Selbyville, Delaware, May 11, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on left atrial appendage closure device market which estimates the global market valuation for left atrial appendage closure devices will cross US$ 2 billion by 2026. Presence of major patient pool suffering from atrial fibrillation is one of the major factors augmenting the market growth.
For instance, as per the recently published data, in the U.S., more than 2.3 million people suffer from atrial fibrillation that is associated with increased risk of stroke and mortality. Therefore, LAA closure devices play a vital role in reducing the risk of strokes. Moreover, increasing geriatric population across the globe will further contribute to the market growth. According to a recently published article, in the U.S., cardiovascular diseases affect over 40 million people that age above 60 years. Additionally, introduction of technologically advanced products for the treatment of atrial fibrillation will contribute to the significant growth of left atrial appendage closure device market over the forecast period.
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Rise in the government initiatives in order to raise awareness about cardiovascular diseases will enhance the market growth over the analysis timeframe. For instance, the Heart Truth is a national awareness program in the U.S. that generates awareness about the cardiovascular diseases and its risk factors. Such awareness programs will boost the demand for left atrial appendage closure devices. Moreover, a series of products in the pipeline for the treatment of atrial fibrillation as well as left atrial appendage closure will further boost the market growth. For instance, according to a recently published data, more than 2,300 products for atrial fibrillation are in the pipeline. Thus, increase in research and development related to the left atrial appendage occlusion will further enhance the market growth in the upcoming years.
The endocardial LAA closure devices dominated the market with a revenue exceeding USD 380 million in 2019 and is anticipated to witness lucrative growth over the forecast period. The segmental growth is attributed to the easy availability of endocardial LAA closure devices as compared to epicardial LAA closure devices. Moreover, owing to the wide range of existing devices such as Amplatzer Cardiac Plug and Watchman, the demand for endocardial LAA closure devices will expand in the future.
The percutaneous procedure segment held a market share of around 84% in 2019 and will showcase substantial growth over the analysis timeframe. Owing to its ability to reduce the high stroke risk as well as blood clots, the segment will show a significant growth in the upcoming years. Moreover, it helps in clinical identification of the most appropriate patients with non-valvular atrial fibrillation for LAA occlusion. Hence, the above mentioned factors will boost the product demand, thereby fostering the market growth.
The hospitals segment was valued at around USD 322 million in 2019 and will show a momentous growth in the projected years. The large share of this segment is attributed to the factors such as availability of accessories necessary for device implantation and easy implantation procedures in the hospitals. Thus, owing to the safe and competent occlusion of LAA in the hospitals, the segment growth will increase over the forecast period.
Browse key industry insights spread across 150 pages with 346 market data tables & 14 figures & charts from the report, “Left Atrial Appendage (LAA) Closure Devices Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/left-atrial-appendage-closure-devices-market
Japan held significant share in the Asia Pacific left atrial appendage closure devices market and is estimated to grow at a CAGR of around 22% in the projected years. The high growth can be attributed to the increasing prevalence of the atrial fibrillation and growing geriatric population in Japan. For instance, as per the recently published data, the overall prevalence of atrial fibrillation in the people aged 80 years or more is approximately 2-3% in Japan. Furthermore, increasing number of hospital admissions with atrial fibrillation as a primary cause will further enhance the growth of left appendage closure devices market.
Some major findings of the left atrial appendage closure device market report include:
- Increasing prevalence of atrial defibrillation across the globe will contribute to the left atrial appendage closure device market growth.
- Growing government initiatives to generate awareness about cardiovascular diseases will increase the demand for left atrial appendage closure devices.
- Competitors focus on new product launches, acquisitions and mergers in a bid to capture market share and strengthen revenue generation.
Some of the major players operating in the left atrial appendage closure device market are Boston Scientific Corporation, AtriCure Inc., Abbott, Occlutech, Lifetech Scientific, and Johnson and Johnson among others. Industry players are focusing on various strategies such as strategic acquisitions, approvals and new product launches to consolidate their market presence. For instance, in August 2019, AtriCure completed the acquisition of SentreHEART, Inc. that develops percutaneous left atrial appendage management solutions. This strategic acquisition will help AtriCure to increase their product portfolio thereby, expanding the market share.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Left atrial appendage closure device industry 3600 synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Procedure trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Left Atrial Appendage Closure Device Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing ageing population
3.3.1.2. Increasing prevalence of atrial fibrillation
3.3.1.3. Strong product pipeline
3.3.1.4. Increasing government initiatives
3.3.1.5. Technological advancements
3.3.2. Industry pitfalls & challenges
3.3.2.1. Presence of alternate technologies
3.3.2.2. High cost of LAA closure devices
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. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.7. Porter’s analysis
3.8. Competitive landscape, 2019
3.8.1. Company matrix analysis, 2019
3.9. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.