VANCOUVER, BRITISH COLUMBIA, CANADA, October 27, 2021 /EINPresswire.com/ — iData Research (“iData”), a global consulting and market research firm, has released exclusive research on the global left atrial appendage (LAA) closure device market, addressing key insights and the consequences of COVID-19 in 2020, 2021, and beyond. The overall market did experience a decline in sales due to the COVID-19 pandemic in 2020. Moreover, iData forecasts that the increase in awareness, benefits, and clinical trials will continue to encourage significant growth by 2027.
According to iData’s Global Report for Left Atrial Appendage (LAA) Closure Devices, the global market was estimated at just over $697 million in 2020. The 2020 market value experienced a significant decrease and was, as a result, 19.4% lower than the 2019 value. Furthermore, the market has continued to increase moving into 2021 and is expected to reach almost $2.2 billion by 2027 at a CAGR of 18.3%. This report includes procedure numbers, unit sales, average selling prices, market drivers and limiters, competitive market share analysis and more.
iData’s global analysis covers over 70 countries and includes in-depth procedure numbers by country. Increasing unit sales will raise general awareness about LAA, the benefits of LAA management and the management options available. The increase in general awareness is expected to power growth in device-based LAA closure procedures, applying an upward push on the value of the global market for LAA closure devices. Until more is done to prove the safety and effectiveness of epicardial closure, endocardial approaches will continue to experience strong growth. With the market being largely represented by Boston Scientific and Abbott, there is very little competition and ASPs are able to increase modestly over the forecast period.
Among the many competitors within these markets, Boston Scientific, Abbott, and AtriCure are the global leaders. The majority of the LAA closure device market is held by Boston Scientific’s WATCHMAN™ device. As the market continues to grow, major competitors will try to enter the market. This is the case with Abbott, which started a U.S. Food and Drug Administration (FDA) investigational device exemption (IDE) trial in 2016 for its Amplatzer™ Amulet™ LAA closure product.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the Global Market Report for Left Atrial Appendage Closure Devices: This report is also available for purchase online at an unbeatable price of $4,995.
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