Appendage Management Market Overview
Appendage Management Market Report Coverage
- Geographically, North America Appendage Management Market held the largest revenue share of 41% in 2020 owing to the highest disposable income and growing geriatric population in this region.
- Increasing inclination towards R&D activities by the key players in different region of the world are driving the market.
- Moreover, the high morbidity and mortality rates that are related to atrial fibrillation results in increasing embolic events like stroke and is one of the major factors boosting the appendage management market growth.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Appendage Management Market.
Appendage Management Market: Market Share (%) by Region, 2020
Appendage Management Market Segment Analysis – By Product Type:
Based on Product Type, Appendage Management Market is segmented in to Epicardial LAA Closure Devices and Endocardial LAA Closure Devices. The Epicardial Left Atrial Appendage (LAA) closure devices is accounted for the largest revenue market share in 2020 as they are safe and effective in function. Various clinical trials conducted on endocardial devices has shown promising results in stroke reduction in patients. Endocardial LAA closure devices have lower complication rate compared to epicardial devices for atrial fibrillation and is likely to drive the market growth. Epicardial LAA closure devices predicted to grow with the fastest CAGR of 10.5% in the forecast period 2021-2026 owing to its ability to avoid the implanting a permanent device. In addition, these devices do not need anticoagulation post-procedure. Therefore, owing to the advantages of epicardial LAA closure devices, the appendage management market experiences lucrative growth.
Appendage Management Market Segment Analysis – By End User:
Appendage Management Market Segment Analysis – By Geography:
Based on Geography, North America Appendage Management Market accounted for the 41% revenue share in 2020. This is majorly attributed to the rising prevalence of cardiovascular disorders, growing geriatric population, growing government initiatives. It is estimated that in the United States around 2.2 million people are affected from atrial fibrillation. According to the Heart Stroke Foundation of Canada, over 200,000 Canadians are affected from atrial fibrillation. Moreover, the incidence rate of atrial fibrillation in Canada is said to be 4.5% per year according to the Canadian Task Force on Preventive Health. Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026 owing its increase in aging population, increasing health care expenditure coupled with growing awareness among people and developments in LAA closure devices in this region are thereby fuelling the market growth.
Appendage Management Market-Drivers
Rising Prevalence of Atrial Fibrillation:
Appendage Management Market-Challenges
Side Effects Associated with the Process:
Appendage Management Market Segment Landscape:
- In February 2020, Abbott has received U.S FDA approval for ots new trail to assess it Amplatzer Amulet Left Atrial Appendage (LAA) Occluder for the people with atrial fibrillation.
- In August, 2019, ArtiCure has completed its acquisition of SentreHEART, Inc., this acquisition helps ArtiCure to increase its product portfolio and expand their market share.
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