Atrial Fibrillation Devices Market by Product (EP Ablation Catheters, EP Diagnostic Catheters, Mapping and Recording Systems, Cardiac Monitors or Implantable Loop Recorder, Access Devices, Intracardiac Echocardiography (ICE), Left Atrial Appendage (LAA) Closure Devices), By End-use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031

The Atrial Fibrillation Devices market was valued at $6.1 billion in 2022. It is projected to grow at a CAGR of 17.2% from 2023 to 2031 and reach more than $17.4 billion by the end of 2031. 

Analysts’ Viewpoint by Cognate Lifesciences

According to industry analysts, the global atrial fibrillation devices market is expected to see significant growth in the coming years, driven by several factors including the increasing prevalence of atrial fibrillation, the rising demand for minimally invasive procedures, and the growing adoption of advanced technologies such as ablation catheters and left atrial appendage closure devices.

In addition to increasing demand, the market is also being driven by technological advancements. Advanced technologies such as ablation catheters and left atrial appendage closure devices are playing an increasingly important role in the treatment of atrial fibrillation. Ablation catheters are used to destroy the heart tissue that is causing the irregular heartbeat. Left atrial appendage closure devices are used to close off the left atrial appendage, a small pouch in the heart that is a major source of blood clots. The adoption of these technologies is expected to grow in the coming years as they become more effective and less expensive.

Atrial Fibrillation Devices Overview 

The global atrial fibrillation (AF) devices market is driven by the increasing prevalence of atrial fibrillation, the rising demand for minimally invasive procedures, and technological advancements in ablation catheters and left atrial appendage closure devices. The increasing prevalence of atrial fibrillation is a major factor driving the growth of the atrial fibrillation devices market. Atrial fibrillation is the most common type of irregular heartbeat, affecting approximately 33 million people worldwide. The prevalence of atrial fibrillation is expected to increase in the coming years due to the aging population and the rising prevalence of risk factors such as obesity, hypertension, and diabetes. Moreover, patients are increasingly demanding minimally invasive procedures for the treatment of atrial fibrillation, which is also driving the growth of the market. Minimally invasive procedures are associated with shorter recovery times and fewer complications than traditional open-heart surgery. The future of the atrial fibrillation devices market is promising, with significant growth opportunities expected in the coming years. Companies that can develop innovative and effective atrial fibrillation devices are well-positioned to capitalize on this growth opportunity.

The rapid advancement of technology is revolutionizing the delivery of healthcare services and facilities for cardiovascular conditions. The surging prevalence of cardiovascular diseases is propelling the demand for sophisticated diagnostic and treatment devices that deliver effective and efficient care. Key market players have made significant strides in developing treatments for atrial fibrillation, such as Medtronic India's launch of its Arctic Front Cardiac Cryoablation Catheter System in November 2021. This innovative product targets pulmonary vein isolation to disrupt unwanted electrical signals, paving the way for effective treatment of atrial fibrillation. These technological breakthroughs and product introductions are poised to fuel market growth.

Furthermore, the advent of technologies and product approvals are intensifying competition within the market. For example, in August 2021, Abbott secured FDA approval for its Amplatzer Amulet Left Atrial Appendage (LAA) Occluder. This product is specifically designed for AFib patients at risk of ischemic stroke, and its unique design enables immediate LAA closure without the need for blood-thinning medication, effectively mitigating the risk of stroke.

New product launches to flourish in the market

The atrial fibrillation devices market is expected to see several new product launches in the coming years. Some of the key product launches expected in the atrial fibrillation devices market are:

• New ablation catheters - Ablation catheters are used to destroy the heart tissue that is causing the irregular heartbeat. Several companies are developing new ablation catheters with improved ablation capabilities. For example, in 2020, Biosense Webster received FDA approval for its THERMOCOOL SMARTTOUCH ablation catheter. This catheter uses a temperature-controlled ablation method that is designed to be more effective and less damaging to surrounding tissue.
• Amplatzer Amulet LAA Occluder - In January 2023, the Amplatzer Amulet LAA Occluder is a next-generation LAA closure device that offers several advantages over previous devices. It is designed to be more effective at preventing stroke than other devices, and it does not require patients to take blood thinners after the procedure. This makes it a valuable option for patients who are at high risk of stroke and who cannot take blood thinners.

