Atrial Fibrillation Devices Market

Cutting-Edge Technologies Driving Atrial Fibrillation Devices Market Growth

Atrial Fibrillation Devices Market by Product (Electrophysiology Diagnostic and Therapeutics)

Report ID: PMRREP31531

Number of Pages: 250

Format: PPT*, PDF, EXCEL

Industry: Healthcare

Published Date: March-2023

Report Price

$4900*

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Atrial Fibrillation Devices Market Outlook (2023 to 2033)

The Global revenue from the Atrial Fibrillation Devices Market was approximately US$ 5.02 Billion in 2022, with the global market expected to grow at a CAGR of 13.8% to reach a valuation of approximately US$ 20.8 Billion by the end of 2033.

Market Size (2023)

US$ 5.7 Billion

Projected Market Value (2033)

US$ 20.8 Billion

Global Market Growth Rate (2023 to 2033)

13.8% CAGR

Market Share of Top 5 Countries

61.0%

As analyzed by Persistence Market Research, in the product segment therapeutics held a market share of around 52.8% in the global market, in 2022. Overall, the sales of the atrial fibrillation devices market accounted for approximately 8.9% of revenue share in the global cardiovascular devices market, which was valued at around US$ 56.3 Billion in 2022.

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Sales Analysis of Market from 2015 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 12.1% in the last 8 years from 2015 to 2022.

Government and regulatory authorities from several nations are using a variety of cost-containment strategies to ease the burden of healthcare, particularly in developed economies. The government and healthcare service providers have undertaken a number of efforts that have sparked the transition from a volume-based to a value-based system. These include patient-centric care, which focuses on promoting health and well-being rather than over-treating patients, profit-based systems, risk-sharing, price regulation, and competitive tendering.

By optimising the amount spent on healthcare, the value-based healthcare model helps businesses improve outcomes through integrated care pathways, but it also puts pricing pressure on manufacturing companies and has an impact on investments in R&D for cutting-edge medical treatment technologies.

A few significant reasons that contributed to the increased global investment in the healthcare sector include the rising prevalence of chronic diseases, infrastructure improvements, and technological breakthroughs. Healthcare stakeholders are putting payment reforms in place, including the value-based payment model, to assist payers, providers, and patients in getting the greatest care at the most affordable price. By adopting universal health coverage and increasing its investment in the healthcare industry, the government is also making progress. Prominent atrial fibrillation device manufacturers in order to diversify their product offerings and increase their geographical presence are concentrating on the manufacturing and release of new products.

Companies are concentrating their R&D investments to enhance their technology, processes, products, and services. Manufacturers are also concentrating on adding additional features to existing items in addition to developing new ones in order to expand their product line.

Companies like Biosense Webster, Abbott Laboratories, Medtronic, and Boston Scientific are aggressively investing in research and development (R&D) in the area of electrophysiology to create new technologies that could serve as a foundation for improved patient care.

An increase in industrial growth initiatives, such as the purchase of ablation device firms by leading market players to launch cutting-edge goods and technology, will present a huge chance to win customers' trust.

The global market is likely to show high growth over the coming years at a CAGR of 13.8% and reach a global market size of US$ 20.8 Billion by 2033.

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How Can the Global Market Grow?

Growing demand for minimally invasive surgical treatment

The prevalence of atrial fibrillation is rising in both the adult and geriatric population. The main factors contributing to early age mortality and morbidity associated with atrial fibrillation are obesity, hypertension, and other underlying illnesses.

The numerous recent technological developments, such as catheter-based vascular operations and 3D laparoscopic inventions, have skyrocketed the need for minimally invasive surgical procedures. Most procedures now only require a minor incision on the body, resulting in less pain, greater accuracy, and higher rates of efficiency.

Catheter-based ablation and maze surgical ablation are two minimally invasive treatments for atrial fibrillation. While the maze treatment just requires a minor cut in the chest to use a clip to ablate the surgical spot, the catheter-based ablation necessitates many catheter incisions via the femoral vein. During the market forecast, it is predicted that this demand would see a respectable CAGR.

Also, radio-frequency ablation is the most popular and efficient treatment method, according to the key opinion leaders.

With the upcoming strategies and knowledge about cardiac arrhythmias, the atrial fibrillation market will enjoy great demand.

