Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) — The “Global Heart Closure Devices Market Analysis & Forecast to 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
Emerging Trends and Technological Advances Propel Growth in Innovative Heart Closure Devices, with North America Leading Regional Contributions
This market analysis report highlights the significant growth within the global heart closure devices market, which is set to expand at an impressive CAGR of 14.92% between 2024 and 2034. This analysis provides insightful trends, drivers, and predictions that are shaping the future of heart closure technologies worldwide.
Advanced Technologies and Expanding Approvals Underpin Market Dynamics
Industry experts underscore the critical role innovative heart closure devices play in the revolutionary shift towards minimally invasive cardiac procedures. With notable developments such as Medtronic plc’s Penditure LAA Exclusion System and advancements in left atrial appendage closure technologies, the market is experiencing a surge in both device sophistication and physician expertise. These elements are instrumental in driving the estimated market size from USD 2.72 billion in 2023 to a remarkable USD 12.57 billion by 2034.
- Material Innovation Spearheads Segment Growth: The nitinol-based devices segment has generated the highest revenue within the market, attributed to its exceptional properties such as super elasticity and biocompatibility which are vital for cardiac interventions.
- Transcatheter Delivery Leads in Adoption: Transcatheter delivery devices have witnessed widespread acceptance due to the lower invasiveness compared to traditional surgeries, catalyzing the segment’s dominance in the market.
- Hospitals as Key End-users: Hospitals remain the primary settings for heart closure procedures, given their critical role in managing complex cardiovascular interventions and the influx of innovative device introductions such as Abbott’s Amplatzer Talisman PFO Occlusion System.
The report further segments and analyzes the market based on closure type, material, mode of delivery, and end-users, offering a comprehensive view of the intricacies of the industry.
Rapid Market Expansion in Asia Pacific and Other Regional Insights
While North America retains a significant share of the market, driven by technological advancements and strategic collaborations, the Asia Pacific region is forecasted to grow at the fastest CAGR during the examined period. This growth is fueled by robust healthcare infrastructure developments, an increasing adoption rate of minimally invasive procedures, and a growing number of regulatory approvals.
|No. of Pages
|Estimated Market Value (USD) in 2023
|Forecasted Market Value (USD) by 2034
|Compound Annual Growth Rate
- Bravado Designs USA
- Pigeon Corporation
- Spectra Baby USA
- Koninklijke Philips N.V.
- AVINCI BABY
For more information about this report visit https://www.researchandmarkets.com/r/scnbib
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.