Atrial Fibrillation Surgery Market Analysis by Procedure (Catheter Ablation, Surgical Ablation, AV Node Ablation); End User (Hospitals, Ambulatory Surgical Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4857 | Published Date: Apr 28, 2023
Atrial Fibrillation Surgery Market size is estimated to reach ~USD 23 Billion by the end of 2035 by growing at a CAGR of ~17.50% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of atrial fibrillation surgery was ~USD 3 Billion. The growth of the market can be attributed to the increasing number of people suffering from atrial fibrillation. According to reports, in the USA, 2.3 million people suffer from atrial fibrillation and this rate is projected to reach 5.6 million by the year 2050, with more than 50% of these individuals over the age of 80. Further, the advancements in technology in the field of atrial fibrillation surgery are expected to contribute to the growth of the market.
In addition to these, factors that are believed to fuel the market growth of atrial fibrillation surgery include the increased preference to use catheter ablation procedures and products to treat cardiac arrhythmias. Catheter ablation is used especially in conditions where medicines and drugs are not working. For instance, in August 2020, Abbott Laboratories, a manufacturer of healthcare products and medical devices introduced the TactiFlex PAF IDE ablation catheter, which is used to treat a patient suffering from irregular heartbeat, and paroxysmal atrial fibrillation. It has sensors enabled for patients with atrial fibrillation (AFib) symptoms that cannot be treated with medicine. Further, the reduced mortality rate and positive outcomes of atrial fibrillation surgery are predicted to boost market growth in the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~17.50% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2035) |
~ USD 23 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The global atrial fibrillation surgery market is segmented and analyzed for demand and supply by procedure into catheter ablation, surgical ablation, and AV node ablation. Out of the three types of atrial fibrillation surgery, the catheter ablation segment is estimated to gain the largest market share of about ~38% in the year 2035. The growth of the segment can be attributed to the increasing effectiveness of catheter ablation procedures. This procedure is used to treat irregular heart rhythms especially when medicines and drugs seem to have no effect. This is considered a low-risk, minimally invasive, and highly precise treatment pathway. Catheter ablation has a 95% of success rate in the treatment of cardiac arrhythmias. Further, the new product launches by key players in the industry are also estimated to boost market growth. For instance, the TactiFlex PAF IDE ablation catheter was launched by Abbott Laboratories and is used to treat an irregular heartbeat. These factors are estimated to contribute to the growth of the segment in the forecast period.
The global atrial fibrillation surgery market is also segmented and analyzed for demand and supply by end-user into hospitals, ambulatory surgical centers, and others. Among these three segments, the ambulatory surgical centers segment is expected to garner a significant share of around ~40% in 2035. As a consequence of enhanced health infrastructure, availability of skilled labor, and affordability, the ambulatory surgical center segment is expected to see good growth. The rising patient pool and growing geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, are expected to propel the market. However, the advantages of minimally invasive surgeries ultimately lead to a growth in segments as opposed to conventional surgery. On January 2021, the Pathways organization has introduced a top membership program for ASCs, HST One. With the option of adding additional services as required, this membership program allows its end users to select from a selection of bundled popular products in which they themselves take part. The introduction of such differentiated services to ambulatory surgery centers increases the number of patients, which contributes to market growth. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global atrial fibrillation surgery market includes the following segments:
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By Procedure |
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By End User |
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The market share of atrial fibrillation surgery in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~32% by the end of 2035. The market's growth can be attributed majorly to the increasing technological advancements in the region's atrial fibrillation surgery field. Further, the growing prevalence of cardiac conditions in the aging population is another factor that is anticipated to boost market growth. For instance, out of 18.2 million adults, 6.7 % of the adult population is affected by coronary heart disease. It is also estimated that 51% of heart procedures are performed on adults who are 65 and above years of age. The availability of more favorable insurance coverage is also estimated to contribute to the growth of the market in the United States, given its presence of key players. The US Food and Drug Administration granted Boston Scientific Corporation approval of the WATCHMAN FLXLARGE Left Atrial Appendage Closure LAAC device, in July 2020, indicated to reduce the risk of stroke in patients with non-valvular atrial fibrillation (NVAF).
The Asia Pacific atrial fibrillation surgery market is estimated to be the second largest, registering a significant share by the end of 2035. The growth of the market can be attributed majorly to the increasing popularity of the use of minimum-invasive procedures in the region. Moreover, demand for the market is increasing due to rising healthcare costs. Furthermore, the technical advances in atrial fibrillation surgery have been considerable and this has raised the cure rate of patients. Growing obesity and heart disease rates across the region are also driving the atrial fibrillation industry. Additionally, heart disease is one of the leading causes of death worldwide. The number of people suffering from it is increasing exponentially due to a change in lifestyle. For these reasons, it is expected that the market for minimally invasive procedures increases as a result of advantages including reduced patient discomfort, injury, hospital stays, and faster recovery.
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing prevalence of atrial fibrillation conditions and a rise in general awareness of the same. Moreover, the increased healthcare expenditure and growing disposable income are estimated to contribute to the growth of the market in the forecast period.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing technological advancements, new product launches, rise in people with atrial fibrillation conditions are the major factors driving the market growth.
Ans: The market size of atrial fibrillation surgery is anticipated to attain a CAGR of ~17.50% over the forecast period, i.e., 2023 – 2035.
Ans: High cost of ablation catheters, and lack of skilled professionals are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Johnson and Johnson Ltd., Abbott Laboratories.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by procedure, end user, and region.
Ans: The catheter ablation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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