The global atrial fibrillation market size is expected to reach USD 2.11 Billion in 2028 at a CAGR of 6.4% during the forecast period, according to the latest report by Reports and Data. Increasing global prevalence of Atrial Fibrillation (AFib) due to rising incidence of cardiovascular diseases and other chronic conditions, technological advancements in atrial fibrillation devices, and increasing product approvals from FDA for treatment of atrial fibrillation are key factors expected to drive market revenue growth over the forecast period. In addition, rapid advancements in clinical treatment of atrial fibrillation and availability of advanced medical devices are further expected to drive revenue growth of the market going ahead.
Atrial fibrillation is the most common type of cardiac arrhythmia with a global prevalence of nearly 2%. Atrial fibrillation is a supraventricular tachyarrhythmia caused to abnormal electrical activity that leads to uncoordinated atrial activation and uncoordinated atrial contraction. Atrial fibrillation results in a turbulent and abnormal blood flow through chambers of the heart, which in turn, results in decreased effectiveness of the heart to pump blood. Uncoordinated atrial contraction decreases the cardiac output by nearly 20% and this is further exacerbated in mitral stenosis, hypertension, and impaired diastolic ventricular filling, among other conditions. Atrial fibrillation can be asymptomatic or symptomatic, with symptoms including chest pain, dizziness, nausea, fast heart rate, and generalized fatigue. Advanced age, high blood pressure, congenital heart disease, and underlying heart and lung disorders are some major risk factors for atrial fibrillation. Over the recent years, extensive research & development projects is resulting in development of advanced clinical treatment of atrial fibrillation and risk modifying strategies to minimize the risk of stroke and other cardiac complications in patients with AFib.
Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Some Key Highlights from the Report:
- EP ablation catheters segment is expected to account for a significantly large revenue share in the global market over the forecast period attributable to rising preference for catheter ablation for diagnosis and treatment of atrial fibrillation. Atrial fibrillation is considered as the most promising indication for cardiac ablation owing to its increasing unresponsiveness to existing treatment and growing prevalence across the globe.
- Hospitals segment is expected to register robust revenue CAGR over the forecast period owing to increasing patient admissions in hospitals, rising number of catheter ablation procedures performed in hospital settings, availability of skilled professionals and state-of-the-art healthcare infrastructure, advanced post-operative facilities, and growing preference for minimally invasive surgical procedures.
- North America is expected to account for largest revenue share between 2021 and 2028 attributable to increasing number of atrial fibrillation treatment procedures performed due to rising incidence of cardiovascular diseases, growing investment to advance clinical treatment of atrial fibrillation, availability of robust healthcare infrastructure and facilities, implementation of favorable reimbursement policies, and increasing FDA approvals for medical devices and treatment.
- In September 2021, Match Health Academy, which is an online learning platform, announced the launch of three online video courses offered by experts to educate patients and their families understand atrial fibrillation and help them in managing it. Match Health Academy offers online learning with self-paced courses that help patients and their families improve their knowledge and understanding of health conditions and available treatment approaches.
Top Players in the Global Atrial Fibrillation Market:
Abbott Laboratories, Atricure Inc., Johnson & Johnson, Microport Scientific Corporation, Boston Scientific Corporation, Biosense Webster, Inc., St. Jude Medical, Inc., Siemens AG, Medtronic Plc, Koninklijke Philips N.V., Cardiofocus, Inc., Biotitic Se & Co. Kg, Inc., Carima, Inc., Ncontact, Inc., and Agricore, Inc.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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Atrial Fibrillation Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018-2028)
- EP Ablation Catheters
- Cardiac Monitors
- EP Diagnostic Catheter
- Mapping and Recording Systems
- Access Devices
- Intracardiac Echocardiography
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Cardiac Centers
- Ambulatory Care Centers
Global Atrial Fibrillation Market Report: Regional Segmentation
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Atrial Fibrillation market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Atrial Fibrillation market?
- Which regional market is expected to lead in terms of revenue share in the global Atrial Fibrillation market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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