Atrial Fibrillation Market Growth Driven by Technological Advancements in AFib Systems and Solutions and Rapidly Increasing Geriatric Population - Reports and Data

Increasing incidence of AFib, advancements prediction and management, and improved precision in diagnosis of are some key factors driving market revenue growth

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Nov 16, 2021, 08:00 ET

NEW YORK, Nov. 16, 2021 /PRNewswire/ -- The global atrial fibrillation market size is expected to reach USD 2.11 billion in 2028 and register a CAGR of 6.4% during the forecast period, according to the latest report by Reports and Data. Rising global prevalence of atrial fibrillation, advancements in research to identify modifiable AFib risk factors, and growing focus on targeted prevention programs to manage atrial fibrillation at early stages are key factors expected to drive market revenue growth over the forecast period. In addition, awareness about atrial fibrillation and its detection has improved significantly over the recent past and has led to further development of more robust treatment strategies to reduce mortality and morbidity associated with this condition.

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Atrial fibrillation is the most commonly detected arrhythmia in modern clinical practice and is responsible for nearly 30% of the hospital admissions related to cardiac rhythm problems. Global prevalence of atrial fibrillation is rising steadily and the healthcare burden as a result has been increasing owing to higher rates of atrial fibrillation-related hospital admissions. Atrial fibrillation leads to a chaotic or abnormal blood flow through heart chambers and the loss of effective atrial contraction leads to a 15-20% reduction in cardiac output. Obesity, Obstructive Sleep Apnea (OSA), hypertension, genetic predisposition, and valvular heart disease are some of the major risk factors with atrial fibrillation. Atrial fibrillation is associated with a significant increase in long-term risk of stroke, heart failure, and impaired quality of life. This has led to growing need for a renewed approach to AFib management and in turn has increased focused on modifying the risk factors for atrial fibrillation along with adjuvant drug therapy. Recent advancements in medical technology has resulted in greater understanding of atrial fibrillation and the mechanism of its onset, and this is expected to further drive revenue growth of the market over the forecast period.

Atrial fibrillation has been categorized into three primary forms based on the duration of the episode and these include paroxysmal AF, persistent AF, and long standing persistent AF. It is important to identify and determine the clinical significance of arrhythmia before the atrial fibrillation is to be treated. In addition, the field of AFib is evolving rapidly with the development of percutaneous and surgical interventional therapies as safe and viable alternatives to restore normal cardiac rhythm. Minimally invasive surgical modifications and the advent of hybrid ablation have further revolutionized the development of stand-alone procedures to cure atrial fibrillation with reduced morbidity. This is also expected to contribute significantly to revenue growth of the market going ahead. However, lack of awareness and understanding among patients about atrial fibrillation, need for more advanced healthcare facilities, and shortage of skilled professionals are some key factors expected to restrain market growth to a certain extent going ahead.

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Some Key Highlights from the Report:

· Catheter ablation has been widely used to treat atrial fibrillation as an alternative to medical management and is effective for patients having persistent AFib and systolic dysfunction. Catheter ablation is an effective option to improve survival in patients with ventricular dysfunction, improve quality of life, and reduce arrhythmia-related hospital admissions. This has led to increasing preference for electrophysiology and cardiac ablation for the treatment of atrial fibrillation and is expected to contribute steadily to revenue growth of the segment.

Ambulatory surgical centers segment revenue is expected to expand at a robust CAGR over the forecast period, which is attributable to increasing preference for same-day surgical care, accessibility to cost-effective surgical procedures, and availability of convenient alternative to hospital-based outpatient settings.
Asia Pacific is expected to register a robust revenue CAGR over the forecast period, which is attributable to increasing incidence of atrial fibrillation among a rapidly increasing geriatric population, availability of advanced medical devices and equipment and skilled professionals, rising investment to accelerate R&D activities, development of robust atrial fibrillation medical management plans, and growing adoption of atrial fibrillation treatment devices I major countries in the region.
Some major companies in the market report include 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.
In October 2021, Ascension Sacred Heart Bay, which is an acute care hospital based in Florida, U.S., introduced a novel procedure to treat patients with cardiac issues with a small implantable device. The procedure can significantly minimize the risk of stroke in patients with atrial fibrillation that is generally not caused due to valve problems.

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For the purpose of this report, Reports and Data has segmented the global atrial fibrillation market based on type, end-use, and region:

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

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Regional Outlook (Revenue, USD Billion; 2018-2028)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Italy
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
U.A.E.
South Africa
Rest of MEA

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