Appendage Management Market to Grow at a CAGR of 6.7% by 2028

The rising awareness regarding the side effects caused by anticoagulant drugs is expected to boost the demand for mechanical left atrial appendage closure devices in the appendage management market. According to the latest research by the company, the global appendage management market is projected to account for over US$ 352.5 Mn, in terms of value, by 2028 end. The report on the appendage management market further projects significant growth potential with average year-on-year growth rate pegged at 6.7% through 2028.

About 33.5 million people suffer from atrial fibrillation and according to the Centers for Disease Control and Prevention, approximately 130,000 patients suffering from atrial fibrillation die each year in the U.S. Atrial fibrillation increases the risk of stroke by five-fold and majority of individuals suffering from atrial fibrillation are aged 65 years and above. The appendage management market is categorized into epicardial and endocardial LAA closure devices for appendage management. The appendage management market is dominated by endocardial LAA closure device as epicardial LAA closure device is an emerging and a relatively new approach. Endocardial LAA closure devices segment contributes two-third of the total appendage management market share and is expected to continue to do so over the forecast period. Epicardial LAA closure devices segment in the appendage management market is expected to grow by 7.2% CAGR during the forecast period owing to their growing adoption and less complications associated with implantation of epicardial LAA closure devices as compared to endocardial LAA closure devices.

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LAA closure devices in the appendage management market are highly adopted in catheterization laboratories owing to the specialized function performed by the device, which can be efficiently implanted in the catheterization laboratories. Catheterization laboratories are specialized in diagnosis and treatment of problems, abnormalities and complications related to arteries and the chambers of the heart and play a vital role in the growth of the appendage management market. Moreover, the stent procedure used in implantation of the LAA closure devices is efficiently performed in catheterization laboratories contributing to the growth of the appendage management market. However, the growing popularity of LAA closure devices and their crossover success in clinical studies for safe and efficient occlusion of the left atrial appendage have increased their implementation in hospitals. Easy implantation features, advancing navigation and visualization technology and availability of products assisting in the implantation of LAA closure devices are further expected to contribute to the growing adoption of LAA closure devices by hospitals.

Owing to the presence of key players and higher healthcare expenditure, North America is projected to be the dominant region in the global appendage management market. Furthermore, the growing awareness amongst general population about atrial fibrillation and treatment against it as a precaution for heart stroke adds to the supremacy of the North America appendage management market. Europe is projected to be the prominent region in the global appendage management due to similar reasons. The Europe appendage management market is estimated to create incremental opportunity worth approximately US$ 49.0 Mn between 2018 and 2028. MEA is forecasted to behold high CAGR and potential to create a considerable revenue share in the global appendage management market. Regional penetration of manufactures and increased availability of LAA closure devices are likely to boost the growth of the appendage managements market in the MEA.

The company has segmented the global appendage management market based on product type, end user and region. In terms of revenue, the endocardial LAA closure device product type segment is expected to hold significant share over the forecast period. Additionally, the hospital end-use segment in the appendage management market is predicted to exhibit growth by 8.0% CAGR during the forecast period.

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The report tracks some of the key companies operating in the appendage managements market, including Johnson & Johnson Services, Inc., Cardia, Inc., Abbott Laboratories, LifeTech Scientific Co., Ltd, Medtronic plc., SentreHEART, Inc., Boston Scientific Corporation, Occlutech International AB, AtriCure, Inc., etc.

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