Left Atrial Appendage Closure Devices Market Size, Share & Trends Analysis Report By Technique (Epicardial, Endocardial), By End-use (Hospitals, Others), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global left atrial appendage closure devices market size was estimated at USD 986.35 million in 2021 and is expected to witness a CAGR of 20.5% during the forecast period. There has been a considerable demand in the industry due to the rising prevalence of the atrial fibrillation, one of the most difficult conditions where appendage treatment is required. Increasing prevalence of the atrial fibrillation is credited to a high-calorie diet, smoking, and physical inactivity. The industry is witnessing strong demand, owing to the changes in lifestyle, better access to healthcare services, and rising geriatric population, prone to CVDs. Furthermore, electrophysiology procedures represent a significant opportunity to the market. Technological advancements in interventional treatments and improvements in the diagnosis pathway are the factors driving significant growth in the number of people treated with electrophysiology procedures. Effectiveness of the implants and procedural safety has greatly improved in developed as well as in developing country.

The market for left atrial appendage closure (LAAC) devices has been greatly impacted by the COVID-19 outbreak. The pandemic and the measures put in place to manage it have negatively impacted on the company’s operations and financial position. Hospitals, ambulatory surgery centers, and other treatment facilities reduced many elective procedures, resulting in a significantly reduced procedure volume. Moreover, non-urgent operations such as structural heart interventional surgeries were cancelled.

As per the study published in National Library of Medicine, the number of cardiac surgeries performed in England during the COVID-19 pandemic has decreased dramatically, by over 45,000 procedures, without an increase in the mortality risk for the majority of these treatments.

However, market players saw a sharp rebound in 2021, with sales across business segments higher than during the pandemic. Boston Scientifics’ revenue grew above 19% to $11.88 billion in 2021 during the last twelve months. The increase in revenue was primarily led by the higher sales for its Interventional Cardiology, Electrophysiology, and Urology as well as Pelvic Health. Due to increased physician utilization, its left atrial appendage (LAA) closure device, Watchman, has gained market share, thus strengthening its overall revenue growth.

Growing incidences of atrial fibrillation are anticipated to increase demand for left atrial appendage closure devices and propel market expansion. In the upcoming years, atrial fibrillation will become more common. The CDC estimates that between 2.7 million and 6.1 million people in the U.S. have AFib. In 2030, that number is expected to reach 12.1 million. Similar trends are being seen in Europe, where the number of people aged 55 and older, who have atrial fibrillation, is expected to increase from 9 million in 2010 to 14 million by 2060.

The projections also showed that by 2050, there will be about 72 million cases of atrial fibrillation and associated strokes in Asia. Additionally, the rise in the geriatric population and cardiovascular disorders further drives the market development. Cardiovascular illnesses like atrial fibrillation, which can result in heart attacks, are more likely to be caused by those over the age of 65. As a result, it is expected that there would be a high demand for these devices during the forecast period.

Expanded awareness campaigns in unexplored markets and government initiatives further present a multitude of opportunities for market expansion during the course of the forecast period. The 14th Five-Year Plan, which charts China's development path for the next five years, comprises a number of healthcare-related policy focuses, from improving balanced quality medical resources and endorsing tiered diagnosis systems to the development of high-end medical devices and the spread of remote medical care. Likewise, the growing importance in the Chinese region for regional and global strategy by the market players further stimulates in overall market growth.

The market is observing the introduction of new technologies, and approvals for the product which increases the competition within the industry. For instance, in August 2021, Abbott received the U.S. FDA approval for its Amplatzer Amulet LAAOccluder to treat individuals with atrial fibrillation. Johnson & Johnson is also developing a left atrial appendage closure device that could potentially enter the U.S. market next year.

While Boston Scientifics’ Watchman LAAC device won U.S. FDA authorization in 2015 after an unprecedented three FDA panel evaluations. As a result, the Watchman device has become one of the corporation's most notable growth drivers, and the device has enjoyed the U.S. LAAC market for the past six years. However, the market could be hampered by the availability of lower-cost alternatives and the high price of left atrial appendage atrial closure devices during the forecast period.

Technique Insights

Based on Techniques, the market is segmented into epicardial and endocardial. The endocardial segment garnered a large market share of more than 50% in 2021. The dominant share of the segment is credited to the various benefits, presented by endocardial LAA devices. Endocardial implants are considered to be easier for using. The availability of a wide range of products and robust product pipeline further contribute to segment growth.

The market share of endocardial LAAC devices has been further increased by a strong product pipeline of the devices, which includes the Watchman device, which was approved in the United States, and numerous others that are undergoing clinical trials. Additionally, these market leaders are actively spending in research activities that encourage innovation and enable them to offer cutting-edge solutions and generate the largest possible revenues.

