Published: Dec, 2016
Players such as St. Jude Medical, Inc., Johnson & Johnson Ltd., and Bristol-Myers Squibb Corp., have consistently led the global atrial fibrillation market over the recent past. While the number of incoming innovations and pipeline treatment approvals will create a greater scope of growth for market players, the highly stringent regulations are expected to deter a sizeable number of new entrants.
According to a research report released by Transparency Market Research, the global atrial fibrillation market is expected to progress at an excellent CAGR from 2016 to 2024. Its overall revenue is expected to reach around US$14.8 bn by 2019. Pharmacological treatments have dominated the global atrial fibrillation market in terms of treatment types and are expected to continue leading the market in terms of demand growth rate and revenue generation.
Global Atrial Fibrillation Makers Sustained on North America Demand, Boosted by Growing APAC Demand
North America has consistently been the leading region in the global atrial fibrillation market in terms of both revenue generation as well as research and development efforts. This is likely to remain consistent and players that hold a solid presence in this region are expected to remain optimistic over the coming years. At the same time, the globally prominent manufacturers of atrial fibrillation devices are moving towards Asia Pacific in search of greater scope of opportunities. The same can be said for North American manufacturers looking to set base in Europe, where there is a similar rate of increase in demand. Owing to the growing number of people in need of atrial fibrillation in India and China, Asia Pacific is expected to register the lead in terms of growth rate within till 2024.
Growing Case Counts of Hypertension and Obesity Push Atrial Fibrillation Manufacture Rate
“The leading cause of growth in the global atrial fibrillation market at the moment is the growing number of patients with medical conditions such as hypertension and obesity. The prevalence of obesity is growing not just in developed economies; emerging economies are also falling prey to excessive food consumption, obesity, and diabetes. The resultant growth in the global number of patients is the top factor augmenting the demand for atrial fibrillation. Numerous health organizations across the world predict that these numbers will increase at greater speeds over time, thus putting extra pressure on manufacturers of associated treatments and medical devices,” states a TMR analyst.
There is, however, a restraint that a lot of players in the global atrial fibrillation market experience and that is the restrictive scope of movement offered by regulatory authorities. The European Medicines Agency, CE, and the U.S. FDA are some of the globally recognized bodies that formulate highly stringent regulatory frameworks for a large part of the industries of medical devices and pharmaceuticals, including the global atrial fibrillation market.
Pharmacological Treatments Found to be Highly Preferred
The global atrial fibrillation market is segmented into pharmacological and non-pharmacological treatments. The former has consistently been the leading treatment segment in the global atrial fibrillation market for the past few years. The key reason for the popularity of pharmacological treatments is the fact that patients prefer drug-based treatments over others. Even including the cases where patients have to undergo both treatment types simultaneously, the demand for drug treatments is far higher than other forms simply due to drugs being the cheaper alternative. Additionally, there is a greater chance of physical discomfort when undergoing non-pharmacological treatment, another factor that deters patients from it. Over the coming years, pharmacological treatments as a while are expected to gather more than half the total revenue generated in the global atrial fibrillation market.
The information presented in this review is based on a Transparency Market Research report, titled, “Atrial Fibrillation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024.”
Key segments of the Global Atrial Fibrillation Market
By Treatment Types
- Pharmacological Treatment
- Anti-Arrhythmic Drugs
- Anti-Coagulant Drugs
- Non-Pharmacological Treatment
- Catheter Ablation
- Radiofrequency Based
- Cryoablation Based
- HIFU (High Intensity Focused Ultrasound) Based
- Microwave Based
- Laser Based
- Maze Surgery
- Electric Cardioversion
- Catheter Ablation
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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