Left Atrial Appendage Closure Devices Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3960
Left Atrial Appendage Closure Devices Market size is projected to experience significant growth from 2019 to 2025.
The growing burden of cardiac arrhythmia will stimulate global Left Atrial Appendage (LLA) closure devices business growth in the coming years. The most common and highly prevalent arrhythmia is atrial fibrillation that is associated with the risk of stroke. According to the Centers for Disease Control and Prevention, nearly 2.1 million to 6.9 million people in the United States are affected by atrial fibrillation. The annual spending of the region on treating atrial fibrillation is USD 6 billion. With growing cardiac arrhythmia cases, the demand for preventive services to avoid stroke will increase, thereby increasing the demand for left atrial appendage closure devices.
Increasing preference of LAA closure devices as an alternative to oral anticoagulants will escalate the industry growth. Growing geriatric population pool and adoption of unhealthy lifestyle including smoking and alcohol consumption is anticipated to fuel the demand for the LAA closure devices. Furthermore, increasing government initiatives and the introduction of technologically advanced products in the field of LAA closure devices will positively impact market growth.
However, the preference of patient towards non-invasive therapy and the high cost of the device are the major factors hindering the global LAA closure market. Stringent government regulations towards LAA closure systems will hamper the growth. For instance, WATCHMAN of Boston Scientific is approved for implantation in the U.S. Furthermore, unfavorable reimbursement policies in the developed and developing economies along with complications associated with implantation and removal will pose a negative impact on industry growth.
Endocardial LAA closure devices segment will hold a significant share over the forecast years. The growth will be attributed to the availability of endocardial LAA closure devices. Endocardial LAA closure devices such as Watchman and Watchman FLX Devices, Amplatzer Cardiac Plug and Amplatzer Amulet Device, WaveCrest LAAO System, Occlutech LAA Occluder, LAmbre LAA Closure System, Sideris Patch, Ultraseal, LeFort Device and Pfm Device contributes majority of the total appendage closure market. Moreover, these devices are approved for stand-alone use in USA and Europe as compared to epicardial devices that are preferred as a concomitant solution in patients undergoing open cardiac surgery. However, disadvantages associated with the use of endocardial LAA devices including prothrombic effects due to thrombus formation on a device will hinder the growth.
Hospital end-use segment will progress at a significant pace over the projected timeframe. The rising adoption of LAA closure devices and approval for safe and competent occlusion of the left atrial appendage will increase the implementation of these devices in hospitals. Easy implantation of LAA closure devices, developing navigation and imagining technology and availability of accessories helping in the implantation of devices will further contribute to the growth and adoption of LAA closure devices by hospitals.
The U.S. left atrial appendage closure devices market will hold a significant share owing to well-established healthcare infrastructure and regulatory approvals in the country. Increasing adoption of LAA closure devices over anticoagulant therapy and rise in the prevalence of cardiac disorders will impact the market growth. Additionally, government grants for clinical investigation of medical devices in the U.S. that enables the company to collect the data for product development will drive the market growth in the foreseeable future.
India left atrial appendage closure devices market is anticipated to grow at a significant pace due rapidly improving healthcare infrastructure in India. Rising prevalence of cardiovascular disorders and lifestyle disorders including obesity, stroke, and heart diseases will spur the demand for LAA closure devices as a preventive therapy. The hospitals including Apollo is adopting LAA closure device as an alternative to medication therapy. Moreover, the rise in medical tourism in India is encouraging key players to establish their research and development and operating facilities in the region.
Some of the major market players involved in the global left atrial appendage (LAA) closure devices market include Boston Scientific Corporation, St. Jude Medical, Biosense Webster, Inc., Occlutech International AB, Lifetech Scientific Co., Ltd., Custom Medical Devices among others. Companies are engaged in implementing business expansion strategies and research activities to introduce technologically advanced devices. For instance, in April 2019, Conformal Medical, Inc. introduced the LAA seal that seals off the heart left atrial appendage to prevent stroke. The device is under clinical investigation.
Left Atrial Appendage Closure Devices Market by Type, 2014-2025 (USD Million)
- Endoluminal LAA Devices
- Epicardial LAA Devices
Left Atrial Appendage Closure Devices Market by End-Use, 2014-2025 (USD Million)
- Specialty clinics
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Boston Scientific Corporation
- St. Jude Medical
- Biosense Webster, Inc.
- Occlutech International AB
- Lifetech Scientific Co., Ltd.
- Custom Medical Devices
- Cardia, Inc.
- Hangzhou Valued Medtceh Co., Ltd.
- Lepu Medical Technology
- SentreHeart, Inc.
- Aegis Medical Innovations, Inc.
- Pfm Medical
- Coherex Medical
- Dune Medical Devices
- AtriCure Company
- Conformal Medical, Inc.
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