The US cardiovascular devices market is facing growing challenges as President Trump’s tariffs disrupt global supply chains and worsen international relations. Particularly, pulsed field ablation (PFA) devices, often manufactured abroad for cost, efficiency, and material access, are now subject to higher tariffs. This disruption could slow the significant growth seen in the sector in recent years, with hospitals and manufacturers facing rising costs, delays, and uncertainty, says GlobalData.
The electrophysiology market has been growing at a record pace in the past few years, mainly due to the innovation and efficacy in new devices. In the past year alone, PFA devices have rapidly displaced every other advanced electrophysiology system.
Boston Scientific’s FARAPULSE, Medtronic’s PulseSelect, and Johnson & Johnson’s VARIPULSE have all had success in the market, with improved clinical outcomes, shorter procedure times, and better safety for patients. Boston Scientific and Medtronic have both indicated high financial growth in their cardiovascular divisions, with PFA systems being a large part of this growth for both companies.
David Beauchamp, Medical Analyst, GlobalData, comments, “Trump’s tariffs, however, could reduce this high growth. The US remains the largest market for cardiovascular devices, and PFA is currently only available in a handful of countries due to regulatory approval. If these tariffs do end up staying on medical devices, major PFA manufacturers will have to absorb the costs of tariffs or raise the already high prices for these devices.”
GlobalData estimates the US PFA market to be worth $535.9 million in 2024. The market is set to grow at a compound annual growth rate (CAGR) of 31.65 per cent from 2024 to 2034. However, this growth rate may slow down as tariffs begin to create cost increases in the medical device supply chain.
Beauchamp concludes, “It is possible that the American tariffs on other countries could result in a reduction of growth in medical device markets, especially in the cardiovascular sector, where many components are sourced outside of the US. With the continuing uncertainty of these tariffs, it remains to be seen what the effects will be on the medical device industry. In very high-growth markets, including the PFA market, supply chain disruption and manufacturing cost increases may result in healthcare providers preferring other, cheaper options, which could result in a possible slowdown for the growth of PFA systems.”