Left Atrial Appendage Closure Devices - Market Insights, Competitive Landscape and Market Forecast - 2030

Left Atrial Appendage Closure Device Market By Product (Endocardial And Epicardial), End-User (Hospitals, Ambulatory Surgical Centers, And Others), and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of cardiovascular disorders and increasing technological advancements in the domain of left atrial appendage closure devices
The global Left Atrial Appendage Closure Device Market was valued at USD 1,388.71 million in 2023, growing at a CAGR of 19.96% during the forecast period from 2024 to 2030 to reach USD 4,927.04 million by 2030. The demand for Left Atrial Appendage Closure devices is primarily being bolstered by the rising prevalence of cardiovascular disorders such as atrial fibrillation, ischemic strokes, and heart attacks. Additionally, increasing technological advancement in the domain of Left Atrial Appendage Closure is another key factor that is contributing to the growth of the Left Atrial Appendage Closure market during the forecast period from 2024-2030.

Left Atrial Appendage Closure Device Market Dynamics:

As per the data provided by the American Heart Association 2020, it was estimated that in Europe more than 9 million individuals, who were older than 55 years were suffering from atrial fibrillation in the year 2010, which is expected to reach 14 million by 2060. Additionally, the same source stated that by the year 2050, there will be about 72 million cases of atrial fibrillation and associated strokes in Asia. Thus, the rising prevalence of cardiovascular disorders such as atrial fibrillation due to various factors including high-calorie diet, smoking, and physical inactivity, will create a need for the management and treatment of cardiovascular disorders, thus resulting in the positive growth of the Left Atrial Appendage Closure Device market.

According to the 2021 data from the World Health Organization (WHO) for the years 2015-2050, the percentage of people aged 60 and above is projected to double from 12% to 22%, ultimately reaching 2.1 billion globally by the year 2050. Moreover, by 2030, 1 in 6 people will age 60 years or above.

Based on the 2019 data released by the United Nations Department of Economic and Social Affairs, the elderly population in eastern and southeastern Asia is anticipated to reach 177 million by 2050. With advancing age, the heart undergoes diverse structural and functional changes as part of the natural aging process. These alterations can impact the cardiovascular system, potentially contributing to the persistence or emergence of various cardiovascular disorders. Consequently, the increase in the geriatric population is expected to have a positive impact on the growth of the Left Atrial Appendage Closure Device market.

However, the high cost associated with the Left Atrial Appendage Closure Devices and the presence of alternate treatment methods in the market, are some of the key constraints that may limit the growth of the Left Atrial Appendage Closure Device market.

Left Atrial Appendage Closure Device Market Segment Analysis:

Left Atrial Appendage Closure Device market by Product (Endocardial and Epicardial), End-user (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the End user segment of the Left Atrial Appendage Closure Device market, the Hospital category is estimated to amass a significant revenue share in the Left Atrial Appendage Closure Device market in 2023. The rising prevalence of cardiovascular conditions such as atrial fibrillation, along with the improvement of hospital infrastructure and facilities, is expected to increase the demand for left atrial appendage closure devices. This trend is likely to support the growth of this particular segment. Hospitals serve as primary centers for the diagnosis, treatment, and management of atrial fibrillation, and they offer a wide range of services from medication management to interventional procedures. Moreover, hospitals are enhancing their cardiovascular departments and making investments in dedicated cardiac centers to address the increasing need for managing atrial fibrillation. Additionally, within hospital settings, there is a rising trend in the adoption of advanced treatment approaches, such as minimally invasive procedures like catheter ablation and left atrial appendage closure. This trend attracts patients seeking contemporary medical treatments and care.

Therefore, owing to the above-mentioned factors, the hospital category is expected to register significant growth, thereby driving the growth of the overall Left Atrial Appendage Closure Device market during the forecast period.

North America is expected to dominate the overall Left Atrial Appendage Closure Device Market:

North America is expected to account for the highest proportion of the Left Atrial Appendage Closure Device Market in 2023, out of all regions. This is due to the presence of developed and sophisticated healthcare infrastructure, and the high prevalence of cardiovascular disorders in the region. Additionally, rising technological advancements, presence of major players in the region, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Left Atrial Appendage Closure Device Market in North America.

According to the 2020 data from the American Heart Association, an estimated 3 to 6 million individuals in the United States suffer from atrial fibrillation, and this number is projected to increase to 6 to 16 million by 2050. Additionally, the Centers for Disease Control and Prevention reported in 2023 that approximately 60 million women (44%) in the United States live with some form of heart disease annually on average. Furthermore, in 2021, 310,661 women in the United States succumbed to heart disease, according to the same source. The escalating prevalence of cardiovascular disorders, influenced by factors like sedentary lifestyles, alcohol and tobacco consumption, and obesity, is creating a demand for effective management and treatment. Consequently, this trend is expected to positively impact the growth of the Left Atrial Appendage Closure Device Market in the United States, thereby propelling the overall market in North America.

