Global Atrial Fibrillation Market, By Product (Surgical Devices, Non-Surgical Devices, Pharmacological Drugs), Type (Paroxysmal, Others), End User (Hospitals, Electrophysiology Labs, Ambulatory Surgical Centers) – Industry Trends and Forecast to 2029
Atrial Fibrillation Market Analysis and Size
The most common arrhythmia is atrial fibrillation, which happens when the heart's upper chambers (atria) receive irregular electrical impulses. As a result, the beat becomes irregular and rapid. A heart rate of 100 to 175 beats per minute can be caused by atrial fibrillation. Atrial fibrillation causes confusion, dizziness, tiredness, and fainting. Other factors that enhance the incidence of AF include the increased global prevalence of obesity and cardiac disorders, in addition to COVID-19's recent development and influence on AF.
Data Bridge Market Research analyses a growth rate in the global atrial fibrillation market in the forecast period 2022-2029. The expected CAGR of global atrial fibrillation market is tend to be around 12.0% in the mentioned forecast period. The market was valued at USD 2044.95 million in 2021, and it would grow upto USD 5063.22 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Atrial Fibrillation Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Surgical Devices, Non-Surgical Devices, Pharmacological Drugs), Type (Paroxysmal, Others), End User (Hospitals, Electrophysiology Labs, Ambulatory Surgical Centers)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Abbott (US), Johnson & Johnson Private Limited (U.S.), MicroPort Scientific Corporation. (China), Boston Scientific Corporation (US)., Medtronic (US), BIOTRONIK SE & Co. KG (US), Koninklijke Philips N.V. (Netherlands), Siemens (US), AtriCure, Inc (US), Sanofi (US), Biosense Webster, Inc (US), CardioFocus. (US), BRISTOL-MYERS SQUIBB COMPANY (US), Boehringer Ingelheim International GmbH. (US), GENERAL ELECTRIC COMPANY (US), Pfizer Inc. (US)
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Market Opportunities
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Market Definition
Atrial Fibrillation (AF) is the most common type of arrhythmia that leads to an irregular and fast heart rhythm. Since last two decades, prevalence of atrial fibrillation cases is seen higher across the globe. According to American Heart Association, almost 33.5 million people were suffering from atrial fibrillation around the world in 2013. Furthermore, approximately 200,000 to 400,000 new atrial fibrillation cases are diagnosed every year in the U.S. This rise in the number of AF cases are prompting the growth of the market.
Global Atrial Fibrillation Market Dynamics
Drivers
- Increase in Elderly Population
The expansion of the atrial fibrillation market is prompted by rise in the frequency of atrial fibrillation in the elderly population, technical developments, and a preference for catheter ablation for cardiac arrhythmia therapy. Thus, it is helpful in driving the market growth.
- Increase in Developed Treatments
Catheter ablation is a technique used to treat irregular cardiac rhythms when medicines are ineffective. It is a low-risk, minimally invasive method for the treatment of cardiac arrhythmias. The catheter ablation technology removes abnormal cardiac tissues that cause irregular heartbeats. In the treatment of cardiac arrhythmias, catheter ablation has a 95.0 percent success rate.
Opportunities
- Rise in Cardiac Monitors
The surgical segment generated the most revenue in 2020 due to an increase in the adoption of cardiac monitoring systems during the treatment of atrial fibrillation. The rise in the number of patients suffering from arrhythmia or an irregular heartbeat has resulted in an increase in the demand for cardiac monitors.
- Advanced Technology
Development in technology is pushing the market growth of atrial fibrillation. Advanced catheter ablation for the treatment of atrial fibrillation and lowering the risk of stroke in patients is manufactured by important players. For instance, Abbott Laboratories, a maker of healthcare products and medical devices, developed the TactiFlex PAF IDE ablation catheter in August 2020, which is used to treat patients with paroxysmal atrial fibrillation, an irregular heartbeat. It features sensors for patients who have symptoms of atrial fibrillation (AFib) that can't be addressed with medication.
Restraints/Challenges
- High Costs
This technology is definitely helping in outgrowing the market size but one factor that is limiting the growth is the excessive high price of the treatment process. It is costly and thus it is not applicable everytime to use it tremendously.
This atrial fibrillation market provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the atrial fibrillation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Atrial Fibrillation Market
Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period.
COVID-19 epidemic delayed production of numerous atrial fibrillation products. Furthermore, with the launch of the COVID-19 vaccine on the market, the number of COVID-19 cases is predicted to decrease in the future. As a result, companies that specialise in atrial fibrillation have reopened at full capacity. By the beginning of 2022, it is predicted to expand and recover the atrial fibrillation market share. Following the drop in COVID-19 infection cases, equipment and machinery manufacturers must focus on protecting their employees, operations, and supply networks in order to respond to urgent emergencies and build new working procedures.
Global Atrial Fibrillation Market Scope
The global atrial fibrillation market is segmented on the basis of product, type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Surgical Devices
- Non-Surgical Devices
- Pharmacological Drugs
Type
- Paroxysmal
- Others
End User
- Hospitals
- Electrophysiology Labs
- Ambulatory Surgical Centers
Atrial Fibrillation Market Regional Analysis/Insights
The global atrial fibrillation market is analyzed and market size insights and trends are provided by type, product, and end user as referenced above.
The major countries covered in the atrial fibrillation market are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the atrial fibrillation market due to the rapidly rising number of healthcare expenditure along with prevalence of improved infrastructure.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the growing number of geriatric population and rising disposable income of the people.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Atrial Fibrillation Market Share Analysis
The atrial fibrillation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to atrial fibrillation market.
Key players operating in the global atrial fibrillation market include:
- Abbott (US)
- Johnson & Johnson Private Limited (U.S.)
- MicroPort Scientific Corporation. (China)
- Boston Scientific Corporation (US).
- Medtronic (US)
- BIOTRONIK SE & Co. KG (US)
- Koninklijke Philips N.V. (Netherlands)
- Siemens (US)
- AtriCure, Inc (US)
- Sanofi (US)
- Biosense Webster, Inc (US)
- CardioFocus. (US)
- BRISTOL-MYERS SQUIBB COMPANY (US)
- Boehringer Ingelheim International GmbH. (US)
- GENERAL ELECTRIC COMPANY (US)
- Pfizer Inc. (US)
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