Press release
Left Appendage Occlusion Device Market Size Soars: Projected 21.2% CAGR Growth by 2031
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According to the latest research by InsightAce Analytic, the global Left Appendage Occlusion Device market is valued at US$ 960.0 Million in 2022, and it is expected to reach US$ 5381.3 Million by 2031, with a CAGR of 21.2 % during a forecast period of 2024-2031.
The left appendage occlusion device is utilised in procedures like thoracoscopic left atrial appendage closure and percutaneous transluminal left atrial appendage occlusion. The electrical impulses during atrial fibrillation are controlled with a left appendage occlusion device. Blood clots are expelled from the heart during atrial fibrillation. In the atria and LAA, this blood can clot. A stroke may result from this medical condition. The left appendage occlusion device is an interventional tool used to prevent stroke in atrial fibrillation. Adopting a left appendage occlusion device lowers the chance of subsequent stroke and emboli due to atrial fibrillation.
Over the course of the forecast period, the left appendage occlusion device market is anticipated to expand quickly. Growing instances of atrial fibrillation are anticipated to increase demand for left appendage occlusion devices and accelerate market expansion. Increased consumer awareness, new product releases in foreign markets, and clinical evidence of the effectiveness of left appendage occlusion devices compared to mainstream therapeutic treatments like warfarin and dabigatran are significant factors driving the market expansion. However, the necessity for skilled surgeons and the challenging implantation procedures limit the industry's constraints. Introducing new products is hampered by the strict regulatory requirements for device approval.
North America is anticipated to be the major contributor to the Left Appendage Occlusion Device market over the forecast years. In order to reduce the burden of the conditions, there are strong medical technology businesses, CDMOs for medical equipment, and even strong backing from the federal government.
Atrial fibrillation is becoming more common, and the Left Appendage Occlusion Device offers many benefits, which are some of the known drivers driving the market. In addition, the Asia Pacific Left Appendage Occlusion Device market is expected to grow significantly during the forecast period. The market is being driven by both technological advancements and an increase in the prevalence of atrial fibrillation in the elderly population. Cardiovascular diseases that result in heart attacks are more common in people over 65. Strong demand for these devices is anticipated over the projection period as a result. A surge in government initiatives to raise public awareness about cardiovascular illnesses is also helping to boost the industry.
Major market players operating in the Left Appendage Occlusion Device market include Atricure, Boston Scientific, Biosense Webster, Abbott Laboratories, Aegis Medical, Cardia, Lifetech Scientific, and Sentreheart.
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Recent collaborations and agreements in the market:
• In August 2021, the Amplatzer Amulet Left Atrial Appendage (LAA) Occluder manufactured by Abbott Laboratories was given FDA approval in the United States. The purpose of these devices is to treat atrial fibrillation. This approval will help the business increase product sales and take a significant market share in the United States.
• In July 2020, the FDA in the United States approved Boston Scientific Corporation's WATCHMAN FLX Left Atrial Appendage Closure (LAAC) Device. This approval helped the business improve the left atrial appendage closure devices it offered, giving it a competitive edge in the market.
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Market Segments
Global Left Appendage Occlusion Device Market, by Brand, 2024-2031 (Value US$ Mn)
• Sierra
• AtriClip
• WaveCrest
• Amplatzer Amulet
• WATCHMAN
• Ultrasept
• LAmbre
• LARIAT
Global Left Appendage Occlusion Device Market, by Distribution Channel, 2024-2031 (Value US$ Mn)
• Hospitals
• Ambulatory Surgical Centers
• Heart Clinics
Global Left Appendage Occlusion Device Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Left Appendage Occlusion Device Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Left Appendage Occlusion Device Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Left Appendage Occlusion Device Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Left Appendage Occlusion Device Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Left Appendage Occlusion Device Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Left Appendage Occlusion Device market
To receive an industry overview and future trends of the Left Appendage Occlusion Device market
To analyze the Left Appendage Occlusion Device market drivers and challenges
To get information on the Left Appendage Occlusion Device market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Left Appendage Occlusion Device market industry
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