Global Left Atrial Appendage Closure Market 2017-2021

January 02, 2017
SKU:
IRTNTR11341
This market research study identifies AtriCure, Boston Scientific, Coherex Medical, and St. Jude Medical as the leading players in the global left atrial appendage (LAA) closure market. A comprehensive analysis of this market is also presented by the product type (epicardial LAA closure devices and endocardial LAA closure devices), end-user (heart clinics, hospitals, and ASCs), and geography (the Americas, APAC, and EMEA).

Overview of the global left atrial appendage (LAA) closure market

The global LAA closure market is anticipated to grow rapidly and post a CAGR of more than 33% during the forecast period. The increasing number of product approvals will drive the growth prospects for the global LAA closure market until the end of 2021. One of the major factors responsible for the increasing product approvals is the rising number of research activities by vendors. For instance, in March 2015, Boston Scientific received the US FDA approval of WATCHMAN device that consists of a catheter delivery system and is used to implant the device permanently in the LAA of the heart. Furthermore, in June 2016, AtriCure, received approval from the Ministry of Health, Labour and Welfare (MHLW) for its AtriClip products that include AtriClip Standard and the AtriClip Pro devices.

In terms of geography, EMEA accounted for the maximum market share in 2016 and will continue to dominate the market during the next few years. It has been observed that favorable guidelines for manufacturers and the increased awareness among physicians drives the adoption rate of LAA closure devices in the region. Also, the growing clinical trials produce high-quality data that further drives the adoption of LAA closure in EMEA.

Competitive landscape and key vendors

The global LAA closure market is in the nascent stage and has a presence of few key players that offer commercial products in the market. Since the market witnesses a stringent regulatory environment, new entrants find it difficult to enter the market.

Key vendors in this market are -

  • AtriCure
  • Boston Scientific
  • Coherex Medical
  • St. Jude Medical

Other prominent vendors in the market include Occlutech, Lifetech Scientific, and SentreHEART.

Segmentation by product type and analysis of the LAA closure market

  • Epicardial LAA closure devices
  • Endocardial LAA closure devices

The endocardial LAA closure device segment accounts for the maximum market share in 2016 and will continue to dominate the market during the next few years as well. Some of the major factors responsible for the market segment’s growth is the potential long-term cost-effectiveness and increasing product approvals in the market.

Segmentation by end user and analysis of the LAA closure market

  • Heart Clinics
  • Hospitals
  • ASCs

The hospital's segment accounts for the maximum market share in 2016 and will continue to dominate the market during the forecast period. Patients increasingly prefer this healthcare center because it procures medical products and consumables on bulk and engages closely with many suppliers, reimbursement authorities, and government entities.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2021?
  • What are the key factors driving the global left atrial appendage (LAA) closure market?
  • What are the key market trends impacting the growth of the global left atrial appendage (LAA) closure market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global left atrial appendage (LAA) closure market?
  • What are the market opportunities and threats faced by the vendors in the global left atrial appendage (LAA) closure market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the global left atrial appendage (LAA) closure market?

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