Appendage Management Market

Appendage Management Market growth snapshot

[178 Pages Report] The global Appendage management Market is estimated to expand from a value of US$ 223.9 Million in 2021, to a value of US$ 352.5 Million by 2028 end, and growing at a CAGR of 6.6% during the forecast period.

Appendage Management industry has witnessed huge demand owing to the increasing prevalence of atrial fibrillation which is considered as one of the most complex condition where there is a need for appendage management. High calorie diet, smoking and no physical activity contribute to the increasing incidence of atrial fibrillation. However, the dependency on drugs for the treatment of atrial fibrillation is observed to be reducing. This change is in response to the side-effects caused by the drugs. Lifestyle changes, rising affluence of atrial fibrillation, improved access to healthcare services and rise in demand for quality healthcare make these markets highly lucrative for medical device companies.

Additionally, advancing technology in appendage management such as left atrial appendage closure devices hold a promising market as a potential treatment for atrial fibrillation and in turn heart stroke.

The heart and the structures that surround it are extremely delicate and crucial. Because of the lower risks and improved precision of MIS equipment and instruments, the demand for minimally invasive surgeries (MIS) is increasing. The left atrial appendage closure device is implanted in a minimally invasive procedure. The stent method involves introducing the device into the body and using the visualization capability to navigate to the target site.

Such technological features enable the gadget to be implanted with great precision, accuracy, and efficiency. The demand for left atrial appendage closure devices in the appendage management market is driven by the treatment of atrial fibrillation using a minimally invasive method.

Various government and medical communities have published data and are spreading awareness about the long-term effects of anticoagulant drugs which further contribute to this trend of patients opting for left atrial appendage closure device.

Epicardia and endocardial producers are highly adopted for severe cases of arrhythmia that propel the appendage management market. Moreover, a report by American Heart Association, Inc. published data that the long term cost of left atrial appendage closure device is less than the money spent on anticoagulant drugs with additional benefits of no side-effects and one-time procedure.

Manufacturers are focusing on emerging markets. Key medical device players are focusing on the developing markets due to huge development potential and to increase their distribution channel. Rising affluence, improved access to healthcare services and rise in demand for quality healthcare, make the microsurgery robot market tempting and compel the players to enter emerging markets.

How The Market Progressed Till June 2022?

Future Market Insights presents a comparative analysis about the market growth rates and development prospects in the global appendage management market. According to FMI analysis, the appendage management market is expected to drop by 14 Basis Point Share (BPS) in H1-2022 (O) compared to H1-2021.

Further comparison between the values for H1-2022 outlook and H1-2022 projected showed a dip of 10 BPS. Key reasons for this dip in BPS is attributed to the risks associated with improper implantation of the medical device.

In Asia-Pacific region, the developing countries have moderately updated healthcare infrastructure when compared to those highly developed regions which will indirectly hamper the growth of appendage management market. Also frequent product recalls will tend to restrict the market growth.

Major risks associated with improper implantation include blood clot formation, bleeding, infection and even allergic reaction to the device and irregular heartbeat as well. These factors will impact the overall market growth.

Despite these negative prospects, there are some plus points that stay ahead for the industry including increased adoption rate of closure devices, increasing reimbursement policies and higher adoption of minimally invasive surgeries in non-traditional markets. The market, thus, is expected to show a reduced compounded growth rate in H1-2022 as compared with H1-2021.

2013-2021 Appendage management Market Demand Outlook Compared to 2022-2028 Forecast

Sales of appendage management market grew at a CAGR of 5.7% between 2013 and 2021.

In 2021, the global market of appendage management accounts for approx. 10.9% of the overall cardiac surgery devices market that accounts around US$ 2060.1 Mn.

Traditional methods of open heart surgery has various complications associated with the procedure. Implantation of left atrial appendage closure device is done by a non-surgical approach or by causing minimum invasion.

Non-surgical approach, usually helps in faster recovery due to minimally invasive nature. The patient is discharged in a day, thus, reducing the hospital days and aiding better patient outcome.

Decreasing surgical and implantation complications subsequently increases the adoption rate of LAA closure devices, which further contributes in driving the expansion of the appendage management market.

Appendage management procedures are a one-time procedures and has a notable success rate. The complications associated with the surgical procedure of appendage management has been significantly reduced post product approvals. The only unsuccessful surgeries are incomplete or not attempted procedures. This goes to show that there are very few, if any complications associated with the surgical procedure. As a result, the growing adoption of closure devices owing to their success rates drives the growth appendage management market.

The global appendage management market is expected to grow at a CAGR of 6.6% through the forecast period 2022-2028.

Sabyasachi Ghosh

Principal Consultant

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What is COVID-19 Impact on appendage management market?

A country-level lockdown impacted the appendage management market negatively. The pandemic resulted in a global decline in medical device demand. The market for appendage management was also hampered by the cancellation or postponement of appointment and delaying of surgery due to lack of healthcare facilities. Further delaying patient from undergoing surgery, by shifting them from surge to anticoagulant oral treatment.

Globally, the surge in COVID-19 infections is now declining, the risk of a next wave is still present. Since heart disease is the leading cause of death, it is necessary to assess the impact of the lockdown and healthcare rearrangement on the performance of cardiology service provision.

Which Factors Are Restraining Demand for Appendage management market?

