Atrial Fibrillation Market to Reach Valuation of USD 38.9 Billion by 2030 – Increasing approval of products and increase in the prevalence of Atrial Fibrillation Drives the Market

In terms of revenue, the Global Atrial Fibrillation Market is expected to reach USD 38.9 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 12.1% from 2022 to 2028.

The rapid growth of the elderly population is driving the Atrial Fibrillation market along with the increasing incidence of Atrial Fibrillation in the elderly population. Additionally, growth in emerging treatments such as the catheter ablation technique, used to treat abnormal heart rhythms when drugs are not working, is expected to drive the market. Over the past 20 years, the number of cases of Atrial Fibrillation has increased worldwide. The raising cases in the U.S. by approximately 200,000 to 400,000 each year prompted the growth of the market. In the treatment of atrial fibrillation, the increased use of cardiac monitoring systems led to the surgical segment generating the largest revenue in 2020. With the increasing number of patients suffering from cardiac arrhythmia or irregular heartbeat, the demand for cardiac monitors is also increasing which will propel the growth of the market.

Key Highlights from the Report

·Based on the Procedures, Non-Pharmacological treatment had the highest revenue in 2020 due to the increasing use of a cardiac monitoring system in the treatment of atrial fibrillation. The increasing number of patients suffering from arrhythmias or irregular heartbeats has increased the demand for heart rate monitors.

·Based on the End User, Hospitals segment has registered highest revenue in 2020, owning to increase in adoption of laser and radiofrequency method for catheter ablation.

·On the basis of geographic regions, the global Atrial Fibrillation market is segmented into North America, Europe, Asia Pacific and Rest of the world. North America achieved the highest sales in the Atrial Fibrillation market in 2020. High popularity of high-tech Atrial Fibrillation treatment devices in North America countries is the main development driver of Atrial Fibrillation market.

Market Dynamics

Technological advances are driving the Atrial Fibrillation market. Advanced catheter ablation to treat Atrial Fibrillation and reduce the risk of stroke in patients is produced by the big players. Connect and manage different tools and applications on one platform. The unified ecosystem these solutions provide is favored by many organizations around the world. The growth of the Atrial Fibrillation market is attributed to the increase in the incidence of Atrial Fibrillation in the elderly population and the technical development of the treatment of atrial fibrillation. Catheter ablation is increasingly used in the treatment of cardiac arrhythmia because it is a low-risk and minimally invasive method with a success rate of 95.0%.There is a growing need for the most common surgical device used to treat arrhythmias, the catheter ablation device, which removes damaged heart tissue and causes the heart to beat irregularly.

The novel coronavirus (COVID-19) spread rapidly in different countries and regions in 2019, causing a tremendous impact on people's lives and the growth of the Atrial Fibrillation market. The COVID-19 pandemic has slowed down; the manufacturing of many products in the Atrial Fibrillation market due to lockdowns. The introduction of the vaccine for COVID-19 in the market has led to the reopening of large Atrial Fibrillation stores. This is expected to help grow and regain the market share of atrial fibrillation. As COVID-19 cases begin to decline, equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply networks to respond to urgent emergencies and establish new ways of working.

The growing number of new products and technologies are helping the market grow, but one of the limiting factors is the high price of the treatment process. The treatment is expensive and cannot be used every time to bring considerable aid. The growth of the global Atrial Fibrillation market is also hampered by product recalls.

North America Atrial Fibrillation market is expected to witness a noteworthy development with a significant growth rate over the analysis period. Notable industry participants Abbott (US), Johnson & Johnson Private Limited (U.S.), Boston Scientific Corporation (US), are anticipated to accelerate market growth in the area. In addition, the rapidly increasing incidence of heart disease in an aging population poses a major challenge for healthcare systems. Therefore, to meet this challenge, many new products are being approved and launched in North America countries, further stimulating the development of the Atrial Fibrillation Market. The Asia Pacific region is expected to witness the fastest growth during the forecast period 2022 to 2029 owing to the increase in the number of older adults and the increase in disposable income.

The Global Atrial Fibrillation Market is Segmented as follows

• Types
  • Surgical
  • Non-Surgical
• Technologies
  • Radio Frequency
  • Laser
  • Cryotherapy
  • Other Technologies
• End Users
  • Hospitals
  • Specialty Clinics
  • Other End Users
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Atrial Fibrillation Market is

Johnson & Johnson (New Brunswick, U.S.), Micro Port Scientific Corporation (China), Boston Scientific Corporation (Marlborough, U.S.), St. Jude Medical (Saint Paul, U.S.), Medtronic PLC (Dublin, U.S.), Abbott Laboratories (Chicago, U.S.), Biotronik SE & Co. KG (Berlin, Germany), Koninklijke Philips N.V. (Netherlands), Siemens AG (U.S.), AtriCure Inc. (U.S.)

The Global Atrial Fibrillation Market Scope can be Tabulated as below