The Atrial Fibrillation Devices Market To Be At Its Innovatively Calculative Finest (Reaching Expand Almost 4X) In The Next 10 Years

The Atrial Fibrillation Devices Market will witness a CAGR of 13%, reaching Expand Almost 4X between 2020 to 2030. With medical IoT implying the use of wearable monitors, devices, and various integrated applications regarding healthcare needs, the healthcare vertical is bound to scale new-fangled heights in the upcoming period. This is what the healthcare vertical would all be in the next 10 years.

As such, the global atrial fibrillation devices market is estimated to be valued at US$ 3.9 Bn in 2020, with the market expected to exhibit a healthy CAGR of more than 14% during the forecast period (2020-2030).

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Interventional electrophysiology devices have already had a significant impact on patients suffering from cardiac arrhythmias, and are being increasingly adopted as a permanent treatment option for atrial fibrillation. Procedures such as radiofrequency ablation, cryoablation, and cox-maze are well performed in today’s practice.

Companies covered in Atrial Fibrillation Devices Market Report

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

Recent studies have found cryoablation to be more effective than medical management, and it is widely used in medical-surgical practice. The overall market is primarily driven by the growing prevalence of atrial fibrillation amongst the geriatric as well as adult population and the adoption of minimally invasive techniques for the permanent treatment of atrial fibrillation.

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Key Takeaways from Atrial Fibrillation Devices Market Study

The diagnostics segment, by product, is expected to gain maximum revenue share over the forecast period. The therapeutic segment is anticipated to increase at a CAGR of 15% over 2020–2030, to reach US$ 8.3 Bn by 2030.

According to PMR data collected from electrophysiologists in various regions, radiofrequency catheter ablation is the procedure of choice due to the high success rate, while cryoablation is the second preference for atrial fibrillation catheter ablation.

By technology, the radiofrequency and cryoablation segments, collectively held more than70% market share in terms of revenue in 2019.

Among all end users, hospitals is the leading segment, which is followed by cardiac catheterization laboratories. The hospitals segment is anticipated to expand at a CAGR of 14%over the forecast period.

North America and Europe, collectively held more than 70%revenue share in 2019, while South Asia is expected to show greater growth potential over the forecast period.

With the ongoing Covid-19pandemic wreaking havoc across the world, other non-emergency treatments have been deprioritized. As such in the near-term, the growth of the atrial fibrillation devices market will be slower than the average for the decade ahead.

“New product approvals and launches of ablation catheters along with increasing demand for minimally-invasive procedures offering increased longevity and safety profiles are driving the growth of the global atrial fibrillation devices market,” says a PMR analyst.

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New Product Launches – Key Strategic Focus of Market Players

Product approvals by the FDA for new AF devices are responsible for intense competition among market players. Numerous organizations are focusing on new product launches for electrophysiology, especially for atrial fibrillation.

For instance, in August 2016, Biosense Webster, Inc., a world leader in the treatment and diagnosis of heart arrhythmias, announced the launch of THERMOCOOL SMARTTOUCH SF catheters with contact force technology and a porous tip designed to optimize the treatment of atrial fibrillation.

Atrial Fibrillation Devices Market: Competition Landscape

The market is dominated by 4 major manufacturers – Biosense Webster, Inc. (Johnson & Johnson), Abbott Laboratories, Medtronic Plc, and Boston Scientific Corporation, with a revenue share of over 70% in 2019. These major manufacturers are focusing on manufacturing electrophysiology devices used specifically for atrial fibrillation procedure, such as ablation devices, intracardiac echocardiography catheters, and left atrial appendage (LAA) management devices.

Key market players covered by PMR include Biosense Webster, Inc. (Johnson & Johnson), Abbott Laboratories, Medtronic Plc, Boston Scientific Corporation, ArtiCure, Inc., Japan Lifeline Co., SE & Co. KG, Biomerics, MicroPort Corporation, and CathRx, who are consolidating their position through mergers, acquisitions, and new product launches.

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This release was published on openPR.