Atrial Fibrillation Market Share, Size & Trends 2031

Report Description

Atrial Fibrillation Market Outlook 2031

The global atrial fibrillation market size was USD 2.06 Billion in 2022 and is anticipated to reach USD 3.60 Billion by 2031 expand at a substantial CAGR 6.4% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing cases of obesity, rapidly changing lifestyle, and rising incidence of hypertension.

Atrial fibrillation or AFib is a kind of heart disorder that produces irregular heartbeats known as arrhythmia and can lead to blood clots, heart failure, strokes and other heart-related issues.

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Moreover, AFib is one of the most common chronic arrhythmia among people above the age of 65. According to the Centers for Disease Control and Prevention (CDC) estimation, approximately 12.1 million Americans are estimated to develop AFib by 2030 and the number is likely to increase owing to the rising number of the old population globally.

Patients with cardiovascular disease are at significant risk of multiple organ failures, such as rhythm and myocarditis disturbance and susceptible to the COVID-19. As per the data published by the government authorities of Wuhan, China, arrhythmia and acute cardiac damage are among the most common heart problems in patients with COVID-19 infection.

Furthermore, a case report published in the Journal of the American Medical Association (JAMA) in February 2020 highlighted common problems among hospitalized patients including acute respiratory distress syndrome, arrhythmia, shock, acute cardiac damage, and acute respiratory distress syndrome.

Meanwhile, the intensive care unit (ICU) patients were more likely to experience the virus infection than non-ICU patient. In the year 2020 an article, 'Home Monitoring of Cardiac Devices in the Era of COVID-19,' summarized that digital platforms and innovative technology should be developed to support remote care, and more research on the role of tele-health.

Several studies suggest that advanced automotive features, constant data collection, and distant patient monitoring are needed to guide best practices. Thus, it is expected to propel the market expansion during the forecast period.

Atrial Fibrillation Market Trends, Drivers, Restraints, and Opportunities

• Growing cardiovascular diseases, increasing geriatric population, and rising cases of stress-related ailments are some of the key factors propelling the market growth.
• Increasing technological advancement and rising R&D activities on new products to treat ailment are expected to boost the market expansion during the forecast period.
• Increasing preferences towards catheter ablation for cardiac arrhythmia treatment and growing medical tourism are fueling the market growth.
• High complications rate and unfavorable preferences towards drugs over atrial fibrillation devices are anticipated to hinder the market expansion in the near future.
• High cost involved in product manufacturing along with the lack of skilled healthcare technician handling devices are some of the restraining factors hampering the market growth in the coming years.
• Ongoing development operational expertise by key pharmaceutical players to enhance the laboratory testing and favorable government policies are likely to offer immense opportunities for the market development in the long run.

Scope of The Atrial Fibrillation Market Report

The report on the global atrial fibrillation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Atrial Fibrillation Market Segment Insights

Non-pharmacological treatment segment is expected to grow at a rapid pace

Based on procedures, the global atrial fibrillation market is segregated as pharmacological drugs, catheter ablation, electric cardioversion anti-arrhythmic, microwave, cryoablation, anti-coagulant, HIFU, non-pharmacological treatments, radiofrequency, laser, and maze surgery. The non-pharmacological treatment segment is expected to grow at a rapid pace during the forecast period owing to the common use of surgical devices for the treatment of cardiac arrhythmias.

However, drugs for the treatment of atrial fibrillation are not always effective, thus, non-pharmacological treatments are extensively used. Such widespread adoption of non-pharmacological approaches is expected to fuel the segment growth in the coming years.

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Ambulatory surgical centers segment is projected to expand at a considerable CAGR

On the basis of end-users, the market is segmented into ambulatory surgical centers, hospitals, and others. The ambulatory surgical centers segment is projected to expand at a considerable CAGR during the forecast period attributed to the well- established healthcare facilities, affordable treatment procedures, and availability of skilled labor.

However, patients are opting for minimally invasive operations due to several benefits such as faster recovery time, lower surgical discomfort, hospital stay, and higher accuracy. These factors are estimated to upsurge the segment growth in the coming years.

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North America is anticipated to constitute a key market share

In terms of regions, the global atrial fibrillation market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the growing number of patients related to atrial fibrillation and the presence of well-established key players in the region.

According to the Center for Disease Control and Prevention (CDC) reports, around 2.7 to 6.1 million persons in the US had atrial fibrillation in 2017. Furthermore, as per the American Heart Association (AHA) reports in 2018, elevated blood pressure is one of the most common reasons of atrial fibrillation accounting for 14-22% of all atrial fibrillation cases in the US. Thus, it is estimated to boost the market in the region during the projected period.

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