Patent foramen ovale (PFO) closure devices are used for transcatheter closure of PFO to prevent recurrence of cryptogenic strokes. These devices help seal a flap between the left and right atria of the heart and thus prevents blood clots and other particles from entering systemic circulation and reducing the risk of stroke.
The global Patent Foramen Ovale (PFO) Closure Devices Market is estimated to be valued at US$ 21.14 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Patent Foramen Ovale (PFO) Closure Devices Market is the rising incidences of strokes globally. As per the estimates of World Stroke Organization, every year approximately 17 million people suffer from stroke worldwide. Of these, nearly 30% to 40% of all ischemic strokes are considered cryptogenic, which means no specific cause is identified. PFO is detected as an underlying cause of cryptogenic stroke in 20% to 30% of cases. Thus, growing cases of cryptogenic strokes attributed to PFO is facilitating the adoption of PFO closure devices as they help effectively prevent recurrence of strokes. This in turn is fueling the market growth over the forecast period.
Segment Analysis
The global Patent Foramen Ovale (PFO) Closure Devices market is dominated by the transcatheter-based segment. This is because transcatheter-based closure devices are minimally invasive and more preferred by patients over open surgeries or laser-based closure procedures as they do not require incisions and offer faster recovery. Transcatheter closure devices are deployed using catheter-based techniques through small ports of entry into blood vessels.
Key Takeaways
The global Patent Foramen Ovale (PFO) Closure Devices Market Share is expected to witness high growth during the forecast period of 2024 to 2031. The market is projected to grow at a CAGR of 5.4% during this period. By 2031, the market size is estimated to reach US$ 34.14 Mn, increasing from US$ 21.14 Mn in 2024.
Regional analysis: North America currently dominates the global market and is expected to maintain its position throughout the forecast period. This is due to the rising prevalence of stroke and other cardiovascular conditions in the region. Additionally, the availability of advanced healthcare systems and early adoption of new transcatheter technologies support the growth of the regional market.
Key players: Key players operating in the Patent Foramen Ovale (PFO) Closure Devices market are Hanesbrands, Jockey, Fruit of the Loom, Calvin Klein, Tommy Hilfiger. Hanesbrands leads the market with its Amplatzer PFO Occluder, which is widely used to close patent foramen ovale defects in patients with cryptogenic stroke or migraine headaches.
For more insights, read- https://www.ukwebwire.com/patent-foramen-ovale-pfo-closure-devices-market-trends-size-and-share-analysis/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/plant-based-meat-market-growth.html
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