Atrial Fibrillation Surgery Devices Market
Number of pages: 100 | Report Format: PDF | Published date: April 21, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.06 billion |
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Revenue Forecast in 2031 |
US$ 3.59 billion |
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CAGR |
6.35% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Procedure, end user, and region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, The global atrial fibrillation surgery devices market was valued at US$ 2.06 billion in 2022 and is expected to register a revenue CAGR of 6.35% to reach US$ 3.59 billion by 2031.
Atrial Fibrillation Surgery Devices Market Fundamentals
Atrial fibrillation (AF) is characterized by an irregular and frequently sudden heartbeat, which can produce palpitations, shortness of breath, and exhaustion. Atrial fibrillation may necessitate surgical intervention in rare circumstances.
Minimally invasive surgical techniques, such as catheter-based ablation or thoracoscopic surgeries, have grown in popularity in recent years due to the potential benefits, such as shorter hospital stays, faster recovery times, and fewer complications compared to traditional open-heart surgeries. As a result, there is a growing demand for minimally invasive atrial fibrillation surgical instruments created exclusively for these treatments.
Implementing electronic health records, such as remote monitoring, telemedicine, and artificial intelligence (AI), expanding in emerging markets, and integrating digital technologies are potential prospects for AF surgical devices. Additional possibilities may exist as AF therapy evolves due to the evolving healthcare landscape and growing patient requirements. Moreover, the increasing prevalence of atrial fibrillation and the rising geriatric population are expected to drive the demand for AF surgical devices during the forecast period.
Partnerships and collaborations among makers of AF surgical devices, healthcare providers, and research institutes can result in creative solutions, improved clinical outcomes, and larger commercial potential. Collaborative activities may include combined R&D projects, clinical trials, data exchange, and educational campaigns to progress the field of AF surgery and encourage the adoption of new technologies and procedures.
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Atrial Fibrillation Surgery Devices Market Dynamics
The prevalence of atrial fibrillation is expected to increase during the forecast period. According to the Centers for Disease Control and Prevention, atrial fibrillation was indicated on 183,321 death certificates in 2019, and it was the underlying cause of death in 26,535 of those cases. The center also estimates that by 2030, 12.1 million people in the United States will have atrial fibrillation. This highlights the need for healthcare providers to invest in advanced technology to meet the rising demand for surgical procedures. Additionally, it underscores the importance of preventive measures to reduce the incidence of atrial fibrillation.
Advancements in atrial fibrillation surgery devices have greatly improved the success rate and safety of surgical procedures for atrial fibrillation. With advanced technology, surgeons can perform minimally invasive procedures that reduce recovery time and improve patient outcomes. For instance, Abbott has collaborated with physicians worldwide to develop an irrigated ablation catheter that is successful, dependable, and pleasant. The FlexAbilityTM Ablation Catheter Sensor EnabledTM meets this demand by combining a shaft and handles with a high safety and efficacy profile. This ablation catheter is also compatible with the Abbott mapping and navigation system, which includes the EnSite PrecisionTM cardiac mapping system.
As healthcare systems attempt to provide cost-effective care while improving patient outcomes, atrial fibrillation surgical technologies provide advantages such as short hospital stays, fewer complications, and enhanced patient quality of life. These gadgets are being used because they can assist healthcare professionals in achieving better clinical results while lowering healthcare expenditures. Furthermore, using AF surgical devices can lessen the requirement for long-term medication while lowering the risk of stroke and heart failure. As a result, more healthcare practitioners are adding these devices to their atrial fibrillation treatment strategies.
One of the major factors restraining the atrial fibrillation surgery devices market is the high cost associated with these devices and surgeries. There can be a lack of coverage in low and middle-income regions which can further restrict the adoption of the devices. Surgical techniques for ablation, or the removal of abnormal tissue, can be technically challenging and require highly skilled surgeons. Therefore, the need for more skilled professionals to perform these surgeries is also hindering the growth of this market. Moreover, complications such as bleeding, infection, and stroke can occur during or after surgery, and managing these risks requires careful monitoring and follow-up care.
Atrial Fibrillation Surgery Devices Market Ecosystem
The global atrial fibrillation surgery devices market is analyzed from three perspectives: procedure, end user, and region.
Atrial Fibrillation Surgery Devices Market by Procedure
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Based on procedure, the global atrial fibrillation surgery devices market is segmented into catheter ablation and surgical ablation. The catheter ablation segment is further sub-segmented into RF ablation and cryoablation. The surgical ablation segment is further sub-segmented into convergent ablation and maze ablation.
