Major players are focusing on clinical trials, new product launches and creation of huge product portfolio for appendage management.
The global appendage management market is slated to record a robust CAGR during the forecast period, 2019-2029. The market expansion can be primarily ascribed to high morbidity and mortality rates related with atrial fibrillation, considering the incidence of embolic events such as stroke. The requirement of treatment alternatives for appendage management as well as to cure atrial fibrillation is therefore very high.
“Market players are conducting training sessions and conferences in institutes and hospitals to educate practitioners and surgeons with the novel product and enhanced technology left atrial appendage closure devices in the global market.” says an FMI analyst.
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Appendage Management Market – Key Highlights
- North America to remain the frontrunner among other regions as a result of the regions high and advanced healthcare facilities.
- Hospitals segment is anticipated to drive the demand for appendage management market.
- The epicardial LAA closure devices is projected to reflect high growth pace owing to its ability to refute the requirement of instilling a permanent device.
Appendage Management Market – Drivers
- Rising government initiatives to increase public awareness regarding cardiovascular ailments has further amplified growth in this market.
- Increasing occurrence of atrial fibrillation amid the geriatric populace, and augmented technological progressions has boosted growth in the market.
- Decreased risk of atrial fibrillation and stroke upon usage of left atrial appendage closure device to complement market expansion.
Appendage Management Market – Restraints
- Stringent government regulations and rules related to the devices approval might hamper the market growth.
- Use of drugs such as anticoagulant drugs induces side effects that can be lethal, this hindering the growth of the market.
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COVID-19 Impact on the Market
The growing cases of COVID-19 is ensuing in growing demand for appendage management to ween patients off of anticoagulation as well as remove the requirement for steady clinic or hospital calls for INR testing utilized to keep up the drug at therapeutic levels. This is assisting the market to foresee a progressive expansion in the crisis.
Competitive Landscape
Major companies identified in the global appendage management market are AtriCure, Inc., Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson Services, Inc., LifeTech Scientific Co., Ltd, Cardia, Inc., Medtronic plc., Occlutech International AB and SentreHEART, Inc. The key players of appendage management are centering on acquisitions & mergers to expand their product portfolio. Launch of innovative and new products is additionally a strategy trailed by the players which is working in their favor.
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About the Study
The study offers readers a comprehensive assessment of the appendage management market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of Product (epicardial LAA closure devices and endocardial LAA closure devices), end-use (catheterization laboratories and hospitals), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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