PUBLISHER: Allied Market Research | PRODUCT CODE: 1090835
PUBLISHER: Allied Market Research | PRODUCT CODE: 1090835
The atrial fibrillation market size was valued at $1,825.8 million in 2020, and is projected to reach $3,370.7 million by 2030, registering a CAGR of 6.4% from 2021 to 2030. Atrioventricular fibrillation (AFib) is a disorder, in which the heart's upper chambers (atria) beat quickly and erratically (fibrillate). Blood can accumulate and clot in the left atrial appendage of the heart as a result of AFib. A stroke can occur when a blood-clot escapes from the left atrial appendage (LAA) and transfers to another parts or organs of the body. Atrial fibrillation can increase the risk of heart stroke, induce chest discomfort, or even trigger a heart attack, especially if the heart beat is extremely rapid, and can produce blood clots in the heart that spread to other organs.
The global atrial fibrillation market is expanding along with the increase in the ageing population. In addition, high blood pressure, obesity, and diabetes result in the increase in occurrence of atrial fibrillation in the geriatric population. According to the Centers for Disease Control and Prevention (CDC) estimates of the prevalence of AFib in the U.S. ranges from about 2.7 million to 6.1 million. That number is estimated to rise to 12.1 million in 2030. Such factors are expected to increase the demand for atrial fibrillation devices during the forecast period. Furthermore, technical advancements in surgical devices for atrial fibrillation propel the atrial fibrillation market forward. However, problems such as expensive atrial fibrillation treatment costs and costly medical devices are expected to hamper the market expansion.
Moreover, technological advancements force key players to introduce atrial fibrillation monitoring and devices in the medical and pharmaceutical sectors. For instance, in February 2020, Janssen Pharmaceutical Companies of Johnson & Johnson collaborated with Apple Inc. and introduced Heartline Monitor. It improves health outcomes, such as lowering the risk of stroke, by detecting atrial fibrillation (AFib) earlier.
The market is segmented on the basis of type, technology, end user and geography. On the basis of type, it is divided into surgical and non-surgical. On the basis of technology, it is divided into radiofrequency, laser, cryotherapy, and others. On the basis of end user, the market is segmented into hospitals, specialty clinics, and others. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the global atrial fibrillation market are Abbott Laboratories, Johnson & Johnson, MicroPort Scientific Corporation, Boston Scientific Corporation, Medtronic plc, Biotronik SE & Co. KG, Philips N.V., Siemens AG, AtriCure Inc., and CardioFocus, Inc.
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