Medtronic has reported robust early demand for its pulsed field ablation (PFA) system, which treats atrial fibrillation using non-thermal electrical pulses. On a May 23, 2024, earnings call, Sean Salmon, president of Medtronic’s cardiovascular portfolio, highlighted the fast-growing demand in the U.S., mirroring the enthusiasm of Boston Scientific, which also recently launched its PFA technology. Both companies received FDA approval for their PFA systems in late 2023, generating significant interest from medtech firms and Wall Street analysts. According to CEO Geoff Martha, Medtronic expects PFA to grow significantly as a product category by the end of the 2025 fiscal year.Medtronic indicated that the growth in its PFA segment has more than compensated for declines in its cryoablation business.
In the fourth quarter of its fiscal year, Medtronic's cardiac ablation solutions business expanded 21% sequentially, with its cardiac rhythm and heart failure segment seeing a 1.3% year-over-year increase to $1.59 billion.
The company is preparing to launch a second PFA system, Affera, which integrates ablation with cardiac mapping. Medtronic is also working on gaining international approvals and scaling up manufacturing. The company announced clinical studies for its Hugo soft tissue surgical robot, aiming to compete with market leader Intuitive Surgical.
