Market Size – The congenital heart defect devices market size has grown strongly in recent years. It will grow from $2.72 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growth in healthcare awareness campaigns, increasing number of heart defect screening programs, growth in medical device regulations, increasing prevalence of congenital heart defect, and increase in the risk of organ failure.
The congenital heart defect devices market size is expected to see strong growth in the next few years. It will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing clinical trials, a surge in the geriatric population, an increasing prevalence of congenital heart defects, rising government support and funding, and an increasing number of specialized medical centers. Major trends in the forecast period include technological advancements, digital health technologies, personalized medicine, 3D printing technology, and wearable devices.
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Scope Of Congenital Heart Defect Devices MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Congenital Heart Defect Devices Market Overview
Market Drivers -The increasing number of minimally invasive procedures is expected to propel the growth of the congenital heart defect device market. These procedures involve surgical interventions with small incisions or through natural body openings, using specialized tools to minimize trauma and enhance recovery. The rise in such procedures is attributed to advancements in technology, patient preferences for less invasive treatments, improved surgical techniques, and the benefits of reduced recovery times and complications. Congenital heart defect devices are utilized in these minimally invasive procedures to aid in the diagnosis, treatment, and management of heart abnormalities through smaller incisions or catheter-based approaches. For instance, in 2022, the American Society of Plastic Surgeons reported that there were 23,672,269 cosmetic minimally invasive procedures performed in the United States, reflecting a 7% increase compared to previous years. Therefore, the growing prevalence of minimally invasive procedures is significantly driving the congenital heart defect devices market.
Market Trends – Major companies operating in the congenital heart defect device market are focused on developing innovative technologies, such as transcatheter treatment options, to improve the efficacy and safety of interventions for congenital heart defects. Transcatheter treatment refers to a minimally invasive medical procedure used to treat various heart conditions, including congenital heart defects, without the need for open-heart surgery. For instance, in June 2021, Abbott Laboratories, a US-based medical device company, launched the Amplatzer Piccolo, a device to treat congenital heart defects in premature babies. This device incorporates advanced materials and a specialized design to accommodate the delicate physiology of premature infants. It utilizes a minimally invasive transcatheter approach, allowing for precise placement and adjustment without needing open-heart surgery. Enhanced imaging technology ensures accurate navigation and positioning of the device within the tiny structures of a premature baby’s heart.
The congenital heart defect devices market covered in this report is segmented –
1) By Device Type: Catheters, Pacemakers, Single-Chamber Pacemakers, Dual-Chamber Pacemakers, Biventricular Pacemakers, Leadless Pacemakers, Implantable Cardioverter Defibrillators, Biventricular Devices, Implanted Cardiac Loop Recoders, Other Device Types
2) By Defect Type: Atrial Septal Defect, Ventricular Septal Defect, Atrioventricular Septal Defect, Tricuspid Atresia, Truncus Arteriosus, Other Defect Types
3) By End user: Hospitals, Specialty Clinics, Academic And Research Institute, Other End Users
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Regional Insights – North America was the largest region in the congenital heart defect devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the congenital heart defect devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Pfizer Inc., Johnson & Johnson, AstraZeneca plc., Abbott Laboratories, GlaxoSmithKline plc., Medtronic plc., Philips Healthcare, Boston Scientific Corporation, W. L. Gore & Associates Inc., Masimo Corporation, Lepu Medical Technology (Beijing) Co. Ltd., MicroPort Scientific Corporation, Stereotaxis Inc., Berlin Heart GmbH, Ventracor Limited, Syncardia Systems LLC, On-X Life Technologies Inc., Occlutech Holding AG, Sahajanand Medical Technologies Pvt. Ltd., Response Biomedical Corporation, Xeltis AG, Procyrion Inc., Heartstitch Inc., Cardia Inc., OSYPKA Medical GmbH
Table of Contents 1. Executive Summary2. Congenital Heart Defect Devices Market Report Structure3. Congenital Heart Defect Devices Market Trends And Strategies4. Congenital Heart Defect Devices Market – Macro Economic Scenario5. Congenital Heart Defect Devices Market Size And Growth…..27. Congenital Heart Defect Devices Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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