Pune, India, October 2022/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global atrial fibrillation market.
The Atrial Fibrillation Market is projected to reach USD 3.59 Billion by 2030 at 13.30% CAGR during the forecast period 2023-2030. Atrial fibrillation is a disorder of the pace or the rhythm of the heart. It is caused by unsystematic electrical activity in the atria of the heart, which causes rapid stimulus of the ventricles, leading to an irregular heartbeat. Numerous factors such as advancements in minimally invasive surgeries to treat atrial fibrillation, appropriate and timely intervention of the healthcare delivery systems, and increased incidence rates of the risk factors are expected to drive the growth of the market during the forecast period. According to the Centers for Disease Control and Prevention, Atrial fibrillation (AFib) costs the United States about USD 6 billion annually. Medical costs for people who have AFib are about USD 8,705 higher per year than for people who do not have AFib. Therefore, the ability of the specialist to suspect and diagnose the condition is very important. The lack of technical knowledge and misdiagnosis and mismanagement of the condition may hamper the market growth.
The global atrial fibrillation market is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in January 2017, Abbott completed the acquisition of St. Jude Medical, Inc. St. Jude Medical's strong positions in fast-growing areas such as atrial fibrillation, heart failure, structural heart and chronic pain balance Abbott's leading positions in coronary interventions and mitral valve disease and will further create a strong and diverse product portfolio.
Some of the key players in the global atrial fibrillation market are Medtronic Plc, Johnson & Johnson Services, Inc., Abbott, Boston Scientific Corporation, MicroPort Scientific Corporation, Biotronik SE & Co. KG, Koninklijke Philips N.V., AtriCure, Inc., CardioFocus, Osypka AG, Siemens AG, Biosense Webster, Inc., Sichuan Jinjiang Electronic Science and Technology Co., Ltd., CathRx Ltd., and Vanguard AG.
The global atrial fibrillation market has been segmented into type, treatment, and end-user.
The market, on the basis of type, has been segmented into paroxysmal atrial fibrillation, persistent atrial fibrillation, and permanent atrial fibrillation.
The permanent type of atrial fibrillation is anticipated to hold the largest share as it is the most common type of AFib with a high occurrence rate. The persistent atrial fibrillation segment is estimated to be the fastest growing owing to increased recurrence rates in patients.
The market, on the basis of treatment, has been segmented into medications, non-surgical procedures, and surgical procedures.
The market, based on medications, has been segmented blood thinners, rate controllers, and rhythm controllers.
The market, based on non-surgical procedures, has been segmented into electrical cardioversion and catheter ablation.
The market, based on surgical procedures, has been segmented into pacemaker implantation and open-heart maze procedure.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Atrial Fibrillation Systems Market Research Report
The market in the Americas is expected to dominate the global atrial fibrillation market during the forecast period due to the escalation in the adoption of advanced technologies and procedures for the treatment of atrial fibrillation, and well-developed healthcare infrastructure. According to the Centers for Disease Control and Prevention in 2017, an estimated 2.7–6.1 million people in the United States have atrial fibrillation (AFib). The European market is expected to be the second-largest due to government funding and support of the healthcare sector. Also, many companies are setting up their research and development centers in this region, which will boost the market growth in this region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to growing disposable income, and huge population susceptible to cardiovascular diseases. The market in the Middle East & Africa is likely to account for the smallest share of the global atrial fibrillation market.