Left atrial appendage (LAA) closure devices market is expected to grow at a CAGR of around 36% during the period 2019−2025.
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Left Atrial Appendage (LAA) Closure Devices Market – Segmentation
Left Atrial Appendage (LAA) Closure Devices Market by Product
Left Atrial Appendage (LAA) Closure Devices Market by End-user
Left Atrial Appendage (LAA) Closure Devices Market – Dynamics
The global LAA closure devices market is growing at a phenomenal rate and offers tremendous growth opportunities both for the existing and upcoming players. Many vendors are investigating a significant amount on conducting clinical studies to develop and commercialize the next generation LAA closure devices. Vendors usually conduct clinical trials to receive regulatory approvals and expedite time-to-market. As a result, vendors are focusing on conducting clinical trials to generate abundant clinical evidence regarding the safety and efficacy of the LAA closure devices. The availability of clinical data encourages end-users to use LAA closure procedures as well as LAA closure devices. The adoption of LAA closure devices is growing due to the availability of positive clinical data supporting the safety and efficacy of the LAA closure procedure. The result from several clinical trials conducted across the globe is encouraging HCPs to use such devices for treating AF.
Key Drivers and Trends fueling Market Growth:
Left Atrial Appendage (LAA) Closure Devices Market – Geography
North America obtained a dominant position for LAA closure devices and accounted for a 68% share in the global market in 2019. The presence of a large proportion of the disease population, coupled with better access to treatment for AF, specifically LAA closure devices, is the primary factor for its high market share. The strong presence of key LAA closure devices vendors is also another reason for high LAA closure devices uptake in the North American region. The rise in the number of AF patient population due to factors such as coronary artery diseases, high blood pressure, heart attack and the necessity to treat the disease is expected to boost the market growth during the forecast period.
Left Atrial Appendage (LAA) Closure Devices Market by Geography
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