What Fueled Heart Closure Devices Market?
The heart closure devices market has seen considerable growth due to a variety of factors.
• The market size for heart closure devices has experienced rapid expansion in the past few years. It is projected to escalate from $2.77 billion in 2024 to $3.10 billion in 2025, with a compound annual growth rate (CAGR) of 12.2%.
The prominent growth during the historical period could be linked to heightened awareness among healthcare providers, an increased number of device certifications from regulating authorities, more beneficial policies of reimbursement, the rise in heart-related ailments, and an expanding aged population.
What Is The Expected Growth In The Heart Closure Devices Market Size?
The heart closure devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for heart closure devices is predicted to experience significant expansion in the coming years, surging to a value of $4.87 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 11.9%.
This anticipated growth for the forecast period is mainly due to factors such as the increasing rate of congenital heart defects occurrences, escalating use of MRI procedures, rising number of heart strokes and atrial fibrillation cases, and an increased preference for less invasive procedures. Important trends to watch during the projected period include the merger of multi-functional devices, technological progress, innovation in material and design, incorporation of imaging technologies, and advancements in bioresorbable materials.
Which Drivers Are Accelerating Growth In The Heart Closure Devices Market?
The escalation in cardiovascular diseases (CVDs) occurrences is predicted to fuel the expansion of the heart closure devices market. This surge in cardiovascular diseases (CVDs) is spurred by elements such as age, harmful lifestyle choices, hereditary susceptibility, and rising prevalence of risk factors like hypertension, diabetes, and obesity. Heart closure devices assist in mitigating the occurrence of complications from congenital heart defects by utilizing minimally invasive techniques to seal abnormal heart openings, enhancing blood circulation and warding off additional health complications. For example, in May 2024, the Singapore Heart Foundation (SHF), a non-profit organization based in Singapore, reported that in 2023, cardiovascular disease deaths totaled 26,885. Furthermore, ischemic heart disease caused 5,302 fatalities, an uptick from 5,290 deaths in 2022. Consequently, the escalating occurrence of cardiovascular diseases (CVDs) is propelling the growth of the heart closure devices market.
What Are The Primary Segments In The Global Heart Closure Devices Market?
The heart closure devices market covered in this report is segmented –
1) By Product: Atrial Septal Defect (ASD) Closure Devices, Ventricular Septal Defect (VSD) Closure Devices, Patent Foramen Ovale (PFO) Closure Devices, Left Atrial Appendage (LAA) Closure Devices, Other Products
2) By Material: Nitinol-Based Devices, Stainless Steel Devices, Other Materials
3) By Mode of Delivery: Transcatheter Delivery, Surgical Delivery
4) By End Use: Hospitals, Ambulatory Surgical Centers (ASCs), Cardiac Catheterization Laboratories, Other End Uses
Subsegments:
1) By Atrial Septal Defect (ASD) Closure Devices: Self-expanding Occluders, Balloon-expandable Occluders, Other ASD Closure Devices
2) By Ventricular Septal Defect (VSD) Closure Devices: Transcatheter VSD Closure Devices, Surgical VSD Closure Devices, Other VSD Closure Devices
3) By Patent Foramen Ovale (PFO) Closure Devices: Double-Disc Occluders, Single-Disc Occluders, Other PFO Closure Devices
4) By Left Atrial Appendage (LAA) Closure Devices: LAA Occluders, LAA Clip Systems, Other LAA Closure Devices
5) By Other Products: Septal Defect Closure Devices, Endovascular Closure Devices, Other Specialty Closure Devices
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Which Key Trends Are Driving Changes In The Heart Closure Devices Market?
Leading enterprises in the heart closure devices industry are concentrating on the production of technologically sophisticated solutions like patent foramen ovale occlusion systems. These advancements are aimed at enhancing patient health results and reducing issues during medical procedures. The Patent foramen ovale (PFO) occlusion systems, a kind of medical equipment designed to seal a persistent opening in the heart, identified as a PFO, which is basically a gap between the right and left atria that should have naturally closed after birth. An illustration of this in September 2022, was when Abbott Laboratories, a medical devices firm operating in the US, unveiled the Amplatzer Talisman PFO Occlusion System. The creative device is targeted at treating patients with PFO, especially those who have previously had a stroke and are susceptible to recurrent events. The design includes a pre-attached occluder for simplified procedures, a flexible 30mm size for better flexibility, and a fully recapturable design to assure an effective PFO closure and reduce the chances of future strokes.
Who Are the Key Players in the Heart Closure Devices Market?
Major companies operating in the heart closure devices market are include:
• Abbott Laboratories
• Medtronic plc
• Boston Scientific Corp.
• Lepu Medical Technology Ltd.
• Terumo Corporation
• Edwards Lifesciences
• Teleflex Incorporated
• Merit Medical Systems Inc.
• Cordis Corporation
• AtriCure Inc.
• Lifetech Scientific Corp.
• Sahajanand Medical Technologies
• W. L. Gore And Associates Inc.
• Occlutech GmbH
• NMT Medical Inc.
• Sorin Group Italia S.p.A.
• Vivasure Medical Limited
• B Braun Interventional Systems
• HeartStitch Inc.
• MicroPort Scientific Corporation
What Is The Most Dominant Region In The Heart Closure Devices Market?
North America was the largest region in the heart closure devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heart closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
