Left Atrial Appendage Closure Device Global Market Report 2024

The left atrial appendage closure device market size has grown exponentially in recent years. It will grow from $1.39 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth observed in the historical period can be attributed to several factors, including the prevalence of atrial fibrillation, the adoption of stroke prevention strategies, clinical evidence and research, the emergence of minimally invasive alternatives, patient preferences for non-pharmacological options, the aging population, and the influence of physician training and expertise.

The left atrial appendage closure device market size is expected to see rapid growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The anticipated growth in the forecast period can be attributed to factors such as the rising global burden of atrial fibrillation, an increased focus on stroke prevention in high-risk patients, expanding patient awareness, the integration of closure devices into standard clinical practice, and global efforts in cardiovascular disease management. Major trends expected in the forecast period include the emergence of percutaneous closure techniques, advancements in device designs, an increasing use of imaging technologies, a focus on minimally invasive approaches, and the tailored selection of devices based on patient anatomy.

The increasing prevalence of atrial fibrillation is anticipated to drive the growth of the left atrial appendage (LAA) closure device market in the foreseeable future. Atrial fibrillation is a medical condition characterized by an irregular and often rapid heartbeat, resulting from the heart's upper chambers, known as the atria, not beating in a coordinated and rhythmic manner. Left atrial appendage (LAA) closure devices play a crucial role in treating atrial fibrillation by reducing the risk of stroke in patients with this cardiac arrhythmia and preventing the formation or escape of blood clots. As reported in October 2022 by the Centers for Disease Control and Prevention, a US-based government agency, atrial fibrillation was the predominant diagnosis in over 454,000 hospital admissions annually in the US. Projections suggest that by the year 2030, approximately 12.1 million people in the US are expected to have atrial fibrillation. Thus, the escalating prevalence of atrial fibrillation is poised to act as a catalyst for the growth of the left atrial appendage (LAA) closure device market.

The growth of the geriatric population is also anticipated to contribute to the expansion of the LAA closure device market. The geriatric population, consisting of individuals aged 65 and older, has distinct healthcare needs and faces challenges associated with aging. LAA closure devices prove beneficial for the geriatric population by reducing the risk of stroke linked to atrial fibrillation, which is a prevalent condition among older adults. As of August 2023, Eurostat, a Europe-based government agency, reported that over 21% of the EU population was aged 65 and above in 2022, with a median age reaching 44.4 years. This indicates that more than half of the population was older than this median age. Consequently, the growing geriatric population is playing a significant role in propelling the growth of the left atrial appendage (LAA) closure device market.

The projected high costs are expected to pose a hindrance to the growth of the left atrial appendage (LAA) closure device market in the future. Elevated costs may limit the accessibility and adoption of LAA closure devices, impacting both patients and healthcare providers. For instance, as of January 2024, according to Mediacalecart, a US-based provider of medical products, the Watchman FLX, an LAA closure device by Boston Scientific Corporation, is priced at $13,900. Consequently, the prohibitive costs are impeding the growth of the left atrial appendage (LAA) closure device market.

Major companies in the left atrial appendage closure device market are focusing on developing innovative products, such as the Watchman FLX, to advance the treatment of non-valvular atrial fibrillation (NVAF) and provide patients with an alternative to oral anticoagulation therapy. The Watchman FLX pro device, a self-expandable device implanted in the LAA, blocks the opening and prevents the formation of blood clots. For instance, in September 2022, Boston Scientific Corporation received approval from the Food and Drug Administration for Watchman FLX, designed to reduce the risk of stroke in individuals with NVAF. It is more flexible and accessible for implantation compared to previous versions, catering to a broader range of patients. It serves as a safe and effective option for those not eligible for oral anticoagulation therapy or facing challenges in managing such therapy.

In February 2022, Boston Scientific Corporation, a US-based medical device manufacturing company, acquired Baylis Medical Company, Inc. for $1.75 billion. Through this acquisition, Boston Scientific aims to bolster its position in the cardiology market, becoming the sole company with a comprehensive access portfolio paired with existing left-heart therapies such as left atrial appendage closure and atrial fibrillation ablation. Baylis Medical Company Inc., based in Canada, specializes in developing and manufacturing transseptal access solutions used to access the left atrium of the heart for procedures such as left atrial appendage closure.

Major companies operating in the left atrial appendage closure device market report are Johnson And Johnson Pvt Ltd., Abbott Laboratories, Medtronic plc., Atrium Medical Corporation, Boston Scientific Corporation, Gore Medical Inc., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, AtriCure Inc., Dune Medical Devices Ltd., Lifetech Scientific Corporation, Sahajanand Medical Technologies Limited, Occlutech, Cardiva Medical Inc., Sentreheart Inc., Aegis Medical Group, Coherex Medical Inc., EndoStim Inc., Conformal Medical Inc., Cardia Inc., Medical Device Business Service Inc., Protaryx Medical, Append Medical Ltd., Vascular Innovations Co. Ltd., Vivasure Medical Inc., Atritech Inc., CardiaMed AB, Cardialen Inc., Kalila Medical Inc.

North America was the largest region in the left atrial appendage closure devices market in 2023. The regions covered in the left atrial appendage closure device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the left atrial appendage closure device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A left atrial appendage closure device is a medical implant employed in the treatment of specific heart conditions, particularly in patients with atrial fibrillation (AF). These devices are surgically implanted in a minimally invasive procedure to mitigate the risk of stroke in AF patients. The primary mechanism involves sealing off or occluding the left atrial appendage (LAA), thereby preventing the entry and clotting of blood.

The two main categories of products within left atrial appendage closure devices are epicardial left atrial appendage (LAA) devices and endocardial left atrial appendage (LAA) devices. Epicardial left atrial appendage (LAA) devices encompass medical devices and techniques utilized for the closure or exclusion of the left atrial appendage from the exterior of the heart. This category includes both percutaneous and surgical procedures, with various end-users such as hospitals, ambulatory surgical centers, and other medical facilities.

The left atrial appendage closure device market research report is one of a series of new reports that provides left atrial appendage closure device market statistics, including left atrial appendage closure device industry global market size, regional shares, competitors with a left atrial appendage closure device market share, detailed left atrial appendage closure device market segments, market trends and opportunities, and any further data you may need to thrive in the left atrial appendage closure device industry. This left atrial appendage closure device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The left atrial appendage closure device market consists of sales of transcatheter devices, suture delivery devices, sealing material, delivery catheters, and imaging markers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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