Global Heart Closure Devices Market to Grow with a CAGR of 10.40% through 2028
Growing prevalence
of cardiovascular diseases, and rise in minimally invasive procedures, is expected
to drive the Global Heart Closure Devices Market in the forecast period
2024-2028.
According to
TechSci Research report, “Global Heart Closure Devices Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Heart Closure Devices Market stood at USD USD 2.54 billion in 2022
and is anticipated to grow with a CAGR of 10.40% in the forecast period,
2024-2028. The major drivers for the Global Heart Closure Devices Market
include the increasing prevalence of cardiovascular diseases, the trend towards
minimally invasive procedures, and continuous technological advancements in
device design and materials, all of which are spurring demand for these
innovative cardiac interventions.
Technological
advancements have not only improved the safety and effectiveness of heart
closure devices but have also expanded access to these procedures globally. As
the aging population continues to grow and the prevalence of heart conditions
increases, the demand for advanced heart closure devices is expected to rise,
further boosting the global market. The growth of telemedicine has made it
easier for patients to access specialized cardiac care. This has increased the
demand for heart closure procedures, particularly in regions with limited
access to advanced medical facilities. Regulatory agencies have adapted to
technological advancements by streamlining the approval process for innovative
heart closure devices. This has encouraged manufacturers to invest in research
and development. Technology has made it possible to distribute knowledge and
expertise globally. Physicians and healthcare providers worldwide can access
training and guidance on heart closure procedures, contributing to market
growth in various regions.
The aging
population also benefits from the personalization of heart closure devices.
These devices can be tailored to individual patient needs, ensuring optimal
treatment outcomes for elderly individuals with unique anatomical
considerations. Customization options have become more readily available due to
technological advancements, accommodating the specific requirements of older
patients with structural heart defects.
Telemedicine has
also played a pivotal role in addressing the healthcare needs of the aging
population, further boosting the demand for heart closure devices. Elderly
patients, especially those in remote or underserved areas, can now access
specialized cardiac care through telemedicine, leading to increased diagnoses
of heart conditions and subsequent interventions using closure devices. Furthermore,
as regulatory agencies adapt to technological advancements and streamline the
approval process for innovative medical devices, manufacturers are more
incentivized to invest in research and development efforts to cater to the
expanding elderly patient base. This has led to a surge in the availability of
cutting-edge heart closure devices that are both safe and effective for older
adults.
The growing
aging population worldwide has become a driving force behind the booming global
market for heart closure devices. With the elderly population's increased
susceptibility to heart-related conditions, the demand for minimally invasive
procedures using advanced closure devices has surged. Technological
innovations, coupled with personalized treatment options and the expansion of
telemedicine, have made these devices more accessible and effective for older
patients. As the aging population continues to grow, the heart closure devices
market is expected to experience sustained growth, ensuring that elderly
individuals receive the specialized cardiac care they require to maintain a
high quality of life. Competition in the medical device industry has spurred
innovation and pushed manufacturers to develop more advanced and effective
heart closure devices. This benefits patients by providing a wider range of
options to choose from. technological advancements in heart closure devices
have led to safer and more effective minimally invasive procedures. These
advancements have not only improved patient outcomes but have also increased
the preference for minimally invasive approaches among both patients and
healthcare providers. As a result, the global heart closure devices market has
experienced significant growth, and this trend is likely to continue as
technology continues to advance in the field of cardiovascular medicine.
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The trend
towards personalized medicine is making its mark in the heart closure devices market.
Advancements in imaging and diagnostic tools enable healthcare providers to
tailor interventions to the individual patient's anatomy and condition. This
customization improves the precision and success rates of procedures while
minimizing risks. Patients and
healthcare providers increasingly prefer less invasive options to traditional
open-heart surgeries. Heart closure devices, such as atrial septal defect (ASD)
and patent foramen ovale (PFO) closure devices, allow for catheter-based
interventions that avoid large surgical incisions. This trend is expected to
continue as patients seek shorter hospital stays, faster recovery times, and
reduced scarring.
The Global Heart
Closure Devices Market is segmented into closure type, regional distribution,
and company.
Based on closure
type, the market is segmented into Congenital Heart Defect Closure, PFO
Closure, LAA Closure. Based on the closure type, the Left Atrial Appendage
Closure (LAAC) segment emerged as the dominant player in the global market for Heart
Closure Devices in 2022. This remarkable growth can be attributed to several
key factors that underscore the rising prominence of LAAC procedures in the
treatment of structural heart defects. Firstly, LAAC procedures have gained
traction due to their effectiveness in reducing the risk of stroke in patients
with atrial fibrillation (AFib). As AFib becomes more prevalent globally, there
is an increasing need for innovative solutions to prevent stroke, and LAAC
devices have proven to be a compelling option. Secondly, the aging population
is contributing to the growth of LAAC procedures. Elderly individuals are more
likely to develop AFib and related conditions, making them ideal candidates for
LAAC interventions. As the world's population continues to age, the demand for
LAAC devices is expected to rise. Additionally, advancements in LAAC device
technologies have improved safety and efficacy, bolstering patient and
physician confidence in these procedures. Enhanced device designs, better
materials, and refined deployment techniques have made LAAC a more attractive
option for healthcare providers and patients.
Furthermore,
increased awareness and education about the benefits of LAAC procedures have
led to higher patient referrals and adoption rates. Physicians and healthcare
professionals are playing a pivotal role in promoting the advantages of LAAC in
stroke prevention, further driving the dominance of the LAAC segment in the
global heart closure devices market.
North America
emerged as the dominant player in the global Heart Closure Devices market in
2022, holding the largest market share. This is on account of its advanced
healthcare infrastructure, strong adoption of technology, and robust research
and development activities. North America, particularly the United States, is
home to state-of-the-art pharmaceutical research and testing facilities. The
availability of advanced dissolution testing equipment and technology in the
region ensures precision, accuracy, and efficiency in testing services. The
region is known for its innovation and cutting-edge technologies. The
development of advanced cell culture techniques, genome editing tools like
CRISPR-Cas9, and automation in cell production processes have contributed to
North America's leadership in iPSC production.
Major companies operating
in Global Heart Closure Devices Market are:
- Gore &
Associates, Inc.
- Abbott
Laboratories
- AtriCure Inc.
- Lifetech
Scientific
- Occlutech
- Lepu Medical
Technology (Beijing) Co., Ltd.
- Heartstitch
- SMT
- Cardiac, Inc.
- Boston Scientific
Corporation.
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“The global
Heart Closure Devices market is experiencing a remarkable surge in growth and
innovation, propelled by a confluence of compelling factors that are reshaping
the healthcare industry. These factors are not only driving increased adoption
of heart closure devices but also fostering advancements in technology and
patient care. First and foremost, the rising prevalence of cardiovascular
diseases worldwide stands as a central driver. As heart-related conditions
continue to afflict a significant portion of the global population, there is a
growing need for effective treatments. The shift towards minimally invasive procedures
is another key driver. Patients today seek treatments that are less invasive,
resulting in shorter hospital stays, faster recovery times, and reduced
scarring. Moreover, Continuous technological advancements in device design and
materials also play a pivotal role making them even more attractive for both
clinicians and patients. Furthermore, regulatory agencies are adapting to the
changing landscape of medical technology, streamlining approval processes for
innovative devices, and ensuring their safety and efficacy and accelerates the
availability of advanced heart closure devices in t” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global
Heart Closure Devices Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Closure Type (Congenital Heart Defect Closure{By Technique( ASD,PDA ,VSD)},PFO
Closure, LAA Closure) By Region and Competition” has
evaluated the future growth potential of Global Heart Closure Devices Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Heart Closure Devices Market.
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