Patent Foramen Ovale Closure Devices Market Expected to Rise at a CAGR of 3.1% by 2026, Affirms DelveInsight

LAS VEGAS, April 21, 2021 /PRNewswire/ -- DelveInsight's 'Patent Foramen Ovale Closure Devices- Market Insights, Competitive Landscape and Market Forecast -2026' provides the current and forecast market of the Patent Foramen Ovale Closure Devices and comprises of market trends and key competitors of Patent Foramen Ovale Closure Devices. DelveInsight estimated the market to grow at a steady CAGR over the study period of 2018 – 2026. 

Key Highlights of Patent Foramen Ovale Closure Devices Market report:

·  Patent Foramen Ovale Closure Devices are minimally invasive devices that are used for the mechanical closure of the Patent Foramen Ovale. The device incorporation involves using a small occluder device into the heart through the vein.

• The United States Food and Drug Administration (FDA) has granted approval of using these PFO closure devices for PFO closure in patients who have already suffered from a cryptogenic stroke in the past, and the risk levels for another stroke have elevated and need to be controlled.
• According to DelveInsight's analysis, the prevalence of Patent Foramen Ovale Closure Devices patients increases to about 40–50% in patients who have a cryptogenic stroke or stroke of unknown cause.
• According to the estimates, the highest contribution in the market size Patent Foramen Ovale Closure Devices is from the United States (45%), followed by Japan (17%) among the seven major markets.
• The report also provides the estimated patient pool population in the 7MM. In the year 2018, the total prevalent cases of selected indications for Patent Foramen Ovale Closure Devices were 51,434 cases in the 7MM, which might reach 53,250 cases by 2026. The US, in 2018, accounted for 21,226 cases (the highest number), which will probably rise to 22,178 cases by the year 2026.
• On November 9, 2009, the Amplatzer PFO device, constructed by AGA medicals, got its first approval and licensing by the Chinese Regulatory Authorities. On October 28, 2016, the FDA approved the Amplatzer PFO Occluder device for patients under a stroke risk due to PFO. The Amplatzer PFO occlude was the first of its kind device that was approved for PFO closure in patients under the risk of acute ischemic stroke.
• On March 30, 2021, W. L. Gore & Associates (Gore), had published the Gore REDUCE Study long-term follow-up results in the March 2021 issue of The New England Journal of Medicine (NEJM), illustrating the benefits of patent foramen ovale (PFO) closure. The extended follow-up data further supports the benefits of GORE CARDIOFORM Septal Occluder in long-term recurrent stroke prevention.

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Patent Foramen Ovale Closure Devices Market

PFO is amongst the most common forms of congenital heart defects that are encountered on an everyday basis. PFO that persists even after birth is found to be as prevalent as 1 in every 4 births. It has been found to play a major role in patients suffering from ischemic strokes, cryptogenic strokes, and people acquainted with migraines. Needless to say, the closure device industries are taking a profound interest in this segment. 

The Patent Foramen Ovale Closure Devices market size in the 7MM is expected to increase at a CAGR of 3.1% due to the launch of emerging medical devices and upcoming technologies such as the first generation of a light-activated implant for a patent foramen ovale (PFO) by Holistick Medical SAS.

The Amplatzer PFO Occluder (AGA Medicals), Gore Cardioform Septal Occluder (W.L Gore and Associates), and CardiO-Fix Septal Occluder (Starway Medical Technology) are some occluder devices that have recently been approved for the treatment of different types of PFO. The FDA has approved the Amplatzer PFO Occluder for the treatment of PFO. In addition, Gore Cardioform Septal Occluder and CardiO-Fix Septal Occluder have been approved both by the FDA and CFDA to treat PFO.

The Patent Foramen Ovale Closure Devices market is driven by the increasing prevalence of PFO cases, escalating preferences for minimally invasive procedures, safe, technically feasible, and effective, and increasing patient preferences for less- time-consuming procedures across 7MM.

Key Competitors in Patent Foramen Ovale Closure Devices Market:

• Abbott Vascular
• St. Jude Medical, Inc.
• W.L. Gore & Associates, Inc.
• Starway Medical Technology Inc.
• OCCLUTECH GMBH
• Comed BV
• Cardia Inc.
• Lifetech Scientific Corporation
• Heartstitch Inc.
• PFM Medical AG
• Lepu Medical Technology

Know more about the key companies involved @ Patent Foramen Ovale Closure Devices Market Key Companies

Table of Contents

The report provides valuable insight for clients venturing into the  Patent Foramen Ovale Closure Devices and acts as the source of guidance for taking strategic business decisions in the field of  Patent Foramen Ovale Closure Devices by providing a descriptive overview of pathophysiology, various diagnostic approaches, and treatment algorithm including detailed chapters for marketed products and emerging therapies. 

Along with this, the report has a detailed review of the market containing historical and forecasted market size in 7MM, by understanding the trends shaping and driving the global Patent Foramen Ovale Closure Devices Market landscape.

This report has been prepared by DelveInsight's analysts after a thorough secondary and primary research into the Patent Foramen Ovale Closure Devices market. Analysis and estimations are done by taking into consideration the share of topmost companies and industry expert viewpoints of Patent Foramen Ovale Closure Devices and also the prevalent patient population of 7MM countries.

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SOURCE DelveInsight Business Research, LLP