The market for appendage management is anticipated to develop from a value of US$ 223.9 million in 2021 to US$ 352.5 million by the end of 2028, at a CAGR of 6.6%. 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.
“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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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.
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)
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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.
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