Segments - Global Paroxysmal Atrial Fibrillation Treatment Market by Treatment Type (Pharmacological Treatment, Non-pharmacological Treatment, Maze Surgery, and Electric Cardioversion), Technology (Radiofrequency, Laser, Cryotherapy, and Others), End-user (Hospitals, Specialty Clinics, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022-2030
The global paroxysmal atrial fibrillation treatment market was estimated at USD 4,822.5 Mn in 2021 and is anticipated to reach USD 10,040.2 Mn by 2030, expanding at a CAGR of 8.8% during the forecast period.
Paroxysmal atrial fibrillation is a condition experiencing an irregular heartbeat, which results in cardiac arrhythmia. This type of atrial fibrillation occurs occasionally and stops spontaneously. Paroxysmal atrial fibrillation causes damage to the electrical pulses, resulting in irregular heartbeat in the patient.
The major symptoms of Paroxysmal atrial fibrillation include chest pain, shortness of breath, fatigue, and others. Paroxysmal atrial fibrillation can cause stroke or heart-related disease conditions in the patient. The type of heart condition is treated with different classes of oral drugs such as anti-arrhythmic and anti-coagulant.
Flecainide, sotalol, and propafenone are some oral medicines used for the treatment of Paroxysmal atrial fibrillation. The treatment includes minimally invasive procedures such as catheter ablation, electric cardioversion, maze surgery, and others.
Governments across the globe are investing in the healthcare industry to increase real per capita healthcare spending. Healthcare expenditure plays an important role in the treatment of several diseases, owing to the high cost of treatments for the different types of diseases.
The incremental cost for atrial fibrillation treatment is in between the range of USD 6.0 to USD 26.0 billion. Hospitalization is a major driver of the rising cost of atrial fibrillation treatment. According to National Health Estimates, the governmental share in total health expenditure increased from 28.6% in the year 2018 to 40.6% in 2019.
National Healthcare Spending is expected to be USD 4.1 trillion in 2020. Hospital expenditure increased up to USD 1,270.1 Billion in 2020, which is faster than the 6.3% growth in 2019.
Incidences of lifestyle disease, such as heart-related and diabetes condition, is rising, as a majority of the population suffers from chronic disease condition, owing to their poor eating habits, and sedentary lifestyle, resulting in high cholesterol and arrhythmic condition. An increase in the number of people suffering from arrhythmia and heart-related disorders boosts mortality rates caused by stroke.
The arrhythmic condition accounts for 15% to 20% of overall deaths globally. Thus, the development of effective diagnosis and treatment for restoring abnormal rhythm in patients is integral. Electric cardioversion therapy, catheter ablation, and oral anticoagulants are preferred treatments for normalizing irregular heartbeats in patients with Paroxysmal atrial fibrillation conditions. Rising incidences of arrhythmia fuel the need for Paroxysmal atrial fibrillation.
Elderly patients with an age group above 80 years are prone to heart-related conditions such as cardiac arrhythmia, owing to aging and weak immunity. The elderly population usually develops a high risk for cardiovascular diseases. Thus, rising cardiovascular cases among elderly patients propel the demand for Paroxysmal atrial fibrillation treatment.
Different medications and therapies are available for Paroxysmal atrial fibrillation treatment. Amiodarone is an antiarrhythmic medication administered along with cardioversion therapy, which effectively controls and maintains a normal heart rate. Thus, the increasing prevalence of Paroxysmal atrial fibrillation, especially arrhythmia among the elderly population is driving the market.
Bad eating habits and sedentary lifestyles mostly result in a high risk of developing heart-related disorders. Heart failure or stroke commonly occurs as a result of serious complications of Paroxysmal atrial fibrillation. These heart conditions are mainly caused by abnormal electrical pathways and irregular heartbeat with the pumping of inefficient oxygen-rich blood in the body.
Thus, rising cases of heart failure or stroke among patients is a key factor boosting the demand for Paroxysmal atrial fibrillation treatment. Electrical cardioversion, catheter ablation, and oral medication are some remedies to lower the risk of stroke and restore irregular rhythm in a patient.
The Paroxysmal atrial fibrillation procedure is used to treat arrhythmia in heart patients. Different types of catheter ablation are performed for the Paroxysmal atrial fibrillation treatment. The radiofrequency ablation procedure uses radio frequency waves for treating arrhythmic conditions. Whereas, cryoablation procedures use extreme cold to freeze and destroy damaged tissue causing the arrhythmia.
These procedures use advanced ablation techniques for normalizing arrhythmic heart rates, which require a team of skilled healthcare professionals. For instance, Stanford Healthcare organization offers advanced Paroxysmal atrial fibrillation treatment with a group of skilled doctors for treating arrhythmia in patients.
