How is the Heart Closure Devices Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the heart closure devices market?
In recent years, the market size of heart closure devices has experienced a significant increase. It’s projected to expand from a value of $2.77 billion in 2024 to approximately $3.10 billion in 2025. This growth signifies a compound annual growth rate (CAGR) of 12.2%. Factors such as heightened consciousness among healthcare practitioners, escalating approval rates from regulatory boards, a surge in favorable reimbursement schemes, worsening cardiovascular health conditions, and an aging population have positively impacted this historical growth.
What will be the heart closure devices market size in the future?
A significant expansion is forecasted for the heart closure devices market in the forthcoming years. The market is projected to surge to $4.87 billion by 2029, with a compound annual growth rate (CAGR) of 11.9%. This marked increase during the forecast period could be due to the rising prevalence of congenital heart defects, higher utilization of MRI procedures, an escalating count of heart strokes, a growing occurrence of atrial fibrillation, and a preference shift towards minimally invasive procedures. The forecast period is also likely to witness major trends such as the amalgamation of multi-functional devices, advancements in technology, material and design innovations, the incorporation of imaging technologies, and breakthroughs in bioresorbable materials.
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What main drivers are fueling expansion in the heart closure devices market?
The heart closure devices market is anticipated to expand due to the rising prevalence of cardiovascular diseases (CVDs). This escalation is caused by various aspects such as the aging population, unhealthy lifestyle habits, genetic tendencies, and the growing occurrence of risk factors like hypertension, diabetes, and obesity. Heart closure devices function by minimally invasive closure of abnormal heart openings, enhancing blood circulation, and averting additional health complications, thus decreasing the risks associated with congenital heart defects. As an example, the Singapore Heart Foundation (SHF), a non-profit organization based in Singapore, reported in May 2024 that cardiovascular disease had claimed 26,885 lives in 2023. Furthermore, ischemic heart disease caused 5,302 deaths, a slight increase from 5,290 deaths in 2022. Thus, it’s clear that the rising occurrence of cardiovascular diseases (CVDs) fuels the expansion of the heart closure devices market.
What key areas define the segmentation of the global heart closure devices market?
The heart closure devices market covered in this report is segmented –
1) By Product: Atrial Septal Defect (ASD) Closure Devices, Ventricular Septal Defect (VSD) Closure Devices, Patent Foramen Ovale (PFO) Closure Devices, Left Atrial Appendage (LAA) Closure Devices, Other Products
2) By Material: Nitinol-Based Devices, Stainless Steel Devices, Other Materials
3) By Mode of Delivery: Transcatheter Delivery, Surgical Delivery
4) By End Use: Hospitals, Ambulatory Surgical Centers (ASCs), Cardiac Catheterization Laboratories, Other End Uses
Subsegments:
1) By Atrial Septal Defect (ASD) Closure Devices: Self-expanding Occluders, Balloon-expandable Occluders, Other ASD Closure Devices
2) By Ventricular Septal Defect (VSD) Closure Devices: Transcatheter VSD Closure Devices, Surgical VSD Closure Devices, Other VSD Closure Devices
3) By Patent Foramen Ovale (PFO) Closure Devices: Double-Disc Occluders, Single-Disc Occluders, Other PFO Closure Devices
4) By Left Atrial Appendage (LAA) Closure Devices: LAA Occluders, LAA Clip Systems, Other LAA Closure Devices
5) By Other Products: Septal Defect Closure Devices, Endovascular Closure Devices, Other Specialty Closure Devices
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Who are the dominant players expanding their reach in the heart closure devices market?
Major companies operating in the heart closure devices market are Abbott Laboratories, Medtronic plc, Boston Scientific Corp., Lepu Medical Technology Ltd., Terumo Corporation, Edwards Lifesciences, Teleflex Incorporated, Merit Medical Systems Inc., Cordis Corporation, AtriCure Inc., Lifetech Scientific Corp., Sahajanand Medical Technologies, W. L. Gore And Associates Inc., Occlutech GmbH, NMT Medical Inc., Sorin Group Italia S.p.A., Vivasure Medical Limited, B Braun Interventional Systems, HeartStitch Inc., MicroPort Scientific Corporation
How are evolving market trends shaping heart closure devices Strategies?
Major companies operating in the heart closure devices market are focusing on developing technologically advanced solutions, such as patent foramen ovale occlusion systems, to improve patient outcomes and reduce procedural complications. Patent foramen ovale (PFO) occlusion systems are medical devices used to close a persistent opening in the heart, known as a PFO, which is a hole between the right and left atria that should have naturally closed after birth but remains open. For instance, in September 2022, Abbott Laboratories, a US-based medical devices company, launched the Amplatzer Talisman PFO Occlusion System. This innovative device is designed to treat individuals with PFO, particularly those who have experienced a stroke and are at a heightened risk of recurrence. The system features a pre-attached occluder for streamlined procedures, a versatile 30mm size for better adaptability, and a fully recapturable design, ensuring effective PFO closure to lower the risk of future strokes.
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Which regions are emerging as leaders in the heart closure devices market?
North America was the largest region in the heart closure devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heart closure devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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