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There are three types of atrial fibrillation based on the severity of the condition as mentioned below:
Some of the major causes of atrial fibrillation are high blood pressure, hyperthyroidism, pneumonia, pulmonary embolus, obesity, lung cancer, and excessive alcohol and caffeine consumption.
Statistics:
The global atrial fibrillation market is estimated to account for US$ 14,804.5 Mn in terms of value by the end of 2019.
Global Atrial Fibrillation Market: Drivers
Increasing adoption of closure devices for the treatment of atrial fibrillation is expected to propel growth of the global atrial fibrillation market over the forecast period. For instance, in August 2020, The Memorial Care Heart & Vascular Institute at Long Beach Medical Center, U.S. announced to offer the WATCHMAN Left Atrial Appendage Closure Device for patients with atrial fibrillation.
Global Atrial Fibrillation Market: Opportunities
R&D in atrial fibrillation is expected to offer lucrative growth opportunities for players in the global atrial fibrillation market. For instance, in June 2019, researchers at Baylor College of Medicine reported that loss of protein phosphatase 1 regulatory subunit ppp1r3a promotes atrial fibrillation, in the American Health Association (AHA) Journal, Circulation.
Global Atrial Fibrillation Market: Restraints
Recall of products is expected to hinder growth of the global atrial fibrillation market. For instance, in January 2019, Boston Scientific Corporation recalled Blazer Open-Irrigated Ablation Batch Catheter, owing to change in resin sub-suppliers three times without notifying BSC.
Key Takeaways:
The global atrial fibrillation market was valued at US$ 14,804.5 Mn in 2019 and is forecast to reach a value of US$ 40,601.7 Mn by 2027 at a CAGR of 13.4% between 2020 and 2027. Increasing adoption of closure devices for the treatment of atrial fibrillation is expected to propel growth of the global atrial fibrillation market over the forecast period.
Pharmacological segment held dominant position in the global atrial fibrillation market in 2019, accounting for xyz% share in terms of value, followed by segment 2 and segment 3, respectively. Increasing approval and launch of new devices and drugs is expected to assist the segment growth during the forecasted period
Market Trends
High prevalence of lung cancer is expected to propel growth of the global atrial fibrillation market over the forecast period. For instance, according to The American Cancer Society, in 2020, the U.S. is expected to witness around 228,820 new cases of lung cancer and around 135,720 deaths due to the disease.
Major players in the global atrial fibrillation market are focused on R&D to expand their product portfolio. For instance, in August 2020, Abbott Laboratories announced first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation.
Global Atrial Fibrillation Market: Competitive Landscape
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, St. Jude Medical, Inc., Johnson and Johnson Ltd., and Abbott Laboratories.
Global Atrial Fibrillation Market: Key Developments
Major players in the global atrial fibrillation market are focused on R&D to expand their product portfolio. For instance, in May 2020, Fitbit launched the Fitbit Heart Study, its first large-scale, virtual study to validate the use of its wearable technology to identify episodes of irregular heart rhythm suggestive of atrial fibrillation.
Segmentation
Scope of the report
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