Insights Into The Congenital Heart Defect Devices Market’s Growth Potential 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
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.
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.
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What Are The Key Trends That Influence Congenital Heart Defect Devices Market Share Analysis?
Major companies in the congenital heart defect device market are concentrating on developing innovative technologies, particularly transcatheter treatment options, to enhance the efficacy and safety of interventions for congenital heart defects. Transcatheter treatment is a minimally invasive medical procedure used to address various heart conditions, including congenital heart defects, without resorting to open-heart surgery. For example, in June 2021, Abbott Laboratories, a US-based medical device company, introduced the Amplatzer Piccolo, a device specifically designed to treat congenital heart defects in premature infants. This device employs advanced materials and a specialized design tailored to the delicate physiology of premature babies, utilizing a minimally invasive transcatheter approach that allows for precise placement and adjustment without open-heart surgery. Enhanced imaging technology ensures accurate navigation and positioning of the device within the intricate structures of a premature baby’s heart.
Which Market Players Are Driving Growth In The Congenital Heart Defect Devices Market?
Major companies operating in the congenital heart defect devices 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
How Is The Global Congenital Heart Defect Devices Market Segmented?
The congenital heart defect devicesmarket 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
Read The Full Congenital Heart Defect Devices Market Report Here
The Congenital Heart Defect Devices Global Market Report 2024 provides an overview of the congenital heart defect devicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The congenital heart defect devices market forecast analyzes congenital heart defect devices market size, congenital heart defect devices market share, leading competitor and their market positions.
The Table Of Content For The Congenital Heart Defect Devices Market Include
1. Congenital Heart Defect Devices Market Executive Summary
2. Congenital Heart Defect Devices Market Segments
3. Congenital Heart Defect Devices Market Size And Template Market Growth Rate
4. Key Congenital Heart Defect Devices Market Trends
5. Major Congenital Heart Defect Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Congenital Heart Defect Devices Market
26. Top Congenital Heart Defect Devices Companies
27. Congenital Heart Defect Devices Market Opportunities And Strategies
28. Congenital Heart Defect Devices Market, Conclusions And Recommendations
29. Appendix
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