Market Highlights
The global atrial
fibrillation market is estimated to account for USD 11123.8 million and
registering a CAGR of ~ 11.2 %. Atrial fibrillation is a disorder of the pace
or the rhythm of the heart. It is caused by unsystematic electrical activity in
the atria of the heart, which causes rapid stimulus of the ventricles, leading
to an irregular heartbeat. Numerous factors such as advancements in minimally
invasive surgeries to treat atrial fibrillation, appropriate and timely
intervention of the healthcare delivery systems, and increased incidence rates
of the risk factors are expected to drive the growth of the market during the
forecast period. According to the Centers for Disease Control and Prevention,
Atrial fibrillation (AFib) costs the United States about USD 6 billion
annually. Medical costs for people who have AFib are about USD 8,705 higher per
year than for people who do not have AFib. Therefore, the ability of the
specialist to suspect and diagnose the condition is very important. The lack of
technical knowledge and misdiagnosis and mismanagement of the condition may
hamper the market growth.
The global atrial fibrillation market is currently
dominated by many market players. The key players in the market are engaged in
new product launches and strategic collaborations to strengthen its market
position. For instance, in January 2017, Abbott completed the acquisition of
St. Jude Medical, Inc. St. Jude Medical's strong positions in fast-growing
areas such as atrial fibrillation, heart failure, structural heart and chronic
pain balance Abbott's leading positions in coronary interventions and mitral
valve disease and will further create a strong and diverse product portfolio.
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Regional Analysis
The market in the Americas is expected to dominate the
global atrial fibrillation market during the forecast period due to the
escalation in the adoption of advanced technologies and procedures for the
treatment of atrial fibrillation, and well-developed healthcare infrastructure.
According to the Centers for Disease Control and Prevention in 2017, an
estimated 2.7–6.1 million people in the United States have atrial fibrillation
(AFib). The European market is expected to be the second-largest due to government
funding and support of the healthcare sector. Also, many companies are setting
up their research and development centers in this region, which will boost the
market growth in this region. Moreover, the market in Asia-Pacific is
anticipated to be the fastest-growing during the assessment period owing to
growing disposable income, and huge population susceptible to cardiovascular
diseases. The market in the Middle East & Africa is likely to account for
the smallest share of the global atrial fibrillation market.
Segmentation
The global atrial fibrillation market has been segmented
into type, treatment, and end-user.
The market, on the basis of type, has been segmented into
paroxysmal atrial fibrillation, persistent atrial fibrillation, and permanent
atrial fibrillation.
The permanent type of atrial fibrillation is anticipated
to hold the largest share as it is the most common type of AFib with a high
occurrence rate. The persistent atrial fibrillation segment is estimated to be
the fastest growing owing to increased recurrence rates in patients.
The market, on the basis of treatment, has been segmented
into medications, non-surgical procedures, and surgical procedures.
The market, based on medications, has been segmented
blood thinners, rate controllers, and rhythm controllers.
The market, based on non-surgical procedures, has been
segmented into electrical cardioversion and catheter ablation.
The market, based on surgical procedures, has been
segmented into pacemaker implantation and open-heart maze procedure.
Key Players
Some of the key players in the global atrial fibrillation market are Medtronic Plc, Johnson & Johnson Services, Inc., Abbott, Boston Scientific Corporation, MicroPort Scientific Corporation, Biotronik SE & Co. KG, Koninklijke Philips N.V., AtriCure, Inc., CardioFocus, Osypka AG, Siemens AG, Biosense Webster, Inc., Sichuan Jinjiang Electronic Science and Technology Co., Ltd., CathRx Ltd., and Vanguard AG.
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