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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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI3960
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Overview

Left Atrial Appendage Closure Devices Market size was worth over USD 1.4 billion in 2022. Driven by the expanding geriatric population with severe health concerns, the market is expected to witness significant growth at a 12.5% CAGR from 2023 to 2032.
 

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Rising number of people suffering from atrial fibrillation is one of the main market drivers. The Centers for Disease Control and Prevention (CDC) states that atrial fibrillation is the leading diagnosis in approximately 454,000 hospital admissions and causes around 158,000 deaths in the U.S. each year.
 

Furthermore, favorable government initiatives are raising awareness among patients with chronic diseases, including chronic atrial fibrillation, about the significance of maintaining overall health & wellness. Government agencies, including the WHO, World Heart Federation, and the American Heart Association, and industry participants have launched several campaigns to raise awareness about atrial fibrillation and the use of LAA closure devices, which is expected to push industry progress.
 

High product costs may limit product adoption

The mounting cost of left atrial appendage closure devices is a key factor restraining left atrial appendage closure devices market expansion. The growing need for relevant treatments is propelled by the surging prevalence of atrial fibrillation. Notably, product uptake for atrial fibrillation may be constrained by the high cost of current treatment methods. However, the increasing presence of companies operating in the industry, the high availability of alternative production materials, and technological advancements may supplement product penetration in the coming years.
 

Lower recurrence rate to drive demand for epicardial LAA devices

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Left atrial appendage closure devices market is classified as per product into endocardial LAA devices and epicardial LAA devices. The epicardial LAA devices segment is set to exceed USD 725 million by 2032. Epicardial left atrial appendage occlusion reduces the incidences of atrial fibrillation recurrence while improving the electrical and structural remodeling of the LAA. Moreover, these devices need a smaller trans-septal sheath needed for LA access, lowering the chance of an intra-atrial shunt, which is foreseen to propel product demand.
 

Growing preference for percutaneous procedures to push industry statistics

Based on procedure, the left atrial appendage closure devices market is segmented into percutaneous and surgical. The percutaneous segment is anticipated to expand at over 12.5% CAGR through 2032. Percutaneous left atrial appendage (LAA) closure is a promising alternative to anticoagulant therapy for those who are diagnosed with atrial fibrillation and are at a high risk of cerebrovascular events. For successful percutaneous LAA closure, market players are designing self-expanding devices. Furthermore, percutaneous minimally invasive surgery is highly preferred as it requires only a minor incision and leaves minimal scars, which is likely to foster segment outlook.
 

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Left atrial appendage closure devices market is segmented based on end-use into ambulatory surgical centers, hospitals, and others. Ambulatory surgical centers segment valuation is expected to surpass USD 890 million by 2032. The increased need for minimally invasive surgical methods and the rise in the presence of ambulatory surgical facilities are impelling segment growth. Additionally, ambulatory surgical centers are working on enhancing and accelerating post-surgery recovery, along with offering affordable and high-quality services, which is slated to support industry statistics.
 

Prevalent adoption of upper limb prosthetics to expand North America industry share

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North America left atrial appendage closure devices market accounted for over 46% of the overall industry revenue in 2022 and is projected to observe notable growth through 2032. An upsurge in accidental injuries, a high acceptance rate of advanced upper limb prosthetics, and the expanding elderly population nationwide are responsible for the sizable market share. In addition, several other factors, such as growing consumer awareness pertaining to the advantages of artificial limbs, the presence of major market participants, and the mounting frequency of chronic diseases, are set to further boost regional market progress.
 

Innovative product launches to define the market outlook

The left atrial appendage closure devices market includes prominent companies such as Boston Scientific Corporation, LifeTech Scientific, Occlutech, Johnson & Johnson, AtriCure, Inc., and Abbott Laboratories, Inc. among others. Significant R&D expenditures by manufacturers toward diversifying their product offerings are aiding market development. For instance, in August 2021, healthcare giant Abbott Laboratories’ Amplatzer Amulet Left Atrial Appendage Occluder received U.S. FDA approval to meet the clinical demands of atrial fibrillation (AFib) patients.
 

Impact of COVID-19 on the left atrial appendage closure devices market trends

During the COVID-19 pandemic, the initial quarters of 2020 witnessed a decline in left atrial appendage closure devices industry revenue. The number of percutaneous interventional operations performed during the pandemic decreased by 28%, according to research reports, hampering product demand. Although the LAA closure devices market experienced a swift recovery in the final two quarters of 2020 and fiscal year 2021. The burgeoning adoption of LAA closure devices, surgical safety compliance, and target disease diagnosis has improved on account of technological developments and the advent of telemedicine, positively influencing the industry scenario.
 

The left atrial appendage closure devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments:

By Product

  • Endocardial LAA Devices
  • Epicardial LAA Devices

By procedure

  • Percutaneous
  • Surgical

By end-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

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

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

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for left atrial appendage closure devices was valued at over USD 1.4 billion in 2022 and is projected to expand at 12.5% CAGR through 2032.
Percutaneous segment is projected to depict over 12.5% CAGR through 2032. This surgical procedure requires a minor incision and leaves minimal scars, which has impelled segment progress.
North America left atrial appendage closure devices market held over 46% industry share in 2022 and is estimated to observe notable progress through 2032 owing to the growing incidences of accidental injuries and the expanding geriatric population.
Prominent firms operating in the left atrial appendage closure devices industry include Boston Scientific Corporation, LifeTech Scientific, Johnson & Johnson, AtriCure, Inc., Occlutech, Abbott Laboratories, Inc., and others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 8
  • Tables & Figures: 361
  • Countries covered: 18
  • Pages: 201
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