The awareness of lifestyle modification and regular routines has substantially expanded as a result of efforts made by numerous organizations to promote prevention among people. Patients with atrial fibrillation who develop a possibility of problems following the treatment are typically treated with catheter-based ablation. Due to this, innovative therapeutic options like the watchman device, FIRM ablation, and maze and thoracoscopic hybrid ablation have been developed and are being used throughout the world.

The increasing adoption of various types is of ablation operations anticipated to rise as more insurance companies start to reimburse for the treatment of atrial fibrillation. Patients receiving therapy for cardiac arrhythmias are reimbursed by the Centers for Medicare and Medicaid (CMS). The type of technique and intervention utilized to treat atrial fibrillation will affect reimbursement regulations. Over the forecast period, an increase in the prevalence of cardiac arrhythmia-related illnesses is expected. Such advancements in technologies and the adoption of technologies contribute a lot to the growth of the global market of atrial fibrillation devices.

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Can the Market Growth Be Affected in Any Way?

High treatment cost and lack of skilled professionals

As the purchase and installation costs to set up an electrophysiology lab are rather high, it beseeches an adverse impact on the overall adoption of devices by end-users. Hospitals may find it difficult to justify investing in the electrophysiology platform due to the dearth of studies demonstrating successful use and result data from manufacturers.

Also, the overall annual cost of atrial fibrillation treatment is relatively substantial. A barrier to the market expansion for atrial fibrillation devices is the high cost of treatment as well as the purchase and installation of EP Lab.

The market for electrophysiology (EP) services is rising quickly around the world, and many companies are having trouble locating and hiring skilled personnel to keep up with the demand. Due to a shortage of qualified experts, the demand for this operation may be limited.

To administer the operational electrophysiology machines, there is a global lack of skilled EP technologists. The hospitals in poor economies have rather less demand for electrophysiology machines due to a shortage of competent experts.

Country-wise Insights

Why is the United States Market Booming?

“High focus on development and new product launch”

The United States accounted for around 40.3% market share in the global atrial fibrillation devices market in 2022.

The advancements in healthcare infrastructure and increasing technology usage will be the main drivers propelling the atrial fibrillation devices market expansion in the United States.

One of the biggest difficulties faced by healthcare systems is the increasing rise in heart illness among the elderly. Numerous new products are approved and introduced in the United States in order to address these issues

Will Germany Be a Lucrative Market for Atrial Fibrillation Devices?

“Need for Revised Regulations, and Presence of Strong Market Player”

The German market held around 6.2% market share of the global market in 2022.

The increasing use of minimally invasive ablation techniques has led to the development of the atrial fibrillation devices market in Germany. The country's welcoming reimbursement system will further increase the demand for cutting-edge atrial fibrillation equipment.

The adoption of new devices with improved features and an increase in atrial fibrillation operations have made Germany the second-most lucrative market for atrial fibrillation devices. Also, the increased prevalence of atrial fibrillation and improvements in the healthcare system are driving the demand for atrial fibrillation devices internationally.

How is China Emerging as a Prominent Market?

“Increasing cardiovascular disease and rising popularity of private clinics”

China held a market share of about 5.6% of the global market in 2022.

The rising incidence of heart illnesses is brought on by abrupt changes in lifestyle-related behaviours and increased tobacco use tendencies among millennials. The development of hospitals, the expansion of new healthcare facilities, and the rising popularity of private clinics have all increased industry revenue. The current unmet needs are the main drivers of market growth throughout the forecast period.

Category-wise Insights

Which Product is Driving Demand within the Global Market?

“Increase in chronic illness and significant adoption of EP ablation catheters”

The product segment of therapeutics EP ablation held around 76.9% share of the total market in 2022.

The widespread use in atrial fibrillation procedure care units, EP ablation catheters occupy the largest share under therapeutics in the atrial fibrillation devices marker. In the majority of places on earth, ablation catheters are currently the most common interface. The expanding procedural success rate in patients with paroxysmal, chronic, and permanent forms of atrial fibrillation is driving up the acceptability rate of catheter ablation systems. Many patients with acute atrial fibrillation choose minimally invasive procedures, and catheter ablation has a significant market share worldwide because it effectively treats the illness.

Which Application is Widely in Focus in the Global Market?

“Growing number of cardiac arrhythmias and increase in R&D expenditure”

Radiofrequency applications hold a share of about 59.1% in 2022, globally in the technology segment.