Segment Overview:

By Product: The Atrial Fibrillation Devices market is divided into EP ablation catheters, EP diagnostic catheters, mapping and recording systems, cardiac monitors or implantable loop recorder, access devices, Intracardiac Echocardiography (ICE), Left Atrial Appendage (LAA) closure devices. The dominating segment of the Atrial Fibrillation Devices market is EP ablation catheters. This segment is expected to account for the largest share of the market in the coming years. The growth of this segment is being driven by the increasing prevalence of atrial fibrillation and the rising demand for minimally invasive procedures. The fastest-growing segment of the Atrial Fibrillation Devices market is LAA closure devices. This segment is expected to grow at a CAGR of 15.2% from 2023 to 2031. The growth of this segment is being driven by the increasing awareness of the risks of stroke in AFib patients and the availability of new and more effective LAA closure devices.

By End-use: The atrial fibrillation devices market is segmented into hospitals, cardiac centers, ambulatory surgical centers, and others. The hospitals segment is expected to dominate the atrial fibrillation devices market in the coming years. This is due to the fact that hospitals have the infrastructure and expertise to perform complex atrial fibrillation procedures. In addition, hospitals are increasingly investing in advanced atrial fibrillation devices, which are driving the growth of this segment. The ambulatory surgical centers (ASCs) segment is expected to be the fastest-growing segment of the atrial fibrillation devices market in the coming years. This is due to the increasing popularity of minimally invasive atrial fibrillation procedures, which can be performed safely and effectively in ASCs. In addition, ASCs offer shorter recovery times and lower costs than hospitals, which is making them an attractive option for patients and providers.

By Region:

The North American region is projected to maintain its dominance in the global atrial fibrillation devices market. In 2022, it held the largest revenue share of over 39%. This dominance is driven by a growing prevalence of atrial fibrillation, a large patient population, and the presence of major market players in the region. According to the CDC, between 2.7 million and 6.1 million Americans had atrial fibrillation in 2019. This number is expected to rise to 12.1 million by 2030, with the aging population being a major factor. This growing demand for atrial fibrillation treatment is expected to boost the growth of the atrial fibrillation devices market in the coming years. North America's dominance in the Atrial Fibrillation Devices market is attributable to a combination of factors, including the increasing prevalence of atrial fibrillation, a large patient population, the presence of major market players, and an aging population. These factors are expected to continue driving market growth in the coming years.

The Asia Pacific region is poised to experience the most rapid growth in the global atrial fibrillation devices market during the forecast period. This growth is fueled by a combination of factors, including rising prevalence of cardiovascular diseases and atrial fibrillation, increased investments in research and development, and need for effective treatment options. The Asia Pacific region is witnessing a surge in cardiovascular diseases and atrial fibrillation, driven by factors such as an aging population, changing dietary habits, and sedentary lifestyles. This growing prevalence is creating a significant demand for advanced cardiac care solutions. Furthermore, increased investments in research and development aimed at producing advanced cardiac care solutions, including atrial fibrillation devices. This investment is driving innovation and the development of more effective and efficient treatment options for atrial fibrillation. These factors are expected to drive significant market expansion in the coming years.

Competitive analysis and profiles of the major players in the Atrial Fibrillation Devices market, such as Abbott Laboratories, Biosense Webster, Inc., Medtronic plc, Boston Scientific Corporation, CardioFocus, Inc., AtriCure, Inc., Osypka AG, Kardium, Inc., Acutus Medical, Inc., and Koninklijke Philips N.V. Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of the atrial fibrillation devices market.   

Market Scope and Structure Analysis

Key Segments Covered

Product

• EP Ablation Catheters
• EP Diagnostic Catheters
• Mapping and Recording Systems
• Cardiac Monitors or Implantable Loop Recorder
• Access Devices
• Intracardiac Echocardiography (ICE)
• Left Atrial Appendage (LAA) Closure Devices

End-use

• Hospitals
• Cardiac Centers
• Ambulatory Surgical Centers
• Others

Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Israel
  • Rest of Middle East & Africa