Heart Defect Closure Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Global Heart Defect Closure Devices Market: Overview
Heart closure devices are used primarily to close any defect or an opening between both the sides of the heart. They have gained acceptance in the percutaneous closure of patent foramen ovale and atrial septal defect. A large part of the defects in populations are congenital. Advances in catheterization techniques have greatly influenced the dynamics of the heart defect closure devices market. In recent years, transcatheter device closure of atrial septal defect (ASD) has gained some preference over open heart surgical ASD closure. The popularity has stemmed from better safety and efficacy profiles of such devices. Over the years, the process has become simplified as well as less invasive. Concurrently, structural and interventional cardiologists have constantly upgraded their armamentarium to address congenital heart defects in young adults, world over.
Global Heart Defect Closure Devices Market: Key Trends
Rapid advances made in treatment modalities and diagnostic technologies for managing congenital heart defects in adults is a key factor expected to propel the growth in the heart closure devices market. The use of 3D imaging is gathering steam in heart defect closure procedures. It enables cardiologists get better spatial visualization of cardiac cells. Technological advancement of 3D imaging plays a key role in improving the clinical outcome of such procedures. The advent of heart defect closure devices with expandable wireframes opened a new, exciting avenue, thereby expanding the prospects of the market. Increasing research and development activities in developing and developed nations is fueling the market’s rapid expansion.
Global Heart Defect Closure Devices Market: Market Potential
Abbott Laboratories, a U.S.-based health care company is one of the stakeholders aiming at leveraging the potential of the global heart defect closure devices market. To this end, it has developed a self-expandable wire mesh heart defect closure devices for closing patent ductus arteriosus (PDA) in babies. Recently in 2019, cardiologists applied it for the first time in Le Bonheur Children's Hospital. The device successfully and safely closed the heart defect in a baby aged only 28 weeks. The procedure was safe, concluded the surgeons. They opined that the advent of such therapeutic devices could help cardiologists meet an unmet need. Such novel developments, thus, expand prospects of the heart defect closure devices market.
In developed nations, there is growing efforts by healthcare centers to participate in clinical trials for the development of better heart defect closure devices. For instance, 2017 witnessed several such device trials by the U.S. Food and Drug Administration. Heart defects in premature babies have posed considerable challenges for cardiologists. PDA has been a key cause of low survival rate in premature babies and there is paucity of safe and minimally-invasive devices for PDA closure procedures. This is one of the primary reasons which has been propelling advances in this direction.
Global Heart Defect Closure Devices Market: Regional Outlook
The study on the global heart defect closure devices market focuses on the regional growth dynamics. The assessments and evaluations highlight promising regions and give indications for mature markets in the not-so-distant future. The report also takes a close at the regulatory frameworks in key regions and the impact these have on their prospective growth. Regionally, both Europe and North America are expected to generate sizeable revenues in the global market. Over the past few years, Europe has been witnessing the entry of several prominent manufacturers and vendors in the regional market. Further, Asia Pacific is expected to hold a vast potential in the global heart defect closure devices market.
Global Heart Defect Closure Devices Market: Competitive Landscape
A majority of players in the global heart defect closure devices market are focusing on developing and unveiling technologically-advanced devices. In many respects, the global market is considered to be moderately consolidated. The study takes a critical look at all those factors that shape the prevailing competitive dynamics. Some of the prominent players operating in the heart defect closure devices market are W. L. Gore & Associates, Inc., Cardia, Inc., Boston Scientific Corporation, AtriCure, Inc., and Abbott Laboratories.
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