Global Left Atrial Appendix (LAA) Closure Devices Market

New York, USA, September 21, 2022 (GLOBE NEWSWIRE) – According to a report published by Research Dive, Global Left Atrial Appendix (LAA) Closure Devices Market Expected to generate $8,218.10 million in revenue and grow at a CAGR of 20.97% throughout the analysis time frame from 2022 to 2031.

According to our analysts, with the increasing demand for left atrial appendix closure devices worldwide, the left atrial appendix (LAA) closure device market is expected to witness significant growth during the forecast period. Besides, the increasing number of elderly population who are more susceptible to stroke disease, atrial fibrillation, arrhythmia and many more is expected to boost the growth of the market during the estimated time frame. Moreover, the expansion of the healthcare sector in developing countries is expected to increase market growth during the time frame of the analysis. However, the high cost of the left atrial accessory (LAA) closure devices may hamper the growth of the market throughout the forecast time frame.

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Left atrial accessory (LAA) closure device market segments

The report segments the market into segments based on product, end use, and region.

Product: Sub-Segment of Endocardial LAA Devices to be Most Productive

The Endocardial LAA Devices subsegment is expected to generate revenue of $7,588.00 million during the estimated period. This is mainly because endocardial devices have a lower rate of complications, a shorter hospital stay, and many other benefits. Furthermore, Endocardial LAA Devices offer improved safety and efficacy through stroke management and the reduction of bleeding is expected to drive market growth during the forecast time frame.

End use: the hospital sub-section to be the most profitable

The hospital sub-segment is expected to generate $6,499.40 million in revenue during the analysis period. This is mainly due to the increased preference for LAA surgeries and the increasing adoption of left atrial appendage closure devices in hospitals. Additionally, the increasing availability of modern medical technology, skilled medical staff, and the increasing use of the latest left atrial appendage closure devices are the major factors expected to drive the growth of the market during the forecast period.

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Region: North America has broad growth opportunities

The North American region is expected to grow at a compound annual growth rate of 20.51% during the estimated time frame. The growing need for advanced solutions to treat atrial fibrillation and related complications and the increasing aging population in this region is expected to drive the regional growth of the market throughout the analysis period.

The impact of Covid-19 on the left atrial accessory (LAA) closure devices market

The Covid-19 outbreak has had a positive impact on the left atrial accessory (LAA) closure device market. This is mainly due to the increasing number of people suffering from atrial fibrillation (AF) and the rising number of elderly people worldwide. Moreover, increased support from governments for approvals for medical devices and the rise in the number of mobile clinical facilities worldwide has led to market growth during the pandemic period.

The main players in the market

Major Players in the Left Atrial Accessory (LAA) Closure Device Market include:

  1. Business Services for Medical Devices, Inc.
  2. Artcure, INC.
  3. SentreHEART, Inc.
  4. Oculotech
  5. Lifetech Scientific
  6. Cardia, Inc.
  7. Abbott
  8. Johnson & Johnson Private Limited
  9. Boston Scientific Company
  10. Lepu Medical Technology Co., Ltd.

These players are extensively working on developing new strategies and business methods such as mergers and acquisitions, partnerships, collaborations and product development to gain a leading position in the global industry.

For example, in October 2021, Boston Scientific Corp., a biomedical or biotech engineering company and a multinational manufacturer of medical devices used in interventional medical specialties, announced its acquisition of Baylis Medical Company Inc. A leading developer and marketer of innovative medical devices in the field of cardiology. With this acquisition, Boston Scientific aims to expand its product portfolio by offering treatments on the left side of the heart, such as atrial fibrillation ablation, left atrial appendix closure (LAAC), and mitral valve interventions.

Moreover, the report also presents other important aspects including SWOT analysis, financial performance of key players, product portfolio, and the latest strategic developments.

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