Left Atrial Appendage Closure Devices Market Revenue to Cross USD 2.5B by 2027: Global Market Insights Inc.
The ambulatory surgical centers segment in the left atrial appendage closure devices market is poised to expand at more than a 28.4% CAGR through 2027, owing to the high preference for outpatient surgical settings.
SELBYVILLE, Del., September 13, 2021 (Newswire.com) - According to the latest report, "Left Atrial Appendage (LAA) Closure Devices Market by Product (Endocardial LAA Devices, Epicardial LAA Devices), By Procedure (Percutaneous, Surgical), By End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of left atrial appendage closure devices will cross $2.5 billion by 2027.
Atrial fibrillation prevalence augments parallelly with growing age, making it the most common arrhythmia affecting individuals aged 65 years and above. The aging population is amongst the key factors increasing the burden of atrial fibrillation, as the older population is more susceptible to arrhythmia and atrial fibrillation among other cardiac conditions. As per the United Nations' population statistics 2020, approximately 727 million individuals are aged 65 years or above globally, and the number is projected to reach 1.5 billion by 2050. The surging elderly population is predicted to promote the atrial fibrillation incidence, thereby facilitating the market's growth.
Additionally, the prevalence of atrial fibrillation increases steadily with growing age, from 3.7%-4.2% in people aged 60-70 years to 10%-17% in adults aged more than 80 years. The European Society of Cardiology statistics indicates the high prevalence and incidence of atrial fibrillation among elder adults.
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The epicardial left atrial appendage closure devices market was valued at around USD 87 million in 2020. Epicardial LAA devices have recently emerged as an effective alternative for stroke management in atrial fibrillation patients that are considered as non-compliant to long-term oral anticoagulation therapy. Available clinical data highlights that epicardial LAA devices aid in reducing the atrial fibrillation burden and can be related with an early and consistent decrease in systemic blood pressure on short-term follow-up. Furthermore, the epicardial LAA devices limit the need for antihypertensive medications than the endocardial approach.
The surgical segment in the left atrial appendage closure devices market captured 18% of revenue share in 2020 and is expected to expand at a 31.4% growth rate through 2017. The surgical approach for left atrial appendage occlusions has surged in recent years. Numerous surgical techniques for occluding the LAA incorporating various devices have been developed with variable prospects of success. Surgical closure of the LAA sac is recommended for elderly adults suffering from hypertension, kidney disorders and other co-morbidities. Observational studies and clinical data have linked the surgical LAA closure approach with reducing the incidence of stroke and mortality in patients with atrial fibrillation.
The left atrial appendage closure devices market for the ambulatory surgical centers segment is estimated to attain a CAGR of 28.4% till 2027, led by the high preference for outpatient surgical settings and an increasing number of ambulatory surgical centers. Ambulatory surgery centers provide high convenience to patients performing surgical procedures outside the hospital settings at affordable costs. Owing to these benefits, the number of outpatient surgical centers is on the rise. According to the MedPAC 2020 Report and Ambulatory Surgical Centers Association, there are 5,717 Medicare-certified ambulatory surgical centers in the U.S. alone. These healthcare facilities have demonstrated an exceptional ability to enhance their quality and increase their customer base. With a strong track record of performance in terms of patient convenience, satisfaction, safety, quality, and cost management, the segment share for ambulatory surgical centers is set to spur, thereby stimulating the market expansion during the forecast period.
China held a substantial revenue share in the Asia Pacific left atrial appendage closure devices market in 2020 and will reach over USD 225 million by 2027. This high industry growth is primarily attributed to rising prevalence of atrial fibrillation and expanding geriatric population across the country. According to the BMJ Journals, from 2014 to 2016, the prevalence of atrial fibrillation in China was reported to be 0.9%-2.4%, equating to 7.4 to 8.4 million people and only 6% among the affected population received anticoagulation therapy. The Guangzhou Heart Study, conducted from 2015-2017, reported that the overall prevalence of atrial fibrillation in the participants was 1.46% and increased with age. The prevalence among people aged 80 years and over was 5%.
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Some of the prominent players operating in the left atrial appendage closure devices market are Boston Scientific Corporation, AtriCure, Inc., Abbott Laboratories, Inc., Occlutech, Lifetech Scientific, SentreHEART, Cardia, Inc., & Johnson and Johnson. These major companies are engaged in implementing numerous strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.
Table of Contents (ToC) of the report:
Chapter 3 Left Atrial Appendage (LAA) Closure Devices Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027 (USD Million)
3.3 Industry impact factors
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By procedure
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
Browse the Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/left-atrial-appendage-closure-devices-market
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