NEWARK, Del, May 26, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights, the global atrial fibrillation devices market was valued at over US$ 3.2 Bn in 2021 and is expected to exhibit a CAGR of 17.2% over the forecast period (2022-2032).
Atrial fibrillation is a condition derived from an irregular and very fast heartbeat due to the rapid-fire of electrical impulses from the atria of the heart. These impulses cause the atria to twitch, which is known as fibrillation. Atrial fibrillation restricts the blood flow from the atria to the ventricles leading to clots which will further increase the chance of stroke and heart failure.
Growing awareness of cardiac arrhythmias and their treatment will significantly contribute to the demand for the atrial fibrillation devices. The two main catheter ablation approaches for pulmonary vein (PV) isolation are cryoballoon ablation and radiofrequency ablation, which are easier to use and is considered a low risk procedure.
Initiatives taken by various organization to create awareness and prevention amongst people has 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 atrial fibrillation devices market.
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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 atrial fibrillation devices market.
Key Takeaways from 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, 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 market 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.
Market Competition
Prominent market players in the atrial fibrillation devices market 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.
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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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa(MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Atrial Fibrillation Epidemiology
4.2. Regulatory Landscape
4.3. Reimbursement Outlook
4.4. Key Promotional Strategies, By Manufacturers
4.5. New Products Launches & Approvals
4.6. Value Chain Analysis
4.7. PESTLE Analysis
4.8. Porter’s Analysis
TOC Continued…
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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