Left Atrial Appendage (LAA) Closure Device Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, by End Use : Global Opportunity Analysis and Industry Forecast, 2021-2031

Left Atrial Appendage (LAA) Closure Device Market Research, 2031

The global left atrial appendage closure device market size was valued at $1.3 billion in 2021 and is projected to reach $8.2 billion by 2031, growing at a CAGR of 21% from 2022 to 2031. One of the most common arrhythmias is atrial fibrillation (AF), which affects most of the population worldwide. AF is associated with significant morbidity and mortality, including stroke, heart failure, and death. The most feared complication of AF is a thromboembolic episode that causes a cerebrovascular accident (CVA). There are two primary methods of preventing stroke in patients with AF, namely, oral anticoagulation (AC) therapy, and left atrial appendage (LAA) occlusion or removal. LAA devices are implanted in the heart and are 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 systemic circulation.

Left atrial appendage closure (LAA closure or LAAC) is a minimally invasive medical technique used to significantly lower the risk of stroke in a patient who has atrial fibrillation (also known as Afib or AF) and for whom other methods of treatment have been unsuccessful.

The left atrial appendage (LAA) is a microscopic ear-shaped sac located in the upper left chamber of the heart. During atrial fibrillation, this sac controls the electrical impulses. Left atrial appendage (LAA) closure devices are interventional devices intended to prevent stroke and emboli from atrial fibrillation. Factors such as an increase in the number of atrial intervention product approvals, an increase in the rates of atrial fibrillation and heart stroke cases, an aging population, hypertension-related diseases, and disrupted lifestyle behaviors such as smoking fuel market expansion. Furthermore, increased awareness initiatives in untapped markets give a wealth of chances for market growth throughout the forecast period. These factors are anticipated to propel the left atrial appendage closure device market growth.

However, the availability of substitutes and the high cost of left atrial appendage atrial closure devices may restrict the market growth. Oral anticoagulation is the conventional alternative to left atrial appendage closure devices, and it is strongly advised in persons with non-valvular atrial fibrillation. The development of non-vitamin K oral anticoagulants (NOACs) such as rivaroxaban, dabigatran, apixaban, and edoxaban has made the use of oral anticoagulants among individuals at risk of thromboembolic events simpler. These considerations may have a negative influence on the growth of the market for left atrial appendage (LAA) closure devices. The factors are projected to increase the LAA closure device market opportunity over the forecast period. 

The increasing safety of left atrial appendage (LAA) closure devices is highlighted by many emerging as well as established organizations. Furthermore, the significantly growing adoption of cutting-edge technologies in the left atrial appendage closure device market share is projected to generate higher revenue over the forecast period. Over the last decade, LAA closure has suffered a rapid evolution, as clinical expertise increased along with implant effectiveness and procedural safety significantly improved, which resulted in a rapid increase in the left atrial appendage (LAA) device market size of LAA closure devices. Percutaneous occlusion is a relatively novel and evolving approach that is majorly recommended for patients suffering from atrial fibrillation and increased risk of stroke.

The key players profiled in LAA closure device industry 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.

The global left atrial appendage (LAA) closure device market is segmented on the basis of product, end-use, and region. By product, the market is sub-segmented into endocardial LAA devices and epicardial LAA devices. By end-use, the market is classified into hospitals, ambulatory surgery centers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The left atrial appendage (LAA) closure device market is segmented into Product and End Use.

By product, the endocardial LAA devices sub-segment dominated the market in 2021. the endocardial LAA devices used in patients featured lower complications, shorter hospital stays, and fewer 30-day readmissions. Endocardial LAA devices have been shown in numerous clinical studies to be safer and more effective in managing stroke and reducing bleeding. The market share for left atrial appendage closure devices has been further increased by a robust product pipeline of endocardial LAA devices, including the Watchman device, which has received U.S. approval, and seven other devices that have received the CE mark in Europe and are currently undergoing clinical trials.

By end-use, the hospitals sub-segment dominated the global left atrial appendage (LAA) closure device market share in 2021. Owing to a growing preference for left atrial appendage (LAA) procedures and an increase in hospital acceptance of left atrial appendage closure devices the availability of advanced medical technologies, certified medical professionals, and the growing adoption of the latest left atrial appendage closure devices are expected to fuel hospital preference.

By region, North America dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period. Because of several factors, including widespread acceptance of advanced left atrial appendage closure devices, an increase in the incidence of atrial fibrillation, and a well-developed healthcare infrastructure throughout the country. High preference and acceptance of advanced technology in the country, further spurs the left atrial appendage closure devices market growth during the forecast timeframe.

Impact of COVID-19 on the Global Left Atrial Appendage (LAA) Closure Device Market.

• The COVID-19 outbreak was an unprecedented health crisis that had a significant impact on the market for left atrial appendage closure devices market share.

• The coronavirus pandemic resulted in the cancellation or postponement of non-urgent procedures, including structural heart (SH) interventional surgeries, in order to reduce unnecessary patient exposure to COVID-19 and preserve ICU capacity for severe SARS-CoV-2 patients.

• The limitations in ICU beds and anaesthesiology pose a significant barrier to performing non-urgent structural heart interventions such as left atrial appendage closure procedures and reducing the use of left atrial appendage closure devices.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the LAA closure device market forecast segments, current trends, estimations, and dynamics of the left atrial appendage closure device market analysis from 2021 to 2031 to identify the prevailing left atrial appendage 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 closure device market segmentation assists to determine the prevailing market opportunities.
• Left atrial appendage closure device market trends, 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 LAA closure device market analysis of the regional as well as global left atrial appendage closure device market trends, key players, market segments, application areas, and market growth strategies.

  Left Atrial Appendage (LAA) Closure Device Market Report Highlights

Aspects	Details
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	Biosense Webster, Inc., Occlutech, Abbott Laboratories, Cardia, Inc., sentreheart, inc., Johnson & Johnson Services, Inc., Boston Scientific Corporation, Aegis Medical Group., lifetech scientific corporation, AtriCure, Inc.

Analyst Review

The rise in prevalence of atrial fibrillation (AF), which affects most of the population worldwide is anticipated to propel the demand for left atrial appendage (LAA) closure devices in the near future. Preventing stroke in patients with AF demand for left atrial appendage (LAA) closure device is the key factor that is projected to drive the growth of the global left atrial appendage (LAA) closure device market size during the forecast period. In addition, the aging population will increase the atrial fibrillation disease burden, as the elderly are more susceptible to arrhythmia, ischemic stroke disease and atrial fibrillation. However, left atrial appendage (LAA) devices are expensive and susceptible to rupture due to their instability. The main factors anticipated to restrain market expansion during the projected period are the overall cost of the devices is rising as a result of sustained technical improvement and the incorporation of advanced technology. On the contrary, rapid growth of the medical industry and rise in extensive use of endocardial procedures in atrial fibrillation in the previous years are anticipated to provide remunerative opportunities for key players in the upcoming years.

Among the analyzed regions, North-America is expected to account for the highest revenue in the market by the end of 2031, followed by Asia-Pacific, Europe, and LAMEA. Increase in prevalence of atrial fibrillation (AF) urbanization and technological advancements in medical sector are the key factors responsible for leading position of Asia-Pacific and North-America in the global left atrial appendage (LAA) closure device market.

Author Name(s) : Neha Mittal | Vitika Verma

Related Tags

• Implantable Devices
• Assistive Devices
• Surgical Equipment