Left Atrial Appendage Closure Device Market Report 2024 - Closure Device Market Share And Demand

"The Business Research Company recently released a comprehensive report on the Global Left Atrial Appendage Closure Device Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the left atrial appendage closure device market size has grown exponentially in recent years. It will grow from $1.39 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to prevalence of atrial fibrillation, stroke prevention strategies, clinical evidence and research, minimally invasive alternatives, patient preference for non-pharmacological options, aging population, physician training and expertise..

The left atrial appendage closure device market size is expected to see rapid growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to rising global burden of atrial fibrillation, focus on stroke prevention in high-risk patients, expanding patient awareness, integration into standard clinical practice, global efforts in cardiovascular disease management.. Major trends in the forecast period include emergence of percutaneous closure techniques, advancements in device designs, increasing use of imaging technologies, focus on minimally invasive approaches, tailored device selection for patient anatomy..

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Market Drivers and Trends:
The rising prevalence of atrial fibrillation is expected to propel the growth of the left atrial appendage (LAA) closure device market going forward. Atrial fibrillation is a medical condition characterized by an irregular and often rapid heartbeat. It occurs when the heart's upper chambers, called the atria, do not beat in a coordinated and rhythmic manner. Left atrial appendage (LAA) closure devices are primarily used in treating atrial fibrillation by reducing the risk of stroke in patients with this cardiac arrhythmia and preventing blood clots from forming or escaping. For instance, in October 2022, according to reports published by the Centers for Disease Control and Prevention, a US-based government agency, atrial fibrillation was the predominant diagnosis in more than 454,000 hospital admissions each year in the US, and it is expected that 12.1 million people in the US will have atrial fibrillation in 2030. Therefore, the rising prevalence of atrial fibrillation is expected to propel the growth of the left atrial appendage (LAA) closure device market.

Major companies operating in the left atrial appendage closure device market are developing innovative products such as Watchman FLX to advance the treatment of non-valvular atrial fibrillation (NVAF) and help patients with an alternative to oral anticoagulation therapy. The Watchman FLX pro device is a self-expandable device implanted in the LAA to block the opening and prevent blood clots from forming. For instance, in September 2022, Boston Scientific Corporation, a US-based manufacturing company, received approval for Watchman FLX from the Food and Drug Administration, a US-based federal agency, to lower the chance of stroke in those with non-valvular atrial fibrillation (NVAF). It is designed to be more flexible and accessible to implant than previous versions of the Watchman device, making it a more viable option for a broader range of patients. Moreover, it is a safe and effective way to reduce the risk of stroke in people with NVAF, and it is a valuable option for patients who are not eligible for oral anticoagulation therapy or who have difficulty managing their oral anticoagulation therapy.

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Major Key Players of the Market:
Johnson And Johnson Pvt Ltd., Abbott Laboratories , Medtronic plc., Atrium Medical Corporation, Boston Scientific Corporation, Gore Medical Inc., Lepu Medical Technology Co. Ltd., MicroPort Scientific Corporation, AtriCure Inc., Dune Medical Devices Ltd., Lifetech Scientific Corporation, Sahajanand Medical Technologies Limited , Occlutech, Cardiva Medical Inc., Sentreheart Inc., Aegis Medical Group, Cohere*x Medical Inc., EndoStim Inc., Conformal Medical Inc., Cardia Inc., Medical Device Business Service Inc., Protaryx Medical, Append Medical Ltd, Vascular Innovations Co. Ltd., Vivasure Medical Inc., Atritech Inc., CardiaMed AB, Cardialen Inc., Kalila Medical Inc.

Left Atrial Appendage Closure Device Market 2024 Key Insights:
• The left atrial appendage closure device market is expected to grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%.
• Elevated Prevalence Of Atrial Fibrillation Fuels Growth In The Left Atrial Appendage (LAA) Closure Device Market
• Breakthrough Innovation In Left Atrial Appendage Closure Devices
• North America was the largest region in the left atrial appendage closure devices market in 2023

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