Recurrent Atrial Fibrillation Market Size to Reach USD 25.93 Billion by 2027 Growing at a CAGR of 13.2% | Industry Trend – Advancements in Device Technology
The global Recurrent Atrial Fibrillation Market is expected to reach USD 25.93 Billion by 2027, according to a new report by Emergen Research. The increasing incidence of recurrent atrial fibrillation is majorly associated with recurrent paroxysmal atrial fibrillation patients, with the occurrence of a family history of AFib, high blood pressure, sleep apnea, overuse of stimulants, alcohol consumption, obesity, thyroid disorders, diabetes, lung disease, severe infections, and stress.
Factors driving this market include augmenting incidence rate of recurrent atrial fibrillation, new product launches for effective treatment of recurrent events, and improved reimbursement scenarios for recurrent AFib treatment drugs along with technological advancements are expected to become the most common growth factors globally in the coming years. Moreover, healthcare experts from the University of Pennsylvania have estimated that patients admitted to intensive care units for COVID-19 treatment are more likely to suffer from arrhythmia and atrial fibrillation. This would be alarming for cardiac patients and would lead to increased sales of atrial fibrillation associated drugs.
Key Highlights from the Report:
- According to a statistical report by CDC, the prevalence rate of AFib falls in the range of 2.7 million and 6.1 million in the U.S. alone and is forecast to cross 12.1 million by 2030. Similarly, rising incidences are estimated from other regions in the world, indicating a lucrative growth in the industry.
- The Device type sub-segment is predicted to be valued at USD 5.88 billion by 2027, expanding at a CAGR of 14% throughout the projected years. The segment is predominantly driven by catheter ablation and the need to have increasingly efficient devices to treat atrial fibrillation.
- Electrophysiology assesses the heart's electrical activity, and catheter ablation is used to treat arrhythmia of particular types. Electrophysiology is generally considered the most efficient method for recurrent atrial fibrillation episodes after the patient's body does not respond to drugs.
- Atrial fibrillation diagnosis covers screening as routine care in senior patients and patients with other comorbidities. EKG and ECG are also included in diagnostic testing. The emergence of advanced software-based ECG monitoring devices is projected to improve the treatment quality for recurrent AFib patients, thereby driving the market growth.
- North America is the dominant region in the global market, with a revenue contribution of USD 4.04 billion in 2019 accredited to the increasing caseload of recurrent AFib in the U.S. and Canada. North American market occupies a significant share of the market is expected to expand at a CAGR of 13.1% throughout the estimated timeframe.
- Major companies operating in the industry 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, and Microport Scientific Corporation.
- In January 2019, the U.S. FDA accepted Abbott Laboratories' TactiCath Touch Force Ablation Catheter.
- In August 2020, Abbott Laboratories commenced its R&D initiative, TactiFlex PAF IDE, to assess a novel device to treat patients with paroxysmal atrial fibrillation (PAF). The research is conducted to understand the efficiency of TactiFlexTM Ablation Catheter, Sensor EnabledTM in patients whose atrial fibrillation cannot be regulated by medications.
- In December 2019, the generic version of blood thinner, Eliquis, was approved by the U.S. FDA. The drug is approved with the intent to provide high-quality treatment alternatives to recurrent AFib patients to reduce the risk of recurrence at affordable prices.
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For the purpose of this report, Emergen Research has segmented the global Recurrent Atrial Fibrillation Market on the basis of product, application, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Surgical Devices
- Catheter Ablation
- Maze Surgery
- Radiofrequency Catheter Ablation
- Irrigated-tip RF Ablation Catheters
- Conventional RF Ablation Catheters
- Laser-Based Catheter Ablation
- Navigational Advanced Mapping Accessories
- Microwave Based Catheter Ablation
- Non-Surgical Devices
- EP Diagnostic Catheter
- EP Ablation Catheters
- Electric Cardioversion
- Conventional Diagnostic Catheters
- Steerable Diagnostic Catheters
- Fixed Diagnostic Catheters
- Cardiac Monitors or Loop Recorders
- Mapping and Recording Systems
- Advanced Diagnostic Catheters
- Left Atrial Appendage and Closure Devices
- Access Devices
- Intracardiac Echocardiography (ICE) Systems
- Surgical Devices
- Rivaroxaban (Xarelto)
- Dabigatran (Pradaxa)
- Edoxaban (Savaysa)
- Apixaban (Eliquis)
- Warfarin (Coumadin)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Surgical Cardiac
- EP Ablation
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Care Centers
- Cardiac Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Reasons to buy the report:
- This study segments the Recurrent Atrial Fibrillatio market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Recurrent Atrial Fibrillatio sectors.
- This Recurrent Atrial Fibrillatio report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Recurrent Atrial Fibrillatio market.
Key features of the report:
- To study the key aspects impacting the Recurrent Atrial Fibrillatio market size.
- To identify growth prospects in the Recurrent Atrial Fibrillatio market.
- To analyze the Recurrent Atrial Fibrillatio market segments and deduce the dominant trends observed in the industry.
- To examine the Recurrent Atrial Fibrillatio market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Recurrent Atrial Fibrillatio market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Recurrent Atrial Fibrillation Market Segmentation & Impact Analysis
4.1. Recurrent Atrial Fibrillation Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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