Left Atrial Appendage Devices Market Size

Left Atrial Appendage Devices Market Analysis

The global left atrial appendage devices market is expected to register a CAGR of 20.1% during the forecast period.

• The COVID-19 outbreak had an unprecedented impact on the growth of the market. This outbreak resulted in the postponement and cancellation of various cardiac surgeries, affecting the demand for left atrial appendage devices. For instance, a research article published by Europe PMC in July 2021 reported a 73% decrease in cardiac procedures performed in India between April and August 2020. Such reduction in cardiac procedures had a slight negative impact on the market's growth. However, with the relaxation of the lockdown, these postponed surgeries were carried out.
• Additionally, COVID -19 has also impacted people's cardiac health, increasing the demand for left atrial appendage devices. Thus, owing to these factors, the studied market is expected to continue its growth over the coming five years.
• The key contributors to the market growth are the increasing geriatric population and associated cardiovascular diseases. Also, the rise in atrial fibrillation among the global population is expected to contribute to the market's growth.
• For example, according to the National Center for Biotechnology Information (NCBI), in February 2021, the worldwide prevalence of atrial fibrillation was 37,574 million cases (0.51% of the world's population), which also increased by 33% during the last 20 years. Such an increase in atrial fibrillation conditions among the global population is expected to drive the growth of the studied market during the forecast period.
• Moreover, people aged 65 years and above are at a higher threat of causing cardiovascular diseases such as atrial fibrillation, which might further lead to heart stroke. According to the UN Department of Economic and Social Affairs (UDESA) report, 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Thus, the increase in the global geriatric population prone to cardiovascular diseases is expected to drive the market's growth during the forecast period.
• Furthermore, increasing product developments are expected to contribute to the growth of the studied market. For instance, in June 2022, Conformal Medical Inc. announced the enrolment of the first participants in the CONFORM pivotal trial of its CLAAS System. The first patients were enrolled at two sites in the US. The CLAAS System has been designed to seal the left atrial appendage (LAA) in non-valvular atrial fibrillation (Afib) patients to reduce stroke risk without using anticoagulants. Conformal Medical noted that the findings from the investigational device exemption (IDE) study will help the company seek pre-market approval for the device from the US Food and Drug Administration (FDA ).
• Therefore, the increasing prevalence of atrial fibrillation and innovative product developments are expected to contribute to the market's growth. However, the high cost of devices may restrain the growth of the market during the forecast period.