This report from Life Science Intelligence provides the latest market data for the Global Femoral Closure Devices Market. Information covered by this report includes:
· unit volumes & pricing forecast from 2019-2024
· analyses of the leading companies, and
· global market share analysis.
The global market for femoral closure devices is expected to reach an estimated $794.6 million in 2020 and is projected to increase at a CAGR (2020-2024) of 2.8%. Products covered by this report include specialized devices for the closure of femoral access site wounds created in diagnostic and interventional transcatheter procedures.
This report covers the impact of COVID-19 on the femoral closure devices market, including a recent forecast from 2020 to 2024. COVID-19 has also impacted leading competitors, such as Abbott, Cardinal Health, Merit Medical, Terumo, and others. The report provides insights into trends, drivers, and limiters of the femoral closure devices market, as well as highlights potential opportunities.
The femoral closure devices market was severely impacted by the COVID-19 pandemic as a result of the postponement of non-critical interventional cardiology procedures. While the decline in interventional cardiology procedures in 2020 was substantial, procedure volumes are projected to return to pre-COVID-19 level in 2021.
The market’s leaders, Abbott and Terumo, account for a combined market share of more than 70% of global femoral closure device sales. Terumo is the current market leader, thanks to the success of the popular Angio-Seal and FemoSeal devices. The company acquired the technology from St. Jude Medical in 2017, prior to St. Jude Medical’s acquisition by Abbott.