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Atrial Fibrillation Market
SKU: DMMD446 | Last Updated On: Jan 19 2023 | Available Formats
> Atrial Fibrillation Market Expected to reach a high CAGR of 6.4% By 2023-2030:
SKU: DMMD446 | Published On: Jan 19 2023 | Available Formats
Atrial Fibrillation Market is segmented by Type (Surgical [Maze Surgery and Catheter Ablation] and Non-Surgical [Electric Cardioversion, Pharmacological Drugs, Diagnostic Devices, Mapping and Recording Systems, Cardiac Monitors, Access Devices, and Left Atrial Appendage and Closure Devices]), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2023-2030.
[150 Pages Report] Atrial Fibrillation Market size was valued at US$ YY million in 2022 and is estimated to reach US$ XX million by 2030, growing at a high CAGR 6.4% during the forecast period (2023-2030). Atrial Fibrillation is the most common heart condition caused due by irregular and rapid heart rate and causes poor blood flow and can cause heart failure and stroke. Atrial fibrillation is the most commonly detected arrhythmia in modern clinical practice and is responsible for nearly 30% of hospital admissions related to cardiac rhythm problems.
Atrial Fibrillation Market - Strategic Insights
By Surgery Procedures, By Non-Surgical Procedures, By End User, and By Region
The global atrial fibrillation market growth is driven by the Increased usage of generics, raising awareness about the disease, and the growing focus of companies in emerging nations are some of the key trends in the atrial fibrillation market.
The rising burden of obesity and heart diseases drives the market growth
The atrial fibrillation market is driven by the rising prevalence of obesity and heart diseases across the globe. Additionally, heart diseases are one of the major causes of mortality across the globe, and due to the changing lifestyle, the number of people suffering from heart diseases is growing rapidly. Obesity is associated with an increased risk of developing cardiovascular disease (CVD), particularly heart failure (HF) and coronary heart disease (CHD). The mechanisms through which obesity increases CVD risk involve changes in body composition that can affect hemodynamics and alters heart structure. Pro-inflammatory cytokines produced by the adipose tissue itself can induce cardiac dysfunction and can promote the formation of atherosclerotic plaques.
Atrial Fibrillation (AFib) is the most prevalent chronic arrhythmia in patients above 65 years of age. As per the Centers for Disease Control and Prevention (CDC) estimates, around 12.1 million people in the United States will have AFib by 2030. With the growth in the aging population, this number is expected to increase. Thus, the increasing incidences of CVD and atrial fibrillation are expected to augment the growth of the market studied and are posing a high burden on the economies of various countries due to the high cost of treatment. Hence, owing to the aforementioned factors, the market studied is expected to grow in the forecast period.
Complications associated with atrial fibrillation will hamper the growth of the market
However, atrial fibrillation is a serious diagnosis. While this condition isn't fatal in itself, it can lead to potentially life-threatening complications. Two of the most common complications of atrial fibrillation are stroke and heart failure, both of which can be fatal if not managed quickly and effectively.
COVID-19 Impact Analysis
COVID-19 patients with cardiovascular disorders are at high risk and are most vulnerable to multiple organ failures, including myocarditis and rhythm disturbance. The data from Wuhan, China, has indicated that arrhythmia and acute cardiac injury were amongst the most prevalent heart complications in confirmed-positive cases of COVID-19. Furthermore, the February 2020 case report in the Journal of the American Medical Association (JAMA) identified common complications, such as shock (8.7%), acute respiratory distress syndrome (19.6%), arrhythmia (16.7%), and acute cardiac injury (17.2%) among hospitalized patients. Moreover, patients who received care in the ICU were more likely to have one of these complications than non-ICU patients.
Moreover, owing to the evolving public health crisis of COVID-19, remote monitoring allows clinicians to maintain necessary patient rapport with their healthcare provider when required. Healthcare providers can access information remotely about a patient's health while the patient is at home, which will reduce the need for hospital visits and minimize the risk of expos-19. The article 'Home Monitoring of Cardiac Devices in the Era of COVID-19', published in 2020, concluded that new technologies and digital platforms to aid in remote care should be developed and further research on the role of telehealth, continuous data collecting, advanced automotive features, and remote patient monitoring is needed to guide best practices, which may fuel the growth of the market in the forecast period.ure to COVID
The ambulatory surgical center's segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The ambulatory surgical center segment is expected to witness good growth due to enhanced healthcare infrastructure, availability of skilled labor, and affordability. The rising patient pool and growing geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, are expected to propel the market. However, compared to conventional surgeries, the benefits of minimally invasive surgeries will ultimately lead to segment growth. Benefits, such as reduced surgical pain, injury, hospital stay, higher accuracy, and speedy recovery time, are encouraging patients to opt for minimally invasive surgeries, which is expected to boost the market growth.
In addition, owing to the increasing burden of obesity, there is an increase in the number of people suffering from atrial fibrillation. Hence, it is believed that an increased prevalence of obesity is contributing to the growth of the market.
North America region holds the largest market share of the global atrial fibrillation market
The North American region is expected to dominate the atrial fibrillation market. This is majorly attributed to the rising patient pool in the region and the presence of key players. As per the statistics provided by the CDC (Centre for Disease Control and Prevention), in 2017, around 2.7 to 6.1 million people in the United States had atrial fibrillation, and with the rising geriatric population, it is expected that the demand for the studied market will grow in the future. As per American Heart Association (2018), high blood pressure was one of the leading causes of atrial fibrillation that accounting for approximately 14-22% of all atrial fibrillation cases in the United States.
With the presence of key players in the country, technological advancements and the availability of favorable insurance policies are augmenting the growth of the market studied in the United States. For instance, in July 2020, Boston Scientific Corporation announced that it received US FDA approval for the WATCHMAN FLX Left Atrial Appendage Closure (LAAC) Device, which is indicated to reduce the risk of stroke in patients with non-valvular atrial fibrillation (NVAF) who requires alternative to oral anticoagulation therapy.
The atrial fibrillation market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Boston Scientific Corporation, Medtronic PLC, Biotronik SE & Co. KG, AtriCure Inc., Cardiofocus Inc., Abbott Laboratories, Advansta Inc., Johnson & Johnson, MicroPort Scientific Corporation, Koninklijke Philips NV, Siemens AG, Osypka AG, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the atrial fibrillation market globally. For instance, in March 2021, Tempus announced that the US FDA granted the company Breakthrough Device Designation for its ECG Analysis Platform. The platform, developed in collaboration with Geisinger, aids clinicians in identifying patients at increased risk of developing atrial fibrillation (AFib) or atrial flutter.
Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company's products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology, and neuromodulation.
Maestro 4000 Cardiac Ablation System: The Open-Irrigated (OI) System Empowers Irrigated Ablation Procedures. OI System empowers your ability to maximize open-irrigated procedure success and helps drive improvement in patient outcomes with the most advanced ablation technology.
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