Left Atrial Appendage (LAA) Closure Devices Market Size to Reach Revenues of over USD 3 Billion by 2025 - Arizton

CHICAGO, Oct. 27, 2020 /PRNewswire/ -- Left atrial appendage (LAA) closure devices market is expected to grow at a CAGR of around 36% during the period 2019−2025.

Key Highlights Offered in the Report:  

1. The global LAA closure devices market is anticipated to reach over $3 billion by 2025 with a high double-digit growth of around 36% over the forecast period.
2. Emergence of hybrid approach in the left atrial appendage closure procedure is likely to fuel the growth of the LAA closure devices market over the forecast period.
3. The rising prevalence of atrial fibrillation coupled with significant long-term cost effectiveness offered by LAA closure devices is attributing to the market growth globally.
4. Emergence of advanced imaging modality for LAA closure is another major growth factor for the global LAA closure devices market.
5. The endocardial LAA closure segment contributed to the largest market share of around 83% in 2019.
6. North America dominated the global LAA closure devices market with a share of around 68% in 2019.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, end-user, and geography
• Competitive Landscape – 3 key vendors, 3 other vendors, and 2 investigational companies

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Left Atrial Appendage (LAA) Closure Devices Market – Segmentation

• The endocardial LAA closure devices segment accounts for the maximum shares as these devices are safe and effective. Several clinical studies conducted on endocardial devices have displayed encouraging results for the patient population in terms of stroke risk reduction, thereby contributing to the market share of the segment.
• The surgical epicardial LAA closure devices have emerged as an alternative procedure for LAA closures intending to improve efficacy, particularly for the patients that have displayed poor results for the standard endocardial technique. In 2019, the epicardial segment accounted for 17% of the global market share.
• The specialty cardiac centers (SCC) segment provides exclusive healthcare services to patients with suspected or diagnosed cardiac diseases. These centers are solely dedicated to treating patients suffering from cardiac ailments such as AF. The segment is likely to witness the fastest growth during the forecast period.

Left Atrial Appendage (LAA) Closure Devices Market by Product

• Endocardial LAA Closures
• Epicardial LAA Closure

Left Atrial Appendage (LAA) Closure Devices Market by End-user 

• Hospitals
• Specialty Cardiac Centers
• Ambulatory Surgery Centers (ASC

Left Atrial Appendage (LAA) Closure Devices Market – Dynamics

The global LAA closure devices market is growing at a phenomenal rate and offers tremendous growth opportunities both for the existing and upcoming players. Many vendors are investigating a significant amount on conducting clinical studies to develop and commercialize the next generation LAA closure devices. Vendors usually conduct clinical trials to receive regulatory approvals and expedite time-to-market. As a result, vendors are focusing on conducting clinical trials to generate abundant clinical evidence regarding the safety and efficacy of the LAA closure devices. The availability of clinical data encourages end-users to use LAA closure procedures as well as LAA closure devices. The adoption of LAA closure devices is growing due to the availability of positive clinical data supporting the safety and efficacy of the LAA closure procedure. The result from several clinical trials conducted across the globe is encouraging HCPs to use such devices for treating AF.

Key Drivers and Trends fueling Market Growth:

• Emergence of Advanced Imaging Modalities
• Emergence of Hybrid Approach in LAA Closure Technique
• Transference from Open to MI Surgeries
• Frequent Product Approval

Left Atrial Appendage (LAA) Closure Devices Market – Geography

North America obtained a dominant position for LAA closure devices and accounted for a 68% share in the global market in 2019. The presence of a large proportion of the disease population, coupled with better access to treatment for AF, specifically LAA closure devices, is the primary factor for its high market share. The strong presence of key LAA closure devices vendors is also another reason for high LAA closure devices uptake in the North American region. The rise in the number of AF patient population due to factors such as coronary artery diseases, high blood pressure, heart attack and the necessity to treat the disease is expected to boost the market growth during the forecast period.

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Left Atrial Appendage (LAA) Closure Devices Market by Geography

• Europe
• Spain
• Germany
• Italy
• France
• UK
• North America
• US
• Canada
• APAC
• South Korea
• China
• Japan
• Australia
• India
• Latin America
• Brazil
• Argentina
• Mexico
• MEA
• Turkey
• Saudi Arabia
• South Africa

Major Vendors

• Boston Scientific
• AtriCure
• Abbott

Other Vendors

• Biosense Webster
• Lifetech Scientific
• SentreHEART

 Investigational Companies

• Append Medical
• Cardia

Explore our healthcare & lifesciences profile to know more about the industry.

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