The Anular Closure Device Market is expected to register a CAGR of 4.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Product Type (Suturing System, Surgical Mesh, Reherniation Reduction Device). The report further presents analysis based on the End User (Hospitals, Ambulatory Surgical Centers, Spine Surgery Centers). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Anular Closure Device Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Anular Closure Device Market Segmentation
Product Type- Suturing System
- Surgical Mesh
- Reherniation Reduction Device
- Hospitals
- Ambulatory Surgical Centers
- Spine Surgery Centers
Strategic Insights
Anular Closure Device Market Growth Drivers- Increasing Cardiovascular Diseases: Increasing incidence of cardiovascular diseases, especially those that require interventions like ASD and PFO clogs, are on the rise. With more patients asking for minimally invasive treatments, it is ever-growing to drive demand for anular closure devices as care providers adopt such methods to improve patient outcomes and speedy recovery.
- Technological Advancements: Designs and materials for the anular closure device have improved in terms of efficacy and safety. Newer designs have more advanced delivery systems, superior biocompatibility, fewer complications, and thus greater appeal to health care providers and patients. Technological advancement is an important growth driver for the market.
- Increased Demand for Minimally Invasive Surgeries: Minimally invasive surgical techniques in cardiology have gained huge acceptance and increased their application, since it leads to minimal periods of recovery time and shorter periods of stay in hospitals. The anular closure device, therefore, falls well within this trend, as it promised to bring an efficient cardiac defect-closing solution without open-heart surgery, thereby heightening the demand for it in the market.
- Customized Solutions: Devices are tailored to specific patient anatomies and conditions in developed countries which is seen to be a major trend in this market. Customization improves the device's performance as well as the outcome for the patient, making it increasingly important for manufacturers to develop solutions tailored to individual needs and boost patients' confidence.
- Strong Pipeline Portfolio: The number of clinical trials and research increases due to the need for the safety and efficacy validation of the newly designed devices for anular closure. Researches about innovation in new products are continuously in the pipeline, and soon, more products will be entering this market, thereby increasing its scope. Companies are strengthening their pipeline portfolio with novel solutions in this space.
- Growing knowledge and training programs: The knowledge about anular closure procedures is growing. As it extends, training for health care professionals becomes more common as part of educational programs among clinicians. This trend increases adoption rates and, accordingly, facilitates overall procedural outcomes in cardiology and is expected to boost the market growth in near future.
- Emerging Markets: There are tremendous opportunities for anular closure device manufacturers to expand further in emerging markets' healthcare infrastructure. Rising awareness about cardiovascular diseases, besides the availability of advanced medical technologies, would continue to fuel demand for products such as anular closure devices in Asian-Pacific and Latin American regions.
- Collaborations and Partnerships: Strategic partnership with hospitals, research institutes and medical device companies is bound to spearhead innovation in the anular closure devices. This will enable the development of advanced products, deeper market penetration, and improved clinical outcome through shared expertise and resources. Further, the alliances with right stakeholders can strengthen the supply chain of manufacturers
- Rapid expansion to new indications: Signifies significant potential expansion for anular closure device, in other cardiovascular conditions beyond their current uses. It allows the companies to enter new populations of patients and increase market share, thereby gearing growth and innovation in the industry.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Anular Closure Device Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Anular Closure Device Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The anular closure devices market is estimated to grow with a CAGR of 4.5% from 2023 to 2031.
Asia-Pacific region is likely to witness the fastest growth rate during the forecast period.
The market drivers include increasing incidence of cardiovascular diseases and increased demand for minimally invasive surgeries are driving the anular closure devices market
The anular closure devices market majorly consists of players such as Intrinsic Therapeutics, Anulex Technologies, Inc, Magellan Spine Technologies, Inc among others
Increased number of clinical trials and research is likely to remain the key trend during the forecast period.
North America dominated the anular closure devices market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Anular Closure Device Market - By Product Type
1.3.2 Anular Closure Device Market - By End User
1.3.3 Anular Closure Device Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ANULAR CLOSURE DEVICE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ANULAR CLOSURE DEVICE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ANULAR CLOSURE DEVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. ANULAR CLOSURE DEVICE - GLOBAL MARKET OVERVIEW
6.2. ANULAR CLOSURE DEVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ANULAR CLOSURE DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SUTURING SYSTEM
7.3.1. Overview
7.3.2. Suturing System Market Forecast and Analysis
7.4. SURGICAL MESH
7.4.1. Overview
7.4.2. Surgical Mesh Market Forecast and Analysis
7.5. REHERNIATION REDUCTION DEVICE
7.5.1. Overview
7.5.2. Reherniation Reduction Device Market Forecast and Analysis
8. ANULAR CLOSURE DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. AMBULATORY SURGICAL CENTERS
8.4.1. Overview
8.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
8.5. SPINE SURGERY CENTERS
8.5.1. Overview
8.5.2. Spine Surgery Centers Market Forecast and Analysis
9. ANULAR CLOSURE DEVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Anular Closure Device Market Overview
9.1.2 North America Anular Closure Device Market Forecasts and Analysis
9.1.3 North America Anular Closure Device Market Forecasts and Analysis - By Product Type
9.1.4 North America Anular Closure Device Market Forecasts and Analysis - By End User
