The atrial septal defect from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Atrial Septal Defect Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The atrial septal defect market size has grown strongly in recent years. It will grow from $3.85 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rise in number of congenital heart disease cases, increased funding for research and development of ASD treatments, high awareness about congenital heart defects among parents and healthcare providers, higher rates of pediatric surgeries, approval of new ASD closure devices and therapies by regulatory bodies like the FDA, expansion of healthcare facilities.
The atrial septal defect market size is expected to see strong growth in the next few years. It will grow to $5.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increased use of telemedicine for pre and post-operative care, growth in personalized treatment plans based on genetic and phenotypic data, continued increase in global healthcare spending, particularly in emerging markets, growing elderly population leading to a higher incidence of congenital heart defects being diagnosed later in life international harmonization of medical device regulations improving global market penetration, implementation of national and international health programs targeting early detection and treatment of congenital heart diseases. Major trends in the forecast period include development of new, minimally invasive ASD closure devices, the use of AI and machine learning for improved diagnosis and personalized treatment planning, introduction of biodegradable and bioresorbable materials for device manufacturing, AI-driven tools for real-time monitoring and decision support during ASD procedures, adoption of remote monitoring technologies to track patient recovery and detect complications early.
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Scope Of Atrial Septal Defect Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Atrial Septal Defect Market Overview
Market Drivers –
The prevalence of congenital heart defects (CHD) is expected to propel the growth of the atrial septal defect market going forward. Congenital heart defects refer to structural abnormalities in the heart present at birth. The increasing prevalence of congenital heart defects refers to the growing number of individuals diagnosed with structural heart abnormalities present from birth. Atrial septal defect treatment helps manage congenital heart defects by correcting abnormal blood flow between the heart’s chambers, improving overall heart function, and reducing associated complications. For instance, in June 2024, according to the Australian Institute of Health and Welfare, an Australia-based national agency, in Australia, approximately 65,000 children and adults are living with congenital heart disease. In the 2020–21 period, there were about 5,900 hospitalizations where congenital heart disease was the primary diagnosis, accounting for 79 deaths in infants under one year old, representing 7.8% of all infant deaths. Therefore, the prevalence of congenital heart defects will drive the atrial septal defect market.
Market Trends –
Major companies operating in the arterial septal defect market are developing advanced devices and seeking approval to increase their availability and uses. Device approval refers to obtaining official authorization or certification for a device, typically from a regulatory body or relevant authority, before it can be legally manufactured, sold, or used in a specific market or for a particular purpose. For instance, in March 2024, Occlutech GmbH, a Sweden-based specialist provider of minimally invasive cardiac devices, announced that the United States Food and Drug Administration (FDA) had approved the Occlutech ASD Occluder and Occlutech Pistol Pusher for treating atrial septal defects (ASD). This approval marks a significant milestone for the company, which has been working to advance healthcare globally. The Occlutech ASD Occluder is designed to be a lifelong solution for patients with echocardiography-confirmed defects. It is a self-expanding nitinol device that includes two flexible discs attached to both sides of the patient’s atrial septum using the Occlutech Pistol Pusher. With this approval, Occlutech will begin commercialization in the US through an exclusive partnership with B. Braun Interventional Systems.
The atrial septal defect market covered in this report is segmented –
1) By Treatment Procedure: Surgical Closure, Transcatheter Closure, Hybrid Procedures, Medication Therapy
2) By Diagnosis: Chest X-Ray, Electrocardiogram, Cardiac Catheterization, Transesophageal Echocardiography, Pulse Oximetry
3) By Product Type: Medical Devices, Pharmaceutical Products
4) By Age Group: Pediatric, Adult
5) By End-User: Hospitals, Ambulatory Surgical Centers, Cardiac Clinics, Other End-Users
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Regional Insights –
North America was the largest region in the atrial septal defect market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the atrial septal defect market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the atrial septal defect market are Abbott Laboratories, Medtronic plc, Siemens Healthineers, Boston Scientific Corporation, Philips Healthcare, Edwards Lifesciences Corporation, W. L. Gore & Associates Inc., St. Jude Medical LLC, Cook Medical, Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, Lifetech Scientific Corporation, Venus Medtech Hangzhou Inc, Occlutech Holding AG, Coherex Medical, Osypka AG, Arjo AB, Heart Medical Europe BV, AtriCure Inc., Asklepion Pharmaceuticals LLC
Table of Contents
1. Executive Summary
2. Atrial Septal Defect Market Report Structure
3. Atrial Septal Defect Market Trends And Strategies
4. Atrial Septal Defect Market – Macro Economic Scenario
5. Global Atrial Septal Defect Market Size and Growth
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32. Global Atrial Septal Defect Market Competitive Benchmarking
33. Global Atrial Septal Defect Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Atrial Septal Defect Market
35. Atrial Septal Defect Market Future Outlook and Potential Analysis
36. Appendix
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