Atrial Fibrillation Market Size to Reach USD 2.11 Billion in 2028, Noted Reports and Data
Increasing prevalence of atrial fibrillation, advancements in AFib prediction and management, and improved precision in diagnosis of this condition are some key factors expected to drive market growth
Market Size – USD 1.29 Billion in 2020, Market Growth – at a CAGR of 6.4%, Market Trends – Development of targeted prevention programs and growing awareness regarding AFib
The global atrial fibrillation market size is expected to reach USD 2.11 Billion in 2028 at a CAGR of 6.4% during the forecast period, according to the latest report by Reports and Data. Rising global prevalence of atrial fibrillation, advancements in research to identify modifiable AFib risk factors, and growing focus in targeted prevention programs to manage atrial fibrillation at early stages are key factors expected to drive market revenue growth over the forecast period. In addition, awareness about atrial fibrillation is rising and its detection is been improving significantly over the recent past, and this is leading to development of robust treatment strategies to reduce mortality and morbidity associated with this condition. This is another key factor expected to significantly drive revenue growth of the market going ahead.
Atrial fibrillation is the most commonly detected arrhythmia in modern clinical practice and is responsible for nearly 30% of the hospital admissions related to cardiac rhythm problems. Global prevalence of atrial fibrillation is significantly rising and burden of the disease appears to increase in parallel, and higher rates of atrial fibrillation-related hospital admissions. Atrial fibrillation leads to a turbulent or abnormal blood flow through heart chambers and loss of effective atrial contraction leads to 15-20% reduction in cardiac output. Obesity, obstructive sleep apnea, hypertension, genetic predisposition, and valvular heart disease are some of the major risk factors with atrial fibrillation. The condition is associated with a significant increase in long-term risk of stroke, heart failure, and impaired quality of life, and is leading to growing need for more advanced and novel approach to management and in turn is increasing focus on preventing from risk factors for atrial fibrillation along with adjuvant drug therapy. Recent advancements in medical technology is resulting in greater understanding of atrial fibrillation and mechanism of its onset and this is expected to further drive revenue growth of the market over the forecast period.
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Atrial fibrillation is categorized into three primary forms based on duration of the episode and this includes paroxysmal AF, persistent AF, and long standing persistent AF. It is important to identify and determine the clinical significance of arrhythmia before the atrial fibrillation is to be treated. In addition, AFib technique is evolving rapidly with development of percutaneous and surgical interventional therapies as safe and viable alternatives to restore normal cardiac rhythm. Minimally invasive surgical modifications and advent of hybrid ablation are further revolutionizing development of stand-alone procedures to cure atrial fibrillation with reduced morbidity. This is expected to drive revenue growth of the market going ahead. However, lack of awareness and alertness among patients about atrial fibrillation, unavailability of advanced healthcare facilities, and shortage of skilled professionals are some key factors that could restrain market growth to a certain extent going ahead.
Some Key Highlights from the Report:
- Catheter ablation to treat atrial fibrillation is been widely used as an alternative to medical management and is an effective treatment option in patients having persistent AFib and systolic dysfunction. Catheter ablation is an effective option to improve survival in patients with ventricular dysfunction, improves quality of life, and reduces arrhythmia-related hospital admissions. This is leading to increasing preference of electrophysiology and cardiac ablation for treatment of atrial fibrillation and is expected to drive revenue growth of the segment.
- Ambulatory surgical centers segment revenue is expected to expand at a significant CAGR over the forecast period attributable to increasing preference for same-day surgical care, accessibility to cost-effective surgical procedures, and availability of convenient alternative to hospital-based outpatient settings.
- Asia Pacific is expected to register a robust revenue CAGR over the forecast period attributable to increasing incidence of atrial fibrillation among geriatric population, availability of advanced medical devices and equipment and skilled professionals, rising investment to accelerate R&D activities, development of robust atrial fibrillation medical management plans, and growing adoption of atrial fibrillation treatment devices.
- Major companies profiled in the global market report include Abbott Laboratories, Atricure Inc., Johnson & Johnson, Microport Scientific Corporation, Boston Scientific Corporation, Biosense Webster, Inc., St. Jude medical, Inc., Siemens AG, Medtronic Plc, Koninklijke Philips N.V., Cardiofocus, Inc., Biotitic Se & Co. Kg, Inc., Carima, Inc., Ncontact, Inc., and Agricore, Inc.
- In October 2021, Ascension Sacred Heart Bay, which is an acute care hospital based in Florida, U.S., introduced a novel procedure to treat patients with cardiac issues with a small implantable device. The procedure can significantly minimize the risk of stroke in patients with atrial fibrillation that is generally not caused due to valve problems.
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For the purpose of this report, Reports and Data has segmented the global atrial fibrillation market based on type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- EP Ablation Catheters
- Cardiac Monitors
- EP Diagnostic Catheter
- Mapping and Recording Systems
- Access Devices
- Intracardiac Echocardiography
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Cardiac Centers
- Ambulatory Care Centers
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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