BTIG Forecasts PFA to Capture 68% of U.S. Atrial Fibrillation Ablation Market by 2026, Bullish on Boston Scientific and Johnson & Johnson

Jan 28, 2025 14:31 CST Updated 14:31

Johnson & Johnson

Medical Device R&D and Manufacturer

Recently, a well-known investment institution BTIG released a report on the prospects of PFA in the United States for the next two years.Market Landscape Forecast: This is another major investment institution看好PFA market after Citibank.

BTIG surveyed 23 electrophysiology experts and oneCardiologists conduct aA survey (these doctors complete an average of 151 atrial fibrillation ablations per year) showsToIn 2026, PFA will account for the entire United States.Atrial Fibrillation Ablation Market 68%。BTIG Forecast and CitiBank and WaveSimilar. Citibank predicts that PFA will account for 49% of the U.S. atrial fibrillation ablation market this year. Boston Scientific forecasts that PFA will capture 40-50% of the global atrial fibrillation ablation market this year, surpassing 60% by 2026. PFA is expected to fully replace thermal ablation (radiofrequency ablation and cryoablation).

However, BTIG's forecast for the future market landscape of PFA differs from that of Citibank. Citibank is more optimistic about Medtronic, believing that Medtronic will capture 56% of the PFA market this year, while Boston Scientific will hold only a smaller share.33%。

BTIG, on the other hand, is bullish on Boston Scientific, believing that it will become the biggest winner in this electrophysiology revolution.BTIG Completes Market Forecast for Mainstream PFA:

In 2024, Boston Scientific dominates the U.S.Market60%, followed by Medtronic (approximately 32%), Johnson & Johnson (approximately 6%), and Abbott (approximately 2%);
By 2025, Boston Scientific will account for 58% of the U.S. market, followed by Medtronic (28%), Johnson & Johnson (11%), and Abbott (3%).
2026，BocoOccupy the United StatesMarket48%, followed by Medtronic (29%), Johnson & Johnson (20%), and Abbott (3%).。

In the future, as competition becomes more intense, Boston Scientific's market share will slowly decline, and the lost market share will be taken over by Johnson & Johnson, the leader in the thermal ablation era.

BTIG's bullish stance on Johnson & Johnson is mainly due to the positive outlook from doctors during this survey. According to BTIG, 24 physiciansAmong the respondents, 16 expressed that the suspension was "concerning" or "worrisome," and many stated they would not use Varipulse until the issues were explained and resolved. However, sixThe respondents clearly stated that they would continue to use it. Meanwhile, these doctors indicatedVaripulse Stroke EventThere may be a non-causal explanation, or the event may be related to off-label use (super-indicated use). This issue can potentially occur with any technology, or it may be resolved soon.

BTIG's reason isLooking at Multi-Wave Co., besides Wave Co. being the pioneer of PFA technology, it is also because Wave Co. may subsequently launch innovative products and new indications (such as persistent atrial fibrillation). They even believe that Wave Co.'s market share in 2026 will exceed BTIG's forecasted market share.

BTIG interviewed fewer doctors compared to Citibank, with BTIG interviewing 24 and Citibank 76. There is a significant difference in their market analysis approaches for mainstream players. However, regardless of...BTIG orCitibankAlright, the future market prospect of PFA is bullish, and it will surely replace thermal ablation rapidly. As for whether Boston Scientific, Medtronic, or Johnson & Johnson takes the lead, it doesn't really matter. The rapid popularization of this new technology will bring unprecedented clinical benefits to patients with atrial fibrillation, helping them avoid terrible complications or even death. After all, the ultimate wish in treating diseases is safety.