Left Atrial Appendage (LAA) Closure Devices Market Outlook 2031
The global left atrial appendage closure devices market size was USD 1.30 Billion in 2022 and is likely to reach USD 5.8 Billion by 2031, expanding at a CAGR of 20.6% during 2023–2031. The market growth is attributed to the high demand for electrophysiology procedures. Rising demand for electrophysiology procedures is anticipated to fuel the left atrial appendage closure devices market in the coming years.
Electrophysiology (EP) procedures are used to diagnose and treat heart rhythm disorders. In LAAC procedures, electrophysiology procedures are used to guide the placement of LAAC devices. Intracardiac echocardiography (ICE) is a type of electrophysiology procedure that allows real-time imaging of the heat during LAAC procedures. It is mostly helpful for mapping structures that are not visible by fluoroscopy, such as the papillary muscles, interatrial or interventricular septum, and intracavitary muscular ridges.
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In April 2021, the American College of Cardiology offered the Electrophysiology Device implant registry, which includes data on ICD and CRT-D procedures earlier captured in the NCDR ICD registry and offers the flexibility to capture novel pacemaker procedures. The extended scope of the EP Device Implant Registry allows hospitals to track new and existing procedures, which gives them the ability to improve patient care and outcomes.
The market report finds that the COVID-19 pandemic hindered the left atrial appendage closure devices market, owing to the strict lockdown imposed by the government. The import and export of LAA devices stopped during the pandemic, due to the strict regulations imposed by the government worldwide, which hampered the market.
However, the increasing adoption of LAA closure devices, target disease diagnosis, and surgical safety compliance has improved technological advancements and the advent of telemedicine, which boosted the market.
Left Atrial Appendage (LAA) Closure Devices Market Dynamics
Major Drivers
Increasing incidences of atrial fibrillation is expected to boost the left atrial appendage closure devices market during the forecast period. LAA closure procedures are operated to lessen the risk of thromboembolism from the LAA in patients with nonvalvular atrial fibrillation who are not good candidates for long-term anticoagulation.
LAA closure procedure involves placing a device in the left atrial appendage to block or close the opening to stop blood clots from leaving there and going into the bloodstream, which can cause a stroke. The most commonly used device is the WATCHMAN device, which is a self-expansion, parachute-shaped device with a knitted woven plastic cap. The procedure is performed under general anesthesia and involves inserting a delivery catheter into the body through a vein in the leg.
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In September 2023, Boston Scientific Corporation received approval from the US Food and Drug Administration (FDA) for the latest generation WATCHMAN FLX Pro LAA Closure devices. It is designed to further advance the procedural performance and safety of the WATCHMAN technology, which is indicated to reduce stroke risk of patients with non-valvular atrial fibrillation (NVAF), who need an alternative oral anticoagulation therapy, the device now features a polymer coating, visualization markers and a border size matrix to treat a wider range of patients.
Existing Restraints
High cost of LAA closure devices and the availability of substitutes are expected to hamper the left atrial appendage closure devices market. Oral anticoagulation is an alternative to LAA closure devices and it is advised in individuals with non-valvular atrial fibrillation. Increasing developments in non-vitamin K oral anticoagulants such as apixaban and rivaroxaban have made using oral anticoagulants easy for people at risk of thromboembolic events. This, in turn, is expected to hinder the LAA closure devices market.
Emerging Opportunities
Expansion of the healthcare sector in developing countries is expected to create lucrative opportunities for the market players. High demand for LAA closure devices in developing countries such as India, Thailand, Brazil, and others fuels the market.
Hospitals and healthcare organizations are accepting new innovations that are offered in the market to lessen the casualties of patients who are suffering from atrial filtration, which increases stroke risk. However, increasing technological advancements are create opportunities in the LAA closure devices market. Several companies are focusing on launching devices, which increases the demand for the market.
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In April 2021, Abbott received approval from the US FDA for the company’s Amplatzer Amulet LAA occluder to treat people with atrial fibrillation (AFib) who are at risk of ischemic stroke. This device offers immediate closure of the LAA an area where blood clots form in people suffering from AFib reducing their risk of stroke and immediately eliminating the need for blood-thinning medication.