9.1.5 North America Anular Closure Device Market Forecasts and Analysis - By Countries
9.1.5.1 United States Anular Closure Device Market
9.1.5.1.1 United States Anular Closure Device Market by Product Type
9.1.5.1.2 United States Anular Closure Device Market by End User
9.1.5.2 Canada Anular Closure Device Market
9.1.5.2.1 Canada Anular Closure Device Market by Product Type
9.1.5.2.2 Canada Anular Closure Device Market by End User
9.1.5.3 Mexico Anular Closure Device Market
9.1.5.3.1 Mexico Anular Closure Device Market by Product Type
9.1.5.3.2 Mexico Anular Closure Device Market by End User
9.2. EUROPE
9.2.1 Europe Anular Closure Device Market Overview
9.2.2 Europe Anular Closure Device Market Forecasts and Analysis
9.2.3 Europe Anular Closure Device Market Forecasts and Analysis - By Product Type
9.2.4 Europe Anular Closure Device Market Forecasts and Analysis - By End User
9.2.5 Europe Anular Closure Device Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Anular Closure Device Market
9.2.5.1.1 Germany Anular Closure Device Market by Product Type
9.2.5.1.2 Germany Anular Closure Device Market by End User
9.2.5.2 France Anular Closure Device Market
9.2.5.2.1 France Anular Closure Device Market by Product Type
9.2.5.2.2 France Anular Closure Device Market by End User
9.2.5.3 Italy Anular Closure Device Market
9.2.5.3.1 Italy Anular Closure Device Market by Product Type
9.2.5.3.2 Italy Anular Closure Device Market by End User
9.2.5.4 Spain Anular Closure Device Market
9.2.5.4.1 Spain Anular Closure Device Market by Product Type
9.2.5.4.2 Spain Anular Closure Device Market by End User
9.2.5.5 United Kingdom Anular Closure Device Market
9.2.5.5.1 United Kingdom Anular Closure Device Market by Product Type
9.2.5.5.2 United Kingdom Anular Closure Device Market by End User
9.2.5.6 Rest of Europe Anular Closure Device Market
9.2.5.6.1 Rest of Europe Anular Closure Device Market by Product Type
9.2.5.6.2 Rest of Europe Anular Closure Device Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Anular Closure Device Market Overview
9.3.2 Asia-Pacific Anular Closure Device Market Forecasts and Analysis
9.3.3 Asia-Pacific Anular Closure Device Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Anular Closure Device Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Anular Closure Device Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Anular Closure Device Market
9.3.5.1.1 Australia Anular Closure Device Market by Product Type
9.3.5.1.2 Australia Anular Closure Device Market by End User
9.3.5.2 China Anular Closure Device Market
9.3.5.2.1 China Anular Closure Device Market by Product Type
9.3.5.2.2 China Anular Closure Device Market by End User
9.3.5.3 India Anular Closure Device Market
9.3.5.3.1 India Anular Closure Device Market by Product Type
9.3.5.3.2 India Anular Closure Device Market by End User
9.3.5.4 Japan Anular Closure Device Market
9.3.5.4.1 Japan Anular Closure Device Market by Product Type
9.3.5.4.2 Japan Anular Closure Device Market by End User
9.3.5.5 South Korea Anular Closure Device Market
9.3.5.5.1 South Korea Anular Closure Device Market by Product Type
9.3.5.5.2 South Korea Anular Closure Device Market by End User
9.3.5.6 Rest of Asia-Pacific Anular Closure Device Market
9.3.5.6.1 Rest of Asia-Pacific Anular Closure Device Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Anular Closure Device Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Anular Closure Device Market Overview
9.4.2 Middle East and Africa Anular Closure Device Market Forecasts and Analysis
9.4.3 Middle East and Africa Anular Closure Device Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Anular Closure Device Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Anular Closure Device Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Anular Closure Device Market
9.4.5.1.1 South Africa Anular Closure Device Market by Product Type
9.4.5.1.2 South Africa Anular Closure Device Market by End User
9.4.5.2 Saudi Arabia Anular Closure Device Market
9.4.5.2.1 Saudi Arabia Anular Closure Device Market by Product Type
9.4.5.2.2 Saudi Arabia Anular Closure Device Market by End User
9.4.5.3 U.A.E Anular Closure Device Market
9.4.5.3.1 U.A.E Anular Closure Device Market by Product Type
9.4.5.3.2 U.A.E Anular Closure Device Market by End User
9.4.5.4 Rest of Middle East and Africa Anular Closure Device Market
9.4.5.4.1 Rest of Middle East and Africa Anular Closure Device Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Anular Closure Device Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Anular Closure Device Market Overview
9.5.2 South and Central America Anular Closure Device Market Forecasts and Analysis
9.5.3 South and Central America Anular Closure Device Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Anular Closure Device Market Forecasts and Analysis - By End User
9.5.5 South and Central America Anular Closure Device Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Anular Closure Device Market
9.5.5.1.1 Brazil Anular Closure Device Market by Product Type
9.5.5.1.2 Brazil Anular Closure Device Market by End User
9.5.5.2 Argentina Anular Closure Device Market
9.5.5.2.1 Argentina Anular Closure Device Market by Product Type
9.5.5.2.2 Argentina Anular Closure Device Market by End User
9.5.5.3 Rest of South and Central America Anular Closure Device Market
9.5.5.3.1 Rest of South and Central America Anular Closure Device Market by Product Type
9.5.5.3.2 Rest of South and Central America Anular Closure Device Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ANULAR CLOSURE DEVICE MARKET, KEY COMPANY PROFILES
11.1. INTRINSIC THERAPEUTICS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ANULEX TECHNOLOGIES, INC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MAGELLAN SPINE TECHNOLOGIES, INC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BARRICAID
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KOREAMED SYNAPSE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CENTINEL SPINE LLC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SPINEVISION S.A
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. GENESYS SPINE
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. GLOBAL BIOMEDICA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SPINEGUARD
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Intrinsic Therapeutics
2. Anulex Technologies, Inc
3. Magellan Spine Technologies, Inc
4. Barricaid
5. KoreaMed Synapse
6. Centinel Spine LLC
7. SpineVision S.A
8. Genesys Spine
9. Global Biomedica
10. SpineGuard
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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