Left Atrial Appendage Closure Devices Market Expected To Witness A Substantial Growth Of $5.7 Billion By 2030: Grand View Research Inc.



 The global left atrial appendage closure devices market size is expected to reach a value of USD 5.7 billion by 2030, registering a CAGR of 20.5% during the forecast period, according to a new report by Grand View Research, Inc. Increasing incidences of atrial fibrillation (AF) is expected to raise the left atrial appendage closure (LAAC) devices demand during the forecast period, which will further boost the market development.

The most prevalent arrhythmic condition in the world, AF affects more than 2.3 million individuals in the United States and 4.5 million in the European Union. With age, the incidence and disorder burden of AF increases, accounting for 15% of all strokes. The left atrial appendage (LAA) closure devices market has been greatly impacted by COVID-19. The pandemic prompted non-urgent operations, such as structural heart (SH) interventional surgery to be postponed or canceled, thereby, negatively impacting the market during 2020.

The COVID-19 outbreak had a temporary negative impact on product demand, significant delays in clinical trials, disrupted operations, and the market witnessed a detrimental effect on financial performance. For instance, AtriCure reported that its business was most impacted in the second, third, and fourth quarters of 2020, in terms of the decline in patients and revenue from the shelter-in-place restrictions in a majority of the countries and limitations on procedures in hospitals. However, the market witnessed growth from the third quarter of 2020, as patient procedure volume trends and availability of healthcare resources improved owing to a lift in certain restrictions.

The LAAC device industry is competitive and significantly affected by the new product introductions and other strategic activities of the industry participants. Market leaders are involved in the establishment of extensive distribution systems as well as increasingly engaged in mergers &acquisitions to capture a larger share of the market. For instance, in February 2022, Boston Scientific Corporation completed the acquisition of Baylis Medical Company Inc., a privately-held corporation that has developed the Versa Cross Transseptal Platforms including a family of sheaths, guidewires, and dilators used to support left heart access. Thus, expanded Boston Scientific Corporation’s electrophysiology and structural heart product portfolios.

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There has been a considerable demand in the industry due to the rising prevalence of the atrial fibrillation, one of the most difficult conditions where appendage treatment is required. Increasing prevalence of the atrial fibrillation is credited to a high-calorie diet, smoking, and physical inactivity. The industry is witnessing strong demand, owing to the changes in lifestyle, better access to healthcare services, and rising geriatric population, prone to CVDs. Furthermore, electrophysiology procedures represent a significant opportunity to the market. Technological advancements in interventional treatments and improvements in the diagnosis pathway are the factors driving significant growth in the number of people treated with electrophysiology procedures. Effectiveness of the implants and procedural safety has greatly improved in developed as well as in developing country.

Left Atrial Appendage Closure Devices Market Report Highlights

  • Endocardial dominated the technique segment of the left atrial appendage closure (LAAC) devices market in 2021. Endocardial implants are considered to be easier for using. The availability of a wide range of products also contributes to segment growth
  • The epicardial segment is expected to grow at a lucrative rate during the forecast period. Epicardial procedures possess benefits over some endocardial device features. Anticoagulation is not necessary while using epicardial devices, not even immediately after the procedure
  • The hospital segment held the largest share of over 77% in 2021. Due to the increasing popularity of LAA surgeries and the growing acceptance of LAA closure devices in hospitals, they make up the largest end-use segment for the left atrial appendage closure devices
  • Asia Pacific region is anticipated to register rapid growth in coming years owing to the presence of high unmet needs coupled with increasing patient awareness levels and improving healthcare infrastructure
  • Growing R&D investments by the key companies and geographic expansion, as well as an increase in product portfolios, are the factors expected to contribute to the market growth. In August 2021, Abbott has received U.S. FDA approval for its Amplatzer Amulet LAA Occluder to treat individuals with atrial fibrillation

The market for left atrial appendage closure (LAAC) devices has been greatly impacted by the COVID-19 outbreak. The pandemic and the measures put in place to manage it have negatively impacted on the company’s operations and financial position. Hospitals, ambulatory surgery centers, and other treatment facilities reduced many elective procedures, resulting in a significantly reduced procedure volume. Moreover, non-urgent operations such as structural heart interventional surgeries were cancelled.

As per the study published in National Library of Medicine, the number of cardiac surgeries performed in England during the COVID-19 pandemic has decreased dramatically, by over 45,000 procedures, without an increase in the mortality risk for the majority of these treatments.

However, market players saw a sharp rebound in 2021, with sales across business segments higher than during the pandemic. Boston Scientifics’ revenue grew above 19% to $11.88 billion in 2021 during the last twelve months. The increase in revenue was primarily led by the higher sales for its Interventional Cardiology, Electrophysiology, and Urology as well as Pelvic Health. Due to increased physician utilization, its left atrial appendage (LAA) closure device, Watchman, has gained market share, thus strengthening its overall revenue growth.

List of Key Players in the Left Atrial Appendage Closure (LAAC) Devices Market

  • Boston Scientific Corporation
  • Abbott
  • AtriCureInc.
  • Life tech Scientific
  • Cardia, Inc.
  • Lepu Medical Technology (Beijing) Co. Ltd.
Johnson & Johnson (Biosense Webster, Inc.)

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