The global atrial fibrillation market is expected to hit growth at 11.0% CAGR during the forecast period 2021 and 2030 and is projected to surpass around US$ 12.2 bn by the end of 2030.
The presence of an ever-evolving domain of cardiology has created fresh opportunities for growth across the global atrial fibrillation market. The vulnerability of the aging population towards cardiac diseases has intensified the concerns of the medical industry. There has been an increase in investments made towards studying about the causes and effects of chronic diseases such as atrial fibrillation. Furthermore, cardiac diseases can significantly degrade the quality of life for the sufferers, compelling them to lead a medicine-ridden life. However, with recent advancements in healthcare and medical practices, proper management of atrial fibrillation has become a reality. It is expected that the global atrial fibrillation market would move along an ascending graph of revenue generation in the times to follow.
The entry of new pharmaceutical companies has elevated the bar of research in the domain of cardiology. Besides, the relentless efforts of the medical industry to find new treatment lines for atrial fibrillation has aided market growth.
On the basis of product type, the EP ablation catheters are expected to emerge as the most preferred product in the global atrial fibrillation market.
On the basis of end-user, the market is segmented into electrophysiology labs, hospitals, and ambulatory surgical center. Among these, hospitals are expected to be witness impressive growth during the forecast period 2017-2030.
By application, EP ablation is expected to witness the highest growth in the global atrial fibrillation market during the forecast period 2017-2030.
On the regional front, the global atrial fibrillation market covers North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Among these, Europe is projected to lead the global atrial fibrillation market over the forecast period. Significant rise in adoption of advanced technologies and development of advanced healthcare infrastructure and facilities are the key factors fueling growth in the Europe atrial fibrillation market. Germany has a higher role in this market, as various catheter ablation procedures are performed in this region. This factor has further strengthen position of Europe in the global atrial fibrillation market.
In the competitive landscape section, the global atrial fabrillation market is likely to witness higher degree of competition due to the presence of large number of players operating in this market. In this report, researchers have analyzed few leading players including Biosense Webster, Inc., Medtronic Plc, Abbott Laboratories, Osypka AG, Biotronik SE & Co. KG, Boston Scientific Corporation, AtriCure Inc., MicroPort Scientific Corporation, CardioFocus, Inc., and Koninklijke Philips N.V.
Rise in the Use of Less Invasive and Advanced Treatment for Atrial Fibrillation
Major hospitals and medical centers are using a less invasive procedure known as catheter ablation for treating atrial fibrillation. It also has facilitated quick recovery than the surgery. Meanwhile, the on-going research is also resulting in more options that can be used by doctors to perform catheter ablation. A recent study by the researchers at the Klinikum Coburg and the University of Utah Health also showed that radiofrequency catheter ablation lowered mortality rates in patients suffering from atrial fibrillation. Being a highly effective therapy, various additional features are being added to catheter ablation. For instance, new 3D mapping technology reduces fluoroscopy time and radiation dose for patients. Moreover, a new 3D catheter mapping technology allowing real-time device tracking in prerecorded fluoroscopy was also being used. However, new treatment options including FIRM ablation, convergent procedure, and watchman device have also been developed and were successful in minimizing the chances of atrial fibrillation. Increasing demand for minimally invasive procedures and better imaging is resulting in the manufacturers investing in research and development for introducing technologically advanced catheter ablation procedure. Meanwhile, increasing number of hospitals are also using a combination of both device and drugs to treat atrial fibrillation.
EP diagnostic catheters
EP ablation catheters
EP mapping & recording systems
By End User
ambulatory surgical center
and electrophysiology labs
By Application Type
Atrial fibrillation is an irregular heartbeat identified by the rapid and abnormal beating of the heart. The global market for atrial fibrillation is majorly driven by the rise in high blood pressure and valvular heart disease. Meanwhile, increasing prevalence of atrial fibrillation among the geriatric population is also fueling the growth of the market. Significant technological advancement is leading to the development of new monitoring technologies that can help patients as well as clinicians to keep a close watch and treat it on time. Smart, wireless, easy-to-use, cost-effective, and efficient monitoring systems are also being focused on to monitor the heartbeat. These developments present a major opportunity for key players operating in atrial fibrillation space.
Innovative technologies with the ability to target the causes of atrial fibrillation have led to the maximum success rate of treating the condition. The key market players are also entering into a partnership with research institutes and other companies to develop an efficient system to detect and treat atrial fibrillation.
The research is based on primary and secondary research, done for understanding the trends, drivers, opportunity, restraints, etc. The research is done to forecast the expected revenue of the global atrial fibrillation market. Primary research is based on the information collected from interviews and discussions with a number of industry experts and opinion leaders.
Secondary research includes the study of company websites, press releases, annual reports, investor and analyst presentation, and various other factors. The report also offers an estimated market size in terms of US$ Mn for product type, end-user, and application for the forecast period of 2017 to 2030. The report also takes into account the macro and micro factors that are affecting the market. The report also offers Porter’s five force analysis and SWOT analysis. An in-depth analysis of factors resulting in driving and restraining growth of the market and future opportunities has been provided in the report. The report also offers market attractiveness analysis that provides an analysis of the competitive scenario in the global atrial fibrillation market.
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