Scope of Left Atrial Appendage (LAA) Closure Devices Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Left Atrial Appendage (LAA) Closure Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Endocardial LAA Devices and Epicardial LAA Devices), and End-user (Hospitals, Ambulatory Surgery Centers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott; Acutus Medical, Inc.; Aegis Medical Group; ATRICURE, INC; Boston Scientific Corporation; Cardia, Inc.; Johnson & Johnson Services, Inc.; Lepu Medical Technology (Beijing)Co., Ltd.; Lifetech Scientific; and Occlutech
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Left Atrial Appendage (LAA) Closure Devices Market Segment Insights
Product Segment Analysis
Based on product, the left atrial appendage closure devices market is divided into endocardial LAA devices and epicardial LAA devices. The endocardial LAA devices segment is expected to expand at a significant pace during the projection period, as it has low rates of complications and readmissions. The segment growth is further attributed to the availability of a wide range of products and the robust product pipeline. Endocardial LAA devices have shown in several clinical studies that are effective and safe in managing stroke and reducing bleeding.
End-user Segment Analysis
On the basis of end-user, the market is segmented into hospitals, ambulatory surgery centers, and others. The hospitals segment is expected to hold a large share of the market in the coming years, owing to the rising popularity of LAA surgeries. High adoption of the LAA closure devices and the availability of advanced medical technologies increase in hospital acceptance of LAA closure devices, which is expected to boost the segment.
Several key players are focusing on promoting their services and products in hospitals, financially and by marketing strategies. The ambulatory surgery centers segment is projected to register a robust growth rate during the forecast period, as they provide more affordable options than hospitals for outpatient procedures.
The segment growth is attributed to the increasing presence of ambulatory surgical facilities and the rising need for minimally invasive surgical methods. Ambulatory surgical centers are improving and accelerating post-surgery recovery and offer affordable and high-quality services, which is expected to boost the segment.
Regional Analysis
In terms of region, the global left atrial appendage closure devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the increasing incidences of atrial fibrillation.
The regional market growth is further attributed to the increasing acceptance of advanced LAA closure devices and well-developed healthcare infrastructure facilities. Several key players are focusing on launching new products and distribution alliances to increase their commercial presence, which is expected to boost the market.
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According to the Centers for Disease Control and Prevention (CDC), in 2030 it is expected that 12.1 million individuals in the US have atrial fibrillation. Atrial fibrillation cases rise with age and women generally live longer than men, and more women than men experience atrial fibrillation.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, due to the increasing healthcare expenditure. The regional market growth is attributed to the enhanced healthcare systems and rising awareness about LAA devices. Several companies are launching LAA devices, which increases the demand for the left atrial appendage closure devices.
Segments
The global left atrial appendage closure devices market has been segmented on the basis of
Product
- Endocardial LAA Devices
- Epicardial LAA Devices
End-user
- Hospitals
- Ambulatory Surgery Centers
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott
- Acutus Medical, Inc.
- Aegis Medical Group
- ATRICURE, INC
- Boston Scientific Corporation
- Cardia, Inc.
- Johnson & Johnson Services, Inc.
- Lepu Medical Technology (Beijing)Co., Ltd.
- Lifetech Scientific
- Occlutech
Competitive Landscape
Key players competing in the global left atrial appendage closure devices market are Abbott; Acutus Medical, Inc.; Aegis Medical Group; ATRICURE, INC; Boston Scientific Corporation; Cardia, Inc.; Johnson & Johnson Services, Inc.; Lepu Medical Technology (Beijing)Co., Ltd.; Lifetech Scientific; and Occlutech.
These key players adopt various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to expand their consumer base globally.
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In June 2022, Acutus Medical, Inc. launched an expanded suite of left-heart access products to include the AcQCross Qx system for the use with the TruSeal (TM) and FXD (TM) delivery system for the WATCHMAN LAAC Device.
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