Appendage Management Market

Appendage Management Market: Manufacturers Focussing on Launching Easily Implantable Life-saving Products: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

50% Revenue Contribution by the Leading Manufacturers

The appendage management market is mainly dominated by the key players and they are competing on the basis of minimally closure approaches, epicardial and endocardial site of the device implantation along with additional favorable features in the market. The dominating companies, for instance, Boston Scientific Corporation and AtriCure, Inc., hold above 50% share in the terms of revenue in the global appendage management market.

Both the companies are constantly making efforts to launch innovative products for appendage management and have published numerous results from clinical trials to support the sale of the devices. Additionally, Boston Scientific Corporation and AtriCure, Inc. operating in the appendage management market are focusing on collaborations and partnerships with local distributors to increase their supply chain and penetration of their products in the appendage management market.

Some of the devices are yet to receive approval to permit sale and use of the device in some countries and this restricts the influence of other companies in the appendage management market. However, growing number of clinical trials and launch of new innovative products along with generation of huge product portfolio for appendage management have increased the opportunities for the global manufacturers.

Reduced Risk of Stroke and Atrial Fibrillation upon Use of Left Atrial Appendage Closure Device

The prevalence of atrial fibrillation is observed to be constantly increasing and is further expected to grow with greater speed. The risk of stroke in individual with atrial fibrillation is multiplied and this creates a threat. The necessity of treatment options for appendage management and to cure atrial fibrillation is thus very high.

Traditionally, oral anticoagulants drugs and blood thinners are used to inhibit blood clot formation in the left atrial appendage, however, with the advancements in medical science and technology, LAA closure devices can be considered potential appendage management alternative to treat atrial fibrillation. Epicardial and Endocardial LAA closure devices are ruled safe and efficient from the clinical trials and approved for sale and implantation.

Minimally Invasive Nature & Non-surgical Approach of Procedure Reduces Complications

The heart and the structures related to it are very delicate and vital. The demand for minimally invasive surgeries is growing due to reduced complications and greater precision. The implantation of the left atrial appendage closure device is a minimally invasive procedure. Stent procedure includes insertion of the device in the body and navigating to the desired location through visualization feature.

Such technological aspects enable great precision, accuracy and efficient implantation of the device. Treatment of atrial fibrillation through minimally invasive approach propels the demand for left atrial appendage closure devices in the appendage management market.

Alternate to Anticoagulant Drugs and Low Risk of Side Effects

Anticoagulant drugs are traditionally used in appendage management to inhibit blood clot formation in the left atrial appendage which leads to stroke. Anticoagulant drugs need regular check-ups to ensure the right action of the drugs in the required amount. This requires constant clinic or hospital visits. Moreover, these drugs hold a long list of side-effects which may be fatal. Governments are taking various initiatives to spread awareness about the adverse effects of taking anticoagulant drugs. 

In this scenario, left atrial appendage closure devices steal the spotlight. Left atrial appendage closure devices are safe with no side-effects. Additionally, it is one time procedure and the long-term cost of implantation of left atrial appendage closure device is calculated to be less than that of anticoagulant drugs. This becomes an important factor to drive the growth of left atrial appendage closure devices in the appendage management market.

Growing Geriatric Population Propels the Demand for Appendage Management

Atrial fibrillation is significantly prevalent in the elder population, aged 65 and above. Around 70% of people suffering from atrial fibrillation are 65–85 years of age. Therefore, growing geriatric population is considered an important factor driving the growth of the appendage management market.

Atrial fibrillation is estimated to rise the incidence rate exponentially in the future. With the increasing product approvals in the appendage management market, more and more people are expected to implant the left atrial appendage closure devices to eliminate or reduce the risk of stroke.

Competitive Landscape

This section of the report features profiles of key players operating in the appendage management market based on their market shares, differential strategies, product offerings, marketing approach and company dashboard. Some of the key players featured in this report include Abbott Laboratories, AtriCure, Inc., Boston Scientific Corporation, Cardia, Inc., Johnson & Johnson Services, Inc., LifeTech Scientific Co., Ltd, Medtronic plc., SentreHEART, Inc., Occlutech International AB.

Boston Scientific Corporation offers the most trusted product for appendage management, named WATCHMAN device. WATCHMAN device is an endocardial left atrial appendage closure device for occlusion of left atrial appendage. Boston Scientific is launching next-generation WATCHMAN devices with improved and additional features to continue domination in appendage management market.

The key manufacturers of appendage management are focusing on acquisitions and mergers to extend their product portfolio. Launching of new and innovative products is also a strategy followed by the players that is working in their favor.

The companies are conducting conferences and training sessions in hospitals and institutes to enlighten surgeons and practitioners with the improved technology and novel product left atrial appendage closure devices in the appendage management market.

Definition

Left atrial appendage closure devices perform the function of ceasing the blood flow to the left atrial appendage, which is like a chamber giving rise to a condition called as atrial fibrillation. In atrial fibrillation, the normal pumping rhythm of the heart is disturbed and blood clots are formed at the left atrial appendage which may be later circulated to vital organs and may lead to stroke. The report focuses on the products and devices used to close and manage the left atrial appendage and eliminate the risks associated with it.

About the Report

FMI conducted a research study on the appendage management market for the forecast period 2018 to 2022. The appendage management market report offers a comprehensive evaluation of the business opportunities prevailing in the appendage management market along with insights on the appendage management trend, disease incidences, and awareness level for appendage management and appendage management market competition. The report elaborates the macroeconomic factors influencing the dynamics of the appendage management market and its futuristic potential.

Additional Questions Answered

Some of the additional questions addressed in this report on appendage management market-

  • What is the revenue potential of epicardial and endocardial left atrial appendage closure device in appendage management market across regions of North America and Europe?
  • Who are the key competitors and what are their portfolios in appendage management market?
  • What are major challenges influencing the growth of appendage management market?
  • How intervention from regulatory authority is shaping the appendage management market growth?

 

Research Methodology

The appendage management market has been estimated based on supply-demand approach. The market was first calculated based on implantation of LAA closure devices volume conducted in different region/countries. The test volume was estimated based on the incidence rate of atrial fibrillation in top 20 countries globally.

Other qualitative factors analyzed during test volume estimation include awareness level for appendage management, incidence rate of atrial fibrillation and others. This information is further validated with rigorous primary research (including interviews, surveys, in-person interactions, and viewpoints of seasoned analysts) and secondary research (including verified paid sources, authentic trade journals, and resourceful databases).

The research study on appendage management market also includes top trends and macro as well as micro economic factors shaping the appendage management market. With this approach, the report on appendage management market anticipates the industry attractiveness of every major segment in appendage management over the forecast period.

Segmentation

The report offers a comprehensive taxonomy of the appendage management market based on product type, end user and region. The appendage management market is categorized into two types of products that are epicardial LAA closure devices and endocardial LAA closure devices. These mechanical closure devices in appendage management are used by catheterization and hospitals for appendage management.

Thus, the end-use segments in appendage management market which are a part of this appendage management market report include catheterization laboratories and hospitals. The appendage management market has been analyzed across regions of North America, Latin America, Europe, Asia Pacific (APAC), and MEA.

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Appendage Management Market