The global demand for Heart Closure Devices Market is presumed to reach the market size of nearly USD 23.04 BN by 2030 from USD 6.12 BN in 2022 with a CAGR of 18.02% under the study period 2023 - 2030.
Heart closure devices are medical devices used to close a hole in the heart, such as a patent foramen ovale (PFO) or an atrial septal defect (ASD). Heart closure devices are used in a minimally invasive procedure called transcatheter closure to seal the hole. There are several types of heart closure devices, including patches, plugs, and occluders. The procedure to close a hole in the heart with a heart closure device is generally safe. It has a high success rate, shorter recovery time and a lower risk of complications than open heart surgery.
The increasing prevalence of congenital heart defects, which are present at birth, is a major driver of the heart closure device market. As the population grows and ages, the number of people with congenital heart defects is expected to increase, driving demand for heart closure devices. Moreover, the increasing adoption of minimally invasive procedures drives growth in the heart closure device market. Also, developing new, more advanced heart closure devices is driving growth in the market. Furthermore, with the growing awareness of the benefits of heart closure devices, such as their low risk of complications and quick recovery time, demand for these devices is expected to increase. However, the high cost of these devices may limit the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of heart closure devices. The growth and trends of heart closure devices industry provide a holistic approach to this study.
This section of the heart closure devices market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Closure Type
- Congenital Heart Defect Closure (By Technique, ASD, PDA (Inclusive Of PDA Closure And Embolization Coils), VSD)
- PFO Closure
- LAA Closure
This section covers the regional outlook, which accentuates current and future demand for the Heart Closure Devices market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Heart Closure Devices Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the heart closure devices market include Abbott Laboratories, W. L. Gore & Associates Inc, Boston Scientific Corp., Occlutech, Heartstitch, SMT, Cardia, Inc., Lifetech Scientific Corp., Lepu Medical Technology (Beijing)Co. Ltd., AtriCure Inc.. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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