Frost Radar™: Medical Devices in Atrial Fibrillation Market, 2020
This Frost Radar™ analyzes emerging trends in the atrial fibrillation (AFib) landscape and profiles key market participants that deliver innovative solutions and maintain leadership in major segments in the care continuum, such as screening and monitoring, image-guided navigation and cardiac mapping, cardiac ablation, and left atrial appendage (LAA) occlusion.
AFib is the top cause of blood clots that lead to stroke, and persons with the condition are five times more likely to suffer a fatal stroke. The prevalence of AFib is about 3% of the general population and is expected to double over the next 30 years. The estimated market size of medical devices to diagnose and treat AFib is expected to reach about $15 billion in 2025. Abbot, Biosense Webster (J&J), Boston Scientific, and Medtronic lead the market for minimally invasive intervention for diagnosis and surgical treatment by offering a plethora of electrophysiological diagnostic and interventional devices. However, the market for screening and monitoring is witnessing the emergence of disruptive start-ups building clinical-grade personal ECG devices with superior specificity and sensitivity parameters. The increase in the number of catheter-based procedures and the introduction of technologically advanced cardiac ablation devices are expected to drive growth for EP ablation segment. Novel catheter-based technologies, such as contact force sensing, pulsated field ablation (PFA) and titratable laser energy are expected to gain more adoption in cardiac ablation procedures. Advanced 3D cardiac mapping and robotic navigation systems from Philips and Stereotaxis are making ablation procedures quicker and efficient. There is increasing collaboration between companies specializing in ablation segment and those specializing in cardiac mapping and navigations. Similarly, established device companies are likely to create synergistic partnerships with or strategically acquire emerging start-ups in the screening segment to keep pace with technological advancement and create a pipeline of cutting-edge products. The screening segment is expected to show higher growth in the care continuum due to greater emphasis on early detection and remote monitoring through clinically validated handheld devices and patches. Companies, such as AliveCor and iRhythm Technologies, have disrupted the screening and monitoring of heart rate variability (HRV) by making more compact and user-friendly devices, in addition to building robust data analytics for an accurate diagnosis.
The Frost Radar™ reveals the market positioning of companies in an industry using their growth and innovation scores as highlighted in the Frost Radar™ methodology. The document presents the competitive profiles of each of the companies and provides insight into their innovation capabilities, growth potential, and future roadmap. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the growth and innovation indices are recognized as best practice recipients.
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