Heart Closure Devices Market Overview:
Heart Closure Devices Market worldwide was worth $ 2.4 billion US dollars. AMR Group projects that the market will reach US$ 9.8 billion by 2031, growing at a CAGR of 14.3 percent between 2022 and 2031. Heart closure devices are medical devices used to seal aberrant openings in the heart, specifically ventricular or atrial septal defects. They are often referred to as occludes or septal occludes
However, the market expansion for cardiac closure devices may be hampered by the possible side effects and difficulties associated with these devices. Device displacement, migration, fracture, and embolization are a few examples of these. To recover or realign the device due to these difficulties, other procedures or surgery might be necessary. Blood clots can occasionally form on the device’s surface or in the vicinity of it.
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Market Dynamics:
Numerous important factors are driving the enormous expansion of the cardiac closure device market. First off, a sizable share of mortality rates worldwide and in the US are attributed to cardiovascular disorders, which are also a major cause of death. These disorders are common, which emphasizes the value of cutting-edge medical tools and therapies in treating them.
The aging population is one of the market’s main drivers. People are more prone to long-term illnesses like cardiovascular problems as they get older. The need for medical equipment, such as cardiac closure devices, designed with the needs of elderly people in mind is rising as a result of this demographic shift.
Another factor contributing to market growth is the increasing utilization of advanced technologies such as 3D imaging and anatomical models in the design and manufacturing processes of heart closure devices. The incorporation of 3D imaging technology offers numerous benefits, including enhanced precision, customization, and adaptability.
Market Trends:
Heart closure devices have come a long way in the last few years, especially with the introduction of new bio absorbable closure devices. These novel gadgets are designed to provide short-term wound closure support before eventually disintegrating or being absorbed by the body. They greatly lessen patient discomfort and lower the risk of problems by removing the need for a follow-up treatment to remove sutures or metal clips.
Furthermore, a promising new technology for sealing surgical incisions made during cardiovascular treatments is magnetic closure devices. These devices provide a less invasive option to traditional sutures or staples by using magnets to hold the edges of an incision together. The magnets are notably tuneable from the outside, offering exact control over the closing procedure. This technique has a lot of promise to improve the
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Market Segments:
By Defect Type
- Atrial Septal Defect Closure Devices
- Left Atrial Appendage Closure Devices
- Patent Foramen Ovale Closure Devices
- Patent Ductus Arteriosus Closure Devices
- Ventricular Septal Defect Closure Devices
By End User
- Hospitals & Specialty Clinics
- Ambulatory Surgical Centers
Market Regional Analysis:
Geographically, North America dominated the Heart Closure Devices market, accounting for more than 52.50% of total revenue, due to higher R&D spending as well as trials in this region. The region has grown thanks to the presence of important players and hospitals with cutting-edge technology in both Canada and the United States. To establish safety and effectiveness data, the Lambert device will be examined in this clinical trial among the US population.
Due to business efforts in expanding their regional presence and developing healthcare infrastructure, the Asia Pacific region is anticipated to deliver exceptional potential for the Heart Closure Devices market. For instance, India had the lowest cost of heart defect closure devices among the Asia Pacific nations covered in the survey.
Key Market Players:
- Abbott Laboratories
- Attribute Inc.
- Bio sense Webster, Inc.
- Boston Scientific Corp.
- Cardia, Inc.
- Heart stitch
- Lepus Medical Technology (Beijing)Co., Ltd.
- Lifetouch Scientific Corp.
- Medtronic Plc.
- Occludes Holding AG
- and Sentra HEART, Inc. among others.
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