Additionally, the presence of key market players in the region including Boston Scientific Corporation, Johnson & Johnson, and Abbott Laboratories is another contributing factor responsible for the growth of the Left Atrial Appendage Closure Device market in North America.

Moreover, the positive growth of the North American Left Atrial Appendage Closure Device market is further driven by significant product launches and approvals in the region. An illustrative example is the FDA approval granted to Abbott in August 2021 for its Amplatzer Amulet Left Atrial Appendage Closure Occluder. This specific occluder is designed to address the needs of individuals with atrial fibrillation at risk of ischemic stroke
Therefore, the factors mentioned above, and the presence of key market leaders with increasing product launches and product approvals in the region are some of the important factors that are thereby responsible for driving the overall market for Left Atrial Appendage Closure Devices in North America during the forecast period.

Left Atrial Appendage Closure Device Market Key Players:

Some of the key market players operating in the Left Atrial Appendage Closure Device market include Boston Scientific Corporation, Johnson & Johnson, Abbott Laboratories, Articure, Occlutech, Cardia Inc., Lifetech Scientific Corporation, Lepu Medical Technology, Biosense Webster, SentreHEART, Inc., Conformal Medical, and Lifetech Scientific Corporation

Recent Developmental Activities in the Left Atrial Appendage Closure Device Market:

• In November 2023, Medtronic launched its Penditure Left Atrial Appendage Closure (LAA) exclusion system in the United States. Penditure is an implantable chip that is pre-loaded onto a single-use delivery system, designed for managing the Left Atrial Appendage Closure (LAA) during concurrent cardiac surgery procedures.
• In September 2023, Boston Scientific Corporation received U.S. Food and Drug Administration approval for its latest-generation WATCHMAN FLX™ Pro Left Atrial Appendage Closure Closure (LAAC) Device.

Key Takeaways from the Left Atrial Appendage Closure Device Market Report Study

• Market size analysis for current Left Atrial Appendage Closure Device market size (2023), and market forecast for 5 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Left Atrial Appendage Closure Device market.
• Various opportunities available for the other competitors in the Left Atrial Appendage Closure Device market space.
• What are the top-performing segments in 2023? How will these segments perform in 2030?
• Which are the top-performing regions and countries in the current Left Atrial Appendage Closure Device market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Left Atrial Appendage Closure Device market growth in the coming future?

Target Audience who can be benefited from This Left Atrial Appendage Closure Device Market Report Study

• Left Atrial Appendage Closure Device product providers
• Research organizations and consulting companies
• Left Atrial Appendage Closure Devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Left Atrial Appendage Closure Device
• Various End-users who want to know more about the Left Atrial Appendage Closure Device Market and the latest technological developments in the Left Atrial Appendage Closure Device Market.

Frequently Asked Questions for the Left Atrial Appendage Closure Device Market:

1. What is meant by Left Atrial Appendage Closure Devices?

Left Atrial Appendage Closure (LAA) Devices are medical devices designed to reduce the risk of stroke in patients with atrial fibrillation (AF) who are at high risk of stroke and are unable to tolerate long-term anticoagulation therapy.

2. What is the market for Left Atrial Appendage Closure Devices?

The global Left Atrial Appendage Closure Device Market was valued at USD 1,388.71 million in 2023, growing at a CAGR of 19.96% during the forecast period from 2024 to 2030 to reach USD 4,927.04 million by 2030.

3. What are the drivers for the global Left Atrial Appendage Closure Device market?

The Left Atrial Appendage Closure Device market is slated to witness prosperity owing to factors such as the rising prevalence of cardiovascular disorders such as atrial fibrillation, ischemic strokes, and heart attacks. Additionally, increasing technological advancement in the domain of Left Atrial Appendage Closure, is another key factor that is contributing to the growth of the Left Atrial Appendage Closure market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Left Atrial Appendage Closure Device market?

Some of the key market players operating in the Left Atrial Appendage Closure Device market are Boston Scientific Corporation, Johnson & Johnson, Abbott Laboratories, Articure, Occlutech, Cardia Inc., Lifetech Scientific Corporation, Lepu Medical Technology, Biosense Webster, SentreHEART, Inc., Conformal Medical and Lifetech Scientific Corporation.

5. Which region has the highest share in the global Left Atrial Appendage Closure Device market?

North America is expected to dominate the overall Left Atrial Appendage Closure Device market during the forecast period, 2024 to 2030. This is due to the presence of developed and sophisticated healthcare infrastructure, and the high prevalence of cardiovascular disorders in the region. Additionally, rising technological advancements, presence of major players in the region, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Left Atrial Appendage Closure Device Market in North America.


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