Atrial Fibrillation Market, By Procedure (Pharmacological Drugs, Non-Pharmacological Treatment ) and By Geography (EU, NA, APAC, LATAM, and MEA) - Analysis, Size, Share, Trends, & Forecast from 2020-2026
発行: AnalystView Market Insights
ページ情報: 英文 177 Pages
Atrial fibrillation market was valued at USD 14.38 billion by 2019, growing with 14.9% CAGR during the forecast period, 2020-2026.
Atrial fibrillation is an irregular or rapid rhythm of the heart, which increases the risk of stroke, heart, blood clots, and other complications. In atrial fibrillation, the upper chambers of the heartbeats irregularly in a very rapid pattern, which results in slowing down of blood flow. The complications of atrial fibrillation include pressure, angina, or chest pain that leads to congestive heart failure. Fainting, fatigue, dizziness, and confusion are some of the symptoms of atrial fibrillation.
The growing prevalence of atrial fibrillation along with the increasing geriatric population is a major factor driving the growth of the global atrial fibrillation market. In addition, the growing incidence rates of atrial fibrillation causing diseases such as high blood pressure, mitral stenosis, pulmonary embolus, hyperthyroidism, obesity, and pneumonia is one of the notable factors responsible for the growing prevalence of this disorder. According to the World Health Organization (WHO), about 11% of the population aged 75 years and above all across the globe, suffer from atrial fibrillation. Furthermore, the rise in medical tourism coupled with the rising preference of catheter ablation for treating cardiac arrhythmia will propel the industry growth further. Conversely, the unfavorable inclination towards pharmaceutical drugs over atrial fibrillation, high costs associated with the devices, and lack of skilled professionals are expected to hamper the market growth in the coming future. On the contrary, the rising need for minimally invasive procedures and technological advancements are predicted to create lucrative growth opportunities in the overall market during the forecast period.
Based on the procedure, the worldwide market for atrial fibrillation is categorized into pharmacological drugs and non-pharmacological treatments. The pharmacological drugs segment includes anticoagulation and antiarrhythmic drugs. Further, the non-pharmacological treatment segment is sub-categorized into electric cardioversion, maze surgery, and the catheter ablation procedures into HIFU, radiofrequency, laser, microwave, and cryoablation. Among these, the catheter ablation surgical devices are the most commonly used for treating cardiac arrhythmias. These surgical devices are also used for the treatment of atrial fibrillation when anti-coagulant drugs and other medications are not tolerated or administered by the patient. Thus, the catheter ablation segment is estimated to dominate the market in terms of revenue in the forecast period. Moreover, an increase in the adoption rate of the catheter ablation system is expected to increase steadily, owing to the growing procedural success rate in patients that suffer from permanent, persistent, and paroxysmal conditions of atrial fibrillation.
Among the surgical catheter ablation, microwave and radiofrequency are the most commonly used catheter ablation procedures. The faster recovery rate of these procedures and the decreased size of the cardiac incision are other factors contributing to the segmental market growth.
Regionally, the global industry is divided into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The North America region accounted for the majority of share in 2019 and is estimated to dominate the industry during the forecast period. This dominance is majorly attributed to the growing adoption of technological advancements and the presence of sophisticated healthcare infrastructure. In addition, the governments of several countries and market players are investing more in atrial fibrillation procedures, which is anticipated to boost the regional market growth.
On the other hand, the Asia Pacific market for atrial fibrillation is anticipated to witness the fastest growth during the forecast period. This is mainly owing to the vast population and various age groups being vulnerable to cardiac diseases. Besides, the rising demand for atrial fibrillation devices and improving healthcare infrastructure are predicted to propel the growth of the Asia Pacific region.
The sudden outbreak of the COVID-19 pandemic has immensely affected the global atrial fibrillation market. The key players of the industry have built and broken various value-grab opportunities to sustain in these trying times. They are capitalizing on novel strategies to obtain and maintain a stable revenue income. However, the global market is estimated to recover soon after the coronavirus chaos.
KEY VENDOR TAKEAWAY
The leading players of the global atrial fibrillation market include Sanofi-Aventis, AtriCure Inc., Biosense Webster Inc., CardioFocus Inc., Bristol-Myers Squibb Corporation, Boston Scientific Corporation, Endoscopic Technologies Inc., Johnson & Johnson Ltd., St. Jude Medical Inc., and Boehringer Ingelheim GmbH. These players are implementing various strategies such as mergers, acquisitions, and technological advancements to hold a strong position in the global industry.
For instance, in August 2019, a leading innovator in treatments for left atrial appendage (LAA) and atrial fibrillation, AtriCure, Inc. acquired SentreHEART by entering into an agreement. The company's aim behind this acquisition is to provide better atrial fibrillation treatment and expand their business.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2015 to2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government and Regional Agencies
Scope of the Report
The scope of this report covers the market by its major segments, which include as follows:
Biosense Webster Inc.
Bristol-Myers Squibb Corporation
Boston Scientific Corporation
Endoscopic Technologies Inc.
Johnson & Johnson Ltd.
Jude Medical Inc.
Boehringer Ingelheim GmbH
ATRIAL FIBRILLATION MARKET, BY PROCEDURE
Catheter Ablation Procedures
ATRIAL FIBRILLATION MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA