The left atrial appendage closure device market size is estimated to be USD 991.5 million in 2022 and is expected to witness a CAGR of 21.5% during the forecast period 2023-2033. Increasing prevalence of atrial fibrillation, changes in lifestyle, improved access to healthcare services, and rise in the number of elderly people who are susceptible to CVDs are projected to drive the market growth in near future. Furthermore, adoption of new technologies and product approvals and government schemes and increasing awareness campaigns is projected to support the market growth. However, availability of less expensive alternatives and the high cost of left atrial appendage atrial closure devices are predicted to limit market growth are expected to restrain the market growth.

The adoption of new technologies and product approvals is predicted to propel the market growth. For instance, Abbott’s Amplatzer Amulet LAAOccluder for the treatment of atrial fibrillation obtained U.S. FDA approval in August 2021. A left atrial appendage closure device that Johnson & Johnson is working on could possibly reach the American market the next year.

Government schemes and increasing awareness campaigns is projected to support the market growth. A number of policies focuses on healthcare are included in the 14th Five-Year Plan, which outlines China’s development course for the following five years. These policy focuses range from the enhancement of balanced quality medical resources and support for tiered diagnosis systems to the development of high-end medical devices and the expansion of remote medical care. Additionally, the market participants’ increasing emphasis on regional and global strategy in the Chinese region spurs on overall market growth.

Segmentation

By Technique

The market is categorized into endocardial and epicardial. In 2022, the endocardial segment accounted for the highest revenue share due to the multiple advantages offered by endocardial LAA devices. Endocardial implants are regarded to be more user-friendly. A diverse selection of products is easily accessible, and a strong product pipeline also supports segment growth. The market share of endocardial LAAC devices has grown further as a result of the devices’ robust product pipeline, that includes the Watchman device, which received US approval, and numerous other devices that are presently undergoing clinical testing. Additionally, these market leaders are actively investing in research initiatives that promote innovation, offering them the ability to provide advanced solutions, and help them to achieve the highest revenue levels.

By End User

The market is categorized into ambulatory surgical centres, hospitals, and others. In the global market, the hospitals segment accounted for the largest revenue share in 2022 owing to rising popularity of LAA procedures and the growing acceptability of LAA closure devices in hospitals. The availability of advanced medical technology, the presence of qualified healthcare professionals, and the adoption of the most recent LAA closure devices are additional factors anticipated to boost the expansion of the hospital segment. The key source of funding for the entire sector and a major player in the healthcare system, hospitals encourage research and innovation. Market participants are therefore making a significant amount of effort to market their products and services in hospitals, both financially and through marketing techniques.

Regional Markets

In 2022, North America region accounted for the highest revenue in the left atrial appendage closure device market and is expected to maintain its dominance during the forecast period. This is attributed to rising prevalence of atrial fibrillation. According to the CDC, between 2.7 million and 6.1 million Americans experienced atrial fibrillation in 2019. As the country’s population ages, this number is expected to rise. Atrial fibrillation elevates the risk of a heart attack, making management of the left atrial appendage essential. The well-known important players put a lot of focus on creating strategic plans, including collaborating on research projects, launching new products, entering into new markets, and forming distribution alliances. The Asia Pacific left atrial appendage closure (LAAC) device market is predicted to exhibit considerable expansion throughout the forecast period due to developing healthcare systems, increasing health care costs, and growing public awareness of the LAAC device.

Competitor Insights

Some of the key players operating in the left atrial appendage closure device market are Lepu Medical Technology (Beijing) Co. Ltd., AtriCureInc., Life tech Scientific, Cardia, Inc., Boston Scientific Corporation, and Johnson & Johnson (Biosense Webster, Inc.).

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Boston Scientific launched in September 2022 that the U.S. FDA has approved increased WATCHMAN FLX LAAC device labelling for dual anti-platelet treatment as a post-procedural medication option. Similarly, Abbott announced in April 2022 that its AmplatzerTM Steerable Delivery Sheath is now accessible in the United States for the treatment of atrial fibrillation.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including technique and end user from 2022 to 2033.

Report Scope:

Segmentation: Left Atrial Appendage Closure Device Market Report 2022 – 2033

Technique (Revenue, USD Million), 2022 – 2033

• Endocardial
• Epicardial

End user (Revenue, USD Million), 2022 – 2033

• Ambulatory Surgical Centres
• Hospitals
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA