Atrial Fibrillation Surgery Devices Market to Hit USD 7.0 Bn by 2031 | Transparency Market Research
Major Key players operating in the global atrial fibrillation surgical devices market are Abbott Laboratories., Biosense Webster, Inc., Medtronic plc, Koninklijke Philips N.V., Boston Scientific Corporation, CardioFocus, Inc., AtriCure, Inc., Osypka AG, Kardium, Inc., and Acutus Medical.
Wilmington, Delaware, United States, March 23, 2023 (GLOBE NEWSWIRE) -- According to Transparency Market Research, The global atrial fibrillation surgical devices market size was worth USD 2.1 Bn in 2022 and is estimated to exceed USD 7.0 Bn by 2031. The market is likely to expand at a CAGR of 14% between 2022 and 2031.
Rising preference for minimally invasive treatments and increasing occurrence of atrial fibrillation to drive business opportunities in the global atrial fibrillation surgery devices market. Growth in patient as well as physician knowledge about advantages of atrial fibrillation surgery devices are anticipated to fuel market development.
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Market Snapshot:
Market Revenue | USD 2.1 Bn in 2022 | |
Estimated Value | USD 7.0 Bn by 2031 | |
Growth Rate - CAGR | 14% |
|
Forecast Period | 2022 and 2031 | |
No. of Pages | 170 Pages | |
Market Segmentation | By Procedure, End-user | |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
Format | Electronic (PDF) + Excel | |
Technical developments such as introduction of sophisticated catheters, ablation tools, and mapping systems that are predicted to increase patient safety and result in improved outcomes are estimated to drive business growth. Companies in the global atrial fibrillation surgery devices industry can benefit from emerging market trends of customized medicine and patient-centered healthcare. Manufacturers are concentrating on developing cutting-edge atrial fibrillation surgery devices to gain larger market share. Nevertheless, high cost of equipment and lack of skilled professionals to carry out the operations are projected to impede industry growth between 2022 and 2031.
Atrial fibrillation (AF), a typical cardiac arrhythmia that often results in rapid and irregular heartbeats, is treated using surgical devices. Electrical impulses in the heart that produce the arrhythmia are either blocked or abated by these devices. Surgical ablation tools, catheter-based ablation systems, and left atrial appendage closure tools are some of the types of AF surgery devices. These devices are utilized in combination with other therapies, including medicines or lifestyle modifications, to control AF and minimize the likelihood of stroke or other problems.
Key Findings of Market Report
Based on procedure, the catheter ablation segment held major market share in 2022, accounting for 70.0% of the global market. Rise in incidence of cardiovascular illnesses is anticipated to boost the segment in the near future. Radiofrequency is the energy source that is often utilized in catheter ablation operations.
The hospitals segment is likely to hold the largest share of the global atrial fibrillation surgery devices market during the forecast period. Atrial fibrillation procedures are often performed in hospitals, since these facilities have the necessary equipment and experts. Moreover, ambulatory surgical clinics and other special facilities offer atrial fibrillation surgery services. This is expected to boost the segment in the next few years.
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Global Atrial Fibrillation Surgery Devices Market: Growth Drivers
Rise in number of cases of AF across the globe is estimated to propel the global industry. AF ranks among the most prevalent arrhythmias and impacts millions of individuals worldwide. Heart failure, stroke, and various other cardiovascular problems are related with higher risk in AF. Increase in number of elderly people is also making AF a common condition, as the likelihood of having AF rises with age. The occurrence of AF is also driven by lifestyle modifications. For instance, key risk factors for AF are high blood pressure, diabetes, and obesity. The occurrence of these conditions has increased during the past several years, thus augmenting the incidence of AF.
Minimally invasive techniques have become more popular over the last several years. Compared to open surgeries, minimally invasive procedures present a number of benefits, including reduced scarring, less discomfort, and quicker recovery time. As a result, popularity of minimally-invasive procedures—including those utilized to manage atrial fibrillation—has increased. In recent years, more people have started using catheter ablation. A research paper in the Journal of the American College of Cardiology found that between 2000 and 2018, the use of catheter ablation for treating AF jumped by over 700%. This trend is anticipated to continue as more healthcare professionals choose to treat AF with the less invasive strategy. In turn, this is projected to support the expansion of the global atrial fibrillation surgery devices market in the near future.
Global Atrial Fibrillation Surgery Devices Market: Regional Landscape
North America held nearly 35% of the global market in 2022. The region is anticipated to be a lucrative market from 2022 and 2031. Dominance of North America in the global industry can be ascribed to the rise in incidence of cardiac arrhythmia in the region. The U.S. is likely to dominate the North America market owing to the presence of major market players and rise in research and development efforts for atrial fibrillation surgery devices.
Global Atrial Fibrillation Surgery Devices Market: Key Players
Koninklijke Philips N.V.
Boston Scientific Corporation
Abbott Laboratories
Acutus Medical, Inc.
AtriCure, Inc.
Biosense Webster, Inc.
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Global Atrial Fibrillation Surgery Devices Market: Segmentation
Procedure
Catheter Ablation
Surgical Ablation
End-user
Hospitals
Specialty Centers
Ambulatory Surgical Centers
Others
Regions
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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