Market trends for the global Left Atrial Appendage (LAA) Closure Device Market indicate growth over the forecast period and into 2027. Overall, the global LAA market had a valuation of approximately $697 million in 2020. Due to the global COVID-19 pandemic, the LAA market experienced a significant decrease in revenue between 2019 and 2020. Despite this, the market is recovering into 2021 and 2022, leading iData’s analysts to predict that it will reach a value of about $2.2 billion by 2027.
WHAT ARE LEFT ATRIAL APPENDAGE CLOSURE DEVICES?
The left atrial appendage (LAA) is a small pouch in the wall of the left atrium. It is unknown what function the LAA performs. In patients with normal heart rhythm, the heart contracts with each heartbeat. As the heart contracts, blood is pushed from the left atrial appendage into the left atrium and from the left atrium into the left ventricle. Atrial fibrillation (AF) is an abnormal heart rhythm. Patients with AF experience episodes of rapid and irregular beating. As a result of irregular beating, the atrium in AF patients does not completely contract, impeding the flow of blood from the atria into the ventricles. Blood that is not expelled from the left atria collects in the sac-shaped LAA. Once in the LAA, movement of the blood slows. As blood slows, it tends to clot.
LAA closure devices were developed as an alternative method of reducing the risk of stroke in AF patients. LAA closure devices are used to seal off the LAA, preventing clot formation in the LAA and eliminating the need for the patient to take blood-thinning medication.
WHAT FACTORS ARE DRIVING THE LAA MARKET AND PROCEDURAL GROWTH?
Overall, procedures are increasing as LAA closure devices gain popularity over anticoagulation therapy. More positive long-term results are underway before these procedures can be considered the standard treatment. The prevalence of atrial fibrillation among patients is increasing over the forecast period. Because of this, competitors within the space are funding trials and studies proving the safety and effectiveness of their respective devices.
Additionally, market trends indicate that the global left atrial appendage closure device market will experience substantial growth over the forecast period, despite COVID-19 headwinds. All in all, the global market for LAA closure devices is composed of endocardial and epicardial devices. Growth in the LAA closure device market will be driven primarily by growth in the unit sales of endocardial devices. This is due to endocardial procedures being the most common, as well as ASPs that are much higher than those of epicardial devices. While growth is strong within the endocardial device segment, epicardial clip devices are projected to experience strong growth over the forecast period as well. This growth is driven by increases in both epicardial clip procedures as well as increasing ASPs.
WHAT FACTORS ARE LIMITING THE LAA MARKET AND PROCEDURAL GROWTH?
One of the largest factors currently limiting the global left atrial appendage closure device market is the entrance of new competitors. LAA devices are increasing in recognition. As a result, they are increasing in popularity and many other competitors want to enter the growing market. This is the case with Abbott, which started an FDA investigational device exemption (IDE) trial in 2016 for its Amplatzer™ Amulet™ LAA closure product. With more competition, the growth of the LAA closure device market will slow down.
Additionally, in July 2015, the U.S. Food and Drug Administration (FDA) issued a safety communication alerting healthcare providers and patients of reports of negative patient outcomes with the use of SentreHeart’s Lariat® Suture Delivery Device to close the LAA in AF patients for the purpose of stroke prevention. The dissemination of adverse event reports has had a negative impact on Lariat® unit sales and limited the growth of the epicardial LAA closure device segment.
WHO ARE THE TOP LEFT ATRIAL APPENDAGE DEVICE COMPANIES?
Boston Scientific, Abbott, and AtriCure are the leading competitors within the LAA market. However, Boston Scientific was the overall leader of the LAA market. Boston Scientific offers its WATCHMAN™ LAA closure devices as an endocardial option. The WATCHMAN™ was approved by the U.S. FDA in 2015 and has since taken over the LAA market. While Boston Scientific accounts for the majority of the market, once other endocardial devices start getting regulatory approval, Boston Scientific should lose some share to new entrants.
GLOBAL LEFT ATRIAL APPENDAGE CLOSURE DEVICE MARKET RECAP AND FURTHER INSIGHTS
For more information on unit sales, average selling prices (ASPs), procedural volume, competitive analyses, and more, follow the link below to receive a free market synopsis for the Global Left Atrial Appendage Market Report, which is a part of our Global Cardiac Surgery Market Report series.