PUNE, India | 21st August 2020: According to a report published by Research Dive, the rising number of patients suffering from atrial fibrillation (AF) and the growing geriatric population are the major factors expected to propel the Growth of the Global Left Atrial Appendage Closure Devices Market. In addition, the rising cases of COVID-19 is resulting in increasing demand for left atrial appendage closure devices as the coronavirus directly affects the respiratory system of the human body and ultimately the heart. This is helping the market to witness a progressive growth in the pandemic crisis. Conversely, the availability of alternative technology and the high costs associated with the LAA closure devices is likely to hamper the market growth in the near future. Furthermore, the report includes detailed analysis on drivers, restraints, challenges, major segments, growth opportunities, and strategic growth by market players to better apprehend the effect of COVID-19 pandemic on the global market.
COVID-19 Impact on Left Atrial Appendage Closure Devices Market Report Highlights:
- The CAGR of the left atrial appendage closure devices market as estimated before the outbreak of COVID-19 pandemic was 23.1% over the forecast period.
- The CAGR of the global industry, as projected post the onset of COVID-19 crisis, is expected to grow at 24% during the forecast period.
- The market size of the left atrial appendage closure devices industry in 2020, as estimated before the COVID-19 pandemic began was $572.9 million.
- The real-time market size in 2020, bearing the after-effects of the COVID-19 pandemic is $585.2 million
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Current Market Transformation During COVID-19 Crisis
The left atrial appendage closure devices industry is likely to experience a surge in the growth rate during the coronavirus pandemic. The governments of various countries are taking initiatives to create awareness amongst people regarding the importance of left atrial appendage closure devices during the pandemic, which is the major factor expected to boost the market growth in 2020. Besides, a number of manufacturers are stressing their activities on product improvements to obtain a strong position and sustain in the global market in coronavirus emergency. For instance, in February 2020, Abbott received the U.S. Food and Drug Administration (FDA) approval for its newly innovated ‘Amplatzer Amulet Left Atrial Appendage Occluder,’ which is designed for the AF affected patient. This is expected to create lucrative opportunities in the market in the trying times.
Post-Pandemic Market Landscape
As per the report, the global left atrial appendage closure devices market is anticipated to witness a tremendous growth even after the COVID-19 pandemic. The continuous advancements in technology, government support for medical device approvals, rise in number of ambulatory clinical centers globally, and developments by prominent market players are the major factors expected to bolster the market growth.
The key players operating in the global industry include:
- Boston Scientific Corporation
- SentreHEART, Inc.
- AtriCure, Inc.
- Lifetech Scientific
- Aegis Medical Group.
- Cardia, Inc.
- Johnson & Johnson Services, Inc.
- Biosense Webster, Inc.
The report also summarizes other important aspects of the key players including Financial Performance, Product Portfolio, SWOT analysis, and Recent Strategic moves and developments. Inquire before Purchase report, Get Sample Report [75 pages]
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