Global Congenital Heart Defect Devices Market Share 2024, Forecast To 2033
8 Oct, 2024
The congenital heart defect devices market size has grown strongly in recent years. It will grow from $2.72 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growth in healthcare awareness campaigns, increasing number of heart defect screening programs, growth in medical device regulations, increasing prevalence of congenital heart defect, and increase in the risk of organ failure. The congenital heart defect devices market size is expected to see strong growth in the next few years. It will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing clinical trials, a surge in the geriatric population, an increasing prevalence of congenital heart defects, rising government support and funding, and an increasing number of specialized medical centers. Major trends in the forecast period include technological advancements, digital health technologies, personalized medicine, 3D printing technology, and wearable devices.
Global Congenital Heart Defect Devices Market Key Driver
The increasing number of minimally invasive procedures is expected to propel the growth of the congenital heart defect device market. These procedures involve surgical interventions with small incisions or through natural body openings, using specialized tools to minimize trauma and enhance recovery. The rise in such procedures is attributed to advancements in technology, patient preferences for less invasive treatments, improved surgical techniques, and the benefits of reduced recovery times and complications. Congenital heart defect devices are utilized in these minimally invasive procedures to aid in the diagnosis, treatment, and management of heart abnormalities through smaller incisions or catheter-based approaches. For instance, in 2022, the American Society of Plastic Surgeons reported that there were 23,672,269 cosmetic minimally invasive procedures performed in the United States, reflecting a 7% increase compared to previous years. Therefore, the growing prevalence of minimally invasive procedures is significantly driving the congenital heart defect devices market.
Get A Free Sample Of The Congenital Heart Defect Devices Market ReportGlobal Congenital Heart Defect Devices Market Segments
The congenital heart defect devices market covered in this report is segmented –
1) By Device Type: Catheters, Pacemakers, Single-Chamber Pacemakers, Dual-Chamber Pacemakers, Biventricular Pacemakers, Leadless Pacemakers, Implantable Cardioverter Defibrillators, Biventricular Devices, Implanted Cardiac Loop Recoders, Other Device Types
2) By Defect Type: Atrial Septal Defect, Ventricular Septal Defect, Atrioventricular Septal Defect, Tricuspid Atresia, Truncus Arteriosus, Other Defect Types
3) By End user: Hospitals, Specialty Clinics, Academic And Research Institute, Other End Users
By Geography:The regions covered in the congenital heart defect devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the congenital heart defect devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Congenital Heart Defect Devices Industry Players
Pfizer Inc., Johnson & Johnson, AstraZeneca plc., Abbott Laboratories, GlaxoSmithKline plc., Medtronic plc., Philips Healthcare, Boston Scientific Corporation, W. L. Gore & Associates Inc., Masimo Corporation, Lepu Medical Technology (Beijing) Co. Ltd., MicroPort Scientific Corporation, Stereotaxis Inc., Berlin Heart GmbH, Ventracor Limited, Syncardia Systems LLC, On-X Life Technologies Inc., Occlutech Holding AG, Sahajanand Medical Technologies Pvt. Ltd., Response Biomedical Corporation, Xeltis AG, Procyrion Inc., Heartstitch Inc., Cardia Inc., OSYPKA Medical GmbH
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Congenital Heart Defect Devices Market Overview
Congenital heart defect devices refer to specialized medical instruments and implants designed to correct or manage heart abnormalities present at birth. They are used for diagnosing, treating, and supporting the heart's function in individuals with congenital heart defects, helping restore normal blood flow and improve cardiac function.
Congenital Heart Defect Devices Global Market Report 2023 provides data on the global congenital heart defect devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The congenital heart defect devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.