Atrial Septal Defect Market Key Trends And Strategies For Expansion 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Atrial Septal Defect Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The atrial septal defect market size has grown strongly in recent years. It will grow from $3.85 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in number of congenital heart disease cases, increased funding for research and development of ASD treatments, high awareness about congenital heart defects among parents and healthcare providers, higher rates of pediatric surgeries, approval of new ASD closure devices and therapies by regulatory bodies like the FDA, expansion of healthcare facilities.

The atrial septal defect market size is expected to see strong growth in the next few years. It will grow to $5.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increased use of telemedicine for pre and post-operative care, growth in personalized treatment plans based on genetic and phenotypic data, continued increase in global healthcare spending, particularly in emerging markets, growing elderly population leading to a higher incidence of congenital heart defects being diagnosed later in life international harmonization of medical device regulations improving global market penetration, implementation of national and international health programs targeting early detection and treatment of congenital heart diseases. Major trends in the forecast period include development of new, minimally invasive ASD closure devices, the use of AI and machine learning for improved diagnosis and personalized treatment planning, introduction of biodegradable and bioresorbable materials for device manufacturing, AI-driven tools for real-time monitoring and decision support during ASD procedures, adoption of remote monitoring technologies to track patient recovery and detect complications early.

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Market Drivers and Trends:

The prevalence of congenital heart defects (CHD) is expected to propel the growth of the atrial septal defect market going forward. Congenital heart defects refer to structural abnormalities in the heart present at birth. The increasing prevalence of congenital heart defects refers to the growing number of individuals diagnosed with structural heart abnormalities present from birth. Atrial septal defect treatment helps manage congenital heart defects by correcting abnormal blood flow between the heart's chambers, improving overall heart function, and reducing associated complications. For instance, in June 2024, according to the Australian Institute of Health and Welfare, an Australia-based national agency, in Australia, approximately 65,000 children and adults are living with congenital heart disease. In the 2020-21 period, there were about 5,900 hospitalizations where congenital heart disease was the primary diagnosis, accounting for 79 deaths in infants under one year old, representing 7.8% of all infant deaths. Therefore, the prevalence of congenital heart defects will drive the atrial septal defect market.

Major companies operating in the arterial septal defect market are developing advanced devices and seeking approval to increase their availability and uses. Device approval refers to obtaining official authorization or certification for a device, typically from a regulatory body or relevant authority, before it can be legally manufactured, sold, or used in a specific market or for a particular purpose. For instance, in March 2024, Occlutech GmbH, a Sweden-based specialist provider of minimally invasive cardiac devices, announced that the United States Food and Drug Administration (FDA) had approved the Occlutech ASD Occluder and Occlutech Pistol Pusher for treating atrial septal defects (ASD). This approval marks a significant milestone for the company, which has been working to advance healthcare globally. The Occlutech ASD Occluder is designed to be a lifelong solution for patients with echocardiography-confirmed defects. It is a self-expanding nitinol device that includes two flexible discs attached to both sides of the patient's atrial septum using the Occlutech Pistol Pusher. With this approval, Occlutech will begin commercialization in the US through an exclusive partnership with B. Braun Interventional Systems.

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Major Key Players of the Market:

Abbott Laboratories, Medtronic plc, Siemens Healthineers, Boston Scientific Corporation, Philips Healthcare, Edwards Lifesciences Corporation, W. L. Gore & Associates Inc., St. Jude Medical LLC, Cook Medical, Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, Lifetech Scientific Corporation, Venus Medtech Hangzhou Inc, Occlutech Holding AG, Medical, Osypka AG, Arjo AB, Heart Medical Europe BV, AtriCure Inc., Asklepion Pharmaceuticals LLC

Atrial Septal Defect Market 2024 Key Insights:

• The atrial septal defect market size is expected to see strong growth in the next few years. It will grow to $5.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Growing Prevalence of Congenital Heart Defects (CHD) Drive Atrial Septal Defect Market Expansion
• Advancements In Occluders For Arterial Septal Defect Treatment
• North America was the largest region in the atrial septal defect market in 2023

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