Global Cardiac Closure Occluder Devices Market Anticipated to Reach USD 2,840.3 Million by 2031

According to a recent market study published by Growth Market Reports, titled, Global Cardiac Closure Occluder Devices Market is segmented into by type, age, end-use, and region: Size, Share, Trends and Opportunity Analysis, 2016-2031, the market was valued at USD 1,734.3 Million in 2022 and is expected to grow at a growth rate of 5.9% by the year 2031.

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Cardiac closure occluder devices are miniaturized and mesh-like implants that are used to close abnormal openings in the walls of the heart. These openings are called cardiac defects and occur either at birth or develop later in life. It seals off defects, preventing blood from flowing abnormally between heart chambers. This improves heart function and alleviate symptoms associated with the defect. Type of congenital heart defect treated with cardiac closure occluder devices are Atrial Septal Defect, Patent Foramen Ovale, Ventricular Septal Defect, and Patent Ductus Arteriosus.

On the basis of type, the global cardiac closure occluder devices market is segregated into Patent Foramen Ovale (PFO), Atrial Septal Defects (ASD), Ventricular Septal Defect (VSD), and Patent Ductus Arteriosus (PDA). The Atrial Septal Defects (ASD) segment is projected to expand at a rapid pace during the forecast period, due to the increasing preference for minimally invasive procedures. The Ventricular Septal Defect (VSD) segment is expected to grow at a rapid pace in the coming years, due to medical advancements and improved care for babies and children with VSDs.

Based on the age, the global cardiac closure occluder devices market is segmented into children and adults. The children segment is projected to expand at a rapid pace during the forecast period, due to the increased detection and early intervention of congenital heart defects such as ASDs and VSDs. The adults segment is expected to grow at a rapid pace in the coming years, due to growing public awareness cardiac defects through various campaigns.

In terms of end-use, the global cardiac closure occluder devices market is bifurcated into hospitals and specialty surgical centers. The hospitals segment is projected to expand at a significant pace, as hospitals are often the first point of contact for patients experiencing cardiac defects. Hospitals treat high number of patients with improved operational efficiency. The specialty surgical centers segment is expected to grow at a rapid pace in the coming years, as it excels in cardiac field offering patients with efficient and high-quality care.

The outbreak of Coronavirus disease in(COVID-19) had a negative impact on the global cardiac closure occluder devices market. Global lockdowns and travel restrictions caused delays and shortages in raw materials as well as components needed for device production. This further impacted the availability and potentially increased costs. The impact of COVID-19 on the market was initially negative, leading to short-term disruptions and decline in the demand. However, the long-term outlook appears positive, due to rising awareness of cardiac closure devices to reduce stroke risk in AFib patients.

As per Growth Market Reports analyst, Anuradha More, “Increasing incidence and prevalence of congenital heart defects and rising awareness of closure devices are expected to increase the usage of cardiac closure occluder devices in the coming years.”

Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. Raw materials used for manufacturing cardiac closure occluder devices are shipped to manufacturers to process into final products. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product.

Key Takeaways from the Study:

The players in the Global Cardiac Closure Occluder Devices market include Abbott, Occlutech, W. L. Gore & Associates, Inc, Cardia, LifeTech Scientific Corporation, Lepu Medical Technology (Beijing) Co.,Ltd., Sahajanand Medical Technologies Pvt Ltd.

Report Scope:

Target Audience:

• Supply-side: Manufacturer and distributors.

• Demand Side: Hospitals and Specialty Surgical Centers

• Regulatory Side: Approved regulatory bodies.

• Associations and Industry Bodies: Food and Drug Administration (FDA), World Health Organization (WHO), Public Health Service (PHS), Center for Biologics Evaluation and Research (CBER), International Organization for Standardization (ISO), Department of Health and Human Services (DHHS), Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), & Health Resources and Services Administration (HRSA).