Tariffs May Impact Growth of US Cardiovascular Device Market: GlobalData

Data and analytics company GlobalData has stated that US-imposed tariffs introduced during the Trump administration are disrupting global supply chains and could impact the growth of the country’s cardiovascular device market.

According to the company, pulsed field ablation (PFA) systems often manufactured overseas for reasons of cost and material access are now subject to higher tariffs, leading to increased costs and uncertainty for hospitals and manufacturers.

The company states that the electrophysiology market has seen significant growth in recent years, driven by advances in medical device technology.

In the past year, PFA systems have rapidly gained ground, replacing other advanced electrophysiology tools. Some PFA systems have gained market traction in recent years, driven by factors such as shorter procedure times, improved clinical outcomes, and enhanced safety for patients.

Boston Scientific and Medtronic have both reported strong performance in their cardiovascular portfolios, with PFA systems contributing to this growth.

David Beauchamp, Medical Analyst at GlobalData, noted that continued US tariffs could dampen the strong growth of the cardiovascular device market.

With the US being the largest market and PFA systems still limited to a few countries due to regulatory constraints, manufacturers may face a choice between absorbing higher costs or increasing prices.

GlobalData estimates the US PFA market to be worth $535.9 million in 2024, with a projected compound annual growth rate (CAGR) of 31.65 per cent through 2034. This outlook may be affected by tariff-related cost pressures within the medical device supply chain.

“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 possible slowdown for the growth of PFA systems,” said David Beauchamp