Atrial fibrillation market

Q: Which is the leading end user segment in the market?

Hospitals is the leading end user segment in the market. Read more

Atrial Fibrillation Market, by Procedure (Pharmacological (Anti-arrhythmic and Anti-coagulant), Non-Pharmacological (Catheter Ablation Procedures, Maze surgery and Electric Cardioversion), by Technology (Radiofrequency, Laser, Cryotherapy and Others), by End User Hospitals, Speciality, Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Oct 2022
CMI205
140 Pages
Excel & Pdf
Medical Devices

Summary

When atrial fibrillation occurs, the atria, the upper chambers of the heart that should beat in rhythm with the ventricles, instead beat irregularly and inconsistently. Many persons with A-fib may not experience any symptoms. However, A-fib may result in palpitations, a quick, pounding heartbeat, shortness of breath, or weakness. Atrial fibrillation episodes can be intermittent or recurrent. Even though A-fib is typically not a life-threatening condition, it is a significant medical issue that needs to be treated properly to avoid stroke. Medication, therapy to correct the heart rhythm, and catheter operations to obstruct incorrect heart signals are all possible forms of treatment for atrial fibrillation.

Global atrial fibrillation market is estimated to be valued at US$ 21,042.7 million in 2022 and is expected to exhibit a CAGR of 13.4% during the forecast period (2022-2030).

Figure 1. Global Atrial Fibrillation Market Share (%), by End User, 2022

Increasing prevalence of atrial fibrillation is expected to drive the growth of the global atrial fibrillation market over the forecast period.

Increasing prevalence of atrial fibrillation is expected to drive the growth of the global atrial fibrillation market over the forecast period. For instance, according to the data published on July 2022, on Centers for Disease Control and Prevention (CDC), stated that more than 454,000 hospitalizations with atrial fibrillation as the primary diagnosis happen each year in the United States.The condition contributes to about 158,000 deaths each year in U.S.

Figure 2. Global Atrial Fibrillation Market Share (%), by Region, 2022

Increasing approval of products is expected to drive the market growth over the forecast period.

Increasing approval of products is expected to drive the market growth over the forecast period. For instance, in August 2021, Abbott, which is a U.S.-based multinational medical devices and health care company announced that the U.S. Food and Drug Administration (FDA) approved the company's Amplatzer, Left Atrial Appendage Occluder to treat people with atrial fibrillation (AFib) who are at risk of ischemic stroke. The device offers immediate closure of the left atrial appendage (LAA) – an area where blood clots can form in people suffering from AFib – reducing their risk of stroke and immediately eliminating the need for blood-thinning medication.

Global Atrial Fibrillation Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs, medical devices and vaccines from one place to another.

Atrial Fibrillation Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 21,042.7 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	13.4%	2030 Value Projection:	US$ 57,729.0 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Procedure: Pharmacological (Anti-arrhythmic, Anti-coagulant), Non-Pharmacological (Catheter Ablation Procedures, Maze surgery, Electric Cardioversion) By Technology: Radiofrequency, Laser, Cryotherapy, Others By End User: Hospitals, Speciality Clinics, Others
Companies covered:	AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Johnson and Johnson Ltd., and Abbott Laboratories.
Growth Drivers:	Increasing prevalence of atrial fibrillation Increase in product launch
Restraints & Challenges:	Product recall

Global Atrial Fibrillation Market: Key Developments

IOn August 24, 2022, physIQ, which uses wearable biosensor data to generate personalized, clinically valid, actionable insights announced a strategic collaboration with InCarda Therapeutics, Inc., and a privately-held, clinical-stage biopharmaceutical company developed inhaled therapies for cardiovascular diseases. This collaboration will to accelerate Phase III Study in patients with atrial fibrillation.

On August 30, 2022, Medtronic plc, which is an U.S. medical device company technology, announced that it has completed the acquisition of Affera, Inc., which is medical technology company .This acquisition expands the Medtronic plc company's cardiac ablation portfolio to include its first-ever cardiac mapping and navigation platform that encompasses a differentiated, fully integrated diagnostic, focal pulsed field and radiofrequency ablation solution.

Global Atrial Fibrillation Market: Restraint

The major factors that hinder growth of the global atrial fibrillation market include products recall. For instance, in February 2019, Medtronic Plc received U.S. Food and Drug Administration (FDA) product recall for implanted cardiac pacemakers, which affected 13,440 devices manufactured and distributed between March 2017 and January 2019.

Key Players

Major players operating in the global atrial fibrillation market include AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Johnson and Johnson Ltd., and Abbott Laboratories.

Table of Content

Table of Contents

*Browse 77 market data tables and 33 figures on “Global Atrial Fibrillation Market” - Global forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global atrial fibrillation market during the forecast period (2022-2030)?

Global atrial fibrillation market size is estimated to be valued at US$ 21,042.7 million in 2022 and is expected to exhibit a CAGR of 13.4% between 2022 and 2030.

What are the major factors driving the market growth?

Factors such as increasing prevalence of atrial fibrillation and increase in product launch are expected to drive the market growth.

Which is the leading end user segment in the market?

Hospitals is the leading end user segment in the market.

What are the key factors hampering growth of the market?

The major factors hampering growth of the market include product recall.

Which are the major players operating in the market?

Major players operating in the market include AtriCure, Inc., Biosense Webster, Inc., Boehringer Ingelheim GmbH, Boston Scientific Corporation, Bristol-Myers Squibb Corporation, CardioFocus, Inc., Endoscopic Technologies, Inc., Sanofi Aventis, Johnson and Johnson Ltd., and Abbott Laboratories