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Heart Closure Devices Market Size, Share & Trends Analysis Report By Closure Type (CHD Closure, PFO Closure, LAA Closure), By Region (North America, APAC, Europe, LATAM, MEA), And Segment Forecasts, 2023 - 2030

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    Report

  • 150 Pages
  • November 2022
  • Region: Global
  • Grand View Research
  • ID: 5702097
Description Jump to:
The global heart closure devices market size was valued at USD 7.43 billion in 2030,registering a CAGRof 14.9% over the forecast period. Increasing incidence of Atrial Fibrillation (AF), growing prevalence of congenital heart defects, upsurge in geriatric population, and favorable reimbursement policies are expected to boost the heart defect closure devices demand. Constant new product introductions and approvals along with rapid growth of the healthcare industry across emerging economies will further augment the industry growth during the forecast period. The COVID-19 pandemic affected the industry for FY 2020-21. The operations of the corporations were impacted significantly. Moreover, companies faced disruptions in the supply and increases in the prices of certain raw materials and components.

In addition, elective procedures were postponed during this period.However, the industry picked up in 2021, as companies witnessed higher sales across their business segments compared to the pandemic. Abbott’s medical devices sales revenue grew over 21% to $14.367 billion in 2021 over the last twelve months. The sales increase in 2021 was driven by double?digit growth across all of the company’s Medical Devices divisions, led by Diabetes Care, Structural Heart, and Electrophysiology. Heart defect closure devices is highly competitive and are characterized by extensive research and development and rapid technological change. The buyers consider many factors when choosing suppliers, including product reliability, clinical outcomes, product enhancements, breadth of product portfolio, pricing and product services provided by the manufacturer, and product availability.

As a result, the company’s market share can shift owing to technological innovation and other business factors. In addition, product problems, physician advisories, and safety alerts are anticipated to affect the company’s market share and foothold across the regions during the forecast period. Furthermore, the industry has undergone significant consolidation in recent years. Certain market players have been able to expand their portfolio of products and services through this consolidation process, and they can offer customers a broader array of products and services. For instance, in January 2017, Abbott completed the acquisition of St. Jude Medical, Inc. Thus, establishing the company as a leader in the medical device field. St. Jude Medical's solid positions in atrial fibrillation, structural heart, heart failure, and chronic pain added to Abbott's leading positions in mitral valve disease and coronary interventions.

Heart Closure Devices Market Report Highlights

  • The Left Atrial Appendage Closure (LAAC) devices segment dominated the industry in 2022. Rising awareness campaigns in underserved markets, the growing prevalence of atrial fibrillation, and government initiatives drive the LAAC devise market
  • Patent Foramen Ovale (PFO) market is significantly determined by the high occurrence of ischemic stroke. As per the Centers for Disease Control and Prevention (CDC), each year, more than 795,000 individuals in the U.S. have a stroke. About 87% of all strokes are ischemic strokes
  • The development of Congenital Heart Defect (CHD) Closure devices is expected to be accelerated by the rising incidence of congenital heart disease. For instance, as per the CDC, CHDs affect approximately 1% of?or nearly 40,000?births per year in the U.S.
  • Asia Pacific region is anticipated to register rapid growth in the coming years owing to the presence of high unmet needs coupled with a rapidly increasing geriatric population, availability of products at lower costs, and favorable government support
  • Growing geographic expansion, country-specific approvals, and R&D investments by key companies, as well as the number of innovative product pipelines, are expected to contribute to market growth. In September 2021, Abbott announced that Amplatzer Talisman patent foramen ovale occlusion system has been approved by the U.S. FDA to cure patients with PFO at risk of recurrent stroke