Thus, the lack of skilled medical professionals handling diagnostic devices for arrhythmia treatment reduces the efficacy of the diagnosis result. Thus, the lack of skilled professionals for treating arrhythmia is restraining the growth of the market.
Paroxysmal atrial fibrillation is a common arrhythmia condition diagnosed with cardiac monitoring devices. These cardiac monitoring devices are incorporated with technologies for offering accurate detection of arrhythmia in patients.
For instance, electrocardiogram patch monitors are validated wearable digital devices incorporated with advanced Technology, offering accuracy and high diagnostic yield than traditional Holter monitors. The devices are used along with smartphone applications that ensure accurate monitoring of the arrhythmic heart rate in patients.
Furthermore, the manufacturers of cardiac monitoring devices are focusing on the adoption of Artificial Intelligence (AI) and other advanced technologies in cardiac monitoring devices, which can help reduce complications in patients. Implantable cardiac monitoring devices are developed along with AI that helps in accurate diagnosis and prevent a high risk of stroke in cardiac arrhythmia patients.
The report on the global Paroxysmal Atrial Fibrillation Treatment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Paroxysmal Atrial Fibrillation Treatment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2015–2020 |
Forecast Period |
2022–2030 |
Segmentation |
Treatment Type (Pharmacological Treatment, Non-pharmacological Treatment, Maze Surgery, and Electric Cardioversion), Technology (Radiofrequency, Laser, Cryotherapy, and Others), End-user (Hospitals, Specialty Clinics, and Others) |
Regional Scope |
Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
ATRICURE, INC., Abbott, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CardioFocus, Johnson & Johnson Services, Inc., Medtronic, Rising Pharma Holdings, Inc., Sanofi, and Siemens Medical Solutions USA, Inc. |
Based on Treatment Type, the market is segmented into pharmacological treatment, non-pharmacological treatment, maze surgery, and electric cardioversion. The pharmacological treatment segment is expected to hold a considerable share of the market during the forecast, owing to an increase in preference for antiarrhythmic drugs over other surgical methods among patients.
On the basis of Technology, the market is fragmented into radiofrequency, laser, cryotherapy, and others. The radiofrequency segment holds a key share of the market. The increasing prevalence of arrhythmias that cannot be controlled by medication is driving the demand for radiofrequency treatment, which is propelling the segment.
In terms of End-user, the market is classified as hospitals, specialty clinics, and others. The hospital segment is anticipated to expand at a significant CAGR during the forecast period, as the radiofrequency, laser, and cryotherapy techniques are widely performed in hospitals by specialized doctors. Patients suffering from atrial fibrillation mostly prefer hospitals for their treatment due to the presence of specialized doctors and the wide availability of advanced treatment devices.
Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2021, due to the growing geriatric population and rising prevalence of cardiovascular diseases in the region.
Manufacturers operating in the global Paroxysmal Atrial Fibrillation Treatment market are ATRICURE, INC., Abbott, Boehringer Ingelheim International GmbH, Boston Scientific Corporation, CardioFocus, Johnson & Johnson Services, Inc., Medtronic, Rising Pharma Holdings, Inc., Sanofi, and Siemens Medical Solutions USA, Inc.
The base year considered for the global Paroxysmal Atrial Fibrillation Treatment market report is 2021. The complete analysis period is 2015 to 2030, wherein, 2015 to 2020 are the historic years.
The forecasted year considered for the global Paroxysmal Atrial Fibrillation Treatment market report is 2030.
In addition to market size (in US$ Million), company market share (in % for the base year 2021), macroeconomic factors, and supply chain analysis.
The global Paroxysmal Atrial Fibrillation Treatment market remained unaffected by COVID-19, and the production of drugs and medical equipment in manufacturing units continued during the lockdown, which boosted the supply of products for the treatment of Paroxysmal atrial fibrillation in the market.
Major manufacturers include Boehringer Ingelheim International GmbH, Medtronic, Sanofi, and Johnson & Johnson Services, Inc.
Factors such as healthcare spending, GDP, lifestyle diseases, and growth in hospital infrastructure are analyzed in the final report.
According to this Growth Market Reports report, the global Paroxysmal Atrial Fibrillation Treatment market is likely to register a CAGR of 8.8% during the forecast period 2021-2030, with a projected valuation of USD 10,040.2 million by the end of 2030.
The increasing prevalence of Paroxysmal atrial fibrillation in elderly patients, rising prevalence of strokes, and heart failure, and increasing adoption of heart monitoring devices across the globe are the factors expected to drive the market growth during the forecast period.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst