Heart Defect Closure Device Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope

A heart defect closure device is a medical device used to close abnormal openings or defects in the heart's structure, typically in the septum, which is the wall separating the heart's chambers. It is used to treat certain heart defects, such as atrial septal defects or patent foramen ovale, by closing heart's wall. They are delivered via minimally invasive procedures, providing an effective and less invasive alternative to open-heart surgery for patients with these conditions.

Sizing and Forecast
The heart defect closure device market size has grown rapidly in recent years. It will grow from $0.97 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to growing number of people with congenital heart problems, ageing population, rising health awareness, increasing R&D, and advancements in catheterization techniques.

The heart defect closure device market size is expected to see rapid growth in the next few years. It will grow to $1.90 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to increasing congenital defects, improved diagnostic techniques, rise in adoption of MRI procedures, rise in use of 3d imaging in heart defect closure procedures, and high occurrence of ischemic stroke. Major trends in the forecast period include technological advancements, development of innovative products, development of next-generation heart closure devices, growing detection of PFO closure devices, and need to assess the benefits of PFO closure for the aged population.

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Segmentation & Regional Insights
The heart defect closure device market covered in this report is segmented –
1) By Type: Atrial Septal Defect (ASD) Closure Device, Left Atrial Appendage (LAA) Closure Devices, Patent Foramen Ovale (PFO) Closure Devices, Patent Ductus Arteriosus (PDA) Closure Devices, Ventricular Septal Defect (VSD) Closure Devices
2) By Material: Nitinol-Based Devices, Stainless Steel Devices, Other Materials
3) By Mode Of Delivery: Transcatheter Delivery, Surgical Delivery, Other Modes
4) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users

North America was the largest region in the heart defect closure device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heart defect closure device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing number of people with congenital heart problems is expected to propel the growth of the heart defect closure device market going forward. Congenital heart problems refer to structural defects in the heart that are present at birth. The increase in congenital heart problems is due to genetic predispositions, environmental influences, and maternal health issues such as diabetes, obesity, and exposure to certain medications or infections during pregnancy. Heart defect closure devices help to treat congenital heart problems by offering minimally invasive solutions to seal abnormal heart openings, thus restoring normal blood flow, reducing complications, and improving overall cardiac function. For instance, in December 2023, according to the data from the Australian Bureau of Statistics 2020–21 National Health Survey, conducted by the Australian Institute of Health and Welfare, an Australia-based government agency, an estimated 571,000 adults aged 18 and over in Australia were living with coronary heart disease (CHD), comprising 2.9% of the adult population. The prevalence of CHD rises significantly with age, impacting approximately 11% of adults aged 75 and above. Therefore, the growing number of people with congenital heart problems is driving the heart defect closure device market.

Key Industry Players
Major companies operating in the heart defect closure device market are Abbott Laboratories, Medtronic, Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Corporation, Edwards Lifesciences, W L Gore and Associates, B. Braun, BIOTRONIK SE & Co. KG, Lepu Medical Technology, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, AtriCure Inc., LifeTech Scientific Corporation, Baylis Medical Company Inc., Biosense Webster Inc., Sahajanand Medical Technologies Limited, Occlutech, Coherex Medical Inc., Cardia Inc., Acrostak Corporation, Vivasure Medical, Transmural Systems Inc., Cormatrix Cardiovascular Inc., and St. Jude Medical LLC.

The heart defect closure device market report table of contents includes:
1. Executive Summary

2. Heart Defect Closure Device Market Characteristics

3. Heart Defect Closure Device Market Trends And Strategies

4. Heart Defect Closure Device Market - Macro Economic Scenario

5. Global Heart Defect Closure Device Market Size and Growth

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32. Global Heart Defect Closure Device Market Competitive Benchmarking

33. Global Heart Defect Closure Device Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Heart Defect Closure Device Market

35. Heart Defect Closure Device Market Future Outlook and Potential Analysis

36. Appendix

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