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Table of Contents

Chapter 1 Research Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Segment Scope
1.1.2 Regional Scope
1.1.3 Estimates & Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database:
1.3.2 Gvr’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research:
1.3.5 Details Of Primary Research
1.4 Information Or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.1.1 Approach 1: Commodity Flow Approach
1.6.1.2 Approach 2: Bottom-Up Approach
1.6.1.2 Approach 3: Mixed Flow Approach
1.7 List Of Secondary Sources
1.8 List Of Primary Sources
1.9 Abbreviations
1.10 Objectives
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Outlook
Chapter 3 Heart Closure Devices Market Variables Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraints Analysis
3.4 Heart Closure Devices Market - Porter’s Analysis
3.5 Heart Closure Devices Market- Pestle Analysis
3.6 Regulatory & Reimbursement Framework
3.7 Technology Overview (Past, Present, Future)
3.8 Estimated Pricing Analysis
3.9 Qualitative Market Highlight And Competitive Highlight, By Technique
3.10 Product Pipeline Analysis
3.10.1 Market Development
3.10.1.1 Key Clinical Trials
3.10.1.2 Launch And Emerging Products, By Region
3.11 Covid-19 Impact Analysis
3.11.1 Current And Future Impact Analysis
3.11.2 COVID-19 Financial impact along with Competitors’ insights
3.11.3 Impact of COVID-19 on Market Players
3.11.3.1 Factors and Strategies, by the competitor
3.11.3.1.1 Clinical trial-related Impacts
3.11.3.1.2 Product innovation
3.11.3.1.3 Mergers and Acquisitions
Chapter 4 Competitive Landscape
4.1 Recent Developments & Impact Analysis, By Key Market Participants
4.2 Company/Competition Categorization (Key innovators, market leaders, emerging players)
4.3 Detailed list of distributors
4.4 Public Companies
4.4.1 Market Share Analysis, 2022
4.4.1.1 Estimated Overall Structural Heart Closure Devices Market, By Technique
4.4.1.1.1 Congenital Heart Defect Closure
4.4.1.1.2 PFO Closure
4.4.1.1.4 LAA Closure
4.5 Private Companies
4.5.1 Heat Map Analysis of Notable Players
Chapter 5 Heart Closure Devices Market: Closure Type Analysis
5.1 Closure Type Business Analysis
5.1.1 Congenital Heart Defect Closure
5.1.1.1 Congenital Heart Defect Closure market estimates and forecasts, 2018 - 2030 (USD Million)
5.1.1.2 Atrial Septal Defect (ASD)
5.1.1.2.1 ASD market estimates and forecasts, 2018 - 2030 (USD Million)
5.1.1.3 Patent ductus arteriosus (PDA) (inclusive of PDA closure and embolization coils)
5.1.1.3.1 PDA market estimates and forecasts, 2018 - 2030 (USD Million)
5.1.1.4 Ventricular septal defect (VSD)
5.1.1.4.1 VSD market estimates and forecasts, 2018 - 2030 (USD Million)
5.1.2 Patent Foramen Ovale (PFO) Closure
5.1.2.1 PFO Closure market estimates and forecasts, 2018 - 2030 (USD Million)
5.1.3 Left Atrial Appendage (LAA) Closure
5.1.3.1 LAA Closure market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6 Heart Closure Devices Market: Regional Market Analysis, Closure Type, 2018 - 2030 (USD Million)
6.1 Definition & Scope
6.2 Regional Market Share Analysis, 2022 & 2030
6.3 Regional Market Dashboard
6.4 Regional Market Snapshot
6.5 Market Size, & Forecasts, Volume and Trend Analysis, 2018 to 2030
6.5.1 North America
6.5.1.1 North America Heart Closure Devices Market estimates and forecasts by countries, 2018 - 2030 (USD Million)
6.5.1.2 U.S.
6.5.1.2.1 U.S. Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.1.3 Canada
6.5.1.3.1 Canada Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2 Europe
6.5.2.1 Europe Heart Closure Devices Market estimates and forecasts by countries, 2018 - 2030 (USD Million)
6.5.2.2 U.K.
6.5.2.2.1 U.K. Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2.3 Germany
6.5.2.3.1 Germany Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2.4 France
6.5.2.4.1 France Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2.5 Italy
6.5.2.5.1 Italy Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2.6 Spain
6.5.2.6.1 Spain Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3 Asia Pacific
6.5.3.1 Asia Pacific Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3.2 Japan
6.5.3.2.1 Japan Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3.3 China
6.5.3.3.1 China Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3.4 India
6.5.3.4.1 India Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3.5 Australia
6.5.3.5.1 Australia Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4 Latin America
6.5.4.1 Latin America Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4.2 Brazil
6.5.4.2.1 Brazil Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.4.3 Argentina
6.5.4.3.1 Argentina Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.5 MEA
6.5.5.1 MEA Heart Closure Devices Market estimates and forecasts by countries, 2018 - 2030 (USD Million)
6.5.5.2 South Africa
6.5.5.2.1 South Africa Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.5.3 Saudi Arabia
6.5.5.3.1 Saudi Arabia Heart Closure Devices Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7 Company Profiles
7.1 W. L. Gore & Associates, Inc.
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Strategic Initiatives
7.2 Abbott
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 AtriCure Inc.
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Lifetech Scientific
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Benchmarking
7.4.4 Strategic Initiatives
7.5 Occlutech
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Benchmarking
7.5.4 Strategic Initiatives
7.6 Lepu Medical Technology (Beijing) Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Benchmarking
7.6.4 Strategic Initiatives
7.7 Heartstitch
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Benchmarking
