Vascular Closure Devices Market

Acquisitions and Product Approvals were the Key Growth Strategies in the Vascular Closure Devices Market between 2013 and 2017

The vascular closure devices market is dominated by Terumo Corporation (Japan), Abbott (U.S.), Cardinal Health Inc. (U.S.), and Cardiva Medical Inc. (U.S.).

Terumo Corporation (Japan) is the largest player in the market. In order to remain competitive, the company primarily adopts inorganic growth strategies such as acquisitions. In 2016, the company acquired Angio-Seal and FemoSeal vascular closure devices product line of St. Jude Medical, Inc. (U.S.) from Abbott (U.S.). These products are the dominant products in the vascular closure devices market. 

Abbott (U.S.) is another prominent player in the market. The company focuses on inorganic growth strategies such as agreements and mergers to sustain its foothold in the market. In 2017, St. Jude Medical, Inc. (U.S.) merged with Abbott (U.S.). This agreement helped the company to strengthen its presence in the market.

Cardinal Health Inc. (U.S.) is another leading player in the market. The company focuses on inorganic growth strategies like acquisitions. In 2015, the company acquired Cordis Corporation, (U.S.). This acquisition enabled Cardinal Health to strengthen its cardiovascular product portfolio and to increase its customer base in various geographic regions. Similarly, in 2014, the company acquired Access Closure, Inc. (U.S.). This acquisition strengthened the company’s position in the global vascular closure devices market.

Other prominent players in the market include Cardiva Medical Inc. (U.S.), Medtronic PLC (Ireland), Morris Innovative, Inc. (U.S.), Essential Medical, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland).

An analysis of the market developments between 2013 and 2017 suggests that product approvals and acquisitions were the most important growth strategies employed by market leaders in this period.

Other growth strategies adopted by players in this market include funding activities, partnerships, collaborations, mergers, joint ventures, and agreements. These strategies were adopted by the major players, such as Cardiva Medical Inc. (U.S.), Medtronic PLC (Ireland), Morris Innovative, Inc. (U.S.), Essential Medical, Inc.(U.S.), Merit Medical Systems, Inc. (U.S.), TZ Medical, Inc. (U.S.), and Vasorum Ltd. (Ireland) between 2013 and 2017 to enhance their geographic presence and increase their customer base.

Related Reports:

Vascular Closure Devices Market by Type (Passive Approximators (Collagen Plugs Sealent/Gel Based), Active Approximators (Clip, Suture Devices)), Access (Femoral,Radial) & Procedure (Interventional Cardiology, Radiology) - Global Forecasts to 2022

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Report Code
MD 5243
RI Published ON
5/10/2017
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