Heart Closure Devices Market - By Product (Atrial Septal Defect (ASD) Closure Devices, Left Atrial Appendage (LAA) Closure Devices), By Material (Nitinol-based Devices, Stainless Steel Devices), Mode of Delivery, End-use & Forecast, 2023 – 2032

Heart Closure Devices Market Size

Heart Closure Devices Market size was valued at USD 2.2 billion in 2022 and is estimated to witness 12.2% CAGR from 2023 to 2032, attributed to the various factors comprising the increasing prevalence of cardiovascular diseases, growing adoption of minimally invasive procedures, rising demand for transcatheter interventions, etc. The rising incidence of cardiovascular diseases, such as coronary artery disease and structural heart defects, is expected to drive the demand for heart closure devices. This trend is fuelled by factors comprising sedentary lifestyles, unhealthy diets, and an aging population.
 

Minimally invasive procedures are gaining popularity due to their advantages over traditional open-heart surgeries. Heart closure devices play a crucial role in these procedures by providing efficient and effective closure of structural defects or access sites, reducing the need for large incisions, and promoting faster recovery times for patients. Similarly, the heart closure devices market is expanding in emerging economies due to improving healthcare infrastructure, rising healthcare awareness, and increasing affordability. These variables offer significant growth opportunities for companies involved in manufacturing and distributing heart closure devices.

Heart closure devices, also known as occluders or septal occluders, are medical devices used to close abnormal openings in the heart, particularly atrial or ventricular septal defects. These defects are congenital conditions where there are abnormal openings between the chambers of the heart, allowing blood to flow in unintended directions.
 

However, the potential complications and adverse events related to heart closure devices may hamper the heart closure devices market growth. These can include device dislodgement, migration, fracture, or embolization. These complications may require additional interventions or surgery to retrieve or reposition the device. In some cases, blood clots may form on the surface of the device or in the area surrounding it. These clots can potentially lead to stroke, heart attack, or other ischemic events if they dislodge and travel to other parts of the body. Some individuals may experience allergic reactions to the materials used in heart closure devices, particularly if they have a known allergy to certain metals or other components.
 

COVID-19 Impact

The COVID-19 pandemic has had a negative impact on the heart closure devices markets. During the pandemic, healthcare systems worldwide faced immense pressure due to the surged number of COVID-19 cases. As a result, many routine and non-urgent medical procedures including heart closure device implantation procedures were delayed or postponed. This delay in diagnosis and treatment had an impact on the demand for heart closure devices. Non-essential surgeries and treatments were delayed prioritizing COVID-19 patients. This had led to decreased utilization of products during the pandemic. The global medical device supply chain experienced disruptions during the pandemic and these disruptions had led to delays in the production, distribution, and availability of heart closure products, impacting market demand. 
 

However, in 2021, the technological advancements and incorporation of advanced imaging techniques have augmented target disease diagnosis and treatment compliance and promoted the acceptance of products. In addition, some of the procedures if not performed on time may lead to the death of patients. Hence, despite the coronavirus crisis, such emergency procedures were performed in healthcare facilities across the world. Furthermore, focused efforts were being undertaken by numerous hospitals, cardiologists, and healthcare authorities to restore the flow of cardiovascular procedures.
 

Heart Closure Devices Market Trends

Heart closure devices have witnessed significant technological advancements in recent years. Novel bioabsorbable closure devices are designed to provide temporary support for wound closure and subsequently degrade or absorb within the body. These devices eliminate the need for a second procedure to remove sutures or metal clips, reducing patient discomfort and the risk of complications. Magnetic closure devices are an emerging technology for closing surgical incisions in cardiovascular procedures. These devices use magnets to hold the edges of an incision together, allowing for a less invasive closure method compared to traditional sutures or staples. The magnets can be adjusted externally, allowing for precise control over the closure.
 

Magnetic closure devices have the potential to reduce scarring and promote faster wound healing. Moreover, suture-mediated closure devices have been developed to facilitate the closure of large arterial access sites after minimally invasive cardiac procedures. These devices consist of a collagen plug or other materials that are deployed at the site of arterial puncture. Suture-mediated closure devices provide a secure closure and can potentially reduce the time required for post-procedure bed rest. Overall, technological advancements hold promise in improving heart closure devices performance efficiently.
 

Heart Closure Devices Market Analysis

The heart closure devices market from left atrial appendage (LAA) closure devices segment is set to reach USD 2.9 billion by 2032, owing to the several advantages associated with these devices in the heart closure treatment procedures.  The primary advantage of LAAC devices is the significant reduction in the risk of stroke. LAAC devices provide an alternative to long-term anticoagulant therapy, such as warfarin or direct oral anticoagulants (DOACs). These medications are often associated with potential bleeding complications, drug interactions, and regular monitoring requirements. This is particularly advantageous for patients that are at high risk of bleeding due to various factors, such as advanced age, history of gastrointestinal bleeding, or concomitant use of other medications.
 

