The global septal occluder devices market has been experiencing significant growth due to various factors such as the rise in prevalence of stroke, increase in the geriatric population, and the expanding number of interventional cardiologists. The market is also being driven by the increasing prevalence and incidence of cardiovascular diseases worldwide, as well as technological advancements in occlusion devices.
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The rise in the number of interventional cardiologists, especially in the U.S. and Europe, along with technological advancements in image-guided interventions, has simplified surgical procedures and increased the patient pool, thereby driving the market. Furthermore, the increasing prevalence of lifestyle habits such as smoking, obesity, and dietary irregularities has led to a rise in cardiovascular diseases globally, further boosting the demand for septal occluder devices.
The COVID-19 pandemic has marginally hampered the expansion of the global septal occluder devices market, particularly affecting the geriatric population who are more prone to the virus. However, governments of developing countries are making significant investments to modernize healthcare infrastructure, which is expected to increase access to healthcare and subsequently drive the demand for septal occluder devices.
North America is projected to account for a large share of the global septal occluder devices market, followed by Europe and Asia Pacific. The presence of key companies offering cardiac medical devices and technological advancements are driving the market in North America, while the rise in demand for septal occluder devices and changing lifestyles are contributing to the market growth in Europe. In Asia Pacific, the market is being driven by a significant increase in the number of cardiac procedures, rapid adoption of medical technologies, and a surge in the number of patients suffering from cardiac diseases, obesity, and diabetes.
Key players operating in the global septal occluder devices market include Abbott, W. L. Gore, Lifetech Scientific, pfm medical ag, Occlutech, Lepu Medical Technology (Beijing) Co., Ltd., and MicroPort Scientific Corporation, among others.
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