LAA Closure Device Market – An Overview
The global left artrial appendage (LAA) closure devices market is expected to witness strong growth during the forecast period between 2021 and 2031. LAA closure devices have proven beneficial in decreasing the possibility of blood clots and thereby, reducing the chances of stroke. LAA closure devices are usually planted in the left atrial appendage area in patients in a bid to prevent the chances of stroke. LAA closure devices are gaining prominence worldwide since they have been found to offer more safety as compared to other products.
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LAA Closure Device Market – Trends and Opportunities
Rising incidence of atrial fibrillation is the key growth driver of global LAA closure device market. Also, growing patient population suffering from congenital heart disorders is projected to help create revenue-generating opportunities for leading players in overall LAA closure device market, in the coming years. In addition to this, advancements to existing LAA closure devices with integration of new technologies could help augment the growth in overall market, in years to come.
Development in mhealth segment with advent of novel applications which offer products at discounted prices could help market growth as well as play a key role in mhealth emerging as fastest growing market, in future. Other factors such as increasing aging population as well as developing healthcare infrastructure facilities could also contribute to market growth, in the years ahead.
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Hospital end-use segment is expected to emerge as largest revenue contributor to overall market due to increasing number of LAA procedures at hospitals, leading to increased LAA closure devices demand in prominent countries worldwide.
LAA Closure Device Market – Competitive Landscape
Competition in global LAA closure device market is intense due to presence of several prominent players. It is anticipated that these players will continue to hold a large share in overall market, in the coming years. New product launches could help prominent LAA closure device market players in gaining a competitive edge over other players as well as assist in creating revenue-generating opportunities.
Abbott Laboratories, in August 2021, received approval from Food and Drug Administration for Amplatzer Amulet LAA Occuluder. The device has been deployed to treat patients suffering from atrial fibrillation in the U.S. R&D undertakings to produce improved devices could be key, revenue-generating growth strategy for leading LAA closure device market players, in years to come.
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Other strategies such as signing of collaborative agreements with smaller players could help well-established market players in expanding their presence in global market and increasing their revenue. Some of the prominent players in global LAA closure device market include Boston Scientific Corporation, Abbott Laboratories, Occlutech, Biosense Webster, AtriCure Inc., Aegis Medical Group, and Johnson and Johnson.
LAA Closure Device Market – Regional Assessment
The global LAA closure device market is classified into four regions, namely, North America, Asia Pacific, Europe, and rest of the world. North America is anticipated to emerge as maximum revenue-generating region in global LAA closure devices market owing to rising prevalence of atrial fibrillation in countries such as the U.S and Canada.
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Also, presence of several leading players in countries such as the U.S and Canada is anticipated to help market growth in the region. Europe is expected to witness substantial growth in overall LAA closure device market because of increased acceptance of advanced LAA closure devices in countries such as the U.K and Germany.
Asia Pacific is projected to witness moderate growth in overall LAA closure device market due to reduced awareness about the product in developing economies such as India. The rest of the world is expected to witness sluggish growth in global LAA closure device market, in the coming years.
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