The worldwide atrial fibrillation market is predicted to grow at a double digit CAGR over the forecast period (2017 to 2023). Atrial fibrillation, also denoted as AF, is an irregular or fast heart rhythm. It raises the dangers of chest pain, heart strokes, congestive heart failure, or cardiac discomfort. The typical indications of AF are dizziness, confusion, fainting, or tiredness.
AF cases within the elderly population, preference for catheter ablation, and escalating technological developments propel the AF market. Atrial fibrillation is a majorly common arrhythmia that results in disturbed cardiac rhythms. In the last twenty years, a higher existence of AF incidences has been witnessed around the globe. The ‘American Heart Association’ stated that about 34 million people were afflicted with AF globally in 2013.
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Also, the United States observes approximately 200, 000 to 400, 000 fresh cases every year. Rising AF cases have been the key contributor of this industry. Moreover; diabetics, high-blood pressure patients, and obese people have developed cardiac problems, eventually propelling the industry. Rheumatic fever incidences have seen a rise, driving the atrial fibrillation market from 2017 to 2023.
Scientists and field experts have been collaborating to come up with innovative technologies for the premature diagnosis of AF. They have also been trying to offer better treatments to AF patients. Both these factors have generated higher demand for AF devices, furthering industry growth. On the other hand, increase in therapeutic expenses and scarcity of proficient doctors hamper the market.
According to a study by ‘Market Research Future’ (MRFR), the global AF market is set to experience decent expansion in the forecast period. Various lifestyle illnesses, poor eating habits, and sedentary occupations may also cause a surge in cardiac issues, leading to some of the AF incidences. All these factors could further contribute to the growth of this industry. Another hindrance for the market comprises the inclination towards pharmaceutical drugs over AF therapeutics.
Worldwide Rivals and Innovative Trends:
Some of the well-established players operating in the global market are Biosense Webster, Carima, Agricore, Medtronic, and St. Jude Medical. They focus on new therapies for gaining wide recognition and edge over one another.
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The global atrial fibrillation market is divided on the basis of products, end-users, and geographical regions. By products, the industry is fragmented into non-surgical and surgical. The end users consist of cardio centers, big hospitals, and heart specialty care enterprises. Geographical regions into which the market is split, comprise Americas, Europe, Asia Pacific, and the Middle East and Africa.
Catheter ablation, a sub-segment of surgical products, is typically adopted for managing & treating cardiac arrhythmias. It is normally advised for the management of atrial fibrillation when patients can neither tolerate nor be given anti-coagulation drugs. Hence, catheter ablation occupied major shares in 2015. It is reported to be the most rapidly growing sub-segment in the near future.
Modern heart specialty and cardiac centers should witness the maximum adoption of AF devices. In view of geographies, Americas maintains supremacy over the market and would do the same in the forecast period. The usage of high-tech products & services and improved medical infrastructure is accountable for the same. Mexican sellers and government have spent heavy capital on the AF industry.
Asia Pacific will grow at the fastest pace & be driven by its huge patient base and population. Additionally, its need for atrial fibrillation devices can increase owing to better medical infrastructure and high Chinese & Indian healthcare costs.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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