The COVID-19 outbreak has significantly affected the global Left Atrial Appendage Closure Devices Market. As per American Heart Association, people having high blood pressure, heart valve disease and congenital heart diseases are expected to develop severe coronavirus symptoms. Also, this virus can generate heart strokes through weakening of muscles of the heart. These fators will boost the demand for left atrial appendage closure divices and surge the market growth during the pandemic.
Furthermore, the leading manufactures in the global market are adopting various strategies such as product innovations and partnerships to increase their market share in the overall industry. For example, in July 2020, Boston Scientific Corporation announced that the “Watchman FLX left atrial appendage closure device” has been approved by U.S. Food and Drug Administration, which is used to minimize the threat of heart stroke in patients. The stroke reduction technologies are intended to improve technical safety and performance as well as treat large number of patients with non-valvular atrial fibrillation.
During the chaotic COVID-19 situation, we are helping our clients in understanding the impact of COVID-19 on global left atrial appendage closure devices.
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As per the recent study done by Research Dive, the global left atrial appendage closure devices market will reach up to $2,637.1 million in 2027, rising at a notable CAGR of 24.0% in the forecast time. The market segmentation has been done based on product, procedure, end-use, and region. The report provides detailed information on opportunities, driving factors, segments analysis, restraints, and key players in the market.
Factors Affecting the Market Growth
As per our analyst estimates, the rising prevalence of atrial fibrillation diseases owing to the change in lifestyles are some of the major factors propelling the global market growth. However, lower product penetration in middle and low-income countries are predicted to restrain the growth of the left atrial appendage closure devices market.
Endocardial LAA closure devices product and percutaneous procedure segment held the global market size
Based on a product, the global market is categorized into endocardial LAA closure devices and epicardial LAA closure devices. In both of these, endocardial LAA closure devices segment held the global market size, it was valued over $359.3 million in 2019 and is anticipated to continutes its trend in the global market throughout the forecast years. This dominance is majorly attributed to extensive use of endocardial procedures in atrial fibrillation in the previous years.
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Based on procedure, the global market is majorly is categorized into surgical and percutaneous. Among these, percutaneous procedure accounted for majority of the left atrial appendage closure devices market share in the previous time, which was 85.0% and is projected to generate a revenue of $2,188.8 million till 2027. Percutaneous is widely utilized procedure due to several benefits such as minimize angina and better results in coronary artery diseases. This aspect will propel the market growth during the forecast time.
Hospital segment dominated highest revenue share
Based on end-use, the global left atrial appendage closure devices market is classified into hospitals, ambulatory surgey centers and others. Among these, hospitals end use accounted for largest left atrial appendage closure devices market share in the previous years and is expected to reach up to $1,569.1 million by the end of 2027. Increasing number of hospital admissions along with rising investments to advance healthcare facilities is expected to fuel the market growth during the estimated period. Along with, ambulatory surgery centers segment will witness to rise at a notable rate of 24.4% CAGR during the projected time and projected to account for $812.2 millions by 2027.
Left atrial appendage closure devices market, geographical Analysis
The North America dominated the global left atrial appendage closure devices market size in 2019, it valued at $172.6 million and is projected to surge at a growth CAGR of 23.4% during the prediction period. High prevelance rate of atrial fibrillation owing to change in lifestyle and early adoption of LAA closure devices due to improved healthcare infrastructure are projected to drive the market growth in the North America. Along with, Europe accounted for subsequent position in the overall marketplace in 2019 and is expected to be the most lucrative region throughout the forecast time. Increasing investments on technological developments expecially in Germany, UK and many other European countries, this factor will accelerate the growth of the market in the coming time.
Top 10 Leading Players in the Left Aatrial Appendage Closure Devices Market Includes:
- SentreHEART, Inc.
- Boston Scientific Corporation
- AtriCure, Inc.
- Occlutech
- Lifetech Scientific
- Cardia, Inc.
- Aegis Medical Group.
- Biosense Webster, Inc.
- Johnson & Johnson Services, Inc.
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