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Heart Defect Closure Device Market Is Expected to Witness a Steady Growth By 2020
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The global heart closure device market is categorized based on the different types of heart defects. Some of the major heart defects are Left Atrial Appendage (LAA), Atrial Septal Defect (ASD), Patent Foramen Ovale (PFO), Ventricular Septal Defect (VSD) and Patent Ductus Arteriosus (PDA).
In terms of geographic, North America dominates the global heart closure device market. The U.S. represents the largest market for heart defect closure device followed by Canada in North America. However, Asia is expected to show high growth rates in the next five years in global heart defect closure device market due to increasing aging population. Older people are more susceptible towards heart stroke than adults. This would increase the demand of heart closure devices for their treatment. China and India are expected to be the fastest growing heart defect closure device markets in Asia.
In recent time, rising number of arterial fibrillation patients and increasing incidence of CHDs are some of the major drivers for global heart defect closure device market. Increasing incidence of CHDs and rising number of arterial fibrillation patients have led to the demand heart defect closure devices for their treatment. In addition, advancement in heart closure device technology is also fueling the growth of the global heart defect closure device market. However, stringent regulations and high cost involved in manufacturing of devices are some of the key restraints for global heart defect closure device market. In addition, high risk of complications associated with treatment also hampers the growth of global heart defect closure device market.
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Some of the major companies operating in the global heart defect closure device market are Boston Scientific Corp., W.L. Gore and Associates Inc., St. Jude Medical Inc., Biosense Webste, Cardia Inc., LifeTech Scientific, Maquet Cardiovascular, Medtronic, Occlutech Holding AG and Pfm medical.
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