The left atrial atrial (LAA) closure device market is expected to generate $8,218.10 million and grow at a CAGR of 20.97% in the forecast period 2022-2031. [280-Pages]

The left atrial accessory (LAA) closure device market is expected to grow by 2031 due to the rising incidence of atrial fibrillation. The Hospitals sub-segment is expected to be the most beneficial. market in North Amarica The region will grow at a compound annual growth rate of 20.51% by 2031.

New YorkAnd January 12, 2023 /PRNewswire/ – Research Dive has added a new report to its offering, “Left Atrial Atrial Closure (LAA) Devices Market by Product (Epicardial LAA Devices, Endocardial LAA Closure Devices), End Use (Hospitals, Ambulatory Surgery Centers, etc.), and Regional Analysis (EuropeAnd North AmaricaAnd Asia Pacificand LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031”.

As per the report, the global left atrial accessory (LAA) closure device market is expected to generate revenue of Rs 8218.10 million dollars It is growing at a compound annual growth rate of 20.97% over the forecast period 2022-2031.

Market dynamics

Drivers: Increasing incidence of atrial fibrillation that can cause ischemic stroke along with increasing number of elderly people at high risk for serious diseases such as arrhythmia, atrial fibrillation and stroke due to weakened immune system are major driving factors for the global left atrial accessory (LAA) closure device market during the time frame of the analysis.

Opportunities: Improving healthcare infrastructure in developing countries such as BrazilAnd IndiaAnd MyanmarAnd turkeyAnd Thailandetc., growing technological advances in science and medical equipment are some of the factors to create ample growth opportunities for the global Left Atrial Appendage (LAA) Closure Device Market during the analysis years 2022-2031.

Limitations: The high cost of left atrial appendage closure devices is the primary factor holding back the growth of the market.

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The impact of Covid-19 on the market

The COVID-19 pandemic has positively impacted the global left atrial appendage (LAA) closure device market mainly due to increasing incidence of atrial fibrillation among people and growing aging population worldwide. In addition, increasing public awareness and initiatives taken by governments about left atrial appendage closure devices have also contributed to the growth of the market during the COVID-19 disaster. Moreover, the increasing number of mobile medical facilities worldwide along with the government’s support for medical device approvals are some of the other factors that have boosted the development of the market amid the pressures of the pandemic.

market segments

As per the report, the global left atrial appendage (LAA) closure devices market has been segmented into multiple segments based on product, end use, and regional analysis.

  • By product, the LAA contraceptive devices sub-segment is expected to have a significant growth rate and to collect revenue from $630.10 million during the forecast period. This growth is mainly because epicardial LAA devices are a successful solution for stroke control in patients with atrial fibrillation incompatible with oral anticoagulant medication. Moreover, epicardial LAAs are associated with an early and persistent decrease in systemic blood pressure at short-term follow-up. These factors are estimated to drive the growth of the sub-sector by 2031.
  • By end use, the hospital sub-segment of the global left atrial appendage closure (LAA) device market is expected to maintain a dominant market share and generate revenue of 6499.40 million dollars By 2031. This growth is due to the high preference for LAA surgeries and the increased adoption of LAA closure devices. Moreover, high availability of modern medical technologies, certified medical personnel, and expansion of use of state-of-the-art left atrial appendage closure devices are some of the other factors driving the growth of the sub-sector.
  • By regional analysis, the left atrial accessory (LAA) closure device market in North Amarica The region is expected to witness abundant growth opportunities and grow at a CAGR of 20.51% by 2031. This exponential growth is mainly due to the growing demand for advanced solutions to treat atrial fibrillation and the increasing number of elderly people across the region with weakened immune systems.

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leading market players

Some of the major players in the left atrial atrial (LAA) closure device market are:

  • Oclutec
  • Johnson & Johnson Private Limited
  • Abbott
  • CenterHeart Inc
  • Boston Scientific Company
  • Business services company for medical devices
  • Lifetech Scientific
  • Cardia Inc.
  • Libo Medical Technology Co., Ltd
  • Atrichor Corporation

These major players undertake various strategies such as product development and enhancement, mergers and acquisitions, partnerships, and collaborations to sustain the growth of the market.

For example, in August 2021Abbott Laboratories, a global medical device manufacturer, has announced the release of the Amplatzer Left Atrial Appendage Occular, another medical device now used to treat atrial fibrillation among the elderly. Moreover, the organization has also obtained approval from the United States Food and Drug Administration for the same.

The report also summarizes several important aspects including the financial performance of the major market players, SWOT analysis, product portfolio, and the latest strategic developments.

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Research Dive is a market research company based in Pune, India. By preserving the integrity and authenticity of the services, the company offers services that are based solely on its exclusive data model, enforced by a 360-degree search methodology, which guarantees a comprehensive and accurate analysis. With unprecedented access to numerous paid data resources, a team of expert researchers, and rigorous work ethics, the company delivers highly accurate and reliable insights. Scrutinizing relevant news releases, government publications, decades of trade data, technical papers and white papers, Research Research delivers the required services to its clients within the required time frame. Her expertise focuses on examining niche markets, targeting their key drivers, and spotting threatening barriers. Complementing this, he also has seamless collaborations with major industry enthusiasts that provide further distinction to his research.

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