Left Atrial Appendage Closure Devices Market Analysis

Left Atrial Appendage Closure Devices Market Analysis

Based on product, the market is classified into endocardial LAA devices and epicardial LAA devices. The endocardial LAA devices segment generated the highest revenue of USD 1.6 billion in 2023.
 

• The overall market bloom is attributed to the increased awareness and enhancement in the treatment using endocardial LAA devices which mitigate the possibility of thromboembolic from the Left Atrial Appendage entering the systemic circulation. For instance, as captured by a research publication, the endocardial Watchman device engineered and commercially marketed by Boston Scientific Corporation has an intraoperative implantability success rate of over 98%.
   
• Moreover, the use of endocardial LAA devices in uncontrolled atrial fibrillation patients has been shown to carry a lower overall risk of thromboembolic events when associated complications are appropriately managed. In addition, the use of endocardial LAA closure devices is regarded as one of the safe alternatives in hybrid atrial fibrillation ablation settings.
   

Based on procedure, the left atrial appendage closure devices market is classified into percutaneous and surgical. The percutaneous segment accounted for the majority segmental share in 2023 and was valued at USD 1.7 billion in 2023.
 

• The percutaneous method of LAA closure is a novel approach that is advantageous over anticoagulation therapy in patients with atrial fibrillation who are at a greater risk of having a cerebrovascular accident. This has triggered market players to focus on making self-expanding devices for LAA closure which can be pneumatically deployed.
   
• The technique of percutaneous minimally invasive surgery, known as entry through small incisions that only form scar tissue, along with the hide of external products surgery, has gained much popularity recently for the treatment of certain conditions.
   
• These surgical solutions have emerged as a promising option in patients who are at an elevated risk of strokes in the past few years and especially in those who are not suitable for oral anticoagulants. For instance, the small percutaneous device called the Watchman, approved by the U.S. FDA, is used to block the left atrial appendage opening to stop the formation of blood clots that can be detrimental to patients.
   

Based on end use, the left atrial appendage closure devices market is segmented into hospitals, ambulatory surgical centers, and other end-users. The hospitals segment dominated the market in 2023 and is anticipated to reach USD 6 billion by the end of the forecast period.
 

• The expansion is primarily attributed to the increased adoption of advanced LAA closure devices in surgery, which is expected to enhance the patient's hospital selection. The exponential rise in admissions with target disorders due to sedentary lifestyle, increased disease screening campaigns in combination with the availability of well-trained health professionals are some of the things driving the hospital segment growth.
   
• In addition, the growth of the segment is expected to be further aided due to the high incidence of atrial fibrillation in developing countries with developed healthcare systems.
   
• Moreover, it is projected that the increasing rates of cardiac and renal illnesses associated with fibrillation will increase the rates of diagnosis and treatment in clinics even further, thereby contributing to market growth.
   

North America left atrial appendage closure devices market generated USD 1.3 billion in revenue in 2023 and is projected to grow at a CAGR of 17.6% from 2024 to 2032.
 

• Some of the factors attributed to this case are the presence of more companies, an increase in demand for the products and the increase in the number of people suffering from atrial fibrillation.
   
• Furthermore, industry players like Boston Scientific Corporation and Abbott laboratories are expanding the industry through more investment in research and marketing of new products.
   
• In addition, the increasing number of confined cases of atrial fibrillation and increased patient visits in hospitals strengthen the need for left appendage closure devices. The CDC estimated that 12.1 million cases of people suffering from fibrillation in the U.S. in the next decade. Therefore, there will be greater demand for the left atrial appendage closure devices resulting in an increase in market growth.
   

The U.S. left atrial appendage closure devices market reached USD 1.2 billion in revenue in 2023 and is expected to experience substantial growth from 2024 to 2032.
 

• Supporting policies in respect to reimbursements in the U.S. aid the growth of the device. The Centers for Medicare and Medicaid Services (CMS) has updated its reimbursement policies regarding coverage of LAAC devices, boosting the reimbursement ratios for the WATCHMAN FLX device manufactured by Boston Scientific by 78% between 2015 and 2021. The weighted average reimbursement for LAAC procedures (DRG 273-274) also increased in 2022.
   
• Moreover, with the recent changes in hospital insurance policy and favorable reimbursement policies, there is wider coverage for LAAC devices among hospitals and healthcare providers, facilitating greater reach and access. The country has also had the advantage of wide commercial payer coverage.
   

Germany left atrial appendage closure devices market is expected to grow significantly in the coming years.
 

• Coverage of LAAC procedures in the German health system is comprehensive so that it stimulates the use of the devices by hospitals and the increase in the number of such procedures done. This is expected to persist as more countries in Europe enhance their reimbursement policies.
   
• The increase in the target population and the growing trend towards the use of LAAC devices as a main strategy for the prevention of stroke are propelling the market. This trend is aided by the increasing clinical data validating LAAC's effectiveness in the country.
   

Japan holds a leading position in the Asia Pacific left atrial appendage closure devices market.
 

• The need to raise awareness regarding the benefits of the LAAC procedure among healthcare practitioners and patients is one of the factors that is propelling the overall product sales. Workshops as well as professional education programs are increasing awareness of LAAC advantages, with the result that patients make more educated choices.
   
• The increasing incidence of atrial fibrillation (AF) is one of the key factors fueling the growth rate of the market. As reported by the World Health Organization, Japan is one of the Asian countries where an estimated two-fold increase of AF cases is expected by the year 2030.