Recurrent Atrial Fibrillation Market Growth – at a CAGR of 13.2% by 2028
Rising prevalence of heart disease across the globe and increasing focus on development of personalized drugs & therapeutics are among the key factors driving the global Recurrent Atrial Fibrillation market revenue growth.
Emergen Research has published its latest report titled “Recurrent Atrial Fibrillation Market, By Product Type (Devices, Drugs), By Application (EP Ablation, Diagnostics, Cardiac Surgery), By End-use (Hospitals, Ambulatory Surgical Centers, Cardiac Centers), and By Region Forecast to 2028”
According to Emergen Research, the global recurrent atrial fibrillation market size was USD 10.76 billion in 2020 and is expected to reach USD 29.35 billion in 2028 and register a revenue CAGR of 13.2% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global recurrent atrial fibrillation market is attributed to factors such as rapidly growing geriatric population, rising prevalence of cardiovascular diseases such as stroke, heart failure, and atrial fibrillation worldwide, increasing cases of recurrent atrial fibrillation, and rising burden of chronic disorders such as sleep apnea, hypertension, stress, obesity, thyroid disorders, and lung disease. Rising focus on development of personalized drugs & therapeutics for treatment of atrial fibrillation, launch of new and more advanced treatment options, technological advancements in devices for atrial fibrillation (Afib), and increasing availability of better reimbursement plans & policies for recurrent Afib medications are some of the other major factors expected to drive the global recurrent atrial fibrillation market revenue growth over the forecast period.
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In addition, factors such as rising caseload of the novel coronavirus infection around the globe, growing susceptibility of patients infected with COVID-19 to atrial fibrillation and cardiac arrhythmia, increasing awareness of early diagnosis and treatment of heart disease, and increasing volumes of diagnostic tests including EKG and ECG further drive the global market growth. According to a study by the CDC, over 6.1 million people in the U.S. are currently affected by Afib, and the figure is expected to surpass 12.1 million by 2030.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Devices Segment Accounted for Largest Revenue Share in 2020:
Based on product type, the devices segment dominated other segments in terms of revenue share in the global recurrent atrial fibrillation market in 2020. Growing prevalence of cardiovascular diseases such as stroke, atrial fibrillation, and cardiac arrhythmia, rising need for more advanced treatment options for atrial fibrillation, increasing volumes of cardiac surgeries, and increasing usage of advanced Afib devices, such as electrophysiology (EP) ablation catheters, EP diagnostic catheters, laser-based catheter ablation devices, and intracardiac echocardiography (ICE) systems, are key factors driving this segment’s revenue growth.
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EP Ablation Segment to Account for Fastest Revenue CAGR:
Based on application, the global recurrent atrial fibrillation market is segmented into EP ablation, diagnostics, and cardiac surgery. The EP ablation segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Electrophysiology ablation is a procedure that assesses the electrical activity of the heart and helps in the treatment of cardiac arrhythmia, atrial fibrillation, and other heart diseases. Increasing use of EP ablation devices and technological advances in atrial fibrillation treatment devices are major factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America recurrent atrial fibrillation market led in terms of largest revenue share in the global market in 2020. Some of the major factors boosting the North America market revenue growth are growing prevalence of cardiovascular diseases, increasing incidences of recurrent Afib, rapid adoption of personalized Afib drugs & therapeutics, development of highly advanced, software-based ECG monitoring devices for improved treatment of recurrent AFib patients, and presence of avant-garde healthcare infrastructure in the region.
Major Companies in the Global Recurrent Atrial Fibrillation Market Include:
- GlaxoSmithKline
- Johnson & Johnson
- Abbott Laboratories
- St. Jude Medical, Inc.
- Atricure Inc.
- Boston Scientific Corporation
- Medtronic Plc
- Boehringer Ingelheim
- Siemens AG
- Daiichi Sankyo
- Koninklijke Philips N.V.
- AstraZeneca
- Bristol-Myers Squibb Inc.
- Microport Scientific Corporation
For the purpose of this report, Emergen Research has segmented the global recurrent atrial fibrillation market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Devices
- Surgical Devices
- Maze Surgery
- Catheter Ablation
- Radiofrequency Catheter Ablation
- Conventional RF Ablation Catheters
- Irrigated-tip RF Ablation Catheters
- Cryoablation
- Microwave-based Catheter Ablation
- Laser-based Catheter Ablation
- Navigational Advanced Mapping Accessories
- Non-surgical Devices
- Electric Cardioversion
- EP Ablation Catheters
- EP Diagnostic Catheter
- Conventional Diagnostic Catheters
- Fixed Diagnostic Catheters
- Steerable Diagnostic Catheters
- Advanced Diagnostic Catheters
- Mapping and Recording Systems
- Cardiac Monitors or Loop Recorders
- Access Devices
- Left Atrial Appendage and Closure Devices
- Intracardiac Echocardiography (ICE) Systems
- Drugs
- Dabigatran (Pradaxa)
- Rivaroxaban (Xarelto)
- Apixaban (Eliquis)
- Edoxaban (Savaysa)
- Warfarin (Coumadin)
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- EP Ablation
- Diagnostics
- Cardiac Surgery
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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