Atrial Fibrillation Devices Market

Global Market Study on Atrial Fibrillation Devices: Steerable Conventional Catheters to Be Most Sought-after Over Coming Years

  • June-2020
  • PMRREP31531
  • 314 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Introduction

High prevalence of atrial fibrillation as well as growing adoption of minimally-invasive procedures across the world are key growth drivers for the atrial fibrillation devices market.

Radiofrequency ablation and cryoablation are expected to hold prominent shares in the atrial fibrillation devices market over the coming years, owing to the increased success rates of these procedure.

Maze surgery, LAA management, and the pulmonary vein isolation technique have come to the forefront for the management of underlying diseases and complications associated with atrial fibrillation.

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Companies

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

Steerable Conventional Catheters to Be Most Sough-after

Steerable conventional catheters are more frequently used by electrophysiologists while performing EP studies, due to their flexibility and ease of use. Steerable and fixed diagnostic catheters are also used to give temporary pacing to right atriums and right ventricles during the procedure. This segment is expected to hold more than 40% market share, under diagnostics, with an annual growth rate of 9%.

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Radiofrequency - Traditional and Most Effective Technology for Atrial Fibrillation

Radiofrequency catheter ablation has been traditionally used from more than a decade for ablation during the treatment of atrial fibrillation. However, cryotherapy is noted as the second-most effective and safe procedure that uses cryoballoons for pulmonary vein isolation and ablation, by freezing the tissue.

The radiofrequency segment was valued US$ 2 Bn in 2019, and is expected to expand at a CAGR of 13% through 2030. Other technologies used in the treatment of atrial fibrillation device include ultrasound, focal impulse and rotor modulation (FIRM), and microwave and laser based ablation.

The adoption of these technologies is comparatively less as compared to radiofrequency and cryoablation. FIRM ablation has been recently launched by doctors from Stanford; a new technology for mapping and treating atrial fibrillation, more precisely.

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Covid-19 Pandemic Impact on Market

The outbreak of novel coronavirus has indirectly affected the growth of the atrial fibrillation devices market by delaying/reducing the number of procedures as of now. According to new guidelines by AHA and ACC, the triaging of procedures has been done by separating patients into urgent, semi-urgent, and non-urgent.

The pandemic will have numerous short-, mid-, and long-term impacts on the medical device industry. Companies that operate regularly in the supply chain expect to see the emergence of stronger, more conservatively-financed, multi-site suppliers as a long-term outcome.

As the coronavirus crisis expands, providers are rapidly shifting their practice and purchasing priorities to meet the demands of containing pandemic.  Medical staff and equipment are being shifted to fight the virus and its complications.

Healthcare professionals, diagnostic labs, and capital equipment are mostly being used for the screening and treatment of coronavirus patients. Overall, demand will see some decline during the pandemic due to focus on prevention and transmission of the coronavirus disease.

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Regional Analysis of Atrial Fibrillation Devices Market

North America dominates the global atrial fibrillation devices market, attributed to the continuously evolving reimbursement scenario, coupled with the rising risk of atrial fibrillation among the elderly population. North America and Europe, together, hold a noteworthy market share of more than 70% in terms of revenue.

Rising number of atrial fibrillation procedures and the launch of new products with added advantages have represented Europe the second-most lucrative region for atrial fibrillation devices. Also, continuous rise in the incidence of atrial fibrillation and development in healthcare infrastructure are boosting the demand for atrial fibrillation devices across Asia Pacific.

Atrial Fibrillation Devices Market Trends

The demand for catheter-based atrial fibrillation has tremendously increased over the past few decades. Various public health initiatives and government programs have been successfully implemented to support and create awareness amongst people.

Moreover, increasing expansion activities such as acquisition of electrophysiology device manufacturers by major market players to introduce innovative products and technologies, will bring significant opportunity to gain customer trust.

For instance, the introduction of a combination of fluoroscopic and intracardiac ultrasound images is responsible for improvements in atrial fibrillation procedures.

Likewise, mechanical advancements and launch of innovative products such as LAA invasive and surgical devices have successfully reduced the complications of stroke in patients with atrial fibrillation.

This factor will accelerate the growth of the atrial fibrillation devices market over the forecast period. Additionally, leading players in the atrial fibrillation devices market are focusing on collaborations and partnerships with various technologically-advanced software and medical equipment companies to strengthen their position and increase sales.

Analysts’ Viewpoint

Increment in the number of cardiac patients and favorable reimbursement scenario are mainly responsible for the growth of the atrial fibrillation devices market at an impressive rate, with North America and Europe holding substantial share of the global market. Strategic mergers and new product launches by key market players are expected to drive growth over the coming years. Organizations with innovative working capabilities and technological ability will be well placed to sustain their position in the global atrial fibrillation devices market.

Atrial Fibrillation Devices Market: Segmentation

The global atrial fibrillation devices market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach to the reader.

Product

  • Diagnostics
    • Conventional Catheters
      • Steerable
      • Fixed
    • Mapping Catheters
    • Coronary Sinus Catheters
    • Intracardiac Catheters
  • Therapeutics
    • EP Ablation
      • RF Ablation Catheters
        • Conventional Catheters
        • Irrigated Catheters
      • Cryoablation
        • Single Electrode Catheters
        • Multi-electrode Catheters
      • Epicardial Ablation
    • Maze Surgery
      • RF Ablation Clamps
      • Cryoprobes
    • LAA Management Devices

 

Technology

  • Radiofrequency
  • Cryotherapy
  • Ultrasound
  • Others

 

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

 

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Questions Answered in PMR’s Atrial Fibrillation Devices Market Report

  • Which regions will continue to remain the most profitable regional markets for atrial fibrillation devices market players?
  • What are the different opportunities available for new entrants as well as existing market players in the atrial fibrillation devices market?
  • How are supply-side and demand-side drivers impacting the atrial fibrillation devices market?
  • What are the key factors driving the atrial fibrillation devices market?
  • How can market players capture the low-hanging opportunities in the market in developed regions?
  • Which is the leading segment in the atrial fibrillation devices market by product?
  • Which company accounted for the highest market share for atrial fibrillation devices?
  • What are the winning strategies of stakeholders in the atrial fibrillation devices market to upscale their position in this landscape?

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