once the procedure is over, no residue is left inside the vessel. The collagen that had been placed outside the vessel wall gradually breaks down in a short period. This gives access to surgeons for future procedures.
By Product Type
- Congenital heart malformation vascular plugs
- Microvascular plug system
- Arterial/venous vascular plugs
- Titanium-Nitride (Tin)
- Titanium-Nickel (Nitinol)
- Ambulatory surgical centers
- Specialty clinics
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