The atrial appendage occluder market size is projected to be valued at USD 983.5 million in 2023 and is expected to rise to USD 8193.0 million by 2033. The sales of atrial appendage occluders are projected to expand at a significant CAGR of 23.6% during the forecast period.
The atrial appendage, better described as the left atrial appendage (LAA) is an ear-shaped pouch present in the top left chamber of the human heart (Left Atrium).
The functional significance of this structure is unknown. In patients living with arrhythmic cardiovascular conditions such as atrial fibrillation, blood accumulates in the left atrial appendage and can cause clotting of blood.
The blood clots can cause fatal strokes when pumped into the blood vessels. Along with oral anticoagulants, occlusion of LAA by an occluder is an alternative approach to protect cardiovascular patients from strokes and other complications. An atrial appendage occluder is thus a kind of plug that permanently closes the appendage.
According to a study published in the journal, Clinical Medical Insights, Cardiology, atrial fibrillation affects around 2 percent of the global population and the prevalence of the disease is expected to increase five times over the next four decades, especially in the United States, owing to the expanding elderly population base.
| Attributes | Details |
|---|---|
| Atrial Appendage Occluder Market Estimated Size (2023) | USD 983.5 million |
| Atrial Appendage Occluder Market CAGR (2023 to 2033) | 23.6% |
| Atrial Appendage Occluder Market Forecasted Size (2033) | USD 8193.0 million |
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The global demand for atrial appendage occluders is projected to rise at a CAGR of 23.6% during the forecast period between 2023 and 2033, reaching a total of USD 8193.0 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 8.5%.
The increasing number of cardiovascular patients suffering from atrial fibrillation and thromboembolism is the primary factor contributing to market growth. Further, people's changing lifestyles, as well as the growing number of people suffering from obesity, diabetes, and hypertension, are increasing demand for the devices, contributing to market growth.
In the upcoming years, atrial appendage occluder market systems are expected to gain prominence as many new construction sites are already installing the same as a necessity. With the construction industry developing significantly in emerging regions, the demand for the Atrial appendage occluder market is expected to rise.
Certain factors, such as the limited use of the LAA occluder for patients who have a high risk of bleeding as well as stroke while on anticoagulant therapy, are limiting the market's growth. A few more factors limiting market growth include unfavorable policies and complications associated with surgery.
Growing Number of Cardiovascular Patients to Push Sales
The surging number of cardiovascular patients diagnosed with thromboembolism and atrial fibrillation worldwide is a key driver to the growth of the global atrial appendage occluder market. In addition, sedentary lifestyles and ailments like diabetes, obesity, and hypertension are also going to drive demand for such devices, paving the way for market expansion.
The global atrial appendage occluder market is extremely concentrated, with only a few players. Annually, roughly 15 million strokes occur worldwide, according to the World Health Organization (WHO). In 2010, the United States spent around USD 53.9 billion on health care services, and drugs, and lost work days due to a heart stroke.
Ischemic strokes account for almost 87% of all strokes, which occur when blood circulation to the brain is compromised. Stroke is third among the main causes of mortality, and it is also the leading cause of long-term disability. Around 20% of ischemic strokes are caused by atrial fibrillation. All of these factors are catalyzing the growth of the atrial occluder market.
Restricted Use of LAA Occluder to Stifle the Market Growth
The restricted use of LAA occluder solely for those at high risk of stroke and bleeding while on anticoagulant medication may limit market expansion. Furthermore, difficulties associated with device implantation and removal, such as tissue erosion, which might necessitate open heart surgery, may function as a limiting factor for market expansion. Also, unfavorable policies concerning endocardial LAA closure are likely to hamper market expansion.
The Endocardial Segment is to have the Highest Demand
The endocardial segment is anticipated to have a high market share of 87.20% because they are both safe and effective. Further, several clinical studies on endocardial devices have yielded encouraging results for the patient population in terms of stroke risk reduction, contributing to the segment's market share.