Following table describes the epicardial devices available in the market:

The Epicardial segment is expected to grow at a lucrative rate during the forecast period. Epicardial procedures possess benefits over some endocardial device features. Anticoagulation is not necessary while using epicardial devices, not even immediately after the procedure. Furthermore, they provide an additional benefit by avoiding the need to implant a permanent device, as with the endocardial technique. The market is presently served and dominated by single-market players. SentreHEART was acquired by AtriCure, Inc. in August 2019. As a result, AtriCure greatly expanded the range of its product line by adding an item intended for electrophysiologists.

End-Use Insights

Based on end-use the market is classified into hospitals and others. The hospital segment held the largest share in 2021. Due to the increasing popularity of LAA surgeries and the growing acceptance of LAA closure devices in hospitals, they make up the largest end-use segment for left atrial appendage closure devices. Additionally, accessibility of the cutting-edge medical technologies, presence of the professional health workers, and expanding use of the most recent LAA closure devices are the factors expected to support the growth of the hospital segment.

Hospitals play a significant role in the whole healthcare system and are the primary source of money for the entire industry, which stimulates research and innovation. As a result, market players are working very hard to promote their products and services in hospitals, both financially and through marketing strategies. Boston Scientific collaborated with Med Axiom and Together MD in April 2015 to provide healthcare systems with value-based solutions. Similarly, following its CE mark in March 2019, Glen field Hospital is one of the first facilities to implant Boston Scientifics’ WATCHMAN FLX left atrial appendage closure (LAAC) device. Therefore, such activities encourage market expansion.

Ambulatory surgery clinics provide a more affordable option than hospitals for outpatient procedures. The emergence of ambulatory surgery center chains like Hospital Corporation of America and others will further enable outpatient surgical facilities more accessible and promote industry growth.

Regional Insights

In 2021, North America held the largest revenue share of more than 45.0%, owing to the increased incidences of atrial fibrillation, and is anticipated to hold a significant position in the global market for left atrial appendage (LAA) devices. The CDC estimates that between 2.7 million and 6.1 million Americans had atrial fibrillation in 2019; this number is likely to rise in line with the country's aging population.

Management of the left atrial appendage is crucial because atrial fibrillation increases the risk of a heart-attack. The well-known key players place a strong emphasis on developing strategic plans such as joint research initiatives, new product launches, market penetration, and distribution alliances to boost their commercial presence.

 Asia Pacific market for left atrial appendage closure (LAAC) devices is anticipated to witness significant growth during the forecast period owing to the improving healthcare systems, rising healthcare expenditure, and increasing awareness about the LAAC device. Besides, the company’s initiatives are also supporting regional market growth. During almost 20 years of R&D, the Life tech Scientific business has expanded from congenital occluders to presently having three product lines covering different aspects of heart disorders.  LAmbre will be a key revenue driver for Life tech Scientifics’ revenue growth for the future as their focus in structural heart products shift away from congenital occluders to LAA occluders.

Key Companies & Market Share Insights

Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to increase their market presence. Additionally, these market leaders are substantially funding research initiatives that encourage innovation, enable the commercialization of cutting-edge products, and maximize market share. For instance, in September 2022, Boston Scientific published that it has received U.S. FDA authorization for increased WATCHMAN FLX LAAC device labeling for dual anti-platelet therapy as a post-procedural medicine option. Likewise, In April 2022, Abbott announced that its AmplatzerTM Steerable Delivery Sheath is available in the U.S. in order to treat people with atrial fibrillation. This device is used in conjunction with the company's Amplatzer Amulet TM Left Atrial Appendage Occluder. Hence such emerging supporting technologies for LAAC procedures further fuel the market growth.

Furthermore, the number of innovative LAAC device products in pipelines that are at the early development or pre-clinical stage is anticipated to increase the market penetration and adoption, globally, during the forecast period. At the country level, the U.S. had the most pipeline products, representing the largest share of the global market. For instance, there is an ongoing clinical trial sponsored by Shanghai Micro Port Medical (Group) Co., Ltd., to evaluate Micro port Cardio Advance Left Atrium Appendage Closure’s safety and efficacy for preventing stroke in Non-valvular atrial fibrillation patients. Some of the prominent players in the global left atrial appendage closure (LAAC) devices market include:

• Boston Scientific Corporation

• Abbott

• AtriCure Inc.

• Life tech Scientific

• Cardia, Inc.

• Lepu Medical Technology (Beijing) Co. Ltd.

• Johnson & Johnson (Biosense Webster, Inc.)

Left Atrial Appendage Closure Devices Market Report Scope

Global Left Atrial Appendage Closure Devices Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global left atrial appendage closure devices market report based on the technique, end-use, and region:

• Technique Outlook (Revenue, USD Million; 2017 - 2030)

  • Epicardial

  • Endocardial

• End-Use Outlook (Revenue, USD Million; 2017 - 2030)

  • Hospitals

  • Others

• Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia