Report Ocean recently published a new research report on the Heart Closure Devices Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Heart Closure Devices Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
Global Heart Closure Devices Market is valued at approximately USD 2.05 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.9% over the forecast period 2022-2029.
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Heart closure devices is a type of medical device that is specially designed for the diagnosis and treatment of congenital heart defects such as ventricular septal defect, atrial septal defect, left atrial appendage defect, and patent ductus arteriosus. These illnesses affect the heart structure, which results in reducing the heart’s ability to pump blood normally. Congenital heart abnormalities are treated by using closure devices to seal a gap between the right and left sides of the heart. Factors such as strong clinical evidence surrounding the device, the rising adoption of high-priced technologies expanded options for reimbursement, and the increase in adoption of MRI procedures are contributing to the market growth around the world.
The rising incidences of congenital heart disease (CHD) among the population are directly associated with the demand for heart closure devices in the global market. The Indian Pediatrics reported that almost 1.35 million babies are born with CHD each year globally. Likewise, according to The Centers for Disease Control and Prevention, it was estimated that CHD affected approximately 1% or nearly 40,000 births per year in the United States. Also, around 1 in 4 babies with a CHD have a critical CHD, which requires surgery or other procedures in their first year of life. Therefore, the high disease burden is stipulating the growth of the global market. Moreover, the increasing number of hospitals & surgical centers, as well as the rising development of innovative products by key players are presenting various lucrative opportunities over the forecasting years. However, the shortage of highly skilled professionals and stringent regulatory frameworks are hampering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Heart Closure Devices Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing number of clinical trials, along with the rising government initiatives and high R&D investments. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising development of stronger healthcare infrastructure, increasing population, as well as rising prevalence of target disease in the market space.
Major market players included in this report are:
- Abbott
- W. L. Gore & Associates, Inc.
- Boston Scientific Corp.
- Occlutech
- Heartstitch
- SMT
- Cardia, Inc.
- Lifetech Scientific Corp.
- Lepu Medical Technology (Beijing)Co., Ltd.
- AtriCure Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Closure Type:
Congenital Heart Defect Closure
PFO Closure
LAA Closure
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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This report answers the following key questions:
- How big is the market as a whole in 2021? What rate of market expansion is anticipated between 2022 to 2030?
- Which region would experience a high demand for goods in the years to come?
- What are the variables promoting the market’s expansion?
- Which sub-market will have the most impact on the market?
- What market opportunities exist for established and new players?
- What different short-term and long-term tactics have the market players adopted?
With regard to the COVID-19 Outbreak Impact Analysis:
- In light of COVID-19, the report examined market trends.
- On the basis of the upstream and downstream markets, the study examined COVID-19’s effects on the manufacturing industry’s supply chain.
- We examine how COVID-19 has affected diverse regions and significant nations.
- It is noted how COVID-19 will affect the industry’s future growth.
Examined in the study are:
- Market behavior, risk, and opportunity levels
- An assessment of end-industry behavior and opportunity
- An anticipated timeline for industry recovery.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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