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 : May, 2021 | Medical Devices

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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?