In response to the rise in cardiac diseases such as atrial fibrillation (AF), atrial flutter, cardiac arrhythmias, and others, the market for radiofrequency ablation devices is expanding. The many mid-to-large size businesses have increased R&D expenditures in this industry. Also, the smaller businesses have moved their attention to stepping up R&D efforts in the RFAD industry, leading to several product breakthroughs and therefore influencing the market.

Which End User Propels the Global Sales in the Market?

“Safety and Quality Maintenance in Accordance to Regulations”

In end user segment, hospitals held a share of about 81.2% in 2022, within the global market.

The preponderance of atrial fibrillation procedures is performed in hospitals, which accounts for a significant amount of the hospital end user segment's contribution to the global market. Due to the growing number of multi-specialty hospitals and the preference of patients for hospitals over alternative healthcare settings, the hospital segment will continue to dominate.

Competition Landscape

The key companies operating in the atrial fibrillation devices market will hold maximum revenue share owing to better recognition, strong financial position and finest quality products. These leaders employed a variety of tactics in an effort to outperform their competitors. The leaders in the market use various tactics, such as new product releases, acquisition plans, expansion strategies, etc.

Some key instances of development include:

  • In May 2019, J&J’s Biosense Webster launched a cloud-based cardiac ablation data network to link up the field’s myriad devices and share the data used in practice
  • In January, 2019 Medtronic plc announced that it entered into a definitive agreement to acquire EPIX Therapeutics, Inc., a privately held medical device company that manufactures catheters and cardiac ablation systems for the treatment of arrhythmias including AF

Atrial Fibrillation Devices Industry Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2015 to 2022

Market Analysis

  • USD Billion for Value
  • Units for Volume

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Türkiye
  • GCC Countries
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Technology
  • End User
  • Region

Key Companies Covered

  • Biosensense Webster, Inc. (Johnson & Johnson)
  • Abbott Laboratories
  • Medtronic Plc
  • Boston Scientific Corporation
  • AtriCure, Inc.
  • Japan Lifeline Co.
  • Biotronik, Inc.
  • MicropORT Scientific Corporation
  • Biomerics
  • CathRx

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Atrial Fibrillation Devices Industry Research

Product:

  • Electrophysiology Diagnostic
    • Conventional
      • Steerable
      • Fixed
    • Advanced EP Mapping Catheters
    • Coronary Sinus Catheters
    • Intracardiac Catheters
  • Therapeutics
    • EP Ablation Catheters
      • RF Ablation Catheters
        • Conventional RF catheters ablation
        • Irrigated RF catheters ablation
      • Cryoablation
        • Single electrode Cryoablation catheters
        • Multi-electrode Cryoablation catheters
      • Epicardial Catheters Ablation
    • Maze surgery
      • RF Ablation Clamps
      • Cryoprobes
    • LAA Management Devices

Technology:

  • Radiofrequency
  • Cryotherapy
  • Ultrasound
  • Others

End User:

  • Hospital
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Labs

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

For report customisation and delivery information contact our sales representative.

Companies Covered in This Report

  • Biosensense Webster, Inc. (Johnson & Johnson)
  • Abbott Laboratories
  • Medtronic Plc
  • Boston Scientific Corporation
  • AtriCure, Inc.
  • Japan Lifeline Co.
  • Biotronik, Inc
  • MicropORT Scientific Corporation
  • Biomerics
  • CathRx

Frequently Asked Questions

The global market is currently valued at around US$ 5.02 Billion in 2022.

Sales of the market are set to witness growth at a CAGR of 13.8% and be valued at around US$ 20.8 Billion by 2033.

Demand for the global market increased at a 12.1% CAGR from 2015 to 2022.

The U.S., China, Germany, the U.K., and France account for most demand within the market, currently holding around 61.0% market share.

The U.S. accounts for around 40.3% share of the global market in 2022.

Latin America accounts for around 8.9% share of the global market in 2022.

The China market held a share of about 5.6% in the global atrial fibrillation devices market in 2022.

The Germany atrial fibrillation devices market holds 6.2% of the global market.

The North America atrial fibrillation devices market holds the share of 42.5% in 2022.

The atrial fibrillation devices market in Europe holds the share of 28.8% globally in 2022.

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