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 Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Sep 2021  |  Report ID: GMI3960  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 150   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Left Atrial Appendage (LAA) Closure Devices Market Size was valued at over USD 408 million in 2020 and is estimated to grow at a CAGR of more than 27.6% between 2021 and 2027. Rising incidence of atrial fibrillation is expected to foster the demand for left atrial appendage closure devices, further boosting the market growth.

 

Left Atrial Appendage Closure Devices Market Overview

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However, availability of alternatives and high cost of left atrial appendage atrial closure devices may negatively impact the market expansion. Oral anticoagulation is the conventional alternative to left atrial appendage closure devices and is extensively preferred in individuals with non-valvular atrial fibrillation. The development of non-vitamin K oral anticoagulants (NOACs) such as rivaroxaban, dabigatran, apixaban, and edoxaban have facilitated the use of oral anti-coagulants among patients that are susceptible to thromboembolic events in stroke management.
 

As per the National Center for Biotechnology Information (NCBI), the Watchmen left atrial appendage closure device has significantly high cost. Thus, the high cost of left atrial appendage closure devices may hamper the product adoption rate. Furthermore, the U.S. FDA regulates the development, marketing approval and post-approval adverse events associated with the medical devices, including the left atrial appendage closure devices. The pre-market approval (PMA) approval process mandates the safety and effectiveness data, patient labelling and physician labelling among other requirements.
 

The COVID-19 outbreak arose as an unprecedented health crisis that has significantly impacted the left atrial appendage closure devices market. The coronavirus pandemic led to cancellation or postponing of non-urgent procedures, including the structural heart (SH) interventional surgeries that have been delayed to reduce the unnecessary patient exposure to COVID-19 and preserve the intensive care units (ICUs) capacity for severe SARS-CoV-2 patients. The limitations regarding the ICU beds and anesthesiology represents a major restriction in performing non-urgent structural heart interventions including left atrial appendage closure procedures, thereby reducing the usage of left atrial appendage closure devices.
 

According to the European Heart Journal, the cardiac interventional procedural volume dropped significantly during the onset of pandemic. Cardiac procedural activity declined across England in the first quarter of 2020, with 45,000 pending procedures. The left atrial appendage occlusion represents a substantial challenge during the COVID-19 pandemic as it is not classified as an urgent structural heart intervention. Moreover, the patients with delayed left atrial appendage occlusion might be exposed to an increased risk for thromboembolic or bleeding events.

Rising prevalence of atrial fibrillation is driving the left atrial appendage closure devices market progression

Rising prevalence of atrial fibrillation is anticipated to augment the need for left atrial appendage closure devices. According to the American College of Cardiology Foundation, in 2017, atrial fibrillation was one the most prevalent atrial arrhythmia in patients suffering from congenital heart disease, accounting for 28.8% in North America. The prevalence atrial fibrillation will surge in the coming years. As per the American Heart Association Journal, in 2020, at least 3 to 6 million people suffer with atrial fibrillation in the U.S. alone, and these figures are projected to reach approximately 6 to 16 million by 2050. A similar trend is observed in Europe, with the prevalence of atrial fibrillation rising from 9 million individuals in 2010 and is set to reach 14 million by 2060 among people aged 55 years and above. The estimates also highlighted that around 72 million individuals in Asia are predicted to be diagnosed with atrial fibrillation and related strokes by 2050. Additionally, the aging population will increase the atrial fibrillation disease burden, as the elderly adults are more susceptible to arrhythmia, ischemic stroke disease and atrial fibrillation.
 

Numerous advantages offered by endocardial LAA devices are slated to stimulate the market demand

The endocardial left atrial appendage closure devices market accounted for USD 321 million in 2020 led by the several benefits offered by endocardial LAA devices. According to the Heart Rhythm, the endocardial LAA devices used in patients featured lower complications rates, shorter hospital stay, and less 30-day readmissions as compared to epicardial LAA devices. Several clinical studies have revealed that endocardial LAA devices offer higher safety and effectiveness in stroke management & bleeding reduction. Strong product pipeline of endocardial LAA devices comprising the Watchman device approved in the U.S. and 7 devices with CE mark in Europe with several others undergoing clinical trials has further strengthened the left atrial appendage closure devices market share.
 

