Atrial Fibrillation Market
Atrial Fibrillation Market (Product Type - EP Ablation Catheters, EP Diagnostic Catheters, EP Mapping & Recording Systems, Cardiac Monitors, Access Devices, LAA Closure, Other Products; End User - Hospitals, Electrophysiology Labs, Ambulatory Surgical Center; Application - Diagnostic, EP Ablation, Surgical) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026
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.
- Several pharmaceutical brands have invested in research related to cardiac disorders and diseases. Pfizer and Sanofi have led research lines related to diagnosis and management of atrial fibrillation. The efforts of these fortune brands have created stellar pathways for growth within the global atrial fibrillation market.
- The outbreak of the COVID-19 pandemic has created panic amongst people suffering from cardiac diseases and disorders. People suffering from co-morbidities such as atrial fibrillation are at a greater risk of medical damage if they contract the virus. Therefore, the global atrial fibrillation market is at an important juncture in its quest for market expansion.
- The overall growth of the healthcare industry is accelerated by advancements in cardiological treatments. Therefore, the healthcare sector is actively investing in technologies and devices used for diagnosing and treating atrial fibrillation. This is also a resilient factor contributing towards the growth of the global atrial fibrillation market.
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.
Atrial Fibrillation Market: Snapshot
Globally, the number of people affected by high blood pressure and large number of people are having valvular heart disease caused by rheumatic fever has resulted in atrial fibrillation. Growing incidence of obesity, hypertension, and diabetes has also resulted in different heart diseases leading the growth in the global atrial fibrillation. Moreover, increasing medical research and development activities and advancement seen in treatment and diagnoses of atrial fibrillation are also expected to expand the global atrial fibrillation market in the forthcoming years.
As per the data released in 2017 by the Centers for Disease Control and Prevention, 2.7–6.1 million individuals suffer from atrial fibrillation in the U.S. Increasing geriatric population is expected to add in the number in the coming years. Nearly 2% of the population under 65 years of age suffers from atrial fibrillation. Depending on these figures, there are high chances of growth in the global atrial filtration market.
Large number of geriatric population is a crucial factor that has surged growth in this market. Pertaining to these factors, the global atrial fibrillation market is likely to progress at 11.0% CAGR between 2017 and 2026. Rising at this rate, the market is expected to reach US$10.92 bn by the end of 2026.
Global Atrial Fibrillation Market: Overview
Atrial fibrillation is an irregular heartbeat identified by the rapid and abnormal beating of the heart. The global market for atrial fibrillation is majorly driven by the rise in high blood pressure and valvular heart disease. Meanwhile, increasing prevalence of atrial fibrillation among the geriatric population is also fueling the growth of the market. Significant technological advancement is leading to the development of new monitoring technologies that can help patients as well as clinicians to keep a close watch and treat it on time. Smart, wireless, easy-to-use, cost-effective, and efficient monitoring systems are also being focused on to monitor the heartbeat. These developments present a major opportunity for key players operating in atrial fibrillation space.
Innovative technologies with the ability to target the causes of atrial fibrillation have led to the maximum success rate of treating the condition. The key market players are also entering into a partnership with research institutes and other companies to develop an efficient system to detect and treat atrial fibrillation.
Global Atrial Fibrillation Market: Research Methodology
The research is based on primary and secondary research, done for understanding the trends, drivers, opportunity, restraints, etc. The research is done to forecast the expected revenue of the global atrial fibrillation market. Primary research is based on the information collected from interviews and discussions with a number of industry experts and opinion leaders.
Secondary research includes the study of company websites, press releases, annual reports, investor and analyst presentation, and various other factors. The report also offers an estimated market size in terms of US$ Mn for product type, end-user, and application for the forecast period of 2017 to 2026. 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.
Global Atrial Fibrillation Market: Segmentation
The global atrial fibrillation market is segmented on the basis of product type, end user, and application. Based on the product type, the market is segmented into EP diagnostic catheters, EP ablation catheters, cardiac monitors, EP mapping & recording systems, LAA closure, access devices, and other products. On the basis of end user, the market is segmented on the basis of hospitals, ambulatory surgical center, and electrophysiology labs. By application type, the market includes EP ablation, diagnostic, and surgical. The market growth rate for each segment within the global atrial fibrillation market has been provided after an in-depth research on past trends, future trends demographics, various regulatory requirements, and technological developments.
On the basis of region, the market is segmented on the basis of North America, Europe, Latin America, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). The forecast for each region has been provided for the year 2017-2026, on the basis of product type, end user, and application. The report also provides revenue share and CAGR in form of percentage for each segment.
Global Atrial Fibrillation Market: Competition Landscape
The report provides market share analysis of the key players in the global atrial fibrillation market. The report also offers in-depth information for new entrants and established players to expand geographically and also increase their revenue share. Some of the key players in the report include Biosense Webster, Inc., Abbott Laboratories, Medtronic Plc, Boston Scientific Corporation, MicroPort Scientific Corporation, Biotronik SE & Co. KG, Koninklijke Philips N.V., AtriCure Inc., CardioFocus, Inc., and Osypka AG.