Left Atrial Appendage Closure Devices Market Size By Product (Endocardial LAA Devices, Epicardial LAA Devices), By Procedure (Percutaneous, Surgical), By End-use (Hospitals, Ambulatory Surgical Centres), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: May 2020  |  Report ID: GMI3960  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 150   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Left Atrial Appendage Closure Devices Market exceeded USD 0.5 billion in 2019 and is estimated to grow at a CAGR of over 23% between 2020 and 2026. Left atrial appendage (LAA) is a small sized, ear shaped sac located in the muscle wall of left atrium. LAA closure is a minimally invasive technique that assists in lowering the risk of stroke. The high-risk stroke arises as an outcome of atrial fibrillation. Left atrial appendage closure devices such as WATCHMAN device, Amplatzer plug device are used to reduce the possibility of blood clots, thereby preventing the stroke. The device transplantation is usually achieved under anaesthesia with trans-esophageal echo guidance.
 

Left Atrial Appendage Closure Devices Market

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Growing geriatric population and increasing occurrence of atrial fibrillation across the globe are some of the major factors boosting the market growth. Also, increasing government initiatives to generate awareness about cardiovascular diseases and presence of technologically developed products are some of the significant factors boosting the market demand for left atrial appendage closure devices over the analysis timeframe.
 

Left Atrial Appendage Closure Devices Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 481.4 Million (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Pages: 150 Tables, Charts & Figures: 390
Geographies covered (18): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, South Korea, Brazil, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Product, Procedure and End-use
Companies covered (6): Abbott, Articure, Boston Scientific, Johnson and Johnson, Lifetech Scientific, Occlutech
Growth Drivers:
  • Growing ageing population
  • Increasing prevalence of atrial fibrillation
  • Strong product pipeline
  • Increasing government initiatives
  • Technological advancements
Pitfalls & Challenges:
  • Presence of alternate technologies
  • High cost of LAA closure devices

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Growing number of people with atrial fibrillation will result in enhancing the market growth

Rising focus of the government in raising awareness about cardiac arrhythmias will contribute to the left atrial appendage closure devices market growth. The adoption rate of the left atrial appendage closure devices has increased over the past few years owing to the presence of major patient pool suffering from cardiac rhythm abnormalities. For instance, according to a recently published data, in 2017, over 2.3 million people in the U.S. suffered from atrial fibrillation and has resulted in the increased risk of stroke and mortality. Hence, in order to prevent the risk of stroke and reduce the possibility of blood clots, the demand for the left atrial appendage closure devices will increase.
 

Some of the major players operating in the industry such as Boston Scientific Corporation, AtriCure Inc., Abbott and Occlutech have implemented certain strategic initiatives that will enhance the growth of left atrial appendage closure device industry. Presence of large patient pool suffering from atrial fibrillation will further contribute into the market growth. Hence, key players implementing several strategies will be one of the major factors boosting the market growth.
 

Several benefits of epicardial LAA closure device will boost the product demand, thereby augmenting the market growth

Left Atrial Appendage Closure Devices Market

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The epicardial left atrial appendage closure devices segment was valued at around USD 94 million in 2019 and is predicted to expand at a significant rate. The high market growth of epicardial left atrial appendage closure devices is owing to its ability to negate the need of implanting a permanent device. Moreover, these devices do not require anticoagulation post-procedure. Thus, owing to the benefits of epicardial left atrial appendage closure devices, the market will showcase a lucrative growth over the forecast period.
 

Various surgical approaches to LAA occlusion will drive the segment growth, thereby spurring the market growth

The surgical procedure segment held market share of around 16% in 2019. Owing to the availability of different surgical approaches to LAA occlusion such as suture exclusion, stapler excision, epicardial exclusion clips and suture loops, the segment is expected to witness a significant growth, thereby spurring the market expansion. These procedures play a vital role in preventing thrombus formation at the time of LAA occlusion. Hence, aforementioned factors will enhance the segmental market growth thereby, boosting the need for left atrial appendage closure devices.
 

Low cost and minimal risk of infection in the ambulatory surgical centers will enhance the market growth

Left Atrial Appendage Closure Devices Market Share

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The ambulatory surgical centre segment held a market share of around 20% in 2019 and is projected to grow at a significant growth rate over the analysis timeframe. Owing to the factors including minimal risk of infection as compared to hospitals and low cost of surgical procedures, the ambulatory surgical centres will show a lucrative market growth in the upcoming years.
 

Rapid growth in the number of patients suffering from arrhythmias in the Canada will boost the regional growth

Canada left atrial appendage closure devices market is anticipated to grow at a CAGR of more than 22% in the projected years. The high growth rate is attributed to the continuously growing number of patients suffering from atrial fibrillation coupled with other arrhythmias.
 

According to the Heart and Stroke Foundation of Canada, atrial fibrillation affects over 200,000 Canadians. Also, according to the Canadian Task Force on Preventive Health, the incidence rate of atrial fibrillation in Canada is approximately up to 4.5% per year. Thus, there is a high risk of atrial fibrillation in the country that will boost the demand for the LAA closure devices that in turn will boost the market growth. Additionally, growing prevalence of diseases such as diabetes, high blood pressure and cardiac rhythm disorders in Canada will augment the demand for the left atrial appendage closure devices, thereby fueling the market growth.
 

France left atrial appendage closure devices market was valued at USD 18.2 million in 2019 and is expected to showcase a significant growth over the analysis timeframe. Increasing occurrence of atrial fibrillation in the country will contribute to the market growth. For instance, as per the recently published data, it is estimated that there are between 110,000 and 230,000 new cases of atrial fibrillation each year in the country. This in turn will trigger the high penetration of LAA closure devices in the country. Hence, increase in number of patients suffering from atrial fibrillation coupled with growing geriatric population across the country will augment the industry growth.
 

Implementation of several strategies such as strategic acquisitions and partnerships by the major market players

The few notable companies in left atrial appendage closure device market share are Boston Scientific Corporation, AtriCure Inc., Abbott, Occlutech, Lifetech Scientific, Cardia, Inc., Aegis Medical and Johnson and Johnson among others. These major industry players are concentrating on new strategies such as new product development, product launch, mergers, strategic acquisitions, collaborations and partnerships.
 

Recent industry developments:

  • In February 2020, Abbott received U.S. Food and Drug Administration (FDA) approval for its new trial to assess its Amplatzer Amulet Left Atrial Appendage Occluder for people with atrial fibrillation. This move will expand the access to minimally invasive options for structural heart diseases.
     
  • In August 2019, AtriCure completed the acquisition of SentreHEART, Inc. that develops percutaneous left atrial appendage management solutions. This strategic acquisition will help AtriCure to increase their product portfolio thereby, expanding the market share
     

The left atrial appendage closure devices industry research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2015 to 2026, for the following segments:

By Product

  • Endocardial LAA closure devices
  • Epicardial LAA closure devices

By Procedure

  • Percutaneous
  • Surgical

By End-use

  • Hospitals
  • Ambulatory Surgery Centres
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Argentina 
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE  

 

Frequently Asked Questions (FAQ) :

Canada market is anticipated to grow at 22% CAGR through 2026, says a GMI report.
The surgical procedure segment held a market share of around 16% in 2019.
The epicardial left atrial appendage closure devices segment was valued at around USD 94 million in 2019.

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Premium Report Details

  • Published Date: May 2020
  • Pages: 150
  • Tables: 376
  • Charts / Figures: 14
  • Companies covered: 6
  • Countries covered: 18

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