Heart Defect Closure Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028

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Heart Defect Closure Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028

Status : June, 2020 | Medical Devices | PPT format

Report Digest

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 MarketKey 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 MarketMarket 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 MarketRegional 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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.