Say goodbye to traditional stitches! The Appendage Management Market is experiencing a boom, with a projected market value of USD 352.5 million by 2028. This significant growth builds on a solid foundation of USD 223.9 million in 2021, reflecting a steady CAGR (Compound Annual Growth Rate) of 6.6%, according to a recent analysis by Future Market Insights (FMI).
A primary catalyst behind this upward trajectory is the escalating prevalence of atrial fibrillation, identified as one of the most intricate cardiovascular conditions. As life expectancy increases, the incidence of atrial fibrillation follows suit, presenting a complex challenge to healthcare systems worldwide.
According to a senior healthcare analyst at Future Market Insights, “The high mortality and morbidity rates associated with atrial fibrillation, coupled with the occurrence of embolic events such as strokes, significantly contribute to the appendage management landscape. We project a substantial year-on-year growth rate of 6.3% through 2019, with an estimated valuation of approximately US$ 196.2 Million for the same period.”
Request a Sample of this Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-7752
Key Insights on Competitive Landscape Analysis of Appendage Management Market
As per the FMI analysis, given the high revenue contribution by the top five players—including Boston Scientific Corporation, AtriCure, Inc., Abbott Laboratories, Cardia, Inc., and Medtronic plc—holding an accumulative revenue share of nearly 89 percent, the Global Appendage Management Industry showcases a highly consolidated landscape. FMI’s research also indicates that smaller players contribute approximately 11.5 percent of revenue share to the Global Appendage Management Industry. A much more careful competitive landscape analysis of the Global Appendage Management Industry reveals a 3-tier segmentation—depending upon the growth stage of various companies.
- With a reach wide enough in North America, Boston Scientific Corporation and AtriCure, Inc. are the clear market leaders—for endocardial and epicardial left atrial closure devices, respectively. With an accumulative share of approximately 57 percent in the appendage management market, Boston Scientific Corporation’s WATCHMAN and AtriCure, Inc.’s products are in direct competition. However, WATCHMAN is the most widely implanted and trusted—boasting FDA approval and CE Mark
- Mid-stage growth companies including Abbott Laboratories and Cardia, Inc have pulled away from the top two players, in the last few years—holding approximately 32 percent market share. These companies, however, have an expansive range of product offerings. Holding nearly 14 percent in terms of revenue, Abbott Laboratories is upping its portfolio of upper and lower extremities along with the popularization of the product with good clinical trial results.
- The emerging players, including SentreHEART, Inc., LifeTech Scientific Co., Ltd, Occlutech International AB, and Johnson & Johnson Services, Inc. are more focused on product innovation and differentiation within certain treatment niches, to build a strong market position in the consolidated appendage management landscape. Despite a miniscule market share, FMI foresees notable potential for its research and development initiatives in the long run.
In terms of overall forward market strategies, key companies are projected to focus on innovating easily implantable, life-saving products for patients suffering from atrial fibrillation, thereby, eliminating the side-effects caused by drugs taken to treat atrial fibrillation. Innovative devices and better navigation and visualization technologies are expected to bring significant opportunities—translating into increased adoption of Left Atrial Appendage (LAA) closure devices by catheterization laboratories and hospitals.
Moreover, mergers and acquisitions will remain a key expansion strategy among players in the appendage management market. FMI indicates that acquisitions in the Global Appendage Management Industry would prove beneficial for the key leaders considering the increasing number of promising ongoing or successful researches by emerging companies. Already in a dominant position, key players are increasingly focusing on strengthening the supply chain and distribution networks through strategic partnerships to maximize their market share.
Bonus: Key Market Influencers
- Notable success rate of appendage management procedures.
- Non-surgical, minimal invasion approach helps in fast recovery and reduces surgical and implantation complications.
- Drawback of oral anticoagulant drugs to push the demand for appendage management procedures.
Appendage Management Market by Category By Product Type
- Epicardial LAA Closure Devices
- Endocardial LAA Closure Device
By End User
- Hospitals
- Cath Labs
Click Here To Purchase Your Detailed Report
https://www.futuremarketinsights.com/checkout/7752
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