In 2022, the catheter ablation segment dominated the global atrial fibrillation surgery devices market in terms of revenue share. Catheter ablation is a minimally invasive procedure to destroy the tissue causing an irregular heartbeat. The increasing preference for minimally invasive procedures and technological advancements in catheter ablation devices are expected to drive the revenue growth of this segment during the forecast period. Moreover, cryoablation provides equivalent long-term AF/atrial tachycardia-free survival and procedure-related adverse effects. Meanwhile, cryoablation significantly reduces surgery time without affecting fluoroscopy time.
However, the surgical ablation segment is expected to grow in terms of revenue share during the forecast period. This rise in revenue share is attributed to the increasing adoption of surgical ablation procedures due to their effectiveness in treating atrial fibrillation. Technological advancements in surgical ablation devices are also driving the revenue growth of this segment.
Atrial Fibrillation Surgery Devices Market by End User
Based on end users, the global atrial fibrillation surgery devices market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
In 2022, the hospital segment held most global atrial fibrillation surgery devices market. This can be attributed to the increasing number of hospital admissions for atrial fibrillation treatment and the availability of advanced surgical devices in hospitals. The specialty clinics segment is also expected to grow significantly during the forecast period due to the rising preference for outpatient and minimally invasive surgeries.
The ambulatory surgical centers segment is expected to grow in the forecast years. This growth can be attributed to the increasing number of outpatient surgeries performed in ambulatory surgical centers, as they offer cost-effective and convenient options for patients. Additionally, advancements in technology and minimally invasive procedures have contributed to the rise in demand for atrial fibrillation surgery devices in ambulatory surgical centers.
Atrial Fibrillation Surgery Devices Market by Region
Based on the region, the global atrial fibrillation surgery devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America has the highest revenue share in the atrial fibrillation surgery devices market. This can be attributed to the region’s high prevalence of atrial fibrillation and well-established healthcare infrastructure. Additionally, the availability of advanced medical technologies and treatments and the increasing awareness and education about cardiovascular diseases have contributed to better management and outcomes for patients with atrial fibrillation in the region.
The European atrial fibrillation surgery devices market is characterized by the presence of many market players offering a wide range of surgical devices and technologies. The increasing prevalence of atrial fibrillation and the growing demand for minimally invasive surgical procedures are expected to drive the market’s revenue growth during the forecast period.
The Asia Pacific atrial fibrillation surgery devices market is expected to grow significantly during the forecast period. This rise in revenue share is attributed to the rising prevalence of atrial fibrillation, the increasing geriatric population, and advancements in surgical technologies. Additionally, the availability of skilled healthcare professionals and favorable government initiatives are expected to contribute to market revenue growth. Moreover, the growing awareness about the benefits of early diagnosis and treatment of atrial fibrillation among patients and healthcare providers is likely to fuel market revenue. Furthermore, the emergence of innovative non-invasive surgical procedures is expected to create lucrative opportunities for market players during the forecast period.
Atrial Fibrillation Surgery Devices Market Competitive Landscape
The atrial fibrillation surgery devices market’s competitive landscape is characterized by established players focusing on product development and strategic collaborations to strengthen their market position. These players also invest heavily in research and development activities to introduce innovative and advanced products. Moreover, the increasing prevalence of atrial fibrillation across the globe is expected to drive the revenue growth of this market during the forecast period.
The prominent companies operating in the global atrial fibrillation surgery devices market with the largest revenue share are:
Atrial Fibrillation Surgery Devices Market Recent Developments
The atrial fibrillation surgery devices market is expected to experience significant revenue growth due to the rising prevalence of atrial fibrillation and the increasing demand for minimally invasive surgical procedures. Technological advancements in these devices are also expected to drive market revenue growth.
According to the deep-dive market assessment study by Growth Plus Reports, the global atrial fibrillation surgery devices market was valued at US$ 3597.81 million in 2022
Some major strategies key market players adopt include mergers and acquisitions, product innovation, strategic partnerships, and expansion into new markets. These strategies help companies to stay competitive and gain a larger market revenue share.
Based on procedure, the global atrial fibrillation surgery devices market is segmented into catheter ablation and surgical ablation. In 2022, the catheter ablation segment dominated the global atrial fibrillation surgery devices market in terms of revenue share.
The global atrial fibrillation surgery devices market was valued at US$ 2067.28 million in 2022 and is expected to register a revenue CAGR of 6.35 % to reach US$ 3597.81 million by 2031.
*Insights on financial performance are subject to the availability of information in the public domain