The Global Atrial Fibrillation Devices Industry is poised for an unprecedented rise, with estimations projecting a remarkable increase from US$3.2 billion in 2021 to an anticipated worth of US$17.9 billion by 2032. The industry’s flagship, the ablation catheter segment, commands a substantial market share, surpassing 59% and showcasing its dominance in the global landscape.
Atrial fibrillation, characterized by erratic and rapid heartbeats triggered by the heart’s atria’s rapid electrical discharges, poses significant health risks. The resulting fibrillation restricts blood flow from the atria to the ventricles, elevating the threat of clots, strokes, and heart failure.
The ablation catheter segment, integral to addressing this cardiovascular challenge, is expected to witness a compelling growth trajectory, anticipating an 18.3% Compound Annual Growth Rate (CAGR) during the forecast period of 2022–2032. This surge is a testament to the industry’s commitment to advancing cardiac care and enhancing patient outcomes.
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Initiatives taken by various organizations to create awareness and prevention amongst people have significantly increased awareness regarding lifestyle modification and regular habits. For instance, the month of September is precisely donated for this disease, known as the National Atrial Fibrillation Awareness Month.
Traditionally, catheter-based ablation is used to treat patients with atrial fibrillation that have certain limitations in reducing the chance of complications after the procedure. Thus, the new line of treatment options such as the watchman device, FIRM ablation, and maze and thoracoscopic hybrid ablation are invented and well-performed, globally.
The focal impulse and rotor modulation (FIRM) ablation technique is used to more precisely locate the area of arrhythmia. Therefore, the increasing use of atrial fibrillation devices for these procedures will upsurge the growth of the Global Atrial Fibrillation Devices Industry.
However, till now, only a few key players such as Biosense Webster, Inc., Abbott Laboratories, Medtronic Plc, and Boston Scientific Corporation are actively involved in the manufacturing of atrial fibrillation devices, which will create huge opportunities for other small as well as big manufacturers to enter the Global Atrial Fibrillation Devices Industry.
Key Takeaways from Global Atrial Fibrillation Devices Industry Study
- In terms of product type, the ablation catheters segment accounted for the highest share of more than 59% in 2021.
- By end use, the hospital segment dominates the atrial fibrillation devices market with an over 62% value share in 2021, owing to the increasing need for atrial fibrillation devices in critical care units for cardiac procedures.
- North America accounts for the highest share of 46.6% of the Global Atrial Fibrillation Devices Industry in 2021, due to the increased prevalence of atrial fibrillation rate in this region.
“Increasing prevalence of atrial fibrillation and increased awareness among the public about the cardiac arrhythmias will boost the market over the forecast period,” says an analyst of Future Market Insights.
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Global Atrial Fibrillation Devices Industry Competition
Prominent market players in the Global Atrial Fibrillation Devices Industry are focusing on the development, approval, and launch of new devices, to upsurge their product portfolio and expand their regional presence.
Additionally, manufacturers are focusing on forwarding integration to partner with wholesalers, distributors, and other channel partners to gain ownership over the value chain
- In March 2021, Medtronic plc announced the first procedures in the investigational device exemption (IDE) pivotal trial to evaluate the PulseSelect which is a pulsed-field ablation (PFA) system, a novel technology that uses pulsed electric fields to treat atrial fibrillation (AF).
- On November 02, 2020, Abbott bagged the CE mark approval and Australian approval for its EnSite X EP System, a cardiac mapping system indicated for ablation therapy for abnormal heart rhythms.
Global Atrial Fibrillation Devices Industry Key Companies Profiled:
- Biosense Webster, Inc
- Abbott Laboratories
- Medtronic Plc
- Boston Scientific Corporation
- GE Healthcare
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- Japan Lifeline Co. Ltd.
- Stereotaxis, Inc.
- Microport Scientific Corporation
- AtriCure, Inc.
- Biotronik SE & Co. KG
- Acutus Medical Inc.
- Baylis Medical Company, Inc.
- EP Solutions
- Teleflex
- Merit Medical Systems Inc.
- Biometrics
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Global Atrial Fibrillation Devices Industry by Category
By Product:
- Laboratory Devices
- 3D Mapping Systems
- EP Recording Systems
- RF Ablation Systems
- ICE Systems
- Cardiac Stimulators
- Others
- Ablation Catheters
- Cryoablation
- RF Ablation
- Irrigated Tip RF
- Laser
- Diagnostic Catheters
- Conventional
- Advanced
- Ultrasound
- Access Devices
By End-User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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