Frequent Product recalls is expected to hamper the growth of market over the forecast period. Product recalls hampers the company image as well as doubts the reliability of the product. This factor is considered as a restraint for the appendage management market.

In February 2017, AtriCure, Inc.’s Epicardial left atrial appendage closure device, AtriClip was recalled.

Such recalls affect the consumer perception of the product, brand image of the company and doubts the quality of the product casing a restraint in appendage management market.

Moreover, some of the threats encountered during the implantation include damage to structures in the heart, dislodging of the device, incomplete closure of the left atrial appendage, bruising, bleeding, infection, and blood clot formation on device, allergic reaction to the device, irregular heartbeat, stroke or even rarely death. Risks associated with improper implantation of the device is other restring factor for market.

Country-wise Insights

What Makes the U.S. a Large Market for Appendage management market?

The U.S. is estimated to account for around 86.3% of the North America appendage management market in 2022 owing to the increasing adoption of left atrial appendage closure devices in attempt to eliminate the risks of side effects of drugs and favorable reimbursement policies which are luring the manufactures in appendage management market. Health insurance in the U.S. is a reimbursement program by Medicare and Medicaid insurance or a social welfare program funded by the government.

Moreover, focus on new technology development with advancements in medical device industry exhibiting innovative product design with enhanced patient safety is expected to create a huge platform for innovative technologies in U.S.

Why is Germany Considered a Lucrative in Measurement technology in downstream process market?

Germany is estimated to account for 20.7% of market revenue share in Europe in 2022. Rising geriatric population who are on risk due to high cholesterol, high blood pressure, obesity, physical inactivity are some of the major factors boosting the demand for appendage management market in Germany.

The risk associated with stroke by atrial fibrillation increases by age. The growing geriatric population is considered an important factor driving the appendage management market.

For instance, According to the World Health Aging 2020 highlights by the United Nations Department of Economic and Social Affairs, in 2020, population aged 65 years and above for Germany was 21.7 %. Population ages 65 and above as a percentage of the total population.

As per reported data in 2019 by European Society of Cardiology in Germany, Age group of 75-84 years show a non-valvular atrial fibrillation (NVAF) incidence of 18.6 per 1,000 person-years. The prevalence of NVAF was found to be between 10% and 17% of those aged 80 years or older.

What are the Factors Fueling the Demand for Appendage management market in U.K?

U.K having huge growth due to technological advances and high healthcare expenditure is expected a growth rate of CAGR 5.3% by 2028.

Additionally, rapid technological advancement, following rise in diseases and the increase in disposable income can boost the demand for appendage management.

Presence of various manufacturers and awareness about cardiovascular disease is predicted to drive the expansion of Europe appendage management market and drive the focus of the manufacturers in these markets.

How will the Appendage management market growth Across Japan?

Demand for appendage management market in Japan has been rising recently, thereby, estimated to contribute nearly 27.2% of market revenue share in the APAC region in 2022.

Developing healthcare infrastructure with improved services and affordability is expected to drive the growth of the market for appendage management in Japan.

Japan appendage management market is lucrative due to rising adoption of LAA closure devices. Key players are determined to establish their company footprints in these emerging markets by increasing distribution channels and partnering with the regional players and distributors. This is expected to drive the demand for appendage management in the Japan.

Category-wise Insights

Demand for Endocardial LAA Closure Device to continue gaining Traction by product type?

Endocardial LAA closure device is expected to account for the highest share of nearly 66.2% in 2022 due to advanced technology with ease of implantation and high specificity, thus, driving the market.

Endocardial LAA closure devices has been widely used and has a good success rate. However, patient are adopting this devices due to it effective product feature. In spite of new innovative products for LAA closure, endocardial LAA closure devices are expected to continue to gain maximum market revenue share over the forecasted years.

Which End User will hold the most of the market share?

By end user, Cath Labs lead the market with market value share of 74.7% in 2022 owing to high walk-in patient in Cath lab for catheterization procedures. More skilled healthcare professionals and technologically advanced services are easily available in Cath lab.

Additionally, appendage management and implantation can be easily performed in Cath lab. Thus this segment is expected to witness significant growth in recent years.

Competitive Landscape

The appendage management market is an extremely consolidated market, with major competitors such as Boston Scientific Corporation, AtriCure, Inc., Abbott Laboratories, Cardia, Inc., Medtronic plc, DePuy Synthes (Johnson & Johnson Services, Inc.), SentreHEART, Inc., Lifetech Scientific Co., Ltd, Occlutech International AB, Johnson & Johnson. Company operating in every region of the globe. To attract more customers, major players are focusing on mergers and acquisition and launching novel products in order to boost their market position and expand their product portfolios.

• In April 2021, AtriCure, Inc. got U.S. Food and Drug Administration (FDA) approval of the EPi-Sense® System to treat patients diagnosed with long-standing persistent Afib.
• In Jun 2021, Abbott received European and Canadian approval for amplatzer™ steerable delivery sheath to optimize left atrial appendage closure procedures for people at risk of stroke.

Scope of the Report

Appendage management market by Category

By Product Type

• Epicardial LAA Closure Devices
• Endocardial LAA Closure Device

By End User

• Hospitals
• Cath Labs

By Region

• North America
• Latin America
• Europe
• APAC
• Middle East & Africa (MEA)