PUBLISHER: Mordor Intelligence | PRODUCT CODE: 927799
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 927799
The Cardiac Arrhythmia Therapeutics Market is expected to register a CAGR of 4.3% during the forecast period. Arrhythmia is defined as irregular or abnormal heartbeat. Arrhythmia is of two types bradycardia and tachycardia. When the heartbeat is too slow, less than 60 beats per minute, it is known as bradycardia and when it is too fast, more than 100 beats per minute, it is known as tachycardia. Some of the symptoms of arrhythmia are fast or slow heartbeat, sweating, shortness of breath, chest pain, skipping beats and dizziness. Coronary artery disease, high blood pressure, obesity/overweight, excessive use of alcohol, stress, high cholesterol, smoking are the factors which can increase the chance of developing arrhythmia.
The most common type of arrhythmia is atrial fibrillation, which causes an irregular and fast heartbeat. As per the study published in the Journal of Geriatric Cardiology, atrial fibrillation affects millions of people worldwide and left untreated which increases the risk and severity of heart failure, stroke, and death. Furthermore, atrial fibrillation (AF) is predicted to affect 17.9 million in Europe by the year 2060.
Increasing incidences of obesity, chronic diseases, rising consumption of alcohol and cigarettes, high stress, and unhealthy lifestyles, coupled with the growing awareness regarding early diagnosis of cardiovascular diseases are the key driving factors in cardiac arrhythmia therapeutics market.
North America is expected to hold a major market share in the global cardiac arrhythmia therapeutics market due to increasing geriatric population, high drug consumption & costs, and growing incidence of cardiac diseases. Centers for Disease Control and Prevention, estimates approximately 2.7 million and 6.1 million people in the United States have atrial fibrillation. In addition, in the year 2017, atrial fibrillation was responsible for 26,077 deaths in the United States. Furthermore, presence of top pharma and biotech companies, increasing healthcare spending and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Cardiac Arrhythmia Therapeutics Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Mylan N.V., Teva Pharmaceutical Industries Ltd, Pfizer Inc, Sanofi S.A, Upsher-Smith Laboratories, LLC, Covis Pharma, Novartis AG, Mayne Pharma Group Limited and Eli Lilly and Company.