Moreover, LAAC devices can be implanted using minimally invasive techniques, such as percutaneous transcatheter approaches. This procedure is less invasive than open-heart surgery, resulting in shorter hospital stays, faster recovery times, and reduced post-operative complications.
 

The heart closure devices market from nitinol-based devices segment accounted for USD 1.1 billion revenue in 2022, due to the super elasticity and excellent biocompatibility associated with the nitinol-based heart closure devices. Nitinol allows heart closure devices to be compressed into a delivery catheter for minimally invasive procedures. Its super elasticity enables the device to withstand the dynamic forces and movements within the heart while maintaining its shape and function. In addition to nitinol, other materials such as polyester or polytetrafluoroethylene (PTFE) patches may also be used in conjunction with the closure devices to provide additional support and reinforce the closure. However, nitinol remains the primary material used in the design and construction of heart closure devices due to its unique properties and suitability for cardiovascular applications.
 

The heart closure devices market size from transcatheter delivery devices segment held over USD 1.4 billion in 2022. Transcatheter delivery is a less invasive approach compared to open-heart surgery. It involves making small incisions or punctures in the skin rather than a large incision in the chest. This leads to smaller scars, less pain, reduced risk of infection, and shorter recovery times. Transcatheter closure procedures generally result in a quicker recovery period compared to open-heart surgery.
 

Transcatheter procedures have observed to be associated with lower risks of complications such as the risks of infection, bleeding, and other surgical complications. Furthermore, transcatheter closure procedures are particularly beneficial for elderly patients and those with other health conditions. Transcatheter delivery allows these patients to undergo treatment with reduced risks and faster recovery times. As a result, several advantages associated with the transcatheter delivery in heart closure procedures will drive the segment revenue growth.
 

Heart closure devices market from hospitals segment is poised to exceed USD 3.2 billion by 2032. The soaring use of novel heart closure devices in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of devices for performing these procedures with proven accuracy is set to drive product preference in hospitals. Growing admissions with cardiac ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively. Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective diagnosis coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals, thereby propelling the segment revenue growth.
 

U.S. heart closure devices market is anticipated to cross USD 2.7 billion by 2032, owing to several factors such as the presence of major companies, an upsurge in the demand for heart closure procedures, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others. As per the American Heart Association data 2022, the age adjusted death-rate attributable to cardiovascular diseases was 224.4 per 100,000 population. Additionally, in 2020, coronary heart disease (41.2%) was the leading cause of deaths followed by stroke (17.3%), heart failure (9.2%), etc. in the U.S.
 

These adverse events are anticipated to upsurge the adoption rate of cardiovascular devices for better CVD management. Moreover, the U.S. is one of the leading nations in terms of heart care initiatives and the government has employed several guidelines to bolster heart comprising the Million Hearts initiative. These initiatives adopted by the public as well as private organizations would further promote the product demand to maintain precise heart health and physical & mental wellbeing among cardiac patients.
 

Heart Closure Devices Market Share

Some of the major companies operating in the heart closure devices market are:

• Abbott Laboratories
• AtriCure Inc
• Biosense Webster Inc
• Boston Scientific Corporation,
• Cardia, Inc.

Major companies are adopting strategic formulations such as forward integration, new product development, geographical expansion, and research collaborations to garner maximum industry share and promote company growth.
 

Heart Closure Devices Industry News:

• In September 2022, Abbott announced the European launch of Amplatzer Talisman System to close hole in heart for people at risk of recurrent stroke. Abbott's Talisman system seals an opening in the heart known as a patent foramen ovale (PFO) to prevent blood clots from passing from the right to the left side of the heart and on to the brain, where they can cause a stroke. Thus, this product launch assisted the company in strengthening its market presence in the Europe.
   
• In July 2020, Boston Scientific received the U.S. FDA approval for next-generation WATCHMAN FLX Left Atrial Appendage Closure Device. This stroke risk reduction technology designed to advance procedural performance and safety, treat wider range of patients with non-valvular atrial fibrillation. The next-generation WATCHMAN FLX device is indicated to reduce the risk of stroke in patients with non-valvular atrial fibrillation (NVAF) that need an alternative to oral anticoagulation therapy by permanently closing off the left atrial appendage. This approval assisted the company in augmenting its heart closure devices product portfolio.
   

This heart closure devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) and volume (Units) from 2018 to 2032 for the following segments:

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Market, By Product

• Atrial Septal Defect (ASD) Closure Devices
• Ventricular Septal Defect (VSD) Closure Devices
• Patent Foramen Ovale (PFO) Closure Devices
• Left Atrial Appendage (LAA) Closure Devices
• Others

Market, By Material

• Nitinol-based Devices
• Stainless Steel Devices
• Others

Market, By Mode of Delivery

• Transcatheter Delivery
• Surgical Delivery

Market, By End-use

• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Cardiac Catheterization Laboratories
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Iran
  • Turkey