The left atrial appendage (LAA) closure devices market growth can be attributed to the growing prevalence of atrial fibrillation (AF) across the globe. The growth in the geriatric population and the increased prevalence of lifestyle-related disorders such as obesity, diabetics, and high blood pressure are contributing to the growth of AF.
New York, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Left Atrial Appendage Closure Devices Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05982538/?utm_source=GNW
According to several epidemiological studies, AF is the most common arrhythmia, with an estimated prevalence of 1.5–3% in the general population in developed regions. Approximately 7.6 million people over 65 years of age in Europe suffered from AF in 2016, which is expected to increase by around 89%, reaching 14.4 million by 2060. Hence, the high occurrence of AF across the globe is likely to contribute to the growth of the market.
In addition, frequent development and commercial approvals & launches of innovative next-generation LAA closure devices is another primary factor driving the rising uptake of these devices worldwide. For instance, market leader Boston Scientific received CE Mark approval for its Next Generation WATCHMAN FLX Left Atrial Appendage Closure Device in March 2019.
The following factors are likely to contribute to the growth of the left atrial appendage closure devices market during the forecast period:
• Emergence of Advanced Imaging Modalities
• Increasing Focus on Conducting Clinical Trials on LAA Closure Devices
• Advent of Hybrid Approach in LAA Closure Technique
• Transference from Open to MI Surgeries
The study considers the present scenario of the left atrial appendage closure devices market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Left Atrial Appendage (LAA) Closure Devices Market Segmentation
The global left atrial appendage (LAA) closure devices market research report includes a detailed segmentation by product, end-user, and geography. 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. Endocardial devices involve a lower complication rate (around 8.5%) compared with epicardial devices (25.4%), which is likely to boost the segment growth.
The hospitals segment is accounted for major share of 55% in 2019. Healthcare professionals in the hospital segment use advanced LAA closure devices, including endocardial and epicardial, to treat AF. The segment is growing at a healthy rate, which is expected to continue during the forecast period. The growth in the aging population and the increasing pool of AF patients are the major factors driving the segment growth.
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.
Market Segmentation by Product
• Endocardial LAA Closures
• Epicardial LAA Closure
Market Segmentation by End-user
• Specialty Cardiac Centers
• Ambulatory Surgery Centers (ASC)
INSIGHTS BY GEOGRAPHY
North America dominates the global left atrial appendage (LAA) closure devices market share. North America is likely to witness highest CAGR of 38%. The presence of a large disease population, coupled with better treatment options for AF, is the primary factor for the high market share. The US is the major revenue contributor to the North America region and accounted for a share of 98% in 2019.
Germany, France, the UK, Spain, and Italy are the major revenue contributors. The market in Europe is expected to grow at a healthy rate during the forecast period. Western Europe has advanced healthcare services, especially for the implantation of LAA closure devices. The increasing incidence of AF, the rapid adoption of advanced devices, and high healthcare expenditures are driving the growth in Europe.
Market Segmentation by Geography
• North America
o South Korea
• Latin America
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global left atrial appendage (LAA) closure devices market is highly consolidated and is characterized by the presence of a few established players holding a majority of the shares. Vendors are offering several endocardial and epicardial devices and are competing based on factors such as technology, safety features, regulatory approvals, marketing strategies, and distribution channels. Boston Scientific, AtriCure, and Abbott are the key vendors in the market.
• Boston Scientific
• Biosense Webster
• Lifetech Scientific
• Append Medical
KEY QUESTIONS ANSWERED:
1. What is the market size and compound annual growth rate of the left atrial appendage (LAA) closure devices market?
2. What is the growth of the adult and paediatric segment by 2025?
3. Who are the major players in the market and what are their market shares?
4. What are the factors influencing the growth of the Endocardial LAA Closure segment during the forecast period?
5. How is the growing population in the Asia Pacific region impacting the growth of the market?
Read the full report: https://www.reportlinker.com/p05982538/?utm_source=GNW
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