The heart defect closure devices market will register CAGR of over 29% by 2023

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Feb 25, 2019, 19:08 ET

NEW YORK, Feb. 25, 2019 /PRNewswire/ -- About this market
AF is the most commonly encountered arrhythmia in clinical practice. It is associated with increased morbidity, especially stroke and heart failure, and mortality. AF is becoming a major public health burden across the world, and its prevalence is expected to increase due to the rapidly growing geriatric population, especially in developing countries. Other risk factors of AF such as high blood pressure (BP), obesity, diabetes, heart failure, ischemic heart disease, chronic kidney disease (CKD), and the heavy consumption of alcohol are also on the rise. Hence, the rising prevalence of AF will increase the demand for LAA closure therapy. which will drive the growth of the global heart defect closure devices market. Technavio's analysts have predicted that the heart defect closure devices market will register CAGR of over 29% by 2023.

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Market Overview
Technological advances in heart defect closure
There had been several significant technological advances in all forms of cardiovascular care. especially in the treatment of structural heart disease, in the last decade. The advances in catheterization techniques, medical imaging, and devices have increased the adoption of minimally invasive procedures. Therefore, interventional cardiology procedures have now become the standard of care to treat ASD and PFO.
Shortage of skilled surgeons to perform heart defect closure procedures
There is a global shortage of cardiologists, including general cardiologists, electrophysiologists: interventional cardiologists, both coronary and peripheral, and pediatric cardiologists. This shortage is attributed to the aging cardiology community, limited growth in fellowship positions, increasing burden of cardiovascular diseases (CVDs): and evolving health care reforms.
For the detailed list of factors that will drive and challenge the growth of the heart defect closure devices market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately concentrated and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

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