PDA Closure Devices Market Size, Share Report Analysis by Product Type (Stainless Steel, Titanium PDA Closure Devices), by End-User (Hospitals, Clinics) & Regional Forecast 2020-2030
Sales of PDA closure devices are anticipated to grow with a significant CAGR over the forecast. PDA closure devices are the medical devices to cure congenital heart conditions called patent ductus arteriosus (PDA). Patent ductus arteriosus is the opening in between two major blood vessels leading to the heart called ductus arteriosus. Ductus arteriosus is a normal element of infant’s circulatory before birth which naturally closes after birth, however, if it remains open even after the birth, the opening is called patent ductus arteriosus. According to the Centre for Disease Control and Diagnostics (CDC), over 40,000 infants are born with congenital heart diseases in the U.S. alone.
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Patent ductus arteriosus closure devices effectively reduce the risk of mortality by chronic lung complications, heart failure, and brain injuries caused by the PDA. PDA closure devices is effective to close patent ductus arteriosus where the drug therapy fails to close the opening. The global PDA closure devices market is anticipated to grow lucratively due to the advancing PDA closure devices technologies, the advancement of diagnostics and healthcare infrastructure. Coronavirus pandemic has propelled the global PDA closure devices market due to the surging number of atrial fibrillation patients, reduces the dependence on anticoagulation and regular clinic visits for complications such as left atrial appendage (LAA) closure.
PDA Closure Devices Market: Drivers and Restraints
The growth of the global PDA closure devices market is driven by the rapid technological and diagnostics and imaging advancements, improving efficacy to close the patent ductus arteriosus (PDA) opening, self-expandable mesh wire, improving healthcare expenditure and active researches. The key players are developing novel PDA closure devices with the deliberated focus onto advanced technologies with improved efficacy, safety and minimal invasiveness for PDA closure devices in infants. However, the market growth is halted by the risk associated with the PDA closure devices to break through the blood vessels, low survival rate and issues related to its optimal use and positioning and foreign body reactions such as inflammations and high-treatment expenses. Although, the overall global PDA closure devices market is expected to grow in future with the technological and research advancements to leverage the development of advanced PDA closure devices with better efficacy and safety and active ongoing clinical trials promise a lucrative future growth.
PDA Closure Devices Market: Segmentation
The global PDA closure devices market is segmented into product type, end-user and region.
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By the product type, the global PDA closure devices market is further segmented into:
- Stainless Steel
By the end-users, the global PDA closure devices market is further segmented into:
PDA Closure Devices Market: Overview
The global PDA closure devices market is expected to grow lucratively with the advancing technology of PDA closure devices, diagnosis and healthcare expenditure. By product type, titanium dominates the segment with its inert property, safety and its high expenditure. By end-user, hospitals dominate the segment with their massive reliability due to availability of advanced diagnostics and surgical technologies, experienced medical staff and high expenditures.
PDA Closure Devices Market: Regional Outlook
Europe holds the dominance in the global PDA closure devices market with the massive application of PDA closure devices, advanced medical technology, robust R&D, highly-developed healthcare infrastructure and key players. North America holds the second-largest global PDA closure devices market with its advanced healthcare infrastructure and medical technologies. Asia-Pacific PDA closure devices market is the fastest-growing market, fuelled by the massive geriatric population pool, progressing medical technology and research, and the government awareness programmes and its research and healthcare funding.
Latin America PDA closure devices market is growing moderately with its gradually improving healthcare infrastructure and technological improvement, along with growing awareness of congenital heart diseases of the high prevalence of congenital heart defects. The Middle East & Africa PDA closure devices market is stagnant due to the under-developed healthcare in infrastructure and lack of awareness.
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PDA Closure Devices Market: Key Players
The key players of global PDA closure devices market include Abbott, Lifetech, Boston Scientific, Lepu Medical Technology (Beijing) Co., Ltd., Coherex Medical Inc., MicroPort, Occlutech and others.
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Regional analysis includes:
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- Latin America (Mexico. Brazil)
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