The abrupt rise of COVID-19 pandemic has made a positive impact on the growth of the global left atrial appendage closure devices market in 2020. The increasing elderly population and rising cases of atrial fibrillation (AF) are fueling the demand for left atrial appendage closure devices during the COVID-19 crisis. Increasing product developments and technological advances by top market players are projected to unlock rewarding opportunities for the growth of the global market throughout the pandemic period.
The latest research report on the global left atrial appendage closure devices market by Research Dive divulges the impact of the COVID-19 pandemic on the current and forthcoming growth of the market. This report is a comprehensive research articulated by experts by studying top driving factors, regional market situations, latest trends and initiatives, and size & scope of the market in the course of the pandemic period.
Highlights of the Report
The sudden outburst of the COVID-19 pandemic has imposed a positive impact on the global left atrial appendage closure devices market. As per the report, the global left atrial appendage closure devices market had gathered a revenue of $466.6 million in 2019 and is expected to surpass $2,637.1 million by 2027, increasing at a CAGR of 24.0% from 2020 to 2027. The size of the market in the present situation has reached $585.2 million due to a rise in the cases of atrial fibrillation (AF) all over the world.
Factors Impacting the Market Growth during COVID-19 Pandemic
The global left atrial appendage closure devices market is anticipated to observe noteworthy growth owing to the global increase in the cases of atrial fibrillation and growth in the geriatric population. Additionally, growing number of patients suffering from heart and stroke disorders, who are highly vulnerable to atrial fibrillation, are expected to fuel the demand for left atrial appendage closure devices; thus leading to an increased growth of the market.
Current Face of the Market Due to COVID-19
In the course of the pandemic period, some of the foremost players in the left atrial appendage closure devices sector are implementing numerous strategies such as partnerships, collaborations, and novel product developments to grab a major position in the market. For example, in July 2020, the U.S. FDA (Food and Drug Administration) has given approval for the advanced Watchman FLX Left Atrial Appendage Closure device developed by Boston Scientific Corporation. This device is developed to minimize the possibility of stroke in NVAF (non-valvular atrial fibrillation) patients, who need a substitute for oral anticoagulation treatment by permanently sealing the left atrial appendage, the part of the heart in which stroke-causing blood clots are formed in NVAF patients.
Future Scope of the Market:
As per the report, the global left atrial appendage closure devices market is expected to undergo continuous growth post-coronavirus pandemic. New players and some of the major players including Cardia, Inc., Boston Scientific Corporation, Aegis Medical Group., AtriCure, Inc., SentreHEART, Inc., Abbott., Occlutech, Lifetech Scientific, Biosense Webster, Inc., Johnson & Johnson Services, Inc., and others are anticipated to shape the future of the global left atrial appendage closure devices industry in the next few years. The report summarizes various aspects of the prominent players functioning in the market such as financial performance, recent strategic moves & developments, product portfolio, and SWOT analysis.
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