The endocardial segment is likely to have a low complication rate (around 8.5%) than the Epicardial (25.4%), which is believed to drive segment growth. In addition, Epicardial has emerged as an alternative procedure for LAA closures to improve efficacy, especially in patients who have had poor results with the standard endocardial technique.
The Epicardial segment is forecasted to account for 15% of the global atrial appendage occluder market share during the forecast period.
Hospital Segment to be the Dominant Segment Acquiring 63.20% Value Share
The hospital segment of the atrial appendage occluder market is anticipated to expand notably. The growing number of hospitals and the advancement of infrastructure are expected to drive demand for the devices.
According to the Centres for Medicare and Medicaid Services, the United States spent almost 3.6 trillion USD on healthcare management in 2018. This is expected to boost the market for atrial appendage occluder. Furthermore, the rising prevalence of atrial fibrillation is expected to play a significant role in this segment. Atrial fibrillation is one of the most common heart conditions, according to the European Society of Cardiology.
The prevalence of atrial fibrillation in people aged 65 and older was around 7.6 million in 2016, and it is expected to rise by 89%, to around 14 million by 2060. Hence, the aforementioned factors are expected to increase hospital visits for atrial appendage management, increasing demand for atrial appendage occluder in this segment.
As per FMI, North America is anticipated to dominate the atrial appendage occluders market during the forecast period. This is because of its vast geriatric population.
Moreover, the region's huge population, which accounts for the high number of stroke deaths, is the primary cause for individuals depending on atrial appendage occluders, particularly in the United States. Thus, in 2022, North America held a market share of 39.8% for atrial appendage occluder.
Europe’s Sedentary Lifestyles Favoring Market Growth
According to a report published in the journal Indian Pacing and Electrophysiology Journal, Europe’s Atrial appendage occluder market is likely to rise since more than 6 million people in Europe are already living with arrhythmia, and the number is expected to double over the next 50 years. According to one study, the European race has a great incidence of atrial fibrillation than other races.
Sedentary lifestyles and the number of persons with cardiovascular problems are predicted to rise in developed nations, driving market development in the future. This, in turn, is projected to serve the atrial appendage occluder market development. As a result of the aforementioned factors, Europe held a market share of 27.3% in the atrial occluder market in 2022.
Key players in the atrial appendage occluder market include Appriva Medical Inc., Boston Scientific, Abbott, SentreHEART Inc, and pfm Medical Ag. Occlutech, W. L. Gore & Associates, Coherex Medical, Inc., Cardia, Inc., and AtriCure, Inc. amongst others.
Key players focus on strategic formulations such as research collaborations, new product releases, market penetration, and distribution alliances for developing a commercial presence. Furthermore, these industry leaders are substantially spending on research activities, which encourage innovation and help them to commercialize improved products and maximize market income.
Recent Developments in the Atrial Appendage Occluder Market
In August 2022, Abbott and WW International, Inc. established a strategic alliance to assist people with diabetes to better understand and manage their diabetes and weight. The companies are collaborating to integrate WeightWatchers' diabetes-specific weight management program with Abbott's portfolio of FreeStyle Libre® products to create a seamless mobile experience that is going to provide people living with diabetes with information and insights.
Diabetic people can make healthy dietary adjustments, improve their glucose levels, and, ultimately, gain more control of their health through the information and insights provided.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 23.6% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and Volume in Units and F-CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Type of Indication, Positioning of Device, End User, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Appriva Medical Inc.; Boston Scientific; Abbott; SentreHEART Inc; pfm medical ag.; Occlutech; W. L. Gore & Associates; Coherex Medical, Inc.; Cardia, Inc.; AtriCure, Inc. |
| Customization & Pricing | Available upon Request |
The global atrial appendage occluder market is estimated to be valued at USD 983.5 million in 2023.
The atrial appendage occluder market is likely to thrive at a CAGR of 23.6% from 2023 to 2033.
The atrial appendage occluder market is projected to reach a valuation of USD 8193.0 million by 2033.
North America is projected to lead the global atrial appendage occluder market by 2033.
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Atrial Appendage Occluder Market
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