Left Atrial Appendage (LAA) Closure Device Market By Product (Endocardial LAA Devices, Epicardial LAA Devices), By End Use (Hospitals, Ambulatory Surgery Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global left atrial appendage (LAA) closure device market is envisioned to garner $8,218.10 million by 2031, growing from $1,276.90 million in 2021 at a CAGR of 20.97% from 2022 to 2031.
The global Left Atrial Appendage (LAA) Closure device is implanted in the heart and is intended to reduce the risk of thromboembolism from the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation. The device mechanically occludes the LAA to prevent LAA thrombus from entering the circulation of the blood in the body. LAA closure reduces the stroke risk associated with atrial fibrillation. But, it doesn’t treat the AFib itself. Left atrial appendage closure can benefit people who need heart surgery and also have atrial fibrillation. The procedure is also helpful for those who have atrial fibrillation.
The rising prevalence of atrial fibrillation is anticipated to augment the need for left atrial appendage closure devices. Atrial fibrillation was one the most prevalent atrial arrhythmia in patients suffering from congenital heart disease. Additionally, the aging population will increase atrial fibrillation disease incidences, as elderly adults are more susceptible to arrhythmia, ischemic stroke disease, and atrial fibrillation. Such factors are anticipated to drive the Left Atrial Appendage (LAA) Closure device market value.
However, the availability of alternatives and the 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 by doctors with non-valvular atrial fibrillation. The development of non-vitamin 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. Such factors are anticipated to restrict the Left Atrial Appendage (LAA) Closure device market growth.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were at a standstill. There were import-export restrictions laid down on major Left Atrial Appendage (LAA) Closure device-producing countries such as the United States and China, which imposed significant challenges on the market. COVID-19 virus enhances the thrombo-inflammatory cascade, which intensifies coagulation and may increase the risk of cardiac embolism in patients with AF. The limitations regarding the ICU beds during the pandemic represent a major restriction in performing heart surgeries including left atrial appendage closure procedures, thereby reducing the usage of left atrial appendage closure devices.
The key players profiled in the Left Atrial Appendage (LAA) Closure Device market report include Boston Scientific Corporation, Abbott, Lifetech Scientific, ATRICURE, INC., SentreHEART, Inc., Medical Device Business Services, Inc., Occlutech, Cardia, Inc., Johnson & Johnson Private Limited, and Lepu Medical Technology Co., Ltd.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the left atrial appendage (LAA) closure device market analysis from 2021 to 2031 to identify the prevailing left atrial appendage (LAA) closure device market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the left atrial appendage (LAA) closure device market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global left atrial appendage (LAA) closure device market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
Endocardial LAA Devices
Epicardial LAA Devices
By End Use
Hospitals
Ambulatory Surgery Centers
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA
Key Market Players
sentreheart, inc.
Boston Scientific Corporation
AtriCure, Inc.
Abbott Laboratories
Occlutech
lifetech scientific corporation
Cardia, Inc.
Aegis Medical Group.
Biosense Webster, Inc.
Johnson & Johnson Services, Inc.
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