Growing preference for percutaneous approach will propel the left atrial appendage closure devices market value

The percutaneous segment dominated more than 81% of revenue share in 2020. Percutaneous occlusion is relatively novel and evolving approach that is majorly recommended for the patients suffering with atrial fibrillation and increased risk of stroke. Percutaneous left atrial appendage closure procedure provides an effective alternative to the medical professionals that are confronting a complicated risk–benefit analysis in patients with non-valvular atrial fibrillation (NVAF). In addition, the percutaneous occlusion technique has been reported to be cost-effective, efficacious and safe in atrial fibrillation management.
 

Rising preference for LAA procedures in hospitals will spur the industry growth

Global Left Atrial Appendage Closure Devices Market Size

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The hospitals end-use segment in the left atrial appendage closure devices market will reach 1.67 million by 2027 owing to the growing preference for LAA procedures and increasing acceptance of left atrial appendage closure devices in hospitals. Availability of advanced medical technologies, certified medical professionals and growing adoption of latest left atrial appendage closure devices is anticipated to fuel the preference for hospitals.
 

Well-developed healthcare infrastructure in North America region is poised to benefit the regional growth

Global Left Atrial Appendage Closure Devices Market

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U.S. left atrial appendage closure devices market size will cross USD 1.02 billion by 2027 due to the several factors such as high acceptance of advanced left atrial appendage closure devices, rise in incidence of atrial fibrillation and well-developed healthcare infrastructure across the country. According to the Center for Disease Control and Prevention Statistics, in 2018, atrial fibrillation accounted for 454,000 hospitalizations as the primary diagnosis and was responsible for 158,000 mortalities every year. The estimates states that over 12 million Americas are projected to suffer with atrial fibrillation by 2030. The rising prevalence & incidence of atrial fibrillation along with other co-morbidities and risk factors in set to soar the demand for left atrial appendage closure devices. Furthermore, high preference and acceptance of advanced technology in the country, further spurs the left atrial appendage closure devices market growth during the forecast timeframe.
 

Strategies adopted by major companies will surge the industry progression

Some of the major players operating in the left atrial appendage closure devices market are Boston Scientific Corporation, AtriCure, Inc., Abbott Laboratories, Inc., Occlutech, Lifetech Scientific, SentreHEART, Cardia, Inc., & Johnson and Johnson. These prominent participants emphasize on strategic formulations such as research collaborations, new product launches, market penetration and distribution partnerships for increasing commercial presence. Moreover, these industry leaders are heavily investing in research activities that stimulates innovation and allows them to commercialize advanced solutions and garner maximum revenue in the market.
 

Recent industry developments:

  • In August 2021, Abbott Laboratories received the U.S. FDA approval for its Amplatzer Amulet Left Atrial Appendage (LAA) Occluder. This devices is intended to be used in the treatment of atrial fibrillation. This approval will assist the company in driving product sales and gaining significant share in the U.S. market.
     
  • In July 2020, Boston Scientific Corporation announced the U.S. FDA approval for its WATCHMAN FLX Left Atrial Appendage Closure (LAAC) Device. This approval assisted the company in strengthening their left atrial appendage closure devices offerings, thereby offering competitive advantage in the market.
     

Left atrial appendage (LAA) closure devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product, 2016 - 2027 (USD Million)

  • Endocardial LAA Devices
  • Epicardial LAA Devices

Market, By Procedure, 2016 - 2027 (USD Million)

  • Percutaneous
  • Surgical

Market, By End-use, 2016 - 2027 (USD Million)

  • Hospital
  • Ambulatory Surgical Centers
  • Others

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

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

Frequently Asked Questions (FAQ) :

Left atrial appendage closure devices market size had exceeded USD 408 million in 2020 and will observe a CAGR of over 27.6% through 2027.
Endocardial left atrial appendage closure devices market size had reached USD 321 million in 2020 on account of several benefits like lower complication, shorter hospital stays, etc.
Percutaneous segment had held over 81% of market share in 2020 owing to heightened demand for treating patients with atrial fibrillation and with high risk of stroke.
The overall market revenue from hospitals will cross 1.67 million by 2027 as consumers prefer these healthcare settings for LAA due to the availability of high-end technologies and skilled medical professionals.
U.S. left atrial appendage closure devices market size will surpass USD 1.02 billion by 2027 with higher adoption of advanced devices, rising cases of atrial fibrillation and mature healthcare infrastructure.

Premium Report Details

  • Published Date: Sep 2021
  • Pages: 150
  • Tables: 346
  • Charts / Figures: 15
  • Companies covered: 8
  • Countries covered: 18

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