Left Atrial Appendage Devices (LAA) Market

SKU: DMMD2956 | Last Updated On: Sep 23 2022 | Available Formats

>Left Atrial Appendage Devices (LAA) Market Expected to reach a CAGR of 20.2% during the forecast period 2022-2029

Left Atrial Appendage Devices (LAA) Market is segmented By Product (Endocardial, Epicardial), By Procedure (Percutaneous, Surgical), By End-User (Hospitals, Ambulatory Surgical Centers, Heart Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Left Atrial Appendage Devices (LAA) Market Growth, Trends, and Report Insights

Left atrial appendage devices (LAA) market was valued at USD 490 million in 2021. It is forecasted to reach USD million by 2029, growing at a CAGR of 20.2% during the forecast period (2022-2029). Left atrial appendages (LAA) are the small, ear-shaped sac in the left atrium's muscle wall. The left atrial appendage is a minimally invasive technique that supports lowering the risk of stroke. A high-risk stroke arises due to atrial fibrillation. Left atrial appendage (LAA) devices such as the Amplatzer plug device and watchman device reduce blood clots' probability and prevent heart stroke. The device transplantation is usually achieved under anesthesia with trans-esophageal echo guidance. The growing elderly population and the rising occurrence of atrial fibrillation worldwide are key factors fueling the growth of the left atrial appendage devices (LAA) Market.

Left Atrial Appendage Devices (LAA) Market Report Statistics

Metrics

Details

Market CAGR

20.2%

Segments Covered

By Drug Class Type, By Procedure, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Left Atrial Appendage Devices (LAA) Market Growth Drivers and Industry Dynamics

An increase in the number of arrhythmias patients suffering is expected to drive market growth.

The left atrial appendage devices (LAA) Market is estimated to grow with double-digit growth in the developing economies across the globe. The high growth rate is recognized by the continuously growing number of patients suffering from atrial fibrillation and other arrhythmias. There is a high risk for atrial fibrillation in developed countries, which will boost the demand for left atrial appendage devices, which will boost the growth of the left atrial appendage devices (LAA) Market. Furthermore, the growing prevalence of cardiac rhythm disorders, diabetes, and high blood pressure is expected to increase the demand for the left atrial appendage devices (LAA) Market over the forecast period.

Moreover, increasing the government's focus on raising awareness about cardiac arrhythmias will contribute to the left atrial appendage devices (LAA) market. The adoption rate of the LAA (left atrial appendage) devices has increased significantly due to a key patient pool suffering from cardiac rhythm abnormalities. To prevent stroke risk and reduce blood clots, the demand for left atrial appendage devices increased.

On the contrary, the high cost of left atrial appendage (LAA) devices is expected to hamper the global left atrial appendage devices (LAA) Market. Moreover, due to the high cost associated with left atrial appendage devices, people prefer alternative solutions that are more affordable. Thus, this factor hinders the market's growth over the forecast period. Further, the disparity in left atrial appendage devices' reimbursement policies is also expected to stagnant the global market's growth.

Left Atrial Appendage Devices (LAA) Market Segmentation Analysis

Hospitals segment accounted for the highest share in the global left atrial appendage devices (LAA) market.

The hospital segment is projected to dominate the left atrial appendage devices (LAA) Market due to the increasing numbers of heart-related disease cases across the globe, which propels the demand for specialty hospitals to treat heart-related diseases. Moreover, improving and advancing medical infrastructure is estimated to boost left atrial appendage devices in hospitals. Health spending in the U.S. is projected to have grown 4.2% to $4.3 trillion in 2021 as compared to a growth surge of 9.7% in 2020, according to the data published by actuaries at the Centers for Medicare and Medicaid Services.

The ambulatory surgical center segment is estimated to hold a significant share in the global left atrial appendage devices (LAA) market and grow with a healthy CAGR over the forecast period. Moreover, ambulatory surgical centers have a low cost compared to hospitals. They have minimal risk of infection, estimated to enhance the left atrial appendage devices (LAA) Market.

The epicardial left atrial appendage devices segment is expected to grow with a significant growth rate during the forecast timeframe due to the increasing adoption of these products in developed economies across the globe. Moreover, the epicardial left atrial appendage device can negate the need to implant a permanent device. Also, the epicardial device does not require anticoagulation post-procedure. Thus, due to these several benefits of epicardial left atrial appendage devices, the Market is estimated to create lucrative growth opportunities during the forecast timeframe.

Left Atrial Appendage Devices (LAA) Market Geographical Penetration

North America is the dominating region during the forecast period.

North America is projected to hold the largest share in the left atrial appendage devices (LAA) market due to the increasing number of atrial fibrillation cases. The increasing atrial fibrillation population in the United with the increasing geriatric population across the nation drives the market growth. Atrial Fibrillation is expected to cause heatstroke, and subsequently, left atrial appendage management is of extreme importance. Additionally, novel technologies are being launched in the market, which is estimated to raise these devices' adoption across the region. US census projections for the next 50 years estimate that about 3 million Americans will have atrial fibrillation by the year 2020, increasing to 5.6 million by the year 2050, with more than half affected age 80 or older.

Left Atrial Appendage Devices (LAA) Market Competitive Landscape

The left atrial appendage devices (LAA) market is moderately fragmented with the presence of regional as well as global players. Some of the key players in the growth of the market include Boston Scientific Corp., AtriCure, Abbott, Biosense Webster, Lifetech Scientific, SentreHEART, and Append Medical among others. The key players are executing several growth strategies, such as product launches, acquisitions, and collaborations, which are expected to fuel the global left atrial appendage devices (LAA) market. In July 2020, Boston Scientific Corporation announced that it received U.S. Food and Drug Administration (FDA) approval for the WATCHMAN FLX Left Atrial Appendage Closure (LAAC) Device. This device helps to reduce the risk of stroke in patients with non-valvular atrial fibrillation (NVAF) who need an alternative therapy. In April 2022, Abbott announced the U.S. availability of its Amplatzer steerable delivery sheath device. It is used with the company’s Amplatzer Amulet left atrial appendage (LAA) occluder is used to treat people with atrial fibrillation (AFib) to reduce the risk of ischaemic stroke. U.S. physicians now have more flexibility and precise placement when implanting the Amulet device in simple and complex anatomies.

COVID-19 Impact:

Positive impact on the global left atrial appendage devices (LAA) market

The left atrial appendage device (LAA) market is estimated to experience a surge in the left atrial appendage market's growth rate. Several countries' governments and private organizations are taking initiatives to create awareness among the population during this pandemic. These factors are projected to increase the growth of the left atrial appendage market. Along with this factor, manufacturers focused on developing new products to gain a strong position in the global market during a pandemic. Due to the pandemic, there is a rise in the number of ambulatory clinical centers globally. The advancement of products by key manufacturers is expected to boost the growth left atrial appendage market.

The global left atrial appendage devices (LAA) market report would provide an access to approximately 61 market data tables, 50 figures and 170 pages

FAQ

What is the Growth Rate of the Left Atrial Appendage Devices (LAA) Market?

Throughout the forecast period( 2022-- 2029) it's going to grow by a top CAGR of 20.2%.

What Companies Are Included in the Left Atrial Appendage Devices (LAA) Market?

Boston Scientific Corp., AtriCure, Abbott, Biosense Webster, Lifetech Scientific, SentreHEART, and Append Medical are the leading market companies with significant market share

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