7.7.4 Strategic Initiatives
7.8 SMT
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Product Benchmarking
7.8.4 Strategic Initiatives
7.9 Cardia, Inc.
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.9.4 Strategic Initiatives
7.10 Boston Scientific Corporation
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Benchmarking
7.10.4 Strategic Initiatives
List of Tables
1. List of primary sources
2. List of secondary sources
3. North America Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
4. North America Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
5. U.S. Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
6. U.S. Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
7. Canada Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
8. Canada Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
9. Europe Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
10. Europe Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
11. U.K. Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
12. U.K. Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
13. Germany Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
14. Germany Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
15. France Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
16. France Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
17. Italy Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
18. Italy Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
19. Spain Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
20. Spain Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
21. Asia Pacific Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
22. Asia Pacific Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
23. Japan Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
24. Japan Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
25. China Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
26. China Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
27. India Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
28. India Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
29. Australia Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
30. Australia Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
31. Latin America Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
32. Latin America Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
33. Brazil Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
34. Brazil Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
35. Argentina Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
36. Argentina Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
37. MEA Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
38. MEA Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
39. South Africa Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
40. South Africa Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
41. Saudi Arabia Heart Closure Devices Market, by Closure Type, 2018 - 2030 (USD Million)
42. Saudi Arabia Heart Closure Devices Market, by Congenital Heart Defect Closure Technique, 2018 - 2030 (USD Million)
List of Figures
1. Market summary
2. Market trends & outlook
3. Market segmentation & scope
4. Market driver relevance analysis (Current & future impact)
5. Market restraint relevance analysis (Current & future impact)
6. Penetration & growth prospect mapping
7. SWOT Analysis, By Factor (political & legal, economic, and technological)
8. Heart Closure Devices Porter’s Analysis
9. Heart Closure Devices market, Closure type outlook key takeaways
10. Heart Closure Devices market: Closure type movement analysis
11. Global Congenital Heart Defect Closure market, 2018 - 2030 (USD Million)
12. Global ASD market, 2018 - 2030 (USD Million)
13. Global PDA market, 2018 - 2030 (USD Million)
14. Global VSD market, 2018 - 2030 (USD Million)
15. Global PFO market, 2018 - 2030 (USD Million)
16. Global LAA Closure market, 2018 - 2030 (USD Million)
17. Regional market: Key takeaways
18. Regional outlook, 2022 & 2030
19. North America Heart Closure Devices market, 2018 - 2030 (USD Million)
20. U.S. Heart Closure Devices market, 2018 - 2030 (USD Million)
21. Canada Heart Closure Devices market, 2018 - 2030 (USD Million)
22. Europe Heart Closure Devices market, 2018 - 2030 (USD Million)
23. U.K. Heart Closure Devices market, 2018 - 2030 (USD Million)
24. Germany Heart Closure Devices market, 2018 - 2030 (USD Million)
25. France Heart Closure Devices market, 2018 - 2030 (USD Million)
26. Italy Heart Closure Devices market, 2018 - 2030 (USD Million)
27. Spain Heart Closure Devices market, 2018 - 2030 (USD Million)
28. Asia Pacific Heart Closure Devices market, 2018 - 2030 (USD Million)
29. Japan Heart Closure Devices market, 2018 - 2030 (USD Million)
30. China Heart Closure Devices market, 2018 - 2030 (USD Million)
31. India Heart Closure Devices market, 2018 - 2030 (USD Million)
32. Australia Heart Closure Devices market, 2018 - 2030 (USD Million)
33. Latin America Heart Closure Devices market, 2018 - 2030 (USD Million)
34. Brazil Heart Closure Devices market, 2018 - 2030 (USD Million)
35. Argentina Heart Closure Devices market, 2018 - 2030 (USD Million)
36. MEA Heart Closure Devices market, 2018 - 2030 (USD Million)
37. South Africa Heart Closure Devices market, 2018 - 2030 (USD Million)
38. Saudi Arabia Heart Closure Devices market, 2018 - 2030 (USD Million)
39. Strategy framework
40. Participant categorization

Companies Mentioned

  • W. L. Gore & Associates, Inc.
  • Abbott
  • Atricure Inc.
  • Lifetech Scientific
  • Occlutech
  • Lepu Medical Technology (Beijing) Co. Ltd.
  • Heartstitch
  • Smt
  • Cardia, Inc.
  • Boston Scientific Corporation

Methodology

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