Appendage Management Market Value Will Exhibit a Nominal Uptick in 2020 as Corona Virus Outbreak Prevails as a Global Pandemic, Says FMI in a Revised Report
VALLEY COTTAGE, N.Y. – Providing a detailed assessment of the potential opportunities in atrial fibrillation treatment, Future Market Insights’ recent analysis of the global demand for appendage management showcases a promising future for mechanical appendage closure devices. FMI offers a 10-year assessment, 2018-2028, of the global appendage management market, combined with an analysis of the key market influencers.
“Atrial fibrillation, being one of the most complex condition—increases as the life expectancy increases. Moreover, high mortality and morbidity rates associated with atrial fibrillation, considering the occurrence of embolic events including stroke, is a key major contributing significantly to the appendage management landscape—projected to represent a robust Y-o-Y growth rate of 6.3 percent through 2019, reaching a valuation of approximately US$ 196.2 Million for the same period” predicts a senior healthcare analyst
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Key Insights on Competitive Landscape Analysis of Global Appendage Management Market
As per the FMI analysis, given the high revenue contribution by 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 market showcases a highly consolidated landscape. FMI’s research also indicates that smaller players, contribute approximately 11.5 percent revenue share to the global appendage management market. A much more careful competitive landscape analysis of the global appendage management market reveals a 3-tier segmentation—depending upon the growth stage of various companies.
- With 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 most widely implanted and trusted—boasting FDA approval and CE Mark
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- 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 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. In spite of a miniscule market share, FMI foresees notable potential of their 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.
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Moreover, mergers and acquisitions will remain a key expansion strategy among players in appendage management market. FMI indicates that acquisitions in the global appendage management market would prove beneficial for the key leaders considering the increasing number of promising on-going or successful researches by emerging companies. Already in a dominant position, key players are increasingly focusing in 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 helping in fast recovery and reduced surgical and implantation complications.
- Drawback of oral anticoagulant drugs to push the demand for appendage management procedures.
For a more detailed analysis of the key market influencers, request full report on the appendage management market.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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