NEW YORK, May 27, 2019 (GLOBE NEWSWIRE) -- The global left atrial appendage (LAA) closure devices market is anticipated to reach USD 958 Million by 2025, while augmenting at a significant CAGR of 19.8% during the forecast period.The growth in the market is attributed to the rising prevalence of atrial fibrillation and technological advancements in LAA closure devices. Moreover, rising adoption of minimally invasive therapies and growing aging population across the globe along with favorable government initiatives and increasing awareness for LAA devices to fuel the market demand over the forecast period. However, high cost of LAA devices may hamper the industry growth to some extent.
LAA closure device is the implantable cardiac devices which are designed to place in the left atrial appendage. The devices have potential to influence the clinical approach to stroke prevention in patients with atrial fibrillation.
Key findings from the report:
- The global left atrial appendage (LAA) closure devices market is expected to reach USD 958 Million by 2025 at a CAGR of 19.8% during 2019-2025
- On the basis of product, the endocardial LAA closure devices segment held the major share of the market in 2018
- On the basis of end-user, the hospital laboratories held the major share of the market in 2018
- Geographically, North America held the major share of the global market in 2018
- Some of the key companies operating in the market include Abbott; AtriCure, Inc.; Boston Scientific Corporation; Lifetech Scientific; SentreHEART, Inc.; Cardia, Inc.; Occlutech International AB; Lepu Medical Technology (Beijing) Co., Ltd.; and Aegis Medical., among others
Left Atrial Appendage (LAA) Closure Devices: Market Insight
Atrial fibrillation is a common significant cardiac arrhythmia, affecting approximately 33 million individuals worldwide. It is associated with a substantially higher risk of thromboembolism, particularly stroke events, resulting in significant morbidity and mortality across the globe. Additionally, more than 9% of people over 65 suffer from atrial fibrillation, irregular heartbeat that can lead to clot the blood, stroke, heart failure, and other heart-related complications. Moreover, surgical treatment of the left atrial appendage has increased over the past few years. The left atrial appendage closure devices are treatment strategy to reduce the risk of left atrial appendage blood clots from entering the bloodstream.
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Left Atrial Appendage (LAA) Closure Devices Market – Regional insight
Geographically, North America held the largest share of the market in 2018. The growth in the region is attributed to the rising prevalence of cardiovascular disorders, growing awareness among people, and growing government initiative. In the United States, it is estimated that 2.2 million people are affected from atrial fibrillation. Moreover, growing adoption of LAA closure device, favorable reimbursement environment, and growing development in LAA closure devices are further augmenting the market growth in the United States. However, Asia-Pacific region is expected to witness highest CAGR during the 2019-2025.
This report segments global left atrial appendage (LAA) closure devices market based on product, end-user and region.
By Product
- Endocardial LAA Closure Devices
- Epicardial LAA Closure Devices
By End-User
- Ambulatory Surgical Centers
- Hospitals
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East and Africa (MEA)
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