The global Atrial Fibrillation Devices Market is experiencing a rapid surge, driven by the increasing prevalence of atrial fibrillation (AFib) and advancements in medical technology. According to a recent market analysis, the market, currently valued at USD 3.2 billion in 2021, is projected to reach a staggering USD 17.9 billion by 2032. This translates to a remarkable Compound Annual Growth Rate (CAGR) of nearly 18.3% over the forecast period (2022-2032).
Atrial fibrillation is a condition characterized by an erratic and extremely rapid heartbeat brought on by the rapid electrical discharge from the heart’s atria. The twitching of the atria brought on by these impulses is referred to as fibrillation. Atrial fibrillation limits the flow of blood from the atria to the ventricles, which increases the risk of clots and, ultimately, of stroke and heart failure.
Growing awareness of cardiac arrhythmias and their treatment will significantly contribute to the demand for atrial fibrillation devices. The two main catheter ablation approaches for pulmonary vein (PV) isolation are cryo balloon ablation and radiofrequency ablation, which are easier to use and are considered a low-risk procedure.
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Initiatives taken by various organizations to create awareness and prevention amongst people have significantly increased the 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 Atrial Fibrillation Devices Market 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.
Atrial Fibrillation Devices Market 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.
Atrial Fibrillation Devices Market 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.
- Biomerics
Atrial Fibrillation Devices Market 